Modhumoti Bank PLC has entered into a strategic agreement with RSA Advisory Limited aimed at accelerating institutional transformation and expanding its footprint in the cottage, micro, small and medium enterprise sectors. The agreement was formally signed on Sunday at the bank’s head office in Gulshan, Dhaka, according to an official statement.
The signing ceremony was attended by senior representatives from both organisations, underscoring the significance of the collaboration. On behalf of the bank, Managing Director and Chief Executive Officer Mohammad Shafiul Azam executed the agreement, while K Mahmud Sattar, Chairman of RSA Advisory Limited, signed on behalf of the advisory firm. Mr Sattar is widely recognised for his extensive leadership experience within the country’s leading private commercial banks.
Also present were Additional Managing Director Shahnawaz Chowdhury and Deputy Managing Director and Chief Business Officer Arab Fazlur Rahman from Modhumoti Bank, alongside Selim R F Hossain, Senior Consultant at RSA Advisory Limited, and other senior officials.
Under the terms of the agreement, RSA Advisory Limited will provide integrated strategic business advisory services. The initiative is designed to centralise banking operations, streamline internal processes and promote business diversification. Particular emphasis will be placed on strengthening the bank’s lending and financial services to cottage, micro, small and medium enterprises, widely regarded as a backbone of inclusive economic growth.
Centralisation is expected to reduce duplication of functions across branches, enhance operational efficiency and reinforce governance structures. Through process integration and standardisation, the bank anticipates faster decision-making, improved risk management and stronger regulatory compliance. These reforms are also intended to elevate service quality and reinforce institutional resilience in a competitive financial landscape.
The renewed focus on enterprise financing aligns with national priorities to stimulate employment, invigorate rural economies and boost productivity. By offering tailored financial products and accessible credit facilities, the bank aims to broaden financial inclusion and support emerging entrepreneurs across the country.
A summary of the agreement is presented below:
| Subject | Details |
|---|---|
| Contracting Parties | Modhumoti Bank PLC and RSA Advisory Limited |
| Signing Venue | Head Office, Gulshan, Dhaka |
| Core Objectives | Centralisation of banking operations; expansion in cottage, micro, small and medium enterprise sectors |
| Expected Outcomes | Improved operational efficiency; enhanced institutional capacity; stronger governance and service standards |
Representatives from both organisations expressed confidence that the partnership would enable Modhumoti Bank to achieve sustainable long-term growth and enhance its competitive positioning. By combining strategic insight with operational expertise, the bank aspires to strengthen its standing within an evolving financial environment and contribute meaningfully to broader economic development.