Bangladesh, July 27 -- BRAC Bank PLC has launched a fully digital nano loan facility for bKash merchants, enabling eligible merchants to receive loans of up to Tk 50,000 with approval and disbursement completed within one minute.

The announcement was made on Monday by Syed Abdul Momen, Additional Managing Director (AMD) and Head of SME Banking at BRAC Bank, at a roundtable titled "Financing Opportunities in Bangladesh: Building a More Enabling Financial System for the Private Sector", jointly organised by the Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, and Policy Exchange Bangladesh (PEB) in the capital.

Momen said the service was launched last week on a pilot basis and received nearly 400 loan applications within its ...