Jamuna Bank PLC has formally entered into a strategic partnership with the Bangladesh Microcredit Regulatory Authority (MRA) through the signing of a Memorandum of Understanding (MoU). The agreement aims to strengthen collaboration between the two institutions and to provide modern, technology-driven banking solutions tailored to institutional needs.
The MoU was signed by Mr A.K.M. Atiur Rahman, Deputy Managing Director and Chief Information Officer (CIO) of Jamuna Bank, and Mr Md. Nure Alam Mahdi, Executive Director of the MRA. The signing ceremony was attended by senior officials from both organisations, reflecting the significance of this collaboration.
Under the terms of the agreement, Jamuna Bank will provide dedicated payroll banking facilities for MRA staff and install a state-of-the-art Cash Recycling Machine (CRM) at the MRA office. These initiatives are expected to streamline salary distribution, enhance cash management efficiency, and simplify access to banking services for MRA employees.
The partnership also highlights Jamuna Bank’s commitment to leveraging technology to improve operational efficiency and customer service. By integrating digital solutions such as CRM and payroll banking, the bank aims to make financial processes more convenient for institutional clients, reduce cash handling, and ensure greater transparency and speed in financial transactions.
Commenting on the initiative, Mr Atiur Rahman stated, “This partnership aligns with our broader strategy to promote digital transformation and to provide inclusive, efficient banking solutions for both government and corporate institutions.” Mr Mahdi added, “This initiative will enhance financial access for MRA employees and set a benchmark for future collaborations between regulatory bodies and financial institutions.”
Key Details of the MoU
| Aspect | Description |
|---|---|
| Signatories | A.K.M. Atiur Rahman (Jamuna Bank), Md. Nure Alam Mahdi (MRA) |
| Core Services | Payroll banking, Cash Recycling Machine (CRM) |
| Expected Benefits | Streamlined salary distribution, improved cash management efficiency |
| Focus Areas | Digital banking solutions, enhanced institutional operations |
| Involved Parties | Senior officials from Jamuna Bank and MRA |
This collaboration is viewed as a significant step in Jamuna Bank’s digitalisation strategy and its mission to provide inclusive institutional banking services. It demonstrates a proactive approach to modernising banking operations and promises to play a pivotal role in meeting the evolving needs of regulatory institutions in Bangladesh.