BASIS Signs MoU with BRAC Bank

BASIS signed a Memorandum of Understanding (MoU) with BRAC Bank PLC on October 31, 2024 at Head office, Gulshan to introduce exclusive collateral-free loan facilities for BASIS members. This strategic alliance enables our members to access vital financial resources quickly and easily, empowering them to navigate challenges and accelerate their entrepreneurial journeys.

The MoU aims to provide members with streamlined financing options that eliminate collateral requirements, bolstering the support necessary for innovation, sustainable business expansion, and economic contributions in the ICT sector. With this partnership, BASIS members can expedite their financial success and achieve their business aspirations.

Mr. M Rashidul Hasan, President of BASIS, remarked in his opening speech, "Our partnership with BRAC Bank opens new financing avenues for our members, driving their innovation and expansion."

Mr. Syed Abdul Momen, DMD and Head of SME at BRAC Bank PLC, expressed BRAC Bank’s enthusiasm for the collaboration, stating, "We are delighted to partner with BASIS, creating new opportunities for IT entrepreneurs to access vital funding without the barrier of collateral."

Additionally, Mr. M Asif Rahman, Vice President of Finance at BASIS, noted, "This MoU marks a significant step in equipping BASIS members with tailored financial tools to support their growth and stability."

Mr. M Asif Rahman, Vice President of Finance at BASIS, and Mr. Syed Abdul Momen, DMD and Head of SME BRAC Bank PLC, signed the MoU on behalf of their respective organizations.

Additionally, esteemed EC members from BASIS, including Mr. M Rashidul Hasan, President; Mr. Biplob Ghosh Rahul, Director; Mr. Mir Shahrukh Islam, Director; Mr. Anisul Haq Bhuya, Chairman of the Standing Committee on Member Services and Welfare; and Mr. S.M. Zakaria Islam, Executive, Membership, were also present at the signing ceremony.

Furthermore, from BRAC Bank's side, key representatives attended the MoU signing, including the Head of Small Business (Central) & Head of Emerging Corporate, SME Division; Head of Small Credit (South); Head of Underwriting, Emerging Corporate; Head of Business Transformation and Product.

This collaboration facilitates access to essential funding for innovation, operational expansion, and financial stability, particularly benefiting startups with irregular income cycles, significantly boosting the growth of IT entrepreneurs.