Midland Bank signs MoU with Sonic for cash management services

Midland Bank PLC has signed a memorandum of understanding (MoU) with Sonic (Bangladesh) Limited, an export-oriented manufacturing company, to provide advanced cash management solutions for more efficient financial operations.

Imtiaz U Ahmed, managing director and CEO of the bank, and Su Yongbao, director of the manufacturing company, signed the MoU at a programme held in Dhaka recently, according to a press release.

Under the agreement, Sonic (Bangladesh) will utilise Midland Bank’s modern and secure digital platform, “Midland Cash Management (MCM)”, to enhance its day-to-day banking transactions, fund management, and overall financial operations.

Sonic (Bangladesh) Ltd is a 100 percent export-oriented manufacturer of toy models and is engaged in diverse business activities, including manufacturing, trading, and related services, contributing significantly to Bangladesh’s industrial sector.

Mohd Javed Tarek Khan, senior executive vice-president and head of institutional banking division at the bank; Muhammad Majidul Haq Patwary, vice-president and unit head; and Khondker Khaled Shams, senior assistant vice-president and unit head, attended the signing ceremony.

Officials expressed optimism that the partnership will enhance operational efficiency and strengthen long-term business collaboration, the release added.

Dominic TK Ho, chief marketing officer of the manufacturing company; Huang Rong, account manager; Nelson Liu, general manager; Deng Chao Wen, admin manager; Md Showayeb Ahamed, assistant manager (finance); and Md Shahanur Alam, senior accounts officer, along with other senior officials from both organisations, were also present.