BRAC Bank has entered into a strategic partnership with SMC Enterprise Limited, aiming to streamline its nationwide receivable operations. This collaboration introduces a modern cash management solution designed to simplify collections, accelerate reconciliation, and enhance transparency across SMC’s distribution network.

Under this partnership, SMC Enterprise will utilise BRAC Bank’s Virtual Account system to collect payments from distributors in real-time. This will ensure greater accuracy in receivables and significantly reduce manual intervention in the process.

Additionally, SMC will process its payments through BRAC Bank’s digital banking platform, CORPnet. This brings collections and disbursements into a unified digital interface, thus enhancing operational efficiency and providing greater control over financial transactions.

The agreement was formalised at BRAC Bank’s headquarters on November 6, as confirmed by a press release. Key figures from BRAC Bank attending the event included Managing Director and CEO Tareq Refat Ullah Khan, Deputy Managing Director and Head of Wholesale Banking Md Shaheen Iqbal, Head of Transaction Banking AKM Faisal Halim, Head of Commercial Banking ATM Zamal Uddin, and Unit Head of Local & Global Corporate Transaction Banking Musabbir Ahmed.

In his address, Tareq Refat Ullah Khan said, “BRAC Bank believes that strong businesses are built on strong financial ecosystems. Our digital transaction banking solutions are designed to eliminate friction, enhance transparency, and create tangible value for organisations like SMC, which play a crucial role in delivering essential services across Bangladesh. This partnership demonstrates how technology-led banking can foster agility and operational discipline for modern enterprises.”

Representatives from SMC Enterprise at the ceremony included Managing Director Sayef Uddin Nasir, Chief Financial Officer Abul Bashir Khan, General Manager Chandra Nath Mandal, and Deputy General Manager Mohammad Tanvir Hossain.