Prime Bank PLC has entered into an agreement with Square Toiletries Limited to provide a customized receivables management solution aimed at enhancing collection efficiency, reconciliation, and transparency across Square Toiletries’ nationwide distribution network.
Under the agreement, distributors of Square Toiletries across Bangladesh will make payments through unique virtual accounts.
The solution will enable automated identification and tracking of individual transactions, eliminating the need for manual matching of receivables and significantly reducing reconciliation time.
The digitally enabled solution is expected to streamline Square Toiletries’ collection and reconciliation processes while providing greater visibility and transparency across its distribution network.
Sajid Rahman, area head, corporate & institutional banking; Md Rashedul Husain, senior vice president, cash management of Prime Bank PLC, and Md Golam Kibria, executive director; Md Mobarak Hossain, deputy general manager of Square Toiletries Limited, exchanged the agreement on behalf of their respective organizations.
Senior officials from both organizations were also present at the ceremony.
Through this partnership, Prime Bank PLC reaffirmed its commitment to providing innovative and technology-driven cash management solutions that help corporate clients improve operational efficiency, strengthen financial visibility and enhance their overall banking experience.
The initiative reflects Prime Bank’s continued focus on delivering customized digital banking solutions that address the evolving needs of businesses and support more efficient financial management across Bangladesh.
