City Bank recently hosted a senior delegation from the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, at its head office to explore opportunities for further cooperation in trade finance.
The ITFC delegation was led by its Chief Executive Officer, Adeeb Yousuf Al Aama, along with other senior delegates, reads a press release. City Bank’s delegation was led by its Managing Director and CEO, Mashrur Arefin, along with other senior members of the bank’s management team.
City Bank has maintained a strong and fruitful relationship with ITFC since 2019. The bank currently has a USD 40 million Murabaha financing facility with ITFC, including a USD 10 million syndicated facility, supporting its trade finance activities and facilitating international trade.
During the meeting, both sides reaffirmed the strong strategic partnership between City Bank PLC and ITFC and explored potential areas for further collaboration, including export financing, green financing and opportunities to expand intra-OIC trade transactions.
The high-level meeting marks an important step towards further expanding Shariah-compliant trade finance solutions, supporting Bangladesh’s key trade sectors, strengthening international trade linkages and contributing to the country’s broader economic growth.
