Mercantile Bank signs mou to support universal pension scheme
Mercantile Bank PLC has signed a Memorandum of Understanding (MoU) with the National Pension Authority to streamline the collection process for the Universal Pension Scheme (UPS), strengthening efforts to expand pension coverage across Bangladesh.
The signing ceremony was held at the Department of Finance, Ministry of Finance, Bangladesh Secretariat. Dr Khairuzzaman Mozumder, Secretary of the Finance Division, Ministry of Finance, attended the event as Chief Guest.
Matiul Hasan, Managing Director of Mercantile Bank PLC, and Md Mohiuddin Khan, Executive Chairman of the National Pension Authority, signed the MoU on behalf of their respective organisations.
Under the agreement, Mercantile Bank will facilitate the collection of pension instalments for various schemes under the UPS through its full suite of digital and conventional banking platforms. These include the bank's online banking service, mobile banking platform "MyCash", digital banking app MBL Rainbow, agent banking network, internet banking, and other delivery channels.
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Speaking at the event, senior officials emphasised the importance of banking sector participation in making pension services more accessible to citizens across the country, including those living abroad.
The ceremony was attended by the managing directors of 17 banks, as well as senior government and banking officials. The Executive Chairman of the National Pension Authority chaired the session.
This partnership reflects Mercantile Bank's continued commitment to supporting national financial inclusion initiatives and enabling more citizens to secure their futures through accessible, tech-enabled pension services.
