SBAC Bank PLC. has signed a Memorandum of Understanding (MoU) with the National Pension Authority (NPA) to support the implementation of the Universal Pension Schemes across Bangladesh. The signing ceremony took place on Monday, 14 July 2025, at the conference room of the Finance Division, Ministry of Finance.

The agreement was formally signed by Md. Mahiuddin Khan, Executive Chairman of the National Pension Authority, and Md. Rabiul Islam, Managing Director and CEO (Current Charge) of SBAC Bank, representing their respective organizations. The MoU outlines SBAC Bank’s role in registering individuals and collecting monthly installments for various pension schemes under the national initiative.

Under this partnership, SBAC Bank will facilitate customer enrollment and contribution collection for key pension schemes including Pragoti, Surakkha, Samata, and Probash. These services will be offered both online and offline, making pension contributions more accessible for a broader segment of the population, including expatriates and informal sector workers.

The signing ceremony was graced by Dr. Md. Khairuzzaman Mozumder, Secretary of the Finance Division, who attended as the chief guest. Md. Masoodur Rahman FCA, SEVP & Head of Banking Operations Division of SBAC Bank, along with other senior officials from both SBAC Bank and NPA, were also present at the event.

This collaboration is expected to strengthen the delivery of the Universal Pension Scheme and promote financial inclusion by leveraging SBAC Bank’s banking network and digital infrastructure.