Prime Bank, Sandhani Group team up for financial, business services

Prime Bank PLC has signed a memorandum of understanding (MoU) with Sandhani Group to build a strategic cross-industry partnership aimed at creating mutual business opportunities and offering better financial and corporate benefits to their stakeholders.

The partnership will draw on Prime Bank’s banking ecosystem and Sandhani Group’s presence across healthcare, investment, higher education services and various financial services, according to a press release.

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Shaila Abedin, senior executive vice-president and head of liability and women banking at the bank, and Mahmudul Bari, group adviser of the group, signed the MoU at the bank’s head office in Dhaka yesterday, according to the press release.

Under the deal, Prime Bank will offer banking solutions to eligible Sandhani Group entities and their employees, clients and students. These include multi-channel fee collection, institutional internet banking through Prime Pay, payroll solutions, financing facilities, digital banking services, savings products, education-related financial services and overseas education support.

The bank will also explore financial literacy initiatives, skill development programmes, and campus ambassador and internship opportunities.

The two sides will further explore collaboration in bancassurance, insurance solutions, institutional investment, mutual fund distribution, wealth management, capital market investment and investment banking services.

M M Mahbub Hasan, senior vice-president and head of financial inclusion and school banking at the bank; Mamur Ahmed, senior executive vice-president and head of distribution; Miah Mohammad Rabiul Hasan, executive vice-president and head of wealth management, bancassurance and remittance; Joarder Tanvir Faisal, executive vice-president and head of consumer assets and cards; and Hasina Fardous, senior vice-president and head of payroll banking, attended the programme.

Among others, Mir Ariful Islam, managing director and CEO of Sandhani Asset Management Limited; Md Tanvir Islam, chief investment officer of the company; and Md Mizanur Rahman, company secretary of Sandhani Life Insurance, were also present.