Prime Bank, Coracle to help streamline student visa processes for Germany

Prime Bank PLC has entered into a strategic partnership agreement with Coracle GmbH, a provider of blocked account services in Germany, to streamline and accelerate the visa application process for Bangladeshi students aspiring to pursue higher education in Germany.

Md Nazeem A Choudhury, deputy managing director of the bank, and Sheikh Hafeez Maeen, director and country representative for Bangladesh at Coracle, signed the agreement at the bank's corporate head office in the capital's Gulshan recently, according to a press release.

As part of this collaboration, Coracle GmbH will issue a confirmation certificate of fund receipt on the same day the transaction is made or within the shortest possible timeframe based on the SWIFT message received from Prime Bank PLC.

This certificate is a mandatory requirement for the German visa interview and is ordinarily issued only once the funds have been credited to the student's blocked account in Germany.

Asad bin Rashid, head of student banking at the bank; Miah Mohammad Rabiul Hasan, chief bancassurance officer; and Nafis Uddin Mehran, product manager and business lead (student banking), along with other senior officials from both organisations, were also present.