Eastern Bank PLC (EBL) has signed a memorandum of understanding (MoU) with the Chittagong Port Authority (CPA) to inaugurate advanced digital banking services at Chattogram Port.

Rear Admiral SM Moniruzzaman, chairman of CPA, and Ali Reza Iftekhar, managing director and chief executive officer of EBL, signed the MoU in Dhaka recently, the bank stated in a press release.

Commenting on the collaboration, Moniruzzaman stated, "The implementation of digital banking services at Chattogram Port marks a significant milestone in our pursuit of a smarter and more efficient port infrastructure."

"We are pleased to partner with EBL in this endeavour, which will not only bolster operational efficiency but also serve as a benchmark for modern ports across the globe," the CPA chairman added.

Ali Reza Iftekhar stated, "Through this collaboration with the Chittagong Port Authority, our objective is to transform the port's financial ecosystem by introducing secure, streamlined digital banking solutions."

He further remarked, "This initiative underscores our unwavering commitment to innovation and excellence, and we take pride in leading this transformative journey."

The partnership aims to augment the efficiency of financial transactions at the port by deploying secure, modern digital payment and collection systems.

As part of this strategic initiative, EBL and CPA will jointly develop an integrated digital ecosystem designed to facilitate seamless financial transactions for all port users via EBL's advanced digital banking platform.

Senior executives from both organisations were also present at the signing ceremony.