BRAC Bank, Q-Cash team up to provide ATM, POS network facilities to banks
Thursday, 19 July 2007
FE Report
BRAC Bank Ltd and IT Consultants Ltd's (ITCL) 'Q-Cash' have signed recently a memorandum of understanding (MoU) to form an association of member institutions which will provide shared ATM and POS network facilities to banks through a neutral switch, namely OMNIBUS, said a press release.
Managing Director (MD) and Chief Executive Officer (CEO) of BRAC Bank Ltd Imran Rahman and his ITCL counterpart Kazi Saifuddin Munir signed the MoU on behalf of their respective organisations in the city Tuesday.
OMNIBUS aims to leverage the strength of all ATM/POS networks in the country to form a truly nationwide e-payment gateway.
Operating as a not-for-profit association of members, OMNIBUS will be managed on the basis of the mutual consensus of all member institutions.
Speaking at the signing ceremony, Imran Rahman said, "OMNIBUS will appeal to individual bank customers who wish to enjoy the full benefits of electronic banking channels in Bangladesh".
Kazi Saifuddin Munir said the high standards of data security and transparent management practices will be key to the success of OMNIBUS.
BRAC Bank Ltd and IT Consultants Ltd's (ITCL) 'Q-Cash' have signed recently a memorandum of understanding (MoU) to form an association of member institutions which will provide shared ATM and POS network facilities to banks through a neutral switch, namely OMNIBUS, said a press release.
Managing Director (MD) and Chief Executive Officer (CEO) of BRAC Bank Ltd Imran Rahman and his ITCL counterpart Kazi Saifuddin Munir signed the MoU on behalf of their respective organisations in the city Tuesday.
OMNIBUS aims to leverage the strength of all ATM/POS networks in the country to form a truly nationwide e-payment gateway.
Operating as a not-for-profit association of members, OMNIBUS will be managed on the basis of the mutual consensus of all member institutions.
Speaking at the signing ceremony, Imran Rahman said, "OMNIBUS will appeal to individual bank customers who wish to enjoy the full benefits of electronic banking channels in Bangladesh".
Kazi Saifuddin Munir said the high standards of data security and transparent management practices will be key to the success of OMNIBUS.