AB Bank strikes deal with National Polymer Industries

AB Bank has signed a collection services agreement with National Polymer Industries, a manufacturing company in the unplasticised polyvinyl chloride (UPVC) sector of the country, in a bid to expedite cash transactions to its dealers across the country.

UPVC is a low-maintenance building material used as a substitute for painted wood, mostly for window frames and sills when installing double glazing in new buildings, or to replace older single glazed windows.

Iftekhar Enam Awal, head of business of the bank, and Abu Zafar, chief financial officer of the home compliance and furniture manufacturing company, penned the deal at the bank's head office in Dhaka today, according to a press release.

Mahmudul Alam, president and managing director (current charge) of the bank, KM Mohiuddin Ahmed, deputy managing director and chief financial officer, Md Aminur Rahman, deputy managing director and chief operating officer, and Mohammad Masud Rana, head of corporate finance of the home compliance and furniture manufacturing company, along with other officials of both organisations were present.