Prime Bank and online marketplace Ajkerdeal have joined hands to facilitate MSME financing to e-commerce merchants without any collateral.
As per an alliance formed recently, the merchants of Ajkerdeal will avail easy access to MSME loan from Prime Bank, according to a press release.
Eligible merchants of Ajkerdeal can now enjoy collateral free loan up to Tk 50 lakh and other tailor-made financial solutions.
The merchants can also avail a wide range of deposit products and free Internet Banking – ALTITUDE - for conducting broad range of e-transactions.
They will need two-year business experience and recommendation letter from Ajkerdeal.
The MSME entrepreneurs can apply for loan from the comfort of their office or home as Prime Bank has assigned dedicated Relationship Manager for exclusive service to the valued merchants of Ajkerdeal.
Under the arrangement, the merchants will also get working capital (CC, OD and Demand Loan), Term Loans for Fixed Asset Purchase and Capital expenditures, International Trade solution- LC, LATR, IDBP etc., Bank Guarantee, Work Order etc.
The alliance between Prime Bank and Ajkerdeal is aimed at encouraging MSME businesses to conduct business through digital platform. Prime Bank and Ajkerdeal will work together to cater to banking needs of MSME businesses and facilitate their financial upliftment.
Private Industry and Investment Adviser to the Prime Minister Salman F Rahman on Wednesday said Bangladesh will attain double digit in global ease of doing business ranking next year.
He made the remark at a virtual meeting on launching three new services on the Online One Stop Service Portal of Bangladesh Investment Development Authority (BIDA).
Verification of National Identity Card, Security Clearance of Security Services Department and Land Use Clearance of Chittagong Development Authority) were formally added through virtual meeting.
Inaugurating the function, Salman F Rahman called upon all to work collectively to increase local and international investment to flourish the economy.
“Though senior government officials feel the importance of ease of doing business index for investment but the officials of field level don’t realise it. So they have to realise it and work cordially for the sake of the country,” he said.
He said the private sector is contributing well in the country’s economy as the government has created a favourable environment for the sector.
“We'd like to achieve the development country status by 2041. It’s not possible without more investment. So, we all have to work collectively to increase investment and improve economic growth,” he added.
Salman said Bangladesh’s tax to GDP ratio is very low among south Asian countries due to weak tax structure. “We've to expand the tax net," he said, noting that many eligible taxpayers are not paying tax. "So, the tax structure should be changed," he added.
Executive chairman of Bangladesh Investment Development Authority (BIDA) Md Sirazul Islam said they have already signed a memorandum of understanding with many organisations. "We hope we can bring all organisations under our services by 2021.”
Uber and bKash on Monday announced a partnership which will allow Uber riders to pay for their trips using bKash, the largest mobile financial service provider in Bangladesh.
The long-awaited partnership aims to enhance rider experience and safety by making the payment process contactless, convenient and secure as riders resume travel after a lengthy lockdown, said a press release.
The partnership will give millions of Bangladeshi riders the convenience of seamlessly taking Uber rides, without the inconvenience of carrying cash or worrying about exact change.
bKash’s digital payment option will take care of all transactions without any manual intervention once the bKash wallet is added as a payment method on the Uber app. This method will help users avoid transaction lag in case of poor network, gateway timeouts, or insufficient balance.
Serving approximately 45 million local users, bKash has been used daily to transfer money, pay for utilities and for other services. With the new partnership, bKash users will have instant access to Uber, and safe and reliable rides at the touch of a button.
The partnership with bKash is a first of its kind for Uber in Bangladesh and is a big step on its journey to increase digitized payments on its platform. It also demonstrates Uber’s commitment to strengthen the digital financial ecosystem and help accelerate ‘Digital Bangladesh’ - the government’s vision of a smart, connected nation.
Nandini Maheshwari, Director, Business Development, Uber, APAC, said, “We applaud the impact fintech leaders like bKash are having in Bangladesh and are pleased to partner with them to expand payment options for our riders. During an ongoing global pandemic and especially as cities start moving again, we understand the importance of safer, cashless transactions to help maintain physical distancing. With this partnership we hope to promote more digital transactions, reduce cash dependency on the platform and improve the country’s digital financial infrastructure.”
Mizanur Rashid, Chief Commercial Officer, bKash, said, “The automatic payment options provided to Uber rides by bKash will bring more relief to customers during this pandemic. The experience of this new digital payment facility will further drive the adoption of uninterrupted ride-sharing services. The payment service for world leading ride-sharing company Uber will enhance the existing network of diversified digital payment solutions and services bKash provides to local consumers.”
As the first ride-sharing company to commence operations in Bangladesh in 2016, this partnership shows Uber’s unwavering commitment to serving riders, drivers and cities in the country. With operations across Dhaka, Chattogram, Sylhet and Cox's Bazar, Bangladesh remains an important market for Uber.
