City Bank, bKash sign deal to enable bKash Distributors  to enjoy working capital finance

City Bank, bKash sign deal to enable bKash Distributors to enjoy working capital finance

City Bank and bKash Limited, the largest mobile financial service provider in the country announced a strategic partnership, enabling bKash distributors to enjoy a working capital funding for short tenure.

Under this agreement, City Bank will assess the working capital requirement of bKash Distributors pan-Bangladesh and sanction credit for a short term. Moreover, City Bank will enable bKash Distributors to utilize funds 24/7 even in weekends, bridge holidays and long festival holidays. City Bank had launched its distributor finance program from June 2019. Till then City Bank has partnered with reputed conglomerates and catering the working capital requirement of their distributors across all regions of Bangladesh. City Bank has emphasized and maintained upright service quality which has resulted into customer delight.

In this connection, Kamrul Mehedi, Head of Small Business of City Bank and Moinuddin Mohammed Rahgir, Chief Financial Officer of bKash have signed the agreement in presence of Mashrur Arefin, Managing Director & CEO of City Bank and Kamal Quadir, Chief Executive Officer of bKash Limited at City Bank Head Office on January 16, 2020.

The agreement signing ceremony was also attended by Sheikh Mohammad Maroof, Additional MD, Mohammad Mahbubur Rahman, DMD and CFO, Md. Abdul Wadud, DMD and Head of Commercial and Medium Business, Mahia Juned, DMD and COO, Md. Ashanur Rahman, Chief Economist and Country Business Manager, Md. Zabid Iqbal, Chief Risk Officer of City Bank and Mizanur Rashid, Chief Commercial Officer, Ahamed Ashraf Sharif, Head of Treasury, Muhammad Arifur Rahman, Finance Controller, Suman Chandra Saha, General Manager, Treasury Operations, of bKash and other senior officials from both the organizations.