Shimanto Bank signs MoU with Trust And Pay

Shimanto Bank PLC has signed a memorandum of understanding (MoU) with Trust And Pay Limited (TAP), a mobile financial service (MFS) app launched by Trust Axiata Digital Limited, a subsidiary of Trust Bank PLC.

Mohammad Azizul Hoque, managing director and chief executive officer (current charge) of Shimanto Bank PLC, and SM Akram Sayeed, chief executive officer of Trust And Pay Limited, signed the MoU at the bank’s head office in Dhaka recently, according to a press release.

Under the MoU, Shimanto Bank customers will be able to transfer funds from their bank accounts to Trust And Pay (TAP) accounts and vice versa.

Md Sahidul Islam, head of business at Shimanto Bank; Manzur Maswood, head of information technology; Sharif Zahirul Islam, head of cards and alternative delivery channels (ADC); and AKM Ahasan Kabir, head of information technology at Trust Bank PLC, along with other senior officials from both institutions, were also present.