NCC Bank Celebrates International MSME Day with a slew of Initiatives for Small Businesses

Strategic Insights -

NCC Bank observed International MSME (Micro, Small, Medium and Cottage Industries) Day by organizing a customer gathering event featuring various initiatives aimed at supporting small and medium-sized enterprises. The event's key highlights included an awareness workshop on CMSME financing, open loan disbursements, the unveiling of the SME Visa Multi-Currency Debit Card, the launch of the "NCC Always" app for CMSME customers, and the introduction of "QR Code and Chatbot" facilities. The event's chair, NCC Bank's managing director M Shamsul Arefin, highlighted the importance of CMSME financing for sustainable development, emphasizing the sector's significant contribution to the country's total production and economy. NCC Bank's additional managing director M Khurshed Alam stressed the need for financial inclusion to drive SME sector growth.

Key Takeaways:

  • The CMSME sector contributes approximately 25% of the country's total production, making it a major driver of the rural economy.
  • NCC Bank has already launched four new specialized products/services for SME customers: "NCC Commercial Building Loan," "NCC Commercial Vehicle Loan," "NCC Supply Chain Finance," and "NCC SME Business Account."
  • The bank's managing director, M Shamsul Arefin, emphasized the importance of CMSME financing for sustainable development, citing the sector's significant contribution to the country's total production and economy.
  • NCC Bank is planning to launch customized product services for CMSME customers in the future.
  • The "NCC Always" app for CMSME customers was launched to provide a more user-friendly experience.
  • The "QR Code and Chatbot" facilities were introduced to simplify transactions and customer service.

Statistics:

  • The CMSME sector contributes approximately 25% of the country's total production.
  • NCC Bank offered open loan disbursements to SME customers.
  • The bank has provided four new specialized products/services for SME customers.
  • NCC Bank's customer gathering event was attended by several high-ranking officials from the bank, including its managing director and additional managing directors.
  • Bangladesh Bank's Director of SME and Special Programs Department, Nawshad Mustafa, highlighted the significance of CMSMEs in the country's economy.

Sources:

  • NCC Bank's managing director M Shamsul Arefin
  • NCC Bank's additional managing director M Khurshed Alam
  • Bangladesh Bank's Director of SME and Special Programs Department Nawshad Mustafa