STAR BUSINESS DESK

BRAC Bank has entered into a strategic partnership agreement with bKash Limited to provide automated cash management solutions for bKash’s extensive nationwide network of agents, distributors, and merchants.

Tareq Refat Ullah Khan, managing director and CEO (current charge) of BRAC Bank, and Kamal Quadir, chief executive officer of bKash, signed the agreement at the bank’s head office in Dhaka, according to a press release.

Commenting on the initiative, Quadir remarked, “Partnering with BRAC Bank strengthens our commitment to enabling digital transactions through a secure and trusted banking channel.”

Syed Abdul Momen, additional managing director and head of SME banking at the bank, stated, “This partnership is a strategic move to reinforce our digital infrastructure and facilitate a seamless transition for businesses from manual operations to automated processes.”

This collaboration enhances BRAC Bank’s digital transaction capabilities and aligns with its broader focus on innovation, particularly in SME banking.

It marks another step towards the bank’s ambition of becoming the most preferred transaction bank in the country.

Through this partnership, bKash agents and distributors maintaining SME current accounts with BRAC Bank can now effortlessly purchase e-money for their bKash wallets and convert it into bank deposits at any time, eliminating the need for manual cash handling and significantly reducing operational risks.

Senior officials from both the bank and the mobile financing service (MFS) provider were also present.