Dhaka, Bangladesh (BBN) – United Commercial Bank (UCB) limited has recently signed a contract with Sandhani Life Insurance Company Limited to provide services under the Bangladesh Electronic Fund Transfer Network (BEFTN).

Under the deal, the UCB will work as the Originating Bank for Sandhani in the collection and distribution of funds under the Bangladesh Electronic Fund Transfer Network. UCB is the first bank authorized by Bangladesh Bank to carry out debit transactions under BEFTN.

Held at UCB Corporate Head Offices at Gulshan in the capital, Managing Director of UCB Mr. M. Shahjahan Bhuiyan and Managing Director of Sandhani Mr. Ahasanul Islam signed the agreement on behalf of the respective organizations.

BBN/SSR/AD-17Oct11-1:14 pm (BST)