Midland Bank PLC. signed a Memorandum of Understanding
(MoU) with CG Runner BD Ltd., the authorized distributor of BYD vehicles in
Bangladesh. This partnership aims to provide attractive auto financing facilities
to customers purchasing BYD vehicles, a press release said.
Imtiaz U. Ahmed, Managing Director of Midland Bank PLC.,
and Amid Sakif Khan, Managing Director of CG Runner BD Ltd., signed the
agreement on behalf of their respective organizations.
Under the agreement, eligible customers will enjoy
competitive interest rates, flexible repayment options, and convenient auto
financing facilities for purchasing BYD vehicles. Midland Bank will offer auto
loans ranging from BDT 4 lakh to BDT 80 lakh, financing up to 80% of the vehicle
value, with repayment tenures of up to six years. The Bank will also facilitate
loan processing within three working days upon submission of all required
documents, subject to the Bank’s credit approval policies.
The partnership aims to simplify vehicle financing,
enhance customer convenience, and promote access to modern and environmentally
friendly vehicles in Bangladesh.
Mohd. Javed Tarek Khan, Head of Institutional Banking
Division, Muhammed Noorunnabi, Head of Operations, International Division &
Offshore Banking, Muhammad Majidul Haq Patwary, Vice President, Unit Head,
Institutional Banking Division and Mohammed Rashadul Anwar, Head of the Public
Relations Division (PRD) & Coordinator of the Retail Distribution Division
(RDD), were present at the signing ceremony representing Midland Bank PLC.
Also present from CG Runner BD Ltd. were Md. Ferdowsur
Rahman FCA, Chief Financial Officer, and Methun Bhattacharjee, Head of Business
Development.
This collaboration reflects Midland Bank’s ongoing
commitment to providing innovative financing solutions, enhancing customer
experience, and supporting sustainable mobility through strategic partnerships.
