BRAC Bank, Sheba Platform to facilitate digital commerce for SMEs

BRAC Bank and Sheba Platform Limited have recently signed an agreement and marked the official kickoff of “SME Bondhu” – an SME banking initiative aims to facilitate MSME’s inclusion into the ever-growing digital commerce.

The objectives of the project are to leverage BRAC Bank’s network and facilitate women-led SMEs revive their businesses, introduce and promote digital ways of business, train and develop SMEs’ capability to run business in new ways of normal, help SMEs and Women Entrepreneurs attract new customers, promote digital transaction, payments, logistics and delivery, and promote sustainable business approach and ensure long-term profitability.

Sheba Platform is lending their sManager solution, where SMEs can conduct businesses online and avail inclusive services like online store, digital bookkeeping, payment and delivery.

BRAC Bank SME customers will get a five per cent discount in subscriptions, while Women Banking TARA Customers will be able to use it for free.

Deputy managing director and head of SME Banking of BRAC Bank Syed Abdul Momen and chief operating officer of Sheba Platform Ltd. Ilmul Hoque Sajib signed the agreement on behalf of their respective organizations at the bank’s head office in Dhaka on 28 September.

Senior officials of BRAC Bank and sManager were also present at the ceremony.

The project is part of the Women Enterprise Recovery Fund (WERF) of the United Nations Capital Development Fund (UNCDF) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).