Southeast Bank signed MoU with BIDA

Southeast Bank PLC signed a Memorandum of Understanding (MoU) with the Bangladesh Investment Development Authority (BIDA) to provide seamless banking services and enhance one-stop solutions for local and foreign investors.

The agreement was signed at a formal ceremony at the BIDA Seminar Hall, Agargaon, underscoring both institutions' shared commitment to fostering an investor-friendly environment in Bangladesh.

Nuruddin Md. Sadeque Hossain, Managing Director of Southeast Bank PLC, and Dr Khandoker Azizul Islam, Executive Member of BIDA, exchanged the agreement for their respective organisations.

Through this collaboration, Southeast Bank PLC will integrate its innovative banking solutions into BIDA's One Stop Service (OSS) platform, simplifying business setup and expansion for local and foreign investors in Bangladesh. The services include account opening, foreign exchange facilitation, fund transfers, and tailored advisory services for global investors.

This partnership also offers advanced banking solutions, such as online account opening and exclusive transactional services, to ease investors' operations. The MoU represents a key step in enhancing Bangladesh's appeal as a preferred investment destination by improving efficiency, transparency, and accessibility for foreign investors.

Speaking at the event, Chowdhury Ashik Mahmud Bin Harun, BIDA Executive Chairman, emphasised improving service delivery for investors. He stated, "Ensuring quality service for investors remains our top priority. Through the OSS platform, we aim to make the service delivery process more accessible and efficient. Our long-term plan includes establishing a Single Entry Point, enabling investors to access services from all IPAs using a single ID." He said this would eliminate redundancy, improve monitoring, and ensure seamless service delivery.

Nuruddin Md Sadeque Hossain said, "Southeast Bank PLC. is committed to delivering world-class financial services, enabling foreign investors to unlock the vast potential of Bangladesh's economy. He thanks the BIDA Authority for becoming a partner in the endeavours".

Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA and BEZA, Abidur Rahman Chowdhury, Deputy Managing Director of Southeast Bank PLC., and other high officials of both organisations were also present at the ceremony.