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Thursday | October 01, 2026 | Dhaka

EBL arranges $10m financing for Samuda Shipping

 Business Desk
 Published: 12:01 AM, 01 October 2026

Eastern Bank PLC (EBL) has arranged a USD 10 million Shariah-compliant term finance facility for Samuda Shipping Limited (SSL), a concern of T.K. Group of Industries. EBL acted as arranger, security agent and account bank for the deal.

The financing will fund the acquisition of MT Samuda, a 22,000 MT edible oil tanker, to support crude palm oil imports for TK-Samuda Group’s edible oil refineries from key regional markets, including Indonesia and Malaysia.

The vessel will also give the group flexibility for third-party chartering, according to a media release.
The USD 14 million acquisition is being financed through a USD 10 million, seven-year Shariah-compliant facility from the Islamic Corporation for the Development of the Private Sector (ICD). The deal closing ceremony was held at Westin Dhaka on September 29, 2026.

Hassan O. Rashid, CEO of EBL, said, “This deal brings together ICD’s multilateral development finance expertise and EBL’s deep knowledge of the Bangladesh market.

This acquisition is expected to contribute meaningfully to food security and agro-industrial capacity in Bangladesh.”

Md. Mostafa Haider, Managing Director, Samuda Shipping Limited; Asheque Moyeed, Acting General Manager, Banking Department, Islamic Corporation for the Development of the Private Sector and senior representatives of Samuda Shipping Limited, ICD and EBL attended the ceremony.