NCC Bank signs supply chain finance deal with Akij Resource

NCC Bank has signed a memorandum of understanding (MoU) with six companies of Akij Resource Group to introduce a supply chain finance (SCF) arrangement for their designated suppliers.

The companies include Akij Essentials Limited, Hashem Rice Mills Limited, Akij Agro Feed Limited, Akij Ispat Limited, Nobayon Traders Limited and Akij Cement Company Limited, according to a press release.

Under the agreement, NCC Bank will extend supply chain financing facilities to eligible suppliers of the companies, enabling them to meet working capital requirements through timely access to finance against buyer-approved invoices.

The signing ceremony was held yesterday at NCC Bank's head office in Motijheel, Dhaka. Md Habibur Rahman, deputy managing director of NCC Bank, and Md Ruhul Islam, director of Akij Agro Feed Limited, signed the agreement on behalf of their respective organisations.

Among others, M Khurshed Alam, additional managing director, Md Zakir Anam and Mohammed Mizanur Rahman, deputy managing directors, Sharif Mohammad Mahsin, senior vice-president and head of SME, Mufti Mustafizur Rahman, senior vice-president and head of branch and business at NCC Bank Bhaban branch, and Sheikh Sadi, chief treasury officer of Akij Resource Group, were present at the event.

Sohanur Rahaman Sohan, deputy chief operating officer of Akij Resource Group, along with other senior officials from both organisations, also attended.

M Khurshed Alam said the partnership underscored NCC Bank's commitment to supporting sustainable business growth by strengthening supplier ecosystems through innovative banking solutions.

He added that collaboration with companies of Akij Resource Group, known for their strong market presence and operational excellence, reflected the bank's focus on building long-term partnerships that create value across the supply chain.