Midland Bank signs deal with Shamadhan Services to facilitate money transfers

Midland Bank PLC has signed an agreement with Shamadhan Services Limited, an emerging digital financial service provider, to facilitate seamless money transfers between Shamadhan and Midland Bank accounts.

Md Zahid Hossain, deputy managing director of Midland Bank PLC, and Mohammad Anwar Hossain, chief operating officer of Shamadhan Services Limited, signed the agreement at the bank's head office in Gulshan-2, Dhaka recently, according to a press release.

Under the partnership, customers of both institutions will be able to transfer funds in real time between Shamadhan mobile wallets and Midland Bank accounts, ensuring greater flexibility, speed, and accessibility.

Nazmul Huda Sarkar, chief technology officer of the bank; Maruf Haider, executive vice-president; Ashrafur Rahman, relationship manager; Md Salah Uddin Tanvir, head of product and pricing at Shamadhan Services; and ABM Saiful Bari, head of business and strategy, were also present at the event, along with other senior officials from both organisations.