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BRAC Bank to provide services to investors at Bangabandhu Sheikh Mujib Industrial City

BRAC Bank has recently signed a Memorandum of Understanding (MoU) with Bangladesh Export Zones Authority (BEZA) for setting up a branch at the Bangabandhu Sheikh Mujib Industrial City, a press release said. 

The signing ceremony took place at the city’s Pan Pacific Sonargaon Hotel on Monday, December 14, 2020.

Principal Secretary of the Prime Minister’s Office, Dr. Ahmad Kaikaus was present as the chief guest at the event. 

Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate Banking of BRAC Bank; Sheikh Yusuf Harun, Secretary, Ministry of Public Administration; Maksudur Rahman Patwary, Senior Secretary, Ministry of Land were special guests at the event. 

Paban Chowdhury, (Secretary) Executive Chairman of BEZA chaired the discussion.

BRAC Bank, through this new branch, will provide all banking services and customized financial services to the organizations in Bangabandhu Sheikh Mujib Industrial City, one of the biggest export zone hubs by BEZA that has already become a focus of interest of many local and foreign investors. 

An agreement was also signed between bKash and BEZA to expedite the transaction of BEZA’s One-Stop Service (OSS) Center.

bKash, a BRAC Bank subsidiary and the largest mobile financial service provider in Bangladesh, will expedite the operation of BEZA’s OSS center and ensure a fast payment system for organizations to pay the OSS service charges through bKash app. 

In the event, BEZA also signed a land-leasing agreement with CCECC, a Chinese company that will build an export-oriented steel structure and ready-mix concrete industry at Bangabandhu Sheikh Mujib Industrial City. The company will invest USD 15.97 million in the 10 acres of land, which will provide employment to about 350 people.

On the other hand, BEZA also allotted 8 acres of land to Jiuhong Medical Instrument Co., Ltd. that has proposed an investment of USD 12.72 million and will provide employment to about 1,500 people. A leasing agreement was also signed between BEZA and Jiuhong.

BEZA is working to build a modern and full-fledged industrial city on about 33,000 acres of land in Sitakunda, Mirsarai, and Sonagazi Upazilas in the Chattogram region, dubbed ‘Bangabandhu Sheikh Mujib Industrial City’.

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