MoU signed between City Bank and Bangladesh Freelancer Development Society

City Bank recently signed an agreement with Bangladesh Freelancer Development Society (BFDS) and Freelancers Limited (FL) at City Bank Center.

Under this agreement, City Bank will be allowed to verify Freelancer ID. This will ensure smooth service delivery of deposits, loan, credit card and other banking services to freelancers from the City Bank branches, reads a press release. 

The flagship product, Freelancer Deposit Product, will allow freelancers in the country to open accounts at City Bank. They will be allowed to operate two accounts, a Freelancer ERQ Account & Freelancer Savings Account. Which will allow them to receive foreign currency earnings from online marketplaces to Freelancer ERQ Accounts, and retain the dollar amounts for further bona fide international payments (Within regulatory limit) free of transactional cost.

This signing ceremony will initiate a strategic partnership with City Bank and BFDS, FL, and pave the way for making banking services faster and hassle free for freelancers in Bangladesh.

In presence of Sheikh Mohammad Maroof, additional managing director of City Bank, Md Arup Haider, head of Retail Banking of City Bank and Dr Tanjiba Rahman, Cchairman of Both BFDS and FL signed the agreement on behalf of their respective organisations. Mahia Juned, deputy managing director of City Bank and high officials of both organisations were also present at the event.