Heidelberg Materials to receive cash management solutions from BRAC Bank
BRAC Bank has partnered strategically with Heidelberg Materials Bangladesh, a multinational building materials company, to support its financial operations with a robust cash management solution.
Under the partnership, BRAC Bank will deliver tailored financial services to Heidelberg, covering collection, payment, and reconciliation solutions.
Leveraging BRAC Bank's vast distribution network and 1,100+ Agent Banking outlets nationwide, Heidelberg can seamlessly accept its receivables from distributors outside regular banking hours and holidays.
BRAC Bank's virtual account solution will allow Heidelberg to segregate and manage funds efficiently, enhancing visibility and control over its receivables. Heidelberg will also use CORPnet, BRAC Bank's Internet banking platform, for 24/7 payment access.
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The solutions aim to enhance Heidelberg's transaction processes, making them more streamlined and efficient.
Terence Ong Kian Hock, Managing Director, Heidelberg Materials Bangladesh, and Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate and Institutional Banking Division, signed the agreement at the headquarters of BRAC Bank.
Heidelberg Materials Bangladesh was represented by Jashim Uddin Chowdhury, FCA, Director and CFO, Emdadul Haque, CMA FCA, Company Secretary, among others.
BRAC Bank was represented by AKM Faisal Halim, Head of Transaction Banking, Abu Sadat Chowdhury, Area Head, Dhaka Regional Corporate, and others.
Heidelberg Materials is a German multinational building materials company that is one of the world's largest. It holds leading market positions in aggregates, cement, and concrete in more than 50 countries.
As a Bangladesh corporate and institutional banking leader, BRAC Bank continues leveraging its technology-enabled services to cater to its clients' unique needs. This partnership with Heidelberg Materials marks a significant milestone in BRAC Bank's commitment to delivering modern, efficient, and client-focused banking solutions.
