BRAC Bank recently signed a partnership agreement with Manu Farms, the proprietor of the integrated Poultry Management Mobile Application "Poultry Manager", to provide agricultural financing to poultry farmers through SME digital microloans.
Syed Abdul Momen, deputy managing director and head of SME banking of the bank, and Muhammad Shahin, co-founder and CEO of Manu Farms, penned the deal at the former's head office in Dhaka, according to a press release.
Under this agreement, the bank will provide financial services to Manu Farms' listed poultry farmers.
The project will initially be launched in Mymensingh, Rajshahi, and Gopalganj, extending banking facilities to farmers and entrepreneurs in these areas.
The 'Poultry Manager' app, fully compliant with Poultry Blockchain and IoT devices, facilitates record-keeping and ensures traceability.
It also assures food safety for customers by providing information on poultry feed details, vaccination, and necessary dates.
Both partners seek to create an ecosystem for micro, small and medium enterprises (MSMEs) nationwide such as marginal poultry farmers by integrating technology and financial services.
The app, which has 5,000 active users, received the Smart Bangladesh Award 2023 from the prime minister.
Among others, Tapos Kumar Roy, head of MFI and agriculture finance of the bank, and Mohammed Jakirul Islam, head of SME strategy, innovation and new business, along with Alif Binte Shahin, co-founder of Manu Farms, and DSM Weazadul Islam, manager, were also present.
yed Abdul Momen, deputy managing director and head of SME banking at BRAC Bank, and Muhammad Shahin, co-founder and CEO of Manu Farms, pose for photographs after signing an agreement at the bank’s head office in Dhaka recently. Photo: BRAC Bank
Mutual Trust Bank PLC signed a memorandum of understanding (MoU) with Manu Farms to provide financial support to poultry farmers registered on the "Poultry Manager" app platform.
Md Khalid Mahmood Khan, additional managing director and chief business officer of the bank, and Muhammad Shahin, founder and CEO of Manu Farms, penned the MoU at the bank's corporate head office in Dhaka today.
Syed Mahbubur Rahman, managing director and CEO of the bank, attended the signing ceremony, said a press release.
Under the terms of the MoU, the bank will provide financial services to Manu Farms listed poultry farmers.
This collaboration aims to bridge between farmers and investors by offering innovative and deeply embedded financing solutions in agriculture.
Among others, Usman Rashed Muyeen, deputy managing director and head of credit risk management of the bank, Khalid Hossin, head of digital banking division, Sanjib Kumar Dey, head of SME and agri banking division, along with other officials of the organisations were also present.
Md Khalid Mahmood Khan, additional managing director and chief business officer of Mutual Trust Bank PLC, and Muhammad Shahin, founder and CEO of Manu Farms, pose for photographs after signing a memorandum of understanding at the bank’s corporate head office in Dhaka today. Photo: Mutual Trust Bank.