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2018-09-09
EBL and ITFC sign a landmark trade financing agreement
Caption: In presence of Minister of Finance Abul Maal Abdul Muhith, EBL Managing Director and CEO Ali Reza Iftekhar and CEO of International Islamic Trade Finance Corporation (ITFC) Eng. Hani Salem Sonbol signing an important trade financing agreement at a ceremony held at IDB Bhaban on September 9, 2018.

To support the private sector in Bangladesh, Eastern Bank Limited (EBL) and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), have signed an important trade financing agreement on September 9, 2018. The signing of agreement was organized to mark the inauguration of the IsDB Groups new Regional Hub in Bangladesh.

In presence of Minister of Finance Abul Maal Abdul Muhith, EBL Managing Director and CEO Ali Reza Iftekhar and CEO of International Islamic Trade Finance Corporation (ITFC) Eng. Hani Salem Sonbol signed the agreement on behalf of their respective organizations at a ceremony held at IDB Bhaban in the city. Dr. Bandar M H Hajjar, IsDB Group President along with other dignitaries attended the ceremony.

Ali Reza Iftekhar reiterated initiation of solid relationship with ITFC as a Development Financial Institution partner and conveyed his gratitude for all the supports that ITFC is rendering for the development of financial sector of Bangladesh. He also pointed that EBL will continue its support for the growth and development of international trade businesses in Bangladesh.

The financing arrangement will significantly support the growth of International trade businesses of Bangladesh. Eastern Banks Corporate and commercial clients will specially reap the benefits of this low cost fund.

The International Islamic Trade Finance Corporation (ITFC) was established with the purpose of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socio-economic conditions of the people across the world.

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