Heidelberg Materials to avail BRAC Bank solutions

BRAC Bank and Heidelberg Materials Bangladesh signed a deal recently on tailored financial services covering collection, payment and reconciliation solutions.

Terence Ong Kian Hock, managing director of the multinational building materials company, and Tareq Refat Ullah Khan, deputy managing director and head of corporate and institutional banking division at the bank, penned the deal at the latter's Dhaka head office.

Heidelberg will be able to use the bank's countrywide distribution network and over 1,100 agent banking outlets to accept receivables from distributors beyond regular banking hours and on holidays, said a press release.

The bank's virtual account solution will allow Heidelberg to segregate and manage funds efficiently, enhancing visibility and control over their receivables.

In addition, Heidelberg will also be able to avail CORPnet, the bank's internet banking platform, for access to payment round the clock.

Jashim Uddin Chowdhury, director and chief financial officer of the Heidelberg, Emdadul Haque, company secretary, AKM Faisal Halim, head of transaction banking of the bank, and Abu Sadat Chowdhury, area head of Dhaka regional corporate, were present.