Business Desk :
BRAC Bank and TK Group have signed a Transaction Banking Agreement to implement an advanced dealer collection solution using Virtual Accounts, marking a major step in digitising corporate cash management in Bangladesh.
Under the partnership, BRAC Bank will provide an automated system that allows TK Group to receive payments from its nationwide dealer network directly into Virtual Accounts assigned to each dealer.
The solution will enable real-time reconciliation, faster fund availability, and better control over receivables, improving overall operational efficiency and transparency, according to press release.
The agreement was signed at BRAC Bank’s Head Office last week with key representatives from both organisations present.
From BRAC Bank, Shaheen Iqbal, CFA, Deputy Managing Director and Head of Treasury, FI, Corporate and Institutional Banking, and Md. Sheikh Mohammad Ashfaque, DMD and Head of Branch Distribution Network, signed the deal.
From TK Group, Md. Shafiul Ather, Business Director, signed on behalf of the company.
Other attendees included Md. Azizur Rahaman Reagan, Senior Manager from TK Group, and several BRAC Bank officials, including AKM Faisal Halim, Head of Transaction Banking, and senior members of the Corporate and Institutional Banking Division.
