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ITFC Secures $40M Financing for Prime Bank

Industry: Bank, Financial
Company: International Islamic Trade Finance Corp (ITFC), Prime Bank Limited
Company Intelligