Jamuna Bank PLC has formalised a strategic partnership with the Microcredit Regulatory Authority (MRA) of Bangladesh through a recently signed Memorandum of Understanding (MoU), aimed at strengthening institutional collaboration and delivering modern, technology-driven banking services.
The agreement was signed by Mr. A. K. M. Atiqur Rahman, Deputy Managing Director and Chief Information Officer (CIO) of Jamuna Bank PLC, and Mr. Md. Nure Alom Mahadi, Executive Director of the MRA, representing their respective organisations. The signing ceremony was attended by senior officials from both institutions, underlining the significance of the collaboration.
Under the terms of the MoU, Jamuna Bank will provide dedicated payroll banking services for MRA employees and install a state-of-the-art Cash Recycling Machine (CRM) on MRA premises. These initiatives are expected to streamline salary disbursement, enhance cash management, and provide MRA officials and staff with greater banking convenience.
This partnership demonstrates Jamuna Bank’s ongoing commitment to leveraging technology to improve operational efficiency and customer experience. By integrating digital solutions such as CRMs and payroll banking, the bank seeks to simplify financial processes for institutional clients, reduce manual handling of cash, and enhance transparency and speed in financial transactions.
Speaking at the event, Mr. Rahman emphasised that the collaboration reflects Jamuna Bank’s broader strategy to foster digital transformation across all service channels, ensuring inclusive and efficient banking for corporate and government institutions alike. Mr. Mahadi expressed optimism that the arrangement would improve financial accessibility for MRA staff and set a benchmark for future partnerships between regulators and financial institutions.
Key Details of the MoU
| Aspect | Details |
|---|---|
| Signatories | A. K. M. Atiqur Rahman (Jamuna Bank) |
| Md. Nure Alom Mahadi (MRA) | |
| Main Services | Payroll banking, Cash Recycling Machine (CRM) |
| Expected Benefits | Smooth salary disbursement, efficient cash management |
| Focus Areas | Digital banking solutions, institutional efficiency |
| Stakeholders Involved | Senior officials of Jamuna Bank and MRA |
The collaboration marks a significant step in Jamuna Bank’s trajectory towards digitalisation and inclusive institutional banking, highlighting its proactive approach to modernising financial services while meeting the evolving needs of regulatory authorities in Bangladesh.