MBL signed MoU with PrimaDollar, UK

Mercantile Bank Limited (MBL) signed a Memorandum of Understanding (MoU) with PrimaDollar, UK to facilitate Fintech-based export factoring services to the customers of MBL exporting under Open Account credit terms on Monday. Shamim Ahmed, Deputy Managing Director & CAMLCO of Mercantile Bank Limited and Munawar Uddin, Country Manager of PrimaDollar, signed the MoU on behalf of their respective organisations at bank's premises. Under Export Factoring, exporters of MBL may be eligible to receive up to 95 per cent of the deferred value of the goods on sight basis from PrimaDollar, UK.