ShopUp and Trust Bank Limited have entered into a Memorandum of Understanding (MoU) aimed at enhancing B2B commerce through Islamic Finance. The signing took place at ShopUp’s headquarters in Dhaka.
As part of this collaboration, business partners associated with the distribution centers of the B2B commerce platform ‘Mokam’ across the nation will now have access to Shariah-compliant investment facilities to facilitate the expansion of their enterprises.
ShopUp’s Mokam platform has been transformative in the B2B commerce sector, establishing direct connections between mills, manufacturers, and small shops. Currently, the extensive network of Mokam serves 3.1 crore people, providing them with food and essential commodities. Representatives from both organizations express optimism that this partnership will play a crucial role in ensuring the accessibility of daily necessities to people nationwide.
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Seyed Mosayeb Alam, Chief of Staff at ShopUp, commented on the significance of the agreement, stating, “This collaboration will significantly contribute to the business expansion of our partners operating throughout the country. Our objective is to provide affordable, high-quality food to 8 crore people by 2026.”
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The signing ceremony saw the presence of key figures from both entities, including Humaira Azam, Managing Director and Chief Executive Officer of Trust Bank; Ataur Rahim Chowdhury, Co-Founder and Chief Product Officer of ShopUp; Ahsan Zaman Chowdhury, Deputy Managing Director of Trust Bank; Major General (retd) Hamidur Rahman Chowdhury, Chief Strategic Advisor of ShopUp; Ziaul Haque Bhuiyan, Chief-of-Staff of ShopUp; and Seyed Mosayeb Alam, among other senior officials.
