Prime Bank, ITFC sign deal for $40m syndicated financing

Business Desk :
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group has arranged a Syndicated Murabaha Financing Facility of $40 million for Prime Bank Limited, Bangladesh.

The financing facility will support the growing trade business of Prime Bank for SME and corporate segments.

Through this strategic partnership, ITFC will be supporting the key sectors of the economy by availing vital foreign currency to support the global trade of Bangladeshi importers and exporters.

Prime Bank’s Managing Director and CEO Hassan O. Rashid and ITFC’s Chief Operating Officer (COO) Nazeem Noordali signed the financing agreement in a signing ceremony at Prime Bank Headquarters in Dhaka, Bangladesh, witnessed by senior representatives from both institutions.