| James Kon |
BANK Usahawan yesterday signed a Memorandum of Understanding (MoU) with Brunei Shell Petroleum Company Sdn Bhd (BSP) to join its Credit Facility Program.
The programme provides fast-tracked and affordable credit to local contractors of BSP.
Present was Deputy Minister of Finance and Economy Dato Seri Paduka Awang Ahmaddin bin Haji Abdul Rahman.
BSP’s Finance Director Rob Van Velden and Bank Usahawan’s Chief Executive Officer Udo Schedel signed the MoU.
Udo Schedel said, “This is a major milestone in the short history of the bank. We are honoured to be part of the programme and we are confident that we can contribute to its success.”
Rob Van Velden, in his welcoming remark, said, “We launched the programme in February together with Baiduri Bank and Bank Islam Brunei Darussalam (BIBD) to provide fast and cheap credit.
“We have a number of finance arrangements and look forward to grow the portfolio. We also deepened our relationship with Baiduri Bank and BIBD to help the credit provision to local business partners and improve the business of loan portfolio for the banks.”
Today, he said, “We welcome Bank Usahawan into the programme. Bank Usahawan specialises in providing credits to startups and BSP, as part of its local development programme, is also targetting young entrepreneurs and startups.”
BSP’s In Country Value Manager Hajah Rosita binti Hassan sees the provision of credit to local business partners as a key element in its drive to deliver increased local company participation in the portfolio.
“By providing more affordable credit, we hope to create more opportunities for entrepreneurs and local businesses in line with His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam’s vision.”