BRAC Bank joins BIDA to provide One Stop Banking Service to foreign investors

The private sector’s leading banking company, BRAC Bank has embarked on a strategic partnership with the Bangladesh Investment Development Authority (BIDA) in order to provide One Stop Banking Services to foreign investors. 

A BRAC bank statement issued for the press on Thursday (July 26) claimed that the collaboration aims to facilitate foreign direct investment and foster economic growth in the country. 

Through the strategic partnership, BRAC Bank will offer foreign investors the most modern and efficient banking services. Among the array of services, investors will have the convenience of opening an online bank account through the streamlined One Stop Service (OSS) Platform administered by BIDA.

The One Stop Banking Service will provide foreign investors with a seamless experience, eliminating hurdles and reducing processing time. By leveraging BIDA‍‍`s OSS Platform, BRAC Bank aims to ensure a hassle-free process for foreign investors, allowing them to focus on their investment objectives while leaving the banking-related procedures to the expert financial institution.

To this effect, a Memorandum of Understanding (MoU) was signed between BRAC Bank and BIDA at the latter’s office in the capital on July 23’ 2023. 

Tareq Refat Ullah Khan, Deputy Managing Director & Head of Corporate Banking, BRAC Bank, and Engr. Jibon Krishna Saha Roy, Director General, BIDA, signed the agreement, solidifying their commitment to the joint initiative.

The signing ceremony was graced by the presence of Lokman Hossain Miah, Executive Chairman (Senior Secretary), BIDA; Dr. Khandoker Azizul Islam, Secretary (Additional Secretary), BIDA and Ms. Mohsina Yasmin, Executive Member (International Investment Promotion), BIDA.

BRAC bank’s Md. Sabbir Hossain, Deputy Managing Director & Chief Operating Officer (COO); Jabedul Alam, Head of Transaction Banking; and Mahabubur Rashid, Unit Head, Public Team, Transaction Banking, also witnessed the signing occasion.