Trust Bank signs deal with Axiata Digital Services

Trust Bank Limited (TBL), sponsored by the Army Welfare Trust, and Malaysia based Asia's digital service company, Axiata Digital Services (ADS), signed a joint venture company agreement Friday to form the new mobile financial service based company, Trust Axiata Digital Limited (TADL), said a statement.
As per the agreement, TBL and ADS will have 51 per cent and 49 per cent shareholding respectively in the joint venture company, TADL.
TBL's Managing Director and CEO, Faruq Mainuddin and ADS- Executive Director, Dewan Nazmul Hasan signed the joint venture company agreement at TBL's corporate head office in the city.
Trust Bank's Vice Chairman and Adjutant General Bangladesh Army, Major General Md Enayet Ullah, BSP, ndc, psc was present on the occasion as the chief guest. Bangladesh Bank's General Manager, Payment System Department, Md. Mezbaul Haque was present as the special guest at the signing ceremony.
Due to the pandemic situation, ADS's Chief Financial Officer, Sheyantha Abeykoon, Chief Strategy Officer, Tomoo Maruyama and Head of Special Projects, Navein Sathyanandha joined the signing ceremony through video conferencing from Kuala Lumpur, Malaysia.
Commenting on this historic moment, Trust Bank's Vice Chairman and Adjutant General Bangladesh Army, Major General Md Enayet Ullah, BSP, ndc, psc said, "TADL will aspire to revolutionise the customer lifestyle by bringing innovation to payment system in Bangladesh. Going beyond the scope of being a typical payment solution provider, TADL will also ensure that customers are provided with the tools to make their own financial decisions".
TBLs' Managing Director and CEO, Faruq Mainuddin said: "I am very proud that with the formation of TADL today, the nation has finally found its trusted partner to reinvent the way money flows through its economy using the touch of digital solutions.
ADS Executive Director, Dewan Nazmul Hasan was equally buoyant when he said, "We all are observing that the Corona pandemic is accelerating the digital transformation of the country's economy. TADL will endeavour to facilitate this transformation process by empowering its customers to have complete control over the way they deal with money."
The existing customers, agents and features of Trust Bank Mobile Financial Service 't-cash' will be transferred to the new JVC.