A Memorandum of Understanding (MoU) was signed between Midland Bank and Space Tech Holdings Ltd and XSpeed Autos Ltd at the corporate head office of the Bank at Gulshan 2, Dhaka, on March 25.
Space Tech is a Singapore and Bangladesh Joint Venture company focusing on property development and green-tech promotion in Bangladesh, while XSPEED is a company established in Bangladesh aiming at bringing investment and technology of electric vehicle products and industries into Bangladesh from China with solutions of all aspects.
In the presence of Md Ahsan-uz Zaman, MD and CEO of the Bank, Mohammad Javed Tarek Khan, head of the Institutional Banking Division of Midland Bank, and Ye Liang, CEO and managing director of Space Tech and XSpeed, signed the MoU on behalf of their respective organizations.
Under the MoU, Space Tech and XSpeed Autos Ltd 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.
Prashanta Kumar Saha, head of Corporate Liability Unit of Midland Bank; Gong Li, International Trade and Finance analyst, Space Tech Holdings Ltd; and Syed Syful Islam, accounts manager-Finance, Space Tech Holdings Ltd and Xspeed Autos Ltd were also present along with other Executives and Officers of both the organizations.
