Citibank executes 1st CSF transaction in BD

Citibank, N.A. Bangladesh, after launching its internationally acclaimed Citi Supplier Finance (CSF) program in Bangladesh this year, has recently completed its first CSF transaction with M&J Group, a renowned RMG manufacturer of the country.
This is an all-digital, straight-through processing (STP) solution designed by Citibank Bangladesh to offer real-time working capital solutions to both buyers and suppliers, says a press release.
Md Moinul Huq, Citi Country Officer for Bangladesh, said, "CSF is a time-tested and widely used platform for supply chain finance and we are extremely delighted to launch this capability in Bangladesh. Alongside our clients, this will also be a truly end-to-end digital experience for their suppliers."
Md. Salahuddin Ahmed, Managing Director of M&J Group, added: "Bangladesh is a land of great opportunity and there is a tremendous role Citi Supplier Finance can play by supporting clients and their extended supply chain partners in better managing cashflows."