NCC Bank PLC has signed a Memorandum of Understanding (MoU) with the Bangladesh Investment Development Authority (BIDA) with the aim of improving the speed, efficiency, and integration of services provided to investors.
Under the agreement, investors will be able to access key banking and related services through a unified digital platform. The initiative is intended to support a more streamlined investment process by linking banking facilities with BIDA’s One Stop Service (OSS) system.
As outlined in a media release, NCC Bank will enable online bank account opening and provide other relevant banking services through the OSS platform. This integration is expected to reduce procedural complexities by allowing investors to complete essential banking tasks digitally through a single interface.
A central component of the arrangement is the establishment of secure server-to-server connectivity between NCC Bank and BIDA. This system is designed to ensure safe, efficient, and reliable digital data exchange between the two institutions.
The signing ceremony took place recently at BIDA’s conference room. Air Commodore Md. Shaharul Huda, Executive Member of BIDA, was present on the occasion.
The MoU was signed by M. Shamsul Arefin, Managing Director of NCC Bank, and Jiban Krishna Saha Roy, Director General (Investment Promotion) of BIDA, on behalf of their respective organisations.
Senior officials from both sides attended the event, including Md. Shahinuzzaman, Additional Director of Bangladesh Bank; Md. Habibur Rahman, Deputy Managing Director of NCC Bank; and Shahin Akter Nuha, Head of Transaction Banking & Cash Management at NCC Bank.
Speaking at the ceremony, M. Shamsul Arefin stated that the integration of services through BIDA’s digital platform represents an important advancement in facilitating investment activities. He noted that the system allows investors to access multiple services from both public and private entities through a single digital gateway.
He further stated that NCC Bank’s involvement would contribute to improved efficiency, transparency, and responsiveness in investment-related services, supporting a more structured and investor-friendly environment.
According to the agreement, both organisations will exchange relevant information through digital channels and provide necessary technical assistance to ensure uninterrupted system operations. They will also cooperate to maintain data accuracy, strengthen security protocols, and ensure effective service delivery.
Summary of the MoU
| Area | Details |
|---|---|
| Parties involved | NCC Bank PLC and BIDA |
| Purpose | Improve investor service delivery |
| Digital platform | One Stop Service (OSS) system |
| Banking services | Online account opening and related services |
| Connectivity | Secure server-to-server integration |
| Key focus | Efficiency, transparency, data security |
| Collaboration | Digital information exchange and technical support |
The agreement reflects ongoing efforts to enhance digital integration between financial institutions and investment facilitation bodies in Bangladesh, with a focus on simplifying services for investors through coordinated online systems.