The Social Islami Bank Limited (SIBL) has signed a Memorandum of Understanding (MoU) with the UK based PrimaDollar Operations Limited to facilitate the exporters of the bank involved in foreign trade on deferred sales contract terms.
The agreement was signed on Tuesday at the bank's head office in the capital, said a press statement.
Kazi Towhidul Alam, additional managing director of SIBL and Munwar Uddin, country manager Bangladesh of PrimaDollar signed the agreement on behalf of their respective organisations.
Md Akmal Hossain, EVP and head of international division of SIBL along with its other officials were present on the occasion.
This agreement will facilitate the exporters of the bank involved in foreign trade on deferred sales contract terms.
In this regard, PrimaDollar will provide fintech based factoring solution to the exporters of the bank wherein the exporters should be able to receive the payment of their deferred exports on sight basis, the press statement read.
PrimaDollar, a global trade financier was founded in 2015 and have headquartered in the UK. At present, they have 12 offices across the globe.