August 16, 2022, 1:43 am

Staff Correspondent

2021-12-29 07:02:21 BdST

MoU signed to facilitate financial services for women entrepreneurs

High officials of WEAB and Standard Chartered Bangladesh at the MoU signing ceremony on Tuesday

A Memorandum of Understanding (MoU) was signed between Standard Chartered Bangladesh and Women Entrepreneurs Association of Bangladesh (WEAB) on Tuesday to facilitate access to financial services for women entrepreneurs in Bangladesh.

Salma Masud, President, WEAB and Sabbir Ahmed, Head, Consumer, Private and Business Banking, Standard Chartered Bangladesh signed the MoU, said a media statement.    

Under the partnership, WEAB and Standard Chartered will collaborate to ensure WEAB members get better access to finance. The partnership will also extend to knowledge exchange on financial services, consultation support and organising training sessions for women entrepreneurs.

In her speech, Salma Masud said, “WEAB has been a key contributor of women entrepreneurship development in Bangladesh for more than 20 years, and we are delighted to partner with Standard Chartered to empower our members with better access to finance.” 

Sabbir Ahmed said, “We are proud to partner with WEAB for improving access to finance for women entrepreneurs in Bangladesh. WEABs experience and network with women entrepreneurs will significantly complement Standard Chartered’s global strategy for increasing participation in Women Entrepreneur financing.”   

“We hope this partnership will gradually expand further, complementing our key global strategy for lifting participation in our key markets by unleashing the full potential of women entrepreneurs,” said Bitopi Das Chowdhury, Head, Corporate Affairs, Brand & Marketing, and Standard Chartered Bangladesh. 

WEAB has been a renowned patron of women entrepreneurs in Bangladesh since its establishment in 2000. At present, WEAB has 5,000 members all across Bangladesh. It has been a strong community voice, lobbying for micro to macro women entrepreneurs to assist their growth and to improve their social and economic prospects.   

With over 116 years of presence in Bangladesh, Standard Chartered is the only bank in the country with a unique blend of deep-rooted local presence and capacity to capitalise on its global network and product coverage.

The partnership leverage Standard Chartered’s banking networks both at home and abroad to purposefully connect SMEs with broader local and international markets, added the statement.

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