Bangladesh, Oct. 8 -- Akij Renewable Energy & Automobiles Ltd. (AREAL), a subsidiary of Akij Venture Group, has signed a Memorandum of Understanding (MoU) with City Bank PLC, on 27thof September, 2026, to establish a strategic partnership.

This collaboration aims to promote and facilitate financing for electric vehicles (EVs) and provide special benefits to customers, according to a media release.

The MoU was handed over by K.M. Nafizul Hoq, Head of Asset, Retail Banking Division to Sayed Joynul Abedin, CEO of Akij Renewable Energy & Automobiles Ltd., on behalf of their respective organizations, in a ceremony held at ARRA Showroom, Tejgaon, Dhaka.

Under the agreement, customers purchasing electric vehicles directly from AREAL will ha...