FMO, StanChart sign deal with three PCBs on BDTEF
Tuesday, 19 June 2007
FE Report
Netherlands Development Finance Company (FMO) and Standard Chartered (StanChart) Bank recently signed an agreement 'Bangladesh Trade Enhancement Facility (BDTEF)' with three private commercial banks (PCBs).
With its trade enhancement facility, the FMO partly guarantees the confirmation by StanChart Bank for letters of credit (L/Cs) issued by the participating PCBs in the country.
Dhaka Bank Ltd, Dutch-Bangla Bank Ltd, Prime Bank Ltd and Southeast Bank Ltd also signed deals with FMO under the same parasol.
Managing directors and senior executives from the participating banks, StanChart Director and Head of FI Humaira Azam and FMO representatives were present on the occasion.
The agreement on BDTEF was first signed by StanChart Bank with FMO in February 2001. BDTEF holds training and development programmes under the sponsorship of FMO and StanChart Bank.
FMO and StanChart organised an asset and liability management training programme as part of the efforts at a city hotel from June 03 to June 07.
SIMARCH NV, Belgium CEO Ziegfried Vermaak conducted the high-profile course for senior executives of six participating banks under the BDTEF.
Netherlands Development Finance Company (FMO) and Standard Chartered (StanChart) Bank recently signed an agreement 'Bangladesh Trade Enhancement Facility (BDTEF)' with three private commercial banks (PCBs).
With its trade enhancement facility, the FMO partly guarantees the confirmation by StanChart Bank for letters of credit (L/Cs) issued by the participating PCBs in the country.
Dhaka Bank Ltd, Dutch-Bangla Bank Ltd, Prime Bank Ltd and Southeast Bank Ltd also signed deals with FMO under the same parasol.
Managing directors and senior executives from the participating banks, StanChart Director and Head of FI Humaira Azam and FMO representatives were present on the occasion.
The agreement on BDTEF was first signed by StanChart Bank with FMO in February 2001. BDTEF holds training and development programmes under the sponsorship of FMO and StanChart Bank.
FMO and StanChart organised an asset and liability management training programme as part of the efforts at a city hotel from June 03 to June 07.
SIMARCH NV, Belgium CEO Ziegfried Vermaak conducted the high-profile course for senior executives of six participating banks under the BDTEF.