Standard Chartered Bangladesh, in collaboration with BRAC Bank, has introduced a new trade finance solution to support exporters and enhance liquidity in Bangladesh’s financial sector.
Standard Chartered Bangladesh has unveiled its innovative Export Receivable Finance for Financial Institutions (RFFI), marking a significant milestone in the country’s financial landscape. This new initiative, developed in partnership with BRAC Bank PLC, aims to improve liquidity for exporters by facilitating the early repatriation of export proceeds under deferred letters of credit (LCs).
Under this collaboration, Standard Chartered will leverage its global network and established relationships with international buyer banks to offer receivable financing at competitive rates. This solution is designed to help exporters gain faster access to their funds, boosting their cash flow and overall financial stability.
Luthful Arefin Khan, the country head of transaction banking at Standard Chartered Bangladesh, and Md Shaheen Iqbal, deputy managing director and head of treasury, financial institutions, and corporate and institutional banking at BRAC Bank, recently signed the agreement in Dhaka.
Khan expressed, “With the introduction of RFFI, we are proud to extend our support to the export sector. BRAC Bank has been a trusted partner for many years, and we are grateful for their collaboration in this pivotal initiative to enhance Bangladesh’s export capabilities.”
Iqbal added, “This strategic partnership with Standard Chartered Bangladesh aligns with our shared vision to create an enabling environment for exporters and drive innovation within the banking sector. By combining Standard Chartered’s global network, market expertise, and client reach, we are able to offer enhanced liquidity support and strengthen the financial position of Bangladesh’s exporters.”
Through the RFFI programme, BRAC Bank will provide exporters with immediate access to funds, allowing them to receive payment before the term ends. This will not only improve their cash flow and working capital management but also shorten the overall cash cycle.
Standard Chartered has already established itself as a market leader in cross-border supplier financing, working with 12 global buyers who source products from Bangladesh. This new programme builds on that success, extending the benefits of structured trade finance to local partner banks and further strengthening Bangladesh’s export ecosystem.