Eastern Bank Limited (EBL) has signed a Memorandum of Understanding (MoU) with German-headquartered trade finance provider TradeWind GmbH on Wednesday to offer secure and innovative trade finance solutions.
Ali Reza Iftekhar, Managing Director and CEO of EBL and Peter Maerevoet, Global CFO and Regional CEO of TradeWind Asia signed the documents through an online conference, said a press release.
EBL DMD Ahmed Shaheen and Head of International Business Md Obaidul Islam, Tradewind Regional Commercial Leader (RCL) for South Asia and Middle East Soheil Jali were also present there among others.
Under this joint venture, EBL will collaborate with Tradewind for export factoring where local exporters will be able to obtain their deferred receivables from overseas importers on a sight basis.
The process is faster, more secured, and will protect the interest of Bangladeshi exporters.