Dhaka, April 9 -- A Memorandum of Understanding (MoU) was signed between Midland Bank and Space Tech Holdings Ltd. (SPACETECH) and XSpeed Autos Limited (XSPEED) at the corporate head office of the bank at Gulshan 2 in Dhaka on March 25.

SPACETECH is a Singapore and Bangladesh joint venture company focusing on property development and green-tech promotion in Bangladesh, while XSPEED is a company established in Bangladesh aiming at bringing investment and technology of electric vehicle products and industries into Bangladesh from China with solutions of all aspects, according to a press release.

In the presence of Md. Ahsan-uz Zaman, MD & CEO of the bank, Mohammad Javed Tarek Khan, Head of the Institutional Banking Division of Midland Ban...