Prime Bank, Central Women’s University sign MoU to expand academic banking services

Prime Bank PLC has partnered with Central Women's University (CWU) to provide technology-driven banking services to the institution, its students, faculty members, administrative staff and guardians.

The memorandum of understanding (MoU) was signed under Prime Bank's education-focused initiative, "PrimeAcademia", according to a press release.

Under the partnership, the university community will receive automated tuition fee collection, institutional business accounts, payroll management, special savings accounts, need-based loan facilities and priority credit card services.

The agreement will also provide various non-banking and skill-development opportunities.

Prime Bank Senior Vice President and Head of Financial Inclusion and School Banking Division M M Mahbub Hasan and Central Women's University Vice Chancellor Dr Perween Hasan formally signed the agreement on behalf of their respective institutions.

Prime Bank Senior Executive Vice President and Head of Liability and Women Banking Division Shaila Abedin and Dr Perween Hasan exchanged the signed MoU at a recent ceremony.

Central Women's University Registrar Elias Ahmed and senior officials from both organisations also attended the event.

M M Mahbub Hasan discussed Prime Bank's specialised banking solutions for the university community.

He said developing financial services tailored to the education sector's needs, extending beyond traditional banking, had become essential.

Hasan also stressed the importance of access to financial services, financial literacy and customer-friendly digital solutions.

Prime Bank said it viewed the education sector as an important area for financial inclusion.

Through the partnership, the bank aims to simplify the university's financial management while expanding access to banking services for its teachers, staff, students and guardians.

Through PrimeAcademia, the bank also seeks to strengthen the link between classrooms and financial systems.

The initiative is expected to improve students' financial capability and understanding of money management while ensuring smooth and accessible banking services for faculty members, staff, guardians and institutions.

PrimeAcademia emphasises the integration of institutional banking, personal financial management and financial literacy into the education ecosystem.

Prime Bank said the initiative would contribute to building a more inclusive and effective financial environment within the education sector.