Bangladesh's Sonali Bank Ltd. signed a memorandum of understandingwith U.S.-based PayPal HoldingsInc. to promote e-commerce in the country, The Financial Express reported July 15, citing Dider Md. Abdur Rob,the bank's managing director and CEO.

The agreement is aimed at facilitating easier remittanceinflow amid issues in receiving funds through outsourcing, Dider said.