BRAC Bank signs cash management deal with Robi

BRAC Bank PLC recently signed a cash management services agreement with Robi Axiata Limited to deliver advanced cash management services tailored to enhance their financial operations.

Tareq Refat Ullah Khan, deputy managing director and head of corporate and institutional banking at the bank, and M Riyaaz Rasheed, chief financial officer of the mobile operator, penned the deal at the bank's head office in the capital's Gulshan, said a press release.

The agreement enables the leading telco to leverage the bank's extensive transaction banking capabilities, including streamlined collection, payment and liquidity management solutions across the country through agent banking outlets of the bank.

This collaboration highlights BRAC Bank's leadership in transaction banking, combining innovative technology with client-focused solutions to meet evolving business needs.

With access to BRAC Bank's vast distribution network, comprising 187 branches, 62 sub-branches and 1,114 agent banking outlets across Bangladesh, Robi can efficiently manage receivables beyond standard banking hours, including holidays.

Additionally, Robi will utilise CORPnet, the internet banking platform of BRAC Bank for corporate and institutional clients, for 24/7 payment processing.

Other senior officials from both the organisations were also present.