To make payment through bKash, a person needs to select the "Wallet" or "Payment" option in the touch menu, tap "Add Payment Method", tap "bKash" and finally add your account information. The client will receive a notification for successfully linking bKash to Uber.
If bKash is not included in anyone’s payment method options, it is essential to reinstall the app on one’s device. However, after adding bKash, subsequent Uber trips will be automatically paid from the bKash account once the trip is completed.
German car manufacturers BMW have introduced the 2 Series Gran Coupé in Bangladesh.
Executive Motors Limited who are the official dealers for BMW in Bangladesh, unveiled the first ever 2 series Gran coupe this evening through a virtual launch, according to a press release.
Christopher Wehner, Managing Director, BMW Group Asia was the honorable chief guest and gave the welcome speech, M Shamsul Arefeen, Director Operations, Executive Motors limited was present in this virtual launch.
With its sporty look, the 2 Series Gran Coupé establishes a new bar in its class. It boasts advanced BMW front-wheel-drive architecture. Furnished with cutting-edge chassis technology and innovative system, especially in its control system technology, the four-door coupé raises the bar in terms of driving dynamics and agility.
The standout characteristic of the BMW 2 Series Gran Coupé is its dynamically stretched silhouette and the four doors with frameless windows, is lifted from the classical coupé blueprint.
The new Gran Coupé model also features slightly angled headlights, which feature full-LED technology as standard, and form a prominent BMW four-eyed face and draw attention to the familiar BMW kidney grille.
The generous levels of cabin space of the BMW 2 Series Gran Coupé welcome its rear passengers with significantly easier entry and 33 millimeters of extra knee room over the previously available BMW 2 Series Coupé. The seating position inside the car is measured at 12 millimeters higher.
BMW 218i Gran Coupé comes with a 1.5-liter BMW TwinPower Turbo 3-cylinder gasoline engine paired with a seven-speed dual-clutch Steptronic automatic transmission. This offers 140 hp and 220 Nm of torque.
The BMW 218i Gran Coupé is starting at BDT 68,00,000 and also comes with a 5-years of Free Service, Free Parts, Free Repair and Free maintenance or upto 60,000 km in Bangladesh.
The opportunity of instant money transfer service from banks’ app and internet banking to bKash account has been increased with seven new banks.
The facility of transferring money to bKash from 18 top commercial banks in the country now enables 45 million bKash users to enjoy easier and more convenient transactions.
This service has brought great relief during Covid-19 situation as customers can Add Money to the bKash account of their own or loved ones as per their need from any place 24/7, said a press release on Saturday.
Community Bank Bangladesh, Modhumoti Bank, NRB Bank, Southeast Bank, First Security Islami Bank, Social Islami Bank and Union Bank - these seven new banks have recently been added to the Add Money service of bKash.
Prior to these, BRAC Bank, Bank Asia, City Bank, Dhaka Bank, Eastern Bank, Jamuna Bank, Midland Bank, Mutual Trust Bank, South Bengal Agriculture and Commerce Bank, NRB Commercial Bank and Standard Chartered Bank were already included in the Add Money service of bKash.
However, there is also the facility to bring money to bKash account from all Visa and MasterCard, issued by banks in Bangladesh.
Besides Cash Out from agent points, services like Send Money, Mobile Recharge, paying utility bills, payment of offline or online product purchases, donation to any organization, paying school/college tuition fees, payment of various online registration fees and many other facilities have made the customers’ financial transactions secure, easy and hassle-free.
Furthermore, customers are now more empowered as they can use their money at any time. bKash has truly become customer's 'digital wallet'.
Moreover, customers can now pay their Visa and Amex credit card bills from home through bKash. Since time is an important factor in paying credit card bills, customers feel more comfortable to use credit card bill payment service of bKash.
Thus, they are avoiding to go to the banks and maintaining social distance during Covid-19.
Customers can safely add money to their bKash account without any hassle in a few simple steps.
They need to tap on ‘Add Money’ after selecting ‘Bank to bKash’ or ‘Card to bKash’ option from the main menu of bKash app's home screen. In case of Bank to bKash service, if the customer clicks on the logo of the designated bank, he/she is redirected to the log-in page of that bank.
Customer's cash-in limit is applicable on the Add Money service. That means, a customer can bring a maximum amount of Tk 30,000 in 5 times in a day and a maximum amount of Tk 2 lakh in 25 times in a month by combining cash-in and Add Money.
Launched in 2011, bKash, a joint venture of BRAC Bank, US based Money in Motion,
International Finance Corporation, Bill and Melinda Gates Foundation and Ant Group, operates as a payment service provider offering broad range of digital financial services under the regulation of Bangladesh Bank.