StanChart emerges as 'Market Leader for Trade Finance'

FE Team | Published: May 15, 2022 22:49:08

Standard Chartered Bangladesh has been recognised as the 'Market Leader for Trade Finance' in Bangladesh, according to the 2022 Euromoney Trade Finance Survey and the 2022 Asiamoney Trade Finance Survey.
Conducted by Euro-money and Asiamoney, the surveys aggregate and analyse independent client responses.
Divided into quantitative and qualitative sections, each survey asks clients to comment on their use of trade finance services and nominate their top providers. Providers who meet the criteria and necessary provisions of having the greatest market share globally, regionally, and locally are designated as Market Leaders.
Clients are also asked to evaluate the quality of service provided by financial institutions as part of the survey, says a press release.
The surveys saw responses from over 10,700 individual clients -- emphasising Standard Chartered Bangla-desh's strong presence in and contribution to the trade finance space.
Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, said, "The greatest asset of any financial institution is the trust placed in us by our clients and the communities we serve. We are humbled to be recognised as Market Leader for Trade Finance by the Euromoney and Asiamoney Trade Finance Surveys based on clients' feedback, which is a testament to the trust earned over 117 years uninterrupted service in Bangladesh."
"As one of the longest standing partners in progress to Bangladesh, it has been our mission to be the trusted gateway to Bangladesh, starting with executing the first sovereign LC for sovereign Bangladesh and today enabling around 14% of country trade. The last two years have seen us grow and evolve to meet client and community needs - and I am excited to keep doing just that in the coming months and years," he added.
In 2021, Standard Chartered Bangladesh pioneered the first trade financing transaction using Risk Free Rate (RFR) to support and expedite the transition from LIBOR; executed the nation's first local Sustainable Trade Finance Transaction; launched the country's first Digital Trade Counter; arranged the first ever Green Bond in Bangladesh for Pran Agro Limited; and arranged the first Green Zero-Coupon Bond for SAJIDA Foundation.