This information was disclosed by bank director Rick Haque Sikder at the bank’s board meeting on Thursday, said press release of the bank.
NBL Chairman Zainul Haque Sikder, also a freedom fighter, launched the scheme in 2015.
Under the scheme, poor people in several districts, including Rajshahi and Mymensingh, were given collateral-free loans at 5 percent interest rate with a view to making them self-reliant. At that time, interest rate on general lending was 14-15 percent.
Later, Bangladesh Bank capped the lending rate at 9 percent at the instruction of Prime Minister Sheikh Hasina.
Rick Haque Sikder told the 439th board of directors’ meeting that the repayment rate of the loans disbursed under the scheme is 98 percent.
“Among the private banks, National Bank has the second highest number of rural branches after Islami Bank. That’s why this sort of scheme is very good for us and beneficial for the country, especially when the poor people are suffering the most during the coronavirus pandemic,” Rick said.
National Bank Chairman Zainul Haque Sikder has instructed expansion of this ‘Poverty Alleviation’ scheme throughout the country and lowered the interest rate. Such a scheme will remain as an unique example in the country during this pandemic, said the press release.