United Commercial Bank PLC (UCB) signed a digital cash management agreement with Pran-RFL Group, an industrial conglomerate in Bangladesh, aiming to transform the digital financial landscape in the country.

Mohammad Mamdudur Rashid, managing director and CEO of the bank, and Ahsan Khan Chowdhury, chairman and CEO of Pran-RFL Group, signed the agreement at the bank's head office in Dhaka today, according to a press release.

Highlighting the significance of the partnership, Rashid stated, "From traditional banking to cutting-edge digital solutions like mobile banking, online transactions, and asset management, we are committed to innovation."

"Pran-RFL Group, with its widespread reach and diverse product portfolio, has become a household name. Together, this collaboration will set a new benchmark in delivering advanced digital economic services," he added.

Chowdhury emphasised the group's mission to elevate the living standards of Bangladeshis, stating: "This partnership with UCB will unlock new digital transaction opportunities for SMEs, enabling faster and more efficient business operations."

"Aligning with a trusted institution like UCB is a significant step forward in our digital transformation journey," he added.

Sharif Zahir, chairman of the bank, attended the signing ceremony.

This collaboration aims to simplify, streamline, and enhance the digital cash management system, paving the way for expanded digital transaction opportunities for consumers and small and medium enterprises (SMEs) across the country.

Senior officials from both organisations were also present.