Prime Bank signs payroll banking, cash management deals with Quality Feeds

Prime Bank PLC recently signed two agreements with Quality Feeds Limited, a leading Bangladeshi animal feed manufacturer, to provide comprehensive payroll banking and cash management services.

M Nazeem A Choudhury, deputy managing director of Prime Bank PLC; Md Basir Rahman, director of finance and risk management at Quality Feeds Limited; and Md Safir Rahman, director of corporate and human resources, signed the agreements at the company's corporate office in Dhaka, according to a press release.

Under the agreements, employees of Quality Feeds will enjoy payroll banking facilities, including dual-currency debit cards, customised loan and credit card facilities, and a wide range of consumer banking products and services on preferential terms.

Quality Feeds will also avail comprehensive cash management solutions from Prime Bank.

The company will use PrimePay, the bank's omni-channel digital platform, to initiate all types of domestic disbursements and manage nationwide sales collections through Prime Bank's extensive branch network.

The arrangement also includes a robust MIS reporting and reconciliation system to enhance efficiency and transparency.

Mamur Ahmed, senior executive vice-president and head of distribution network at the bank; Sajid Rahman, area head of corporate and institutional banking; Md Manzur Ahmed Sarker, senior vice-president and team head of corporate and institutional banking; Md Rashedul Husain, senior vice-president (cash management); and Hasina Fardous, vice-president and head of payroll banking, were present.

Md Aminul Islam, assistant director of finance and accounts at Quality Feeds; Md Bayazid Hossain, senior general manager; and Md Abdullah Al-Mamun, deputy general manager; along with other senior officials from both organisations, were also in attendance.