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."
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