Modhumoti Bank PLC on Monday signed an agreement with MAY International Trade Services Limited, said a press release.
The agreement will allow utilisation of 鈥楳aritime Data and Analytics Platform,鈥� the first-ever solution developed locally by a Bangladeshi company, it said.
Representing Modhumoti Bank, managing director and chief executive officer Md Shafiul Azam, additional managing director Shahnawaj Chowdhury, deputy managing director and CBO Arab Fazlur Rahman and SEVP and international division head Fahmida Saeed Saki were present.
On behalf of MAY International Trade Services, managing director and chief executive officer Syed Aminul Kabir and deputy managing director Layla Kowkine Ara attended the signing ceremony.
With access to real-time vessel movements, shipping routes and port activities, the bank can enhance its due diligence processes, minimise trade-related risks and reduce exposure to fraudulent activities, said the release.