Prime Bank PLC and bKash Limited have entered into a strategic partnership to streamline bKash’s daily transactions through a fully automated digital cash management service.
With this partnership, bKash distributors and agents can now transfer funds between their bKash channel accounts and designated bank accounts for both creating and redeeming e-money. The process will be API-based and available 24 hours a day, seven days a week, including weekends and holidays.
This advanced cash management service also includes automated reconciliation and customized reporting features for greater operational efficiency.
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Moreover, bKash will use PrimePay, Prime Bank’s omni-digital platform, to carry out all types of domestic disbursements through a host-to-host system integration.
The agreement was signed on August 4 at Prime Bank’s Head Office. Faisal Rahman, Additional Managing Director of Prime Bank, and Moinuddin Mohammed Rahgir, Chief Financial Officer of bKash, represented their respective organizations.
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The signing event was also attended by Sajid Rahman, SEVP and Area Head-Dhaka, Corporate and Institutional Banking, and Md Rashedul Husain, SVP, Cash Management from Prime Bank. From bKash, Ali Ahmmed, Chief Commercial Officer, and Ahamed Ashraf Sharif, EVP and Head of Treasury, Finance and Accounts, were present, along with other senior officials from both companies.