BRAC Bank, TK Group roll out virtual accounts for dealer collections

BRAC Bank and TK Group have entered into a Transaction Banking Agreement to deploy an advanced dealer collection solution using Virtual Accounts, marking a significant step in digitising corporate cash management in Bangladesh.

Under the partnership, BRAC Bank will assign unique Virtual Accounts to each dealer in TK Group's nationwide network. Payments will flow directly into the mapped accounts, enabling real-time reconciliation, faster fund availability, and tighter control over receivables — driving greater efficiency and transparency across the collection process.

The agreement was signed at BRAC Bank's Head Office by Shaheen Iqbal, CFA, Deputy Managing Director (DMD) and Head of Treasury, FI, Corporate and Institutional Banking; Md Sheikh Mohammad Ashfaque, DMD and Head of Branch Distribution Network of BRAC Bank; and Md Shafiul Ather, Business Director, TK Group.

Also present were Md Azizur Rahaman Reagan, Senior Manager, TK Group; and from BRAC Bank: AKM Faisal Halim, Head of Transaction Banking; Khaled Al Fesani, Area Head–3; Md Sadekul Hoque, Head of Relationship Unit 9; Md Masfikuzzaman, Unit Head, Transaction Banking; Ratan Podder, Relationship Manager, Transaction Banking; and Nazmul Hoque Mozumder, Relationship Manager, Corporate and Institutional Banking.

BRAC Bank said the collaboration underscores its commitment to digital transformation in corporate banking, offering technology-led cash management that gives businesses speed, accuracy, and control over financial operations.