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11-Apr-2021
Prime Bank Announces Partnership with Swisscontact Bangladesh
Prime Bank Limited (PBL), one of the country’s leading bank, announced partnership with the Sarathi project of Swisscontact Bangladesh to introduce digital lending facility to low-income people such as Readymade Garments (RMG) workers. This asserts Prime Bank’s ongoing drive for digital transformation.

The project “Sarathi- Progress through Financial Inclusion”- jointly funded by Metlife Foundation and Swisscontact- is working with commercial banks in Bangladesh to bring RMG workers and residential community members within the sphere of mainstream commercial banking and enable them to conduct transactions as account holders and clients.

The objective of the partnership is to create a digital lending platform powered by Prime Bank’s lending products and Sarathi’s expertise on financial inclusion and creating awareness on financial management amongst the low-income communities. Both organizations have also agreed to work together in other areas of collaboration for mutual benefit.

Sarathi’s Team Leader, Syeda Ishrat Fatema said during the agreement signing: “Swisscontact and Sarathi are happy to take part in this digital lending facility introduced by Prime Bank. Introducing a credit product targeting the low-income communities has always been a challenge for the commercial banks due to the lack of participation by the low-income demographic in digital financial transaction. Thanks to Prime Bank for designing such a product that is well thought out, appropriate and affordable for the low-income households of RMG sector. This digital lending facility has the potential to be a game changer in the business of retail lending in Bangladesh.”

Commenting on the partnership, Prime Bank’s Deputy Managing Director and CBO, Mr. ANM Mahfuz said: “We are excited to partner with Swisscontact, a leading development partner of Bangladesh, in this innovative project taking best-in-class banking services to the unbanked population. This partnership will pave the way for easy access to finance to this segment of population who are beyond banking system. We will continue to team up with valued partners and harness latest digital technology to cater to the unserved people of the society.”
06-Apr-2021
Prime Bank signs agreement with Bangladesh Bank to avail refinancing support for export oriented industries
Prime Bank Limited has signed Participation Agreement with Bangladesh Bank to avail Refinance Fund for Technology Development and Upgradation of Export Oriented Industries.

Hassan O. Rashid, Managing Director & CEO, Prime Bank Limited, and Khondkar Morshed Millat, General Manager, Sustainable Finance Department, Bangladesh Bank, signed the agreement on behalf of their respective organizations at a signing ceremony on April 1, 2021 at Bangladesh Bank in presence of Abu Farah Md. Nasser, Deputy Governor, Bangladesh Bank, as the chief guest. Shams Abdullah Muhaimin, Deputy Managing Director, Transaction Banking, Structured Finance & International Division, Prime Bank, and senior officials of other participating banks and non-bank financial institutions were also present on the occasion.

Under this agreement, Prime Bank will get access to long term finance for onward lending to its existing and prospective clients in the export oriented industries to procure machineries and technologies for modernization and technological development and up-gradation of capital machinery. The facility will also cover financing in technology, energy efficient machinery and machinery and technology related to water, air, heat and waste management, business process reengineering and automation, operations management, workplace management, human resource development and management, sales and marketing management automation.
31-Mar-2021
Shams Abdullah Muhaimin promoted as Deputy Managing Director of Prime Bank
Shams Abdullah Muhaimin has been promoted as the Deputy Managing Director of Prime Bank Limited.

Prior to this new role, Mr. Muhaimin was working as Senior Executive Vice President and Head of Transaction Banking & Structured Finance at Prime Bank. He has more than 22 years of working experience in leading multinational banks like Standard Chartered Bank and Eastern Bank Limited.
31-Mar-2021
ANM Mahfuz promoted as Deputy Managing Director of Prime Bank
ANM Mahfuz has recently been promoted as Deputy Managing Director of Prime Bank Limited.

Mr. Mahfuz, having started his career with Standard Chartered Bank, Bangladesh in 1999, served in multiple leadership roles across different functions of Consumer Banking division.

Mr. Mahfuz joined Prime Bank in May 2018, as Senior Executive Vice President and Head of Consumer Banking. Since then, he has played a pivotal role in transformation of Consumer Banking business with launch of Call Center, Agent Banking, “Neera”- A Prime Bank initiative for women and also championed in introduction of various innovative products and services leveraging on digital capabilities.

Mr. Mahfuz has completed Honors and Masters in Economics from the University of Dhaka. He has also attended various local and overseas trainings and workshops throughout his career.
31-Mar-2021
Prime Bank introduces the smartest Chatbot platform “PrimeAssist” in the country
Dhaka, Wednesday, March 31, 2021: Prime Bank has launched artificial intelligence and machine learning based Chatbot ‘PrimeAssist’ to provide simpler, faster and smarter services to the customers anywhere anytime.

‘PrimeAssist’ is powered with cognitive intelligence capabilities that offers financial transactions, information services, customer onboarding, sales, promotions and many more services.

The launch of this service will give Prime Bank customers another convenient option of accessing their bank accounts. The tech-savvy bank has once again made a step forward and enabled the customers to bank conversationally from their preferred mobile messaging app.

This smart platform uses Artificial Intelligence (AI), Machine Learning (ML) and Natural Language Processing (NLP) technology to make everyday banking easier, faster and secure.

PrimeAssist is available over multiple channels such as Facebook Messenger, Viber and WhatsApp to make banking convenient. PrimeAssist also supports multi language option such as Bangla, English and a combination of Bangla and English (Banglish). PrimeAssist will be able to facilitate mobile top-up, balance query, mini statement, deposit, loan credit card application and many more. In near future, this very platform will be able to offer all other internet banking services that include instant account opening, fund transfer, bill payment, card block & unblock and many other services.

