Press Release
27 October, 2026, 06:25 pm
Last modified: 27 October, 2026, 06:29 pm
Midland Bank PLC has signed a memorandum of understanding with CG Runner BD Ltd, the authorised distributor of BYD vehicles in Bangladesh, to provide auto financing facilities, including loans of up to Tk80 lakh, to eligible buyers.
Imtiaz U Ahmed, managing director of Midland Bank, and Amid Sakif Khan, managing director of CG Runner BD, signed the agreement on behalf of their respective organisations, according to a press release.
Under the agreement, eligible customers will have access to competitive interest rates, flexible repayment options and convenient financing facilities for purchasing BYD vehicles.
Midland Bank will offer auto loans ranging from Tk4 lakh to Tk80 lakh, financing up to 80% of a vehicle's value, with repayment tenures of up to six years.
The bank will also facilitate loan processing within three working days of receiving all required documents, subject to its credit approval policies.
The partnership aims to simplify vehicle financing, enhance customer convenience and improve access to modern, environmentally friendly vehicles in Bangladesh.
Those attending the signing ceremony from Midland Bank included Mohd Javed Tarek Khan, head of the Institutional Banking Division, and Muhammed Noorunnabi, head of operations, international division and offshore banking.
Muhammad Majidul Haq Patwary, vice-president and unit head of the Institutional Banking Division, and Mohammed Rashadul Anwar, head of the Public Relations Division and coordinator of the Retail Distribution Division, also attended.
CG Runner BD was also represented by Md Ferdowsur Rahman, FCA, chief financial officer, and Methun Bhattacharjee, head of business development.
Midland Bank said the collaboration reflects its commitment to providing innovative financing solutions, enhancing customer experience and supporting sustainable mobility through partnerships.