Agrani Bank – Daridra Bimochon Karmasuchi (DABIK)

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Agrani Bank Daridra Bimochon Karmasuchi (DABIK)

Agrani Bank emerged as a Nationalized Commercial Bank following the Bangladesh Banks (Nationalization) Order 1972 vide President’s Order No. 26 of 1972 under which former Habib Bank Limited and Commerce Bank Limited and renamed as Agrani Bank. The Bank was incorporated as a State-owned Commercial Bank on 17 May 2007 under the Companies Act 1994. On a going concern basis, Agrani Bank Limited took over the business, assets, liabilities, rights and obligations of Agrani Bank through a vendor’s agreement signed on 15 November 2007 between the Ministry of Finance of the People’s Republic of Bangladesh and the Board of Directors of ABL with retrospective effect from 01 July, 2007.

Daridra Bimochon Karmasuchi (DABIK) is a credit program mainly for the hard core people. A person who has up to 0.50 acres of land including homestead can avail the loan facility. A wide range of rural activities are involved in this program. The main objectives are micro enterprises development, income generation, employment creation and poverty alleviation. An individual or a five member group can avail the loan. It is a small and collateral free loan. The maximum loan limit is Tk.10,000 to an individual level. The rate of interest is only 9.00% per annum. The activities of this program are extended in all the branches of Agrani Bank Limited.