Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
In a move aimed at fostering growth and innovation, BRAC Bank and the Bangladesh Indenting Agents’ Association (BIAA) have recently entered into a Memorandum of Understanding (MoU).
This collaboration is intended to provide comprehensive banking solutions tailored for the association's over 1,500 member firms, says a press release.
The BIAA is a national forum representing companies engaged in the indenting business.
The collaboration with BRAC Bank is expected to revolutionize how these companies manage their banking transactions.
The partnership's main offerings include smart banking solutions, exclusive transaction banking services, and dedicated remittance services.
This will ensure prompt encashment of inward foreign currency and execution of local transactions, further propelling the growth trajectory of the indenting sector.
Tareq Refat Ullah Khan, deputy managing director and head of Corporate Banking at BRAC Bank, remarked on the partnership, "This collaboration is a testament to our commitment to drive innovation and efficiency in the banking sector. We are eager to see the positive impacts it will bring to the members of BIAA."
Md. Nuruzzaman, president of BIAA, also commented, "This partnership stands as a beacon for the growth of the indenting sector. We are confident that with BRAC Bank's robust solutions, our members will experience a seamless banking experience."
The official agreement was signed on August 28, with Tareq Refat Ullah Khan representing BRAC Bank and Md. Nuruzzaman signing on behalf of BIAA.
The ceremony witnessed attendance from several dignitaries of both organizations.
From BRAC Bank, attendees included Taher Hasan Al Mamun, senior zonal head of the Distribution Network; Jabedul Alam, head of Transactional Banking; Taher Mridha, head of Payments and Transactions; and Shamir Mitra, Cluster & Bijoynagar branch manager. BIAA was represented by Bahalul Mansur, senior vice president; Engr. Farid Ahamed, vice president, and other esteemed directors and members.