Bank Asia signs MoU with Akij for EV financing

Bank Asia PLC has signed a memorandum of understanding (MoU) with Akij Renewable Energy & Automobiles Ltd to offer auto loan facilities to the bank’s customers.

Md Zahed Chowdhury, head of the asset retail banking division at the bank, and Sayed Joynul Abedin, chief executive officer of operations at the company, signed the MoU at a ceremony held at Bank Asia Tower in Karwan Bazar, Dhaka recently, according to a press release.

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Under the partnership, Bank Asia will provide convenient auto loan facilities to individual customers for purchasing electric vehicles from Akij Renewable Energy & Automobiles Ltd.

The partnership is expected to simplify access to auto financing and help individuals and families seeking quality electric vehicle solutions.

At the same time, it will strengthen the relationship between the two institutions and contribute to the growth of Bangladesh’s automotive and financial services sectors.