Eastern Bank, bKash ink deal for online payment solution

Eastern Bank recently signed an agreement on an online payment solution with host-to-host connectivity through EBLConnect with mobile financial service (MFS) provider bKash.

Ali Reza Iftekhar, managing director and CEO of Eastern Bank, and Kamal Quadir, chief executive officer of bKash, inked the deal at the former's head office in Gulshan, read a press release.

Under this agreement, EBLConnect, a home-grown internet banking platform of the bank, will facilitate different payments through bKash (single and/or bulk payment instructions) without any manual intervention, ensuring seamless and efficient transactions.

"Going forward, collaborations like this will create greater opportunities for introducing effective and advanced financial products and services," said Quadir.

"Today's agreement demonstrates bKash's confidence in the EBLConnect platform as well as our overall services. With this partnership we are embarking on a new level of cooperation," said Iftekhar.

Among others, Moinuddin Raghir, chief financial officer of MFS provider, and Ahmed Shaheen, additional managing director of the bank, Riad Mahmud Chowdhury, deputy managing director and head of corporate, and Md Jabedul Alam, head of transaction banking and senior management, were also present.