Written by The Banking Post
Prime Bank PLC and bKash Limited have signed a strategic agreement to roll out a cutting-edge automated cash management solution aimed at streamlining bKash’s daily financial operations.
According to a media release, the new partnership will enable bKash’s distributors and agents to seamlessly transfer funds between their bKash channel accounts and designated bank accounts for both e-money creation and redemption. The transactions will be facilitated through an API-based validation system, available 24/7 — including weekends and public holidays — ensuring uninterrupted access throughout the year.
The comprehensive solution will also feature automated reconciliation and customized reporting tools, further enhancing operational efficiency and financial transparency for bKash’s vast distribution network.
As part of the agreement, bKash will leverage PrimePay — Prime Bank’s omni-digital platform — to initiate all types of domestic disbursements via a secure host-to-host connectivity.
The signing ceremony took place on August 4 at Prime Bank’s head office. Faisal Rahman, Additional Managing Director of Prime Bank PLC, and Moinuddin Mohammed Rahgir, Chief Financial Officer of bKash, signed the agreement on behalf of their respective organizations.
The event was also attended by senior officials from both institutions, including Sajid Rahman, SEVP & Area Head-Dhaka, Corporate & Institutional Banking, and Md. Rashedul Husain, SVP, Cash Management of Prime Bank, along with Ali Ahmmed, Chief Commercial Officer, and Ahamed Ashraf Sharif, EVP & Head of Treasury, Finance & Accounts of bKash.
This partnership marks a significant step forward in digitizing Bangladesh’s financial ecosystem and demonstrates both institutions’ commitment to innovation and customer-centric solutions.
