NCC Bank has signed a Memorandum of Understanding with Tradewind Finance GmbH, Germany for facilitating business of Bangladeshi exporters recently. Under this agreement export clients of NCC Bank will be able to meet their present and immediate cash needs at an affordable cost by discounting their future receivable export proceeds.
Mohammad Mamdudur Rashid, MD and CEO of NCC Bank, and Soheil Zali, regional commercial director of Tradewind Finance, signed the agreement on behalf of their respective organisations over a virtual signing ceremony stated in a press release.
Mohammad Mamdudur Rashid thanked Tradewind Finance for coming forward with their services and anticipated that this agreement will facilitate trade activities of the country.
He also added that factoring will help Exporters to boost their business and export of the country as well.
Soheil Zali, regional commercial director of Asia, Tradewind Middle East Limited; commented, "We believe this collaboration between Tradewind and NCC Bank will support SMEs across Bangladesh to conduct exports on Open-Account credit terms while enjoying extensive payment risk coverage."
"We want to provide Bangladeshi exporters with practical and scalable liquidity management solutions to become more competitive and agile" he added.
Khondoker Nayeemul Kabir, DMD; Md Mahabub Alam, SEVP and head of Corporate Unit; Mohammad Marufur Rahman Khan, VP and head of Financial Institutions Department; Mohammed Sumon Rahman, SAVP (FID) of NCC Bank; were present at the event.
Md Rashedul Hasan, AVP, Business Development, Tradewind Finance GmbH, Bangladesh Liaison Office, was also present at the event.