Citi’s Global Transaction Services has been mandated by Rajdhani Unnayan Kartipakha (RAJUK), the capital city development authority of Bangladesh, to provide collections services for RAJUK’s customers. This is a landmark public sector mandate for Citi in Bangladesh, following on from other recent success in this market.
Under the mandate, Citi will provide comprehensive collection services for RAJUK’s new housing plot applications from consumers at Citibank’s three branches in Dhaka. To enable RAJUK control over its incoming cash, Citi will also provide customized collection and reconciliation reports to RAJUK on a daily basis.
Using Citi’s services, RAJUK is able to enjoy an integrated and efficient collections process for its vast numbers of applications for plot allotment collections from the general public.
The deal builds on Citi’s success in providing cash management solutions to public sector entities in Bangladesh. In May 2008, Citi was awarded collections agent by the Dhaka Electric Supply Authority (DESA).
“Citi’s leadership in providing the most complex cash management solutions in Bangladesh continues to grow,” says Parvez Murshed, director, head of Citi’s global transaction services in Bangladesh. “Against strong competition, our dedication and ability to customize is clearly a differentiating factor for all client segments in this market.”
D.C.