Jamuna Bank signs MoU with National Pension Authority

Jamuna Bank PLC has entered into a memorandum of understanding (MoU) with the National Pension Authority (NPA) to facilitate the collection of contribution instalments for various schemes under the Universal Pension Scheme.

The bank is entitled to commence its collection services shortly after the MoU signing.

Mirza Elias Uddin Ahmed, managing director and CEO of the bank, and Md Mohiuddin Khan, executive chairman of the NPA, at a conference hall of the finance division under the Ministry of Finance in Dhaka on Monday, according to a press release by the bank.

Md Khairuzzaman Mozumder, secretary of the finance division, attended the event as the chief guest.

This collaboration seeks to streamline operations and broaden the reach of the Universal Pension Scheme (UPS) by leveraging Jamuna Bank's extensive network of branches, sub-branches, agent banking outlets and digital platforms.

Under the terms of the MoU, Jamuna Bank will serve as a principal service and collection hub, facilitating enrolment, contribution deposits, and account management for UPS subscribers.

The strategic partnership empowers Jamuna Bank PLC to collect pension instalments via both digital and in-person banking channels, thereby enhancing accessibility and convenience for citizens across the country.