Eastern Bank PLC (Eastern Bank PLC) has signed a Memorandum of Understanding (MoU) with the Mongla Port Authority to introduce advanced digital banking services at Mongla Port, aiming to enhance the efficiency and transparency of financial transactions at the country’s second-largest seaport.
The agreement was signed recently at Mongla. Representing EBL, Md. Jabedul Alam, Head of Transaction Banking under the Corporate Banking Division, formalised the partnership. On behalf of the Mongla Port Authority, the MoU was signed by Dr A. K. M. Anisur Rahman, Member (Engineering and Development), according to a media release issued by the bank.
Under the terms of the agreement, EBL and MPA will jointly develop a comprehensive digital financial ecosystem to streamline port-related transactions. The initiative is designed to enable port users—including shipping agents, importers, exporters, and logistics service providers—to conduct financial operations seamlessly through EBL’s digital banking platform. This system is expected to improve payment processing, reduce paperwork, and support greater operational efficiency within the port’s administrative and commercial activities.
The collaboration aligns with Bangladesh’s broader push towards digitalisation in trade and financial services. By integrating modern banking technologies into port operations, the initiative aims to ensure secure, swift, and transparent transactions, thereby supporting trade facilitation and enhancing service delivery standards.
Senior officials from both organisations attended the signing ceremony. Among those present were Captain Mohammad Shafiqul Islam (G), PSC, BN, Harbour Master; Md. Kamal Hossain, Deputy Secretary and Director (Traffic); Md. Mahfuzur Rahman, Deputy Chief Finance and Accounting Officer; Md. Fazle Alam, Chief Audit Officer; and Lt. Col. Md. Arif Billah, PSC, EME, Chief Engineer (Mechanical and Electrical) of the Mongla Port Authority. Mohammad Arif Chowdhury, Head of Cash Management, Transaction Banking at EBL, also attended the event.
Key Details of the MoU
| Aspect | Description |
|---|---|
| Agreement | Memorandum of Understanding (MoU) |
| Parties Involved | Eastern Bank PLC and Mongla Port Authority |
| Location of Signing | Mongla, Bangladesh |
| Objective | Enhancing efficiency of financial transactions at Mongla Port |
| Core Initiative | Introduction of advanced digital banking services |
| Digital Features | Integrated payment solutions and streamlined financial processes |
| Beneficiaries | Port users, including traders, shipping agents, and logistics operators |
| EBL Signatory | Md. Jabedul Alam, Head of Transaction Banking |
| MPA Signatory | Dr A. K. M. Anisur Rahman, Member (Engineering and Development) |
The partnership underscores a strategic effort to modernise financial operations at Mongla Port, reinforcing its role in facilitating national and international trade through efficient and technology-driven services.