Business

BRAC Bank introduces eSignature Solution for procurement


Published : 15 May 2022 09:13 PM

BRAC Bank has introduced eSingature Solution for its procurement function.

The bank in a press statement on Saturday said the eSignature Solution will enhance transparency and security of its outsourcing works. It is the first bank to launch eSignature in this field, it said.

Bangladesh Bank-mandated Digital Certificate was introduced for signing and validating all relevant procurement documents, thus ensuring enhanced security.

The new system will ensure overall security by introducing digital signatures in work order/purchase orders ensuring genuineness, reliability and confidentiality. It will reduce financial risk by dealing with the scope of counterfeiting work orders.

From now on, all work order/purchase orders issued from BRAC Bank will have eSignature embedded in them to ensure verifiability of the work order and further streamline the bank’s procurement function.