StanChart’s first automated over-the-weekend loan for Nestlé Bangladesh

Business Desk : dhakamirror.com

In accordance with its distributor finance program, Standard Chartered Bangladesh has completed the country’s first automated over-the-weekend loan disbursement, according to a press release.

The first client to receive the funds from a distributor financing loan on a weekend was Nestle Bangladesh,

This enhancement will empower distributors, which are usually small and medium enterprises, by giving them access to finance seven days of the week.

Luthful Arefin Khan, head of Transaction Banking, Standard Chartered Bangladesh said, “Through this programme, the distributors not only benefit from the collateral-free structure and competitive pricing, but also learn financial discipline and proper book-keeping.”

Deepal Abeywickrema, managing director of Nestlé Bangladesh Limited, said, “The new solution will help us enhance the freshness and greatly improve the service level of our customers in bringing high-quality and world-class products to our consumers. “