Dhaka: Mutual Trust Bank PLC and SOLshare Ltd signed an agreement at a ceremony held at the former’s head office in the capital recently.

Syed Mahbubur Rahman, Managing Director and CEO of MTB and Dr Sebastian Groh, CEO and Co-founder of SOLshare Ltd signed the agreement on behalf of their respective organisations.

The agreement is aimed at financing smart lithium batteries for electric three-wheelers, promoting sustainability in Bangladesh. This partnership enables three-wheeler owners to replace traditional lead-acid batteries with IoT-enabled smart lithium batteries, facilitated through loans from MTB.

The initiative also aligns with global efforts for cleaner transportation and a greener environment. The presence of management members and senior officials from both organisations at the ceremony underscored their commitment to advancing eco-friendly practices and technological innovation in Bangladesh.