Business Desk :
Prime Bank Limited has signed a Murabaha Agreement with International Islamic Trade Finance Corporation (ITFC)- a member organization of Islamic Development Bank (IsDB). The arrangement will support growing trade finance business of Prime Bank for SME and Corporate segment. Under the deal, ITFC will provide trade financing facility against Letter of Credit issued by Prime Bank. This is the first time Prime Bank is availing the Trade Financing facility from ITFC under a Murabaha Agreement, said a press release.
Prime Bank’s Acting Managing Director and CEO Faisal Rahman and ITFC’s CEO Eng. Hani Salem Sonbol led the agreement signing ceremony on behalf of respective organizations held on Tuesday.
Prime Bank Limited has signed a Murabaha Agreement with International Islamic Trade Finance Corporation (ITFC)- a member organization of Islamic Development Bank (IsDB). The arrangement will support growing trade finance business of Prime Bank for SME and Corporate segment. Under the deal, ITFC will provide trade financing facility against Letter of Credit issued by Prime Bank. This is the first time Prime Bank is availing the Trade Financing facility from ITFC under a Murabaha Agreement, said a press release.
Prime Bank’s Acting Managing Director and CEO Faisal Rahman and ITFC’s CEO Eng. Hani Salem Sonbol led the agreement signing ceremony on behalf of respective organizations held on Tuesday.