Prime Bank’s Managing Director and CEO Hassan O. Rashid, said: “Prime Bank has always been at the forefront of technological innovation in the banking industry. PrimeAssist is another testament to our commitment to making banking easier and simpler for our valued customers. It gives more freedom, flexibility and control over financial management.”
29-Mar-2021
Faisal Rahman promoted as Additional Managing Director of Prime Bank
Faisal Rahman has been promoted as the Additional Managing Director of Prime Bank Limited.

Prior to this new role, Faisal Rahman has been serving as Deputy Managing Director and Chief Business Officer (CBO), Corporate and Institutional Banking, since May 30, 2019.

Mr. Rahman has more than 25 years of diversified experience in financial sector with senior leadership positions in Standard Chartered Bank and Eastern Bank Limited. He worked in Eastern Bank as Senior Executive Vice President and Head of Relationship and Structured Finance Unit, Corporate Banking Division. He started his career in Credit Agricole Indosuez, Dhaka as Credit Analyst, Corporate Banking in 1995.

Mr. Rahman completed his B.Sc in Business Management and BA in Economics from East Stroudsburg University of Pennsylvania, USA. He is an Omega Certified Credit Professional as well.
14-Mar-2021
Hassan O. Rashid joins Prime Bank as the new Managing Director and CEO
Hassan O. Rashid has joined Prime Bank Limited as the new Managing Director and Chief Executive Officer.

Prior to joining Prime Bank, Mr. Rashid was Additional Managing Director at Eastern Bank Limited. In his eight-year stint, he is lauded for his leadership role in achieving balance sheet growth and driving transformation journey of Eastern Bank.

Mr. Rashid brings in more than 27 years of experience in banking industry both in local and multinational banks in senior positions in Corporate, Risk Management, SME and Retail Banking. He started his career with Credit Agricole Indosuez and later moved to HSBC and Standard Chartered Bank (SCB) in different senior leadership positions.

Mr. Rashid is a Graduate of Capital University of USA in Economics and Business Administration and done his Master’s degree in International Management from Garvin School of Management, Thunderbird, USA. He is also certified "Credit Professional" of Omega, UK.
10-Mar-2021
Prime Bank Announces Partnership with AGAM International
Prime Bank Limited, one of the country’s leading bank, announced partnership with AGAM International, a fast-growing fintech platform based in the United Kingdom, with a view to introducing digital lending facility to low-income group. This asserts Prime Bank’s ongoing drive for digital transformation.

The objective of the partnership is to create a digital lending platform powered by Prime Bank’s innovative products and AGAM’s innovative digital platform for the low-income community of Bangladesh. Both parties also agreed to work together in other areas of collaboration.

Founder and CEO of AGAM International, Ms. Shabnam Nida Wazed said: “Our unique innovation is designed to reach out to every underserved individual and allow them access to banking services. We aim to enhance their experience in every aspect of financial interactions and through our partnership with Prime Bank, a long-time leader and pioneer in digital banking industry, Bangladesh will reach a new height of financial inclusion and discover first-hand our contribution to shaping this bright, dynamic sector in future.”

About this partnership, Prime Bank’s Deputy Managing Director and Head of Consumer Banking, ANM Mahfuz said: “We are excited to partner with AGAM International, an innovative technology and service provider. As the leader in digital innovation, we have the mission to continuously deploy game-changing solutions to ensure better service to our customers and facilitate financial inclusion by taking financial services to the unbanked population. Partnerships like these are instrumental to achieve our mission in digital banking frontiers.”
03-Mar-2021
Mrs. Bakhtunnessa Chowdhury, Mother of Mr. Azam J Chowdhury, passes away
Mrs. Bakhtunnessa Chowdhury, mother of Mr. Azam J Chowdhury, renowned industrialist and former Chairman of Prime Bank Limited, and grandmother of Mr. Tanjil Chowdhury, Chairman of Prime Bank Limited, passed away Tuesday night at Square Hospital, Dhaka (Inna Lillahi Wa Inna Ilaihi Rajiun).

Her Namaz e Janaza was held on March 03, 2021 at Hosenpur Shahi Eidgah, Kadipur Union, Kulaura.

The Prime Bank Family is deeply mourning the sad demise of their revered guardian. We pray to the Almighty for the salvation of the departed soul and convey our deepest condolences to the bereaved family.
22-Feb-2021
Prime Bank issues Bangladesh’s first ever LC under Export Credit Guarantee Program of USDA
Prime Bank has become the first bank in Bangladesh to issue a letter of credit (LC) under Export Credit Guarantee Program of United States Department of Agriculture (USDA).

Last year, the Commodity Credit Corporation of the United States enlisted Prime Bank as Approved Foreign Financial Institution from Asia Region under GSM-102 for smooth import of agricultural commodities from USA.

Recently, Prime Bank successfully transmitted the first ever LC under the said program on account of Square Textiles Limited for import of raw cotton from the United States.

As an Approved Foreign Financial Institution, Prime Bank would be able to support its valued customers for import of US food and agricultural commodities like cotton, soybeans, grains, cereals, woods, nuts, fruits etc. under the Export Credit Guarantee Program administered by USDA.

This new capability of Prime Bank would help facilitate the country’s trade with the United States being a major Trade Financing bank in the country and offer value proposition for the businesses having major supply chain in the US agricultural sector for their necessary inputs in textiles, foods, edibles and allied industries in the country.

Commenting on the occasion, Prime Bank’s Acting Managing Director and CEO Faisal Rahman said, “USDA has enlisted Prime Bank for long track record of conducting international business with compliance, transparency and accountability. This will help us support our clients in agricultural commodity import better and also will boost our international trade portfolio. This first transmission of LC is just the beginning of new chapter in our international trade services.”
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