Al Arafah Islami Bank, the country鈥檚 leading Sharia-compliant bank, and ACI Godrej Agrovet Private Limited, have recently signed a Memorandum of Understanding.
Under the agreement, ACI Godrej will collect sales prices from its distributors through the bank鈥檚 branches, sub-branches and other distribution channels, connected through an Application Programming Interface, said a press release on Monday.
This agreement will ensure more effective and secure collection management for corporate customers through innovative use of banking technology, the release said.聽
The bank鈥檚 deputy managing director Md Abdullah Al Mamun, and ACI Godrej chief financial officer Md Mohiuddin, signed the agreement on behalf of their respective organisations at the bank鈥檚 head office.
The agreement signing ceremony was attended by the bank鈥檚 deputy managing director Mohammed Hossain, vice president Md Zahid Hossain, senior assistant vice president Md Emdadul Haque, assistant vice president Abu Kawsar and senior officials of both organisations.