StanChart, Eastern Bank partner to boost export financing

Standard Chartered Bank has signed a master receivable purchase agreement with Eastern Bank PLC to launch export receivables finance for financial institutions/banks (RFFI) in Bangladesh.

The programme uses the bank’s global network and relationships with international buyer banks to support receivables financing for exporter clients of local partner banks at competitive rates.

The arrangement will help exporters of Eastern Bank receive early payments against deferred letters of credit. The solution is designed to improve liquidity and working capital by shortening the cash cycle and enabling access to funds before payment maturity.

Luthful Arefin Khan, country head of transaction banking at Standard Chartered Bank, Bangladesh, and Md Jabedul Alam, head of transaction banking at Eastern Bank PLC, signed the agreement in Dhaka recently, according to a press release.

Emphasising the significance of the partnership, Khan said, “Standard Chartered has consistently maintained a leadership position in facilitating cross-border trade flows and correspondent banking solutions for our financial institution clients.

“Through the RFFI programme, we are pleased to further strengthen our support across the export value chain as well. Eastern Bank has been a longstanding and trusted counterparty, and we appreciate their collaboration in advancing this strategic initiative,” he added.

Commenting on the partnership, Alam said, “This partnership with Standard Chartered Bank reflects our commitment to delivering innovative trade finance solutions for our exporters. By improving access to timely liquidity, we aim to support sustainable business growth and strengthen Bangladesh’s position in global trade.”

With over 120 years of continuous presence in the country, Standard Chartered Bangladesh remains the only multinational universal bank in Bangladesh. Eastern Bank PLC is a leading private commercial bank in Bangladesh, serving retail, SME, corporate and non-resident Bangladeshi (NRB) customers.