Prime Bank signs cash management deal with Samuda Group

Prime Bank PLC has entered into a strategic agreement with Samuda Group to provide comprehensive cash management solutions tailored to the organisation’s operational needs.

Faisal Rahman, additional managing director of the bank, and Mohammad Mustafa Haider, managing director of Samuda Group, signed the agreement at the bank’s corporate office in Gulshan, Dhaka recently, according to a press release.

Under the partnership, Samuda Group will utilise Prime Bank’s omni-digital platform, PrimePay, to execute a wide range of domestic disbursements.

The group will also leverage the bank’s extensive nationwide branch network to efficiently manage sales collections, supported by robust MIS reporting.

PrimePay, the bank’s advanced digital platform, enables clients to initiate various payments seamlessly while ensuring high standards of security and transparency.

The platform supports both electronic and paper-based transactions, including RTGS, BEFTN, fund transfers, NPSB and MFS transfers, as well as cheque and pay order issuance with digital signatures.

Clients can also conveniently settle duties, taxes, VAT and utility bills through PrimePay.

Sajid Rahman, area head of corporate and institutional banking of the bank, and Mohammad Akramuzzaman, chief financial officer of Samuda Group, along with senior officials from both organisations, were also present at the signing ceremony.