Brac Bank, UCB Asset sign custodial services deal

Brac Bank recently signed an agreement with UCB Asset Management to provide custodial services to the United Commercial Bank (UCB) subsidiary for running a new open-ended mutual fund, "UCB Taqwa Growth Fund".

Tareq Refat Ullah Khan, deputy managing director of Brac Bank, and SM Rashedul Hasan, managing director of UCB Asset Management, signed the agreement at the latter's head office, said a press release.

ATM Tahmiduzzaman, deputy managing director of UCB, Md Sekander-E-Azam, executive vice-president, Mohammed Rahmat Pasha, managing director of UCB Stock Brokerage, Tanzim Alamgir, managing director of UCB Investment, Khan Muhammad Faisol, senior manager of Brac Bank, and Md Azmul Hasan Jahid, associate relationship manager, were present.