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2018-03-15
EBL SIGNS FOR SUPPLY CHAIN FINANCE PLATFORM
Eastern Bank Ltd. signed an agreement to implement VEEFIN, a solution for Supply Chain Finance platform to facilitate easy and instant finance to the suppliers and distributors of large corporate, through seamless supply chain finance transactions.

Under this agreement, EBL will invite large corporate and commercial clients to join the VEEFIN Supply Chain Finance platform and connect their suppliers and distributors. The selected suppliers and distributors will be able to raise financing requests from their computer or mobile phone applications without having to visit the bank's branches. They simply need to forward their supply and purchase requests to EBL and will receive the money in their accounts.

Ali Reza Iftekhar, Managing Director & CEO of EBL., and Jigar Shah, Director of Chain Fintech Solutions Ltd., signed the agreement on behalf of their respective organizations. Among others present were Ahmed Shaheen, Deputy Managing Director, M. Khorshed Anowar, Acting Head of Retail Banking, Oli Ahad Chowdhury, Head of Assets, Consumer & Business, and M. Mostafiduzzaman, Head of Supply Chain Financing of EBL.

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