Mercantile Bank Limited (MBL) has signed a Memorandum of Understanding (MoU) with PrimaDollar to facilitate the exporters of the bank involved in foreign trade on deferred sales contract terms.
PrimaDollar is a UK based global trade financier. Currently, it has 12 offices across the globe.
The agreement was signed on Monday at the bank's head office in the capital, said a press statement.
Under this deal, the exporters of the bank will be eligible to receive up to 95% of the deferred value of the goods on sight basis from the PrimaDollar.
Shamim Ahmed, deputy managing director of Mercantile Bank Limited and Munawar Uddin, country manager of PrimaDollar signed deal on behalf of their respective organisations.
Other senior officials from both the organisations were also present on the occasion.