Midland Bank PLC recently signed a memorandum of understanding (MoU) on an online cash management solution with BP Manufacturing (BD) Co Ltd, a toy manufacturing company.

Muhammad Majidul Haq Patwary, vice-president and head of institutional banking division of the bank, and Wong Chi Yu Benjamin, chairman of the toy manufacturing company, penned the MoU at the latter's headquarters located in Uttara EPZ in Nilphamari, said a press release.

Under the MoU, BP Manufacturing (BD) will use the robust online cash management solution of MDB "Midland Cash Management (MCM)" application for conducting their daily business banking and cash management activities nationwide.

BP Manufacturing (BD), a concern of Sonic Group, has been producing the resin model car brands for the European market - GT Spirit and Otto mobile.

Resin moulds are made of vulcanised silicone, latex rubber, or other similar materials producing superior quality resin models from die-cast. Often the price segment of resin models is higher than die-cast.

Moreover, IXO Models are made in Bangladesh by Sonic (BD) Ltd.

Faruq Hossin Rasal, first assistant vice-president, institutional banking division of the bank, along with other executives and officers from both the organisations was also present.