StanChart, Unilever ink MoU

Unilever Bangladesh Limited (UBL) inked a Memorandum of Understanding (MOU) with Standard Chartered Bank to avail the 'Supply Chain Finance' programme - a financing package for the dealers and suppliers of the Bank's corporate clients, said a statement.
The programme with UBL is a first-of-its-kind, fully automated financing program, in which all financing steps will be processed online.
Kedar Lele, CEO, Unilever Bangladesh Limited and Naser Ezaz Bijoy, CEO, Standard Chartered Bangladesh signed the agreement on behalf of their respective companies in a ceremony held recently at UBL's Head Office, Dhaka.
Other senior officials of the two companies were also present at the ceremony.
Under this programme, UBL's distributors will get financing facility on easier terms from Standard Chartered Bank for goods purchased from UBL. Standard Chartered bank was the first foreign bank to launch Supply Chain Finance as a program in 2015 in line with global standards, with an objective to deepen business relationships with not just their client, but the client's suppliers and distributors as well.