(Dhaka) 18th October 2020: Lankan Alliance Finance Limited (LAFL), the subsidiary of the largest state owned bank of Sri Lanka, has signed a Loan Agreement with United Development Initiatives for Programmed Actions–(UDDIPAN) earlier this afternoon at LAFL’s Head Office, Dhaka. Under this agreement UDDIPAN will get long term finance of BDT 200 million for financing its SME clients.
Chief Executive Officer of LAFL Kanti Kumar Saha, and Executive Director of UDDIPAN, Bidyut Kumar Basu signed the agreement on behalf of their respective organizations. The signing ceremony was also attended by the Chief Operating Officer of LAFL Kazi Nasim Ahmed, Additional Director (Finance & Accounts) of UDDIPAN Md. Shah Alam Migee and others.
About Lankan Alliance Finance Limited:
Established in 2018, Lankan Alliance Finance is a joint venture non-banking financial institution (NBFI) with multinational collaboration, licensed by the Bangladesh Bank. The majority stakeholder of Lankan Alliance Finance is a subsidiary of Peoples’ Bank, Sri Lanka’s largest state-owned bank. The local sponsors include large corporates and individuals with an impeccable record and proven goodwill such as Summit Holdings, Rangs Group, Alliance Holdings, Green Delta Insurance, Rabab Fashion and Concept Knitting. With a strong vision for the future and an experienced management team at the helm, Lankan Alliance Finance aspire to provide user-friendly financial services to its clients and introduce innovative technologies for safe and easy money management.
United Development Initiatives for Programmed Actions–(UDDIPAN) started functioning from 1984. It is a national level non-profit organization to promote & enhance of human rights of the poor, underprivileged & disadvantaged segments of the country with prime focus on the participation of children, youths, women & men. Today, UDDIPAN is considered as one of the top 10 largest national development organizations in Bangladesh. It is operating in 231 Upazilas of 43 districts, implementing multi-dimensional programs aimed at improving the quality of life of the economically exploited and socially excluded poor and extreme poor people who are struggling to survive at the margin of life. UDDIPAN started Micro-Finance Program from 1989. Now UDDIPAN Micro-Finance Program’s working area coverage 43 Districts, 231 Upazillas, 1,446 unions and 7,546 villages through 342 branches.
For media enquiry:
Md. Mahmudul Hasan, Marketing & Communication Specialist| Email: Hasan@lankanalliance.com| Mobile: +8801558099596 | Website: https://www.lankanalliance.com/