Standard Chartered Bangladesh completed the country's first automated over-the-weekend loan disbursement under its distributor finance programme yesterday.
Nestlé Bangladesh Ltd was the first client to receive the funds from a distributor financing loan on a weekend, a press release said.
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This enhancement will empower distributors, which are usually small and medium enterprises, by giving them access to finance seven days of the week.
"Through this program, the distributors not only benefit from the collateral-free structure and competitive pricing, but also learn financial discipline and proper book-keeping," said Luthful Arefin Khan, head of transaction banking at Standard Chartered Bangladesh.
"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," said Deepal Abeywickrema, managing director of Nestlé Bangladesh Ltd.
