Midland Bank PLC, a leading fourth-generation private commercial bank in Bangladesh, has entered into a strategic partnership with TallyKhata, Bangladesh’s pioneering digital bookkeeping and payment platform, aiming to digitally empower millions of small businesses nationwide. The partnership, formalized through a Memorandum of Understanding (MoU), is set to offer innovative financial solutions, including digital onboarding, transaction accounts, savings, and credit, specifically tailored for traders and entrepreneurs.
Under this strategic alliance, TallyKhata will leverage Midland Bank’s advanced API and banking infrastructure to provide account opening and seamless digital transactions via TallyKhata’s digital wallet, TallyPay—a Payment Service Provider (PSP) licensed by Bangladesh Bank. The collaboration focuses on simplifying access to critical banking services, thereby significantly benefiting the underserved MSME segment across Bangladesh.
The MoU signing ceremony was held at Midland Bank’s Head Office. Representing their organizations, Mr. Mohd. Javed Tarek Khan, Head of Institutional Banking Division of Midland Bank PLC. and Dr. Shahadat Khan, CEO of TallyKhata, signed the MoU. Senior executives from both institutions, including Mr. Md. Abu Taleb (Chief Business Officer), Mr. Muhammad Awlad Hossain (Chief Growth Officer), Mr. Mohammad Zahirul Islam (Head of Strategy) from TallyKhata, and Mr. Md. Zahid Hossain, Deputy Managing Director, Mr. Md. Nazmul Huda Sarkar CTO, Mr. Md. Rashed Akter, Head of Retail Distribution Division & Chief Bancasurance Officer, and Mr. Mohammad Hassibur Rahman, Head of Cash Management from Midland Bank, were present.
Expressing his enthusiasm, Dr. Shahadat Khan, CEO of TallyKhata, said, “We are delighted to collaborate with Midland Bank, an innovative, next-generation financial institution. This partnership significantly strengthens our ability to reach and serve the MSME sector, fostering greater financial inclusion across Bangladesh.”
Mr. Md. Zahid Hossain, Deputy Managing Director of Midland Bank PLC, stated, “Our partnership with TallyKhata represents a meaningful step toward leveraging digital innovation for inclusive financial growth. Together, we aim to bring millions of small businesses into the formal financial ecosystem.”
Key partnership objectives include account-to-account (A2A) transfers, merchant virtual account tagging, network integration (FT, BEFTN, RTGS, NPSB) for payments, card products, EMI solutions, agent banking, and digital nano loan and savings solutions. This strategic partnership marks the beginning of a long-term collaboration focused on continuous financial innovation and expansion to effectively meet evolving customer needs, ultimately contributing to sustainable economic inclusivity.
