United Commercial Bank pens MoU with National Pension Authority to expand UPS

United Commercial Bank PLC (UCB) has signed a memorandum of understanding (MoU) with the National Pension Authority (NPA), marking a significant advancement in enhancing the accessibility and operational efficiency of the Universal Pension Scheme (UPS) in Bangladesh.

Md Mahiuddin Khan, executive chairman of the NPA, and Mohammad Mamdudur Rashid, managing director and chief executive officer of the bank, signed the MoU at the conference room of the finance division under the Ministry of Finance in the capital recently, according to a press release issued by the bank.

As part of this strategic collaboration, UCB will serve as a banking service provider for the scheme, facilitating the seamless collection of pension instalments through a broad and secure network of banking channels.

These include UCB's own exchange house, partner exchange houses, bank branches, sub-branches, agent banking outlets, as well as its retail and corporate internet banking platforms and other authorised channels.

Md Khairuzzaman Mozumder, secretary of the finance division, attended the signing ceremony as a distinguished guest, alongside senior officials from both organisations and the Ministry of Finance.