Midland Bank PLC has signed a memorandum of understanding with Sonic (Bangladesh) Ltd to provide cash management services aimed at improving financial operations, the bank said in a press release. The agreement was signed on 29 April, with Midland Bank Managing Director and CEO Imtiaz U Ahmed and Sonic (Bangladesh) Director Su Yongbao signing on behalf of their organisations.
Under the deal, Sonic (Bangladesh) Ltd will adopt Midland Bank’s digital platform Midland Cash Management (MCM) to streamline day-to-day banking transactions, fund management and overall financial processes.
The partnership is designed to support operational efficiency for Sonic (Bangladesh), a 100 per cent export-oriented manufacturer of toy models engaged in manufacturing, trading and related services, contributing to Bangladesh’s industrial sector.
Officials present at the signing from Midland Bank included SEVP and Head of Institutional Banking Division Mohd Javed Tarek Khan, VP and Unit Head IBD Unit-5 Muhammad Majidul Haq Patwary, and SAVP and Unit Head IBD Unit-7 Khondker Khaled Shams.
From Sonic (Bangladesh), attendees included Chief Marketing Officer Dominic T K Ho, Account Manager Huang Rong, General Manager Nelson Liu, Admin Manager Deng Chao Wen, Assistant Manager Finance Md Showayeb Ahamed, and Senior Accounts Officer Md Shahanur Alam.
Senior officials from both organisations attended the ceremony and expressed optimism that the agreement would enhance efficiency and strengthen long-term business collaboration, according to the press release.
