Dhaka, Oct. 18 -- BRAC Bank and TK Group have entered into a Transaction Banking Agreement to implement an advanced dealer collection solution through Virtual Accounts, marking a significant step forward in digitising corporate cash management in Bangladesh.

Under this partnership, BRAC Bank will provide an automated collection solution that enables TK Group to receive payments from its extensive nationwide dealer network directly into Virtual Accounts assigned to each dealer, according to a media release.

This innovative system will facilitate real-time reconciliation, faster fund availability, and enhanced control over receivables, thereby ensuring greater operational efficiency and transparency.

This strategic collaboration will str...