Eastern Bank PLC has signed a Memorandum of Understanding (MoU) with the Mongla Port Authority to introduce advanced digital banking services at Mongla Port, aiming to improve the efficiency and reliability of financial transactions at the country’s second-largest seaport.
The MoU was signed recently at Mongla, according to a media release issued by the bank. Representing Eastern Bank PLC, Md. Jabedul Alam, Head of Transaction Banking under the Corporate Banking Division, signed the agreement. Dr A. K. M. Anisur Rahman, Member (Engineering and Development) of the Mongla Port Authority, signed on behalf of the port authority.
Under this strategic initiative, EBL and MPA will jointly develop a comprehensive digital financial ecosystem designed to streamline port-related transactions. The partnership seeks to enable port users—including importers, exporters, shipping agents, freight forwarders, and logistics service providers—to conduct financial operations efficiently through EBL’s advanced digital banking platform. The initiative is expected to facilitate faster payments, enhance transparency, and reduce reliance on manual and paper-based procedures.
The introduction of digital banking services at Mongla Port aligns with Bangladesh’s broader efforts to modernise trade and financial infrastructure. By integrating secure and technology-driven banking solutions into port operations, the collaboration is set to support seamless financial management and improve service delivery standards for stakeholders engaged in maritime commerce. Such initiatives also contribute to strengthening operational efficiency and promoting a more business-friendly environment within the country’s port sector.
Senior officials from both organisations attended the signing ceremony. Among those present were Captain Mohammad Shafiqul Islam (G), PSC, BN, Harbour Master; Md. Kamal Hossain, Deputy Secretary and Director (Traffic); Md. Mahfuzur Rahman, Deputy Chief Finance and Accounting Officer; Md. Fazle Alam, Chief Audit Officer; and Lt. Col. Md. Arif Billah, PSC, EME, Chief Engineer (Mechanical and Electrical) of the Mongla Port Authority. Mohammad Arif Chowdhury, Head of Cash Management, Transaction Banking of Eastern Bank PLC, was also in attendance.
Key Details of the Agreement
| Aspect | Description |
|---|---|
| Agreement Type | Memorandum of Understanding (MoU) |
| Signing Venue | Mongla, Bangladesh |
| Participating Organisations | Eastern Bank PLC and Mongla Port Authority |
| Objective | Enhancing efficiency of financial transactions at Mongla Port |
| Core Initiative | Introduction of advanced digital banking services |
| Implementation Approach | Development of a comprehensive digital financial ecosystem |
| Key Beneficiaries | Importers, exporters, shipping agents, and logistics operators |
| EBL Signatory | Md. Jabedul Alam, Head of Transaction Banking |
| MPA Signatory | Dr A. K. M. Anisur Rahman, Member (Engineering and Development) |
| Supporting EBL Official | Mohammad Arif Chowdhury, Head of Cash Management |
| Expected Outcomes | Faster, secure, and transparent financial transactions |
The agreement underscores a collaborative effort to modernise financial operations at Mongla Port, supporting efficient trade facilitation through the adoption of advanced digital banking solutions.