Prime Bank PLC has formalised a strategic alliance with Hazrat Shah Ali Mohila College through a Memorandum of Understanding (MoU). This collaboration, executed under the bank’s PrimeAcademia initiative, is designed to integrate advanced financial infrastructure into the college’s operational framework, providing bespoke banking services to students, parents, and members of staff.
Strategic Objectives and Financial Integration
The partnership focuses on the digitisation of institutional financial processes. Central to this agreement is the implementation of an Automated Tuition Fee Collection system. This digital solution is intended to streamline the college’s administrative workload by providing a structured and efficient method for fee processing, thereby reducing the reliance on manual transactions.
Furthermore, the bank will provide specialised Institutional Business Accounts and Payroll Banking services. These provisions ensure that the institution’s corporate finances are managed through professional channels, while faculty and administrative staff receive dedicated support for salary disbursement and personal banking requirements.
Tailored Provisions for Stakeholders
Beyond institutional management, the MoU extends various financial benefits to the broader academic community:
For Employees and Faculty: Access to customized loan facilities and payroll solutions designed to meet the specific requirements of educational professionals.
For Parents: Provision of priority credit card options and exclusive savings products, facilitating easier management of educational expenses.
For the Institution: Enhanced financial inclusion through the bank’s dedicated School Banking and Liability units.
Key Participants in the Agreement
The formal signing ceremony featured senior leadership from both entities, underscoring the significance of the partnership.
| Name | Designation | Organisation |
| M. Nazeem A. Choudhury | Additional Managing Director & Head of Consumer & SME Banking | Prime Bank PLC |
| Rana Ferdous Ratna | Principal | Hazrat Shah Ali Mohila College |
| Shaila Abedin | SEVP & Head of Liability & Women Banking | Prime Bank PLC |
| M M Mahbub Hasan | SVP & Head of Financial Inclusion & School Banking | Prime Bank PLC |
About the PrimeAcademia Initiative
PrimeAcademia is Prime Bank’s flagship educational banking platform. It serves as a comprehensive financial ecosystem for academic institutions in Bangladesh. By bridging the gap between traditional banking and the specific logistical needs of schools and colleges, the initiative aims to foster a more transparent and technologically advanced educational environment.
The inclusion of Hazrat Shah Ali Mohila College into this network signifies a commitment to expanding financial literacy and digital banking adoption within female-led educational spaces. The ceremony was attended by various senior executives from both organisations, ensuring a collaborative approach to the implementation of these new financial services.