Bangladesh: The ITFC Inks Deal with The City Bank for USD 15 Million of Trade Finance Program

The International Islamic Trade Finance Corporation (ITFC) has entered into a USD 15 million trade finance program with The City Bank (TCB), Bangladesh’s very first privately owned commercial bank, to launch a USD 15 million trade finance deal focussing on Bangladesh’s private sector.

According to a statement by TCB, under this program, entrepreneurs can avail financing from a dedicated fund under its Islamic banking window to import raw materials from international markets.

Sheikh Mohammad Maroof, the Additional Managing Director of TCB stated that the Murabahah facilities under this program will enable TCB to provide a better service to its importing customers through e...