UCB introduces wide range of new products to realize Three Zeroes vision

[Dhaka, 15 October 2024] Country’s leading private bank United Commercial Bank PLC (UCB) has brought in a new range of products – both deposit account & loan package – in alignment with the Three Zeroes vision, an idea proposed by Professor Muhammad Yunus.

In his book “A World of Three Zeroes”, the chief adviser of the interim government Dr. Yunus has envisioned a world defined by zero poverty, zero carbon and zero unemployment (Three Zeroes). To materialize this dream, it is important that stakeholders of the banking as well as financial ecosystem take effective steps to introduce products that will help achieve such a world by empowering the underserved and enabling the youth.

In accordance with this vision, UCB has today (15 October) introduced new products through a press conference held at the bank’s head office located in Gulshan in the capital. The chief guest of the event was Sharif Zahir, Chairman, UCB. The special guest was Abdul Hai Khan, Executive Vice Chairman, Grameen Trust. Mohammad Mamdudur Rashid, Managing Director and CEO of UCB, was also present at the press conference along with other high officials of the bank.

The newly-launched products include Swadhin (zero unemployment), Somota (zero poverty) and Sabuj Sonchoy (zero carbon). In addition, three new loan packages have also been launched — UCB Progoti (zero poverty), UCB Shobuj Shomriddhi (zero carbon) and UCB Shuchona (zero unemployment).

Sharif Zahir, Chairman, UCB, said at the press conference, “As a responsible entity, UCB is committed to introducing sustainable banking solutions and relevant products so that the world gets a bit more livable for us all. Being inspired from Dr Yunus’ vision of Three Zeroes, we are rolling out new products designed to enable the people with easy and beneficial banking services. These products will not only add value to the customers’ banking experience but also help achieve a world of three zeroes.”

The retail product line-ups (savings account) come with lucrative benefits including attractive interest rate on balance, dual currency debit card, and no maintenance cost. Whereas the new loan packages aim to bring down poverty, carbon emission and unemployment to zero percent. Under UCB Progoti, customers can avail collateral free loan up to BDT 3 lakh, which will help the low-income groups and poor people to gain financial freedom and ger over poverty. Meanwhile, customers can get financing of up to BDT 5 lakh for various purposes including starting new businesses under UCB Shuchona. This will open up new windows while creating employment opportunities for many. On the other hand, UCB Shobuj Shomriddhi will fund environmentally focused business ventures, including renewable energy, waste management and recycling, to decrease carbon emission.