Prime Bank, SMC Enterprise sign cash management agreement
Prime Bank PLC has signed an agreement with SMC Enterprise Ltd to provide comprehensive cash management services via the bank's PrimePay digital platform.
The signing ceremony took place recently at Prime Bank's corporate office in Dhaka.
Under the agreement, SMC Enterprise Ltd will utilise Prime Bank's nationwide branch network to manage sales collections and initiate all types of domestic disbursements through PrimePay — the bank's omni digital platform. The arrangement also includes an integrated MIS reporting and reconciliation system to enhance operational efficiency and transparency.
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Hassan O Rashid, Chief Executive Officer of Prime Bank PLC, and Sayef Nasir, Managing Director of SMC Enterprise Ltd, signed the agreement on behalf of their respective organisations. Senior officials from both organisations were also present at the ceremony.
PrimePay enables corporate clients to manage a wide range of payments securely and efficiently, supporting both electronic and paper-based transactions, including RTGS, BEFTN, intra-bank fund transfers, NPSB, MFS wallet transfers, and the issuance of corporate cheques and pay orders with digital signatures. It also facilitates direct payment of duties, tax, VAT, and utility bills.
With advanced two-factor authentication and web-based connectivity, the platform offers anytime, anywhere access, ensuring faster turnaround times, lower operational costs, and enhanced transparency.
