Prime Bank PLC has formalised a strategic partnership with Quality Feeds Limited, one of Bangladesh’s foremost animal feed manufacturers, through the signing of two comprehensive agreements designed to provide integrated payroll banking and advanced cash management services.
The signing ceremony took place at Prime Bank’s corporate office in Dhaka, with M Nazeem A Choudhury, Deputy Managing Director of Prime Bank, and Md Basir Rahman, Director of Finance and Risk Management at Quality Feeds, alongside Md Safir Rahman, Director of Corporate and Human Resources, officiating the agreements. Senior Executive Vice-President Mamur Ahmed, other senior executives from Prime Bank, and Md Aminul Islam, Assistant Director of Finance at Quality Feeds, also attended the event.
Under the agreements, Quality Feeds’ employees will benefit from dual-currency debit cards, customised loan and credit card facilities, and access to a broad range of consumer banking products and services at preferential terms. Prime Bank’s extensive branch network and its digital platform, PrimePay, will enable the company to execute all domestic payroll disbursements efficiently, as well as manage nationwide sales collections with greater speed and accuracy.
A robust management information system (MIS) reporting and reconciliation framework will also be implemented, significantly enhancing operational transparency and efficiency across both organisations. The partnership represents a strategic alignment aimed at streamlining financial operations while offering employees enhanced convenience and tailored financial solutions.
Key Features of the Partnership
| Feature | Description |
|---|---|
| Payroll Solutions | Nationwide disbursement via PrimePay platform |
| Employee Benefits | Dual-currency debit cards, preferential loans, credit cards |
| Cash Management | Streamlined sales collection and fund transfer |
| Operational Efficiency | MIS reporting and reconciliation system |
| Accessibility | Extensive branch network for in-person services |
Commenting on the collaboration, Prime Bank’s M Nazeem A Choudhury stated that the agreement reflects the bank’s commitment to delivering integrated financial solutions to corporate clients while enhancing employee convenience. “Our partnership with Quality Feeds will set a benchmark for payroll and cash management services in Bangladesh,” he added.
Md Basir Rahman of Quality Feeds highlighted that the alliance would ensure timely salary disbursement, improved liquidity management, and enhanced employee satisfaction, reinforcing the company’s commitment to modernising its financial operations.
This agreement positions both organisations at the forefront of digital and conventional banking integration, strengthening operational capabilities and providing scalable solutions for future growth.