NRBC Bank signs MoU with May International to enchance trade services

NRBC Bank PLC has signed a memorandum of understanding (MoU) with May International Trade Services Limited, a technology-driven platform specialising in maritime data and product price analytics in Bangladesh, to modernise its foreign trade banking services, making them faster, more efficient, and more secure.

Md Touhidul Alam Khan, managing director and CEO of NRBC Bank, and Syed Aminul Kabir, managing director and CEO of May International, signed the agreement at the bank's head office in Dhaka recently, according to a press release.

Under the MoU, NRBC Bank will adopt advanced technology to access real-time vessel movements, container tracking, and verification of imported goods' prices.

This initiative is expected to strengthen the bank's due diligence process and reduce risks associated with foreign trade transactions.

Through the partnership, NRBC Bank aims to enhance its international banking services and deliver greater value to clients engaged in foreign trade.

Mohammad Abdul Qaium Khan, deputy managing director and chief operating officer of the bank; Hasnat Reza Mohibbul Alam, head of the international division; and Layla Kowkain Ara, deputy managing director of the financial advisory firm, along with other senior officials from both organisations, were also present.