Midland Bank signs MOU with Space Tech Holdings
Midland Bank, Space Tech Holdings Ltd. (SPACETECH), and XSpeed Autos Limited (XSPEED) signed a Memorandum of Understanding (MoU) at the bank's corporate head office in Gulshan 2.
SPACE TECH is a joint venture between Singapore and Bangladesh that focuses on property development and green-tech promotion in Bangladesh. XSPEED is a company established in Bangladesh that aims to bring investment and technology for electric vehicle products and industries from China into Bangladesh, with solutions for all aspects.
In the presence of Md Ahsan-uz Zaman, MD and CEO of the Bank, Mohammad Javed Tarek Khan, Head of Institutional Banking Division of Midland Bank, and Mr. Ye Liang, CEO and Managing Director of SPACETECH and XSPEED, signed the MoU on behalf of their respective organisations.
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Under the MoU, Space Tech Holdings Ltd. and XSpeed Autos Limited will use the robust online Cash Management solution of MDB's "Midland Cash Management (MCM)" application to conduct their daily business banking and cash management activities nationwide.
Prashanta Kumar Saha, Head of Midland Bank's Corporate Liability Unit, Ms Gong Li, International Trade and Finance Analyst, Space Tech Holdings Ltd., and Mr Syed Syful Islam, Accounts Manager-Finance, Space Tech Holdings Ltd. and Xspeed Autos Limited, were also present, along with other Executives and Officers of both organisations.
