April 29, 2019, Monday I Dhaka: A memorandum of understanding (MoU) was signed between CARE Bangladesh’s KrishiUtsho Micro-franchise and Bank Asia Ltd. for initiating non-traditional financing (NTF) scheme for rural smallholder farmers of Bogura and Jashore. The MoU signing event was held at CARE Bangladesh Dhaka Office and was attended by members from CARE and Bank Asia. Md Ahsan UlAlam, Vice President and Head of Agent Banking from Bank Asia took part in the signing ceremony while Hamidur Rahman, Acting Assistant Country Director – Program Support, signed the MoU forCARE Bangladesh.
This initiative is expected to transform KrishiUtsho’s rural franchisees as Banking Agent to ensure all types of banking services for the rural farmers at their doorstep. This is a pilot that is being initiated by Bank Asia Ltd. and CARE Bangladesh supported by MEDA (Mennonite Economic Development Associates), Canada.
KrishiUtsho is an emerging social enterprise that is working to ensure secure farming for smallholder rural farmers. KrishiUtsho works with Bank Asia Ltd. and Green Delta Insurance Company to support rural smallholder farmers with loan and insurance services for farming.