A Memorandum of Understanding (MoU) was executed between United Commercial Bank Limited (UCB) and Vanguard Asset Management Ltd (VAML) on February 2, 2014 at the Corporate Head Office of UCB. It was executed to make strategic partnership to generate future business opportunities between UCB and Vanguard Asset Management Limited (VAML).

At the presence of Mr. Muhammed Ali, Managing Director of UCB; Mr. Mohammed Shawkat Jamil, Deputy Managing Director of UCB and Mr. Waqar Ahmed Chowdhury, Managing Director & CEO of Vanguard Asset Management Ltd signed the MoU on behalf of their respective organizations. Mr. M. Shahidul Islam, Additional Managing Director of UCB; Mr. Mirza Mahmud Rafiqur Rahman, Additional Managing Director of UCB; Mr. A. E. Abdul Muhaimen, Additional Managing Director of UCB; Mr. Md. Tariqul Azam, Deputy Managing Director of UCB; Mr. A.S.M Arif, SVP & Head of Structured Finance Diision; Mr. Md Rifatur Rahman Joarder, Deputy Chief Executive Officer Vanguard Asset Management Ltd along with other senior officials of both the companies were also present in the programme.