BRAC Bank will provide digital payment and financing services to distributors, dealers, suppliers and contract farmers across ACI’s business network, extending credit and cash management facilities across the conglomerate’s value chain.
The services will cover ACI and its subsidiaries under an agreement signed by the two organisations at ACI headquarters on November 4.
Under the arrangement, BRAC Bank will facilitate digital cash collection through Bangla QR, Smart POS and designated payment channels for ACI’s distributors and dealers.
Eligible borrowers will also be able to access digital financing through the bank’s SHAFOLLO platform, which offers a streamlined process with automated disbursement.
The bank will provide tailored financing for distributors’ working capital and inventory needs, alongside supply chain facilities such as inventory financing, factoring and reverse factoring to support ACI’s suppliers and business partners.
It will also introduce virtual account-based collection facilities for distributors and dealers under its cash management services.
The agreement includes agricultural credit lines and specialised financing for contract farmers across ACI’s agricultural value chain.
The two organisations will explore further initiatives, including financial pilots and banking solutions tailored to changing business requirements.
BRAC Bank Managing Director (MD) and CEO Tareq Refat Ullah Khan said the arrangement would combine digital payments, tailored financing and cash management to improve operational efficiency, strengthen business linkages and expand access to finance for distributors, suppliers and agricultural partners.
ACI MD Arif Dowla said the services would improve access to finance across the company’s distribution and agricultural networks, strengthen business operations and create opportunities for sustainable growth.
The two MDs signed the agreement on behalf of their respective organisations. ACI Chief Financial Officer Md Monir Hossain Khan and Director of Treasury Md Abu Hasan Zaman attended the signing.
BRAC Bank Additional Managing Director (AMD) and Head of SME Banking Syed Abdul Momen, AMD and Head of Wholesale Banking Md Shaheen Iqbal, Deputy Managing Director (DMD) and Head of Retail Banking Md Mahiul Islam, and DMD and Head of Corporate, Commercial and Institutional Banking Md Asif Bin Idrish were also present.
BRAC Bank serves more than two million customers through its SME, corporate and retail banking operations.
Its network includes 312 branches and sub-branches, 330 ATMs, 446 SME unit offices and 1,119 agent banking outlets, supported by more than 14,000 employees, according to the bank.
