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POST TIME: 14 July, 2020 09:41:46 PM / LAST MODIFIED: 15 July, 2020 08:54:32 AM
City Bank signs MoU with PrimaDollar
Staff Reporter, Dhaka

City Bank signs MoU with PrimaDollar

Sheikh Mohammad Maroof, additional managing director of City Bank, and Munawar Uddin, Country Lead Bangladesh of Primadollar, sign an agreement to facilitate the exporters of the bank. Photo: Courtesy

City Bank signed a memorandum of understanding (MoU) with PrimaDollar, a global trade financier, to facilitate the exporters of the bank involved in foreign trade on deferred sales contract terms. 

City Bank, in collaboration with Primadollar, will lunch fintech based factoring solution to the exporters which is first time in Bangladesh, through which the exporters should be able to receive the payment of their deferred exports on sight basis, a press statement said on Tuesday. 

This solution is secure, faster and cost effective and will help to shorten the cash cycle of the exporters. 
Under the agreement, City bank will be able to provide a comprehensive solution to the exporters with the help of the PrimaDollar’s real-time communication, global underwriting and leading edge online platform. 

With the real time online solution of Primadollar, City Bank will be able to offer the solutions to the exporters 24/7. 

Sheikh Mohammad Maroof , additional managing director, and Munawar Uddin, Country Lead Bangladesh of Primadollar, signed the agreement of behalf of their respective organisations. Other senior officials from both the organisations were present at the ceremony.

HM