Heidelberg Materials to receive cash management solutions from BRAC Bank

BRAC Bank has entered a strategic partnership with Heidelberg Materials Bangladesh, a multinational building materials company, to support its financial operations with a robust cash management solution, stated in the press release.

Under the partnership, BRAC Bank will deliver tailored financial services to Heidelberg, covering collection, payment, and reconciliation solutions.

Leveraging BRAC Bank’s wide distribution network and 1,100+ Agent Banking outlets across the country, Heidelberg can accept its receivables from distributors seamlessly beyond regular banking hours and on holidays.

BRAC Bank’s virtual account solution will allow Heidelberg to segregate and manage funds efficiently, enhancing visibility and control over their receivables. In addition, Heidelberg will also avail CORPnet, BRAC Bank’s internet banking platform, for access to payment 24/7.

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 & Head of Corporate & Institutional Banking Division, signed the agreement on October 28, 2024, at the headquarters of BRAC Bank.

Representing Heidelberg Materials Bangladesh were Jashim Uddin Chowdhury FCA, Director & CFO, and Emdadul Haque CMA FCA, Company Secretary, among others.

Representing BRAC Bank were AKM Faisal Halim, Head of Transaction Banking, Abu Sadat Chowdhury, Area Head, Dhaka Regional Corporate, among others.

Heidelberg Materials, a German multinational building materials company, is one of the world’s largest. It holds leading market positions in aggregates, cement, and concrete in more than 50 countries.

As a leader in corporate and institutional banking in Bangladesh, BRAC Bank continues to leverage 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.

For more updates, follow Markedium.