Midland Bank, Sheba Fintech strike MoU to drive digital financial inclusion

Midland Bank recently signed a memorandum of understanding (MoU) with Sheba Fintech Limited to advance digital banking and financial inclusion.

Md Zahid Hossain, deputy managing director of the bank, and Ilmul Haque Sajib, managing director of Sheba Fintech, penned the MoU at the bank's head office in Dhaka, the bank said in a press release.

The collaboration seeks to leverage technology and innovation to deliver advanced and seamless financial services for underserved populations across the country.

Both organisations recognise the growing demand for accessible, tech-driven financial solutions that empower individuals, businesses, and the wider economy, the press release added.

By combining the bank's tradition in developing innovative technology-driven banking offerings with Sheba's fintech solutions, the two entities intend to work together to bring more enhanced digitally focused services.

Md Nazmul Huda Sarkar, chief technology officer of the bank, Md Rashed Akter, head of retail distribution division, and Mohammad Hassibur Rahman, head of cash management unit of institutional banking division, were present.

In addition, several senior executives and representatives from both organisations were also present.