Midland Bank PLC has entered into a strategic partnership with TallyKhata, digital bookkeeping and payment platform, aiming to digitally empower millions of small businesses nationwide, says a press release.
The partnership, formalised through a Memorandum of Understanding (MO), is set to offer innovative financial solutions, including digital onboarding, transaction accounts, savings, and credit, specifically tailored for traders and entrepreneurs, the release adds.
Under this strategic alliance, TallyKhata will leverage Midland Bank鈥檚 advanced API and banking infrastructure to provide account opening and seamless digital transactions via TallyKhata鈥檚 digital wallet, TallyPay鈥攁 Payment Service Provider (PSP) licensed by Bangladesh Bank. The collaboration focuses on simplifying access to critical banking services, thereby significantly benefiting the underserved MSME segment across Bangladesh.
The MoU signing ceremony was held at Midland Bank鈥檚 Head Office. Representing their organisations, Mohd Javed Tarek Khan, Head of Institutional Banking Division of Midland Bank PLC and Shahadat Khan, CEO of TallyKhata, signed the MoU.
Senior executives from both institutions, including Md Abu Taleb (Chief Business Officer), Muhammad Ewald Hossain (Chief Growth Officer), Mohammad Zahirul Islam (Head of Strategy) from TallyKhata, and Md Zahid Hossain, Deputy Managing Director, Md Nazmul Huda Sarkar CTO, Md Rashed Akter, Head of Retail Distribution Division & Chief Bancasurance Officer, and Mohammad Hassibur Rahman, Head of Cash Management from Midland Bank, were present.
Expressing his enthusiasm, Shahadat Khan, CEO of TallyKhata, said, 鈥榃e are delighted to collaborate with Midland Bank, an innovative, next-generation financial institution. This partnership significantly strengthens our ability to reach and serve the MSME sector, fostering greater financial inclusion across Bangladesh.鈥�
Md Zahid Hossain, Deputy Managing Director of Midland Bank PLC, stated, 鈥極ur partnership with TallyKhata represents a meaningful step toward leveraging digital innovation for inclusive financial growth. Together, we aim to bring millions of small businesses into the formal financial ecosystem.鈥�
Key partnership objectives include account-to-account (A2A) transfers, merchant virtual account tagging, network integration (FT, BEFTN, RTGS, NPSB) for payments, card products, EMI solutions, agent banking, and digital nano loan and savings solutions.
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