Prime Bank PLC has entered into an agreement with Square Toiletries Limited to provide a customised receivables management solution aimed at enhancing collection efficiency, reconciliation, and transparency across Square Toiletries’ nationwide distribution network.
Under this agreement, distributors of Square Toiletries across Bangladesh will make payments through unique Virtual Accounts, reads a press release.
This digitally enabled solution will allow automated identification and tracking of individual transactions, eliminating the need for manual matching of receivables and significantly reducing reconciliation time.
The system is expected to streamline Square Toiletries’ collection and reconciliation processes while providing greater visibility and transparency across its entire distribution network.
The agreement was exchanged on behalf of the respective organisations by Prime Bank PLC Area Head, Corporate & Institutional Banking Sajid Rahman, and Senior Vice President, Cash Management Md Rashedul Husain, alongside Square Toiletries Limited FCMA, Executive Director Md Golam Kibria and FCMA, Deputy General Manager Md Mobarak Hossain. Senior officials from both organisations were also present at the ceremony.
Through this partnership, Prime Bank PLC has reaffirmed its commitment to providing innovative and technology-driven cash management solutions that help corporate clients improve operational efficiency, strengthen financial visibility, and enhance their overall banking experience.
The initiative reflects Prime Bank’s continued focus on delivering customised digital banking solutions that address the evolving needs of businesses and support more efficient financial management across Bangladesh.
