IFIC Bank has decided to extend loans to readymade garment factories and other industrial units at six percent interest rate to encourage them to install firefighting and evacuation systems.
The decision came from the meeting of the bank’s Board of Directors, said a press release on Monday.
It said the bank took the measure in the wake of several incidents of fatal fire and loss of lives of workers in garment factories.
IFIC Bank Managing Director Shah A Sarwar said the loan recipients would get five years for repayment.
Entrepreneurs have been advised to contact the relationship manager at the bank’s principal branch in the city’s Motijheel for the loan facility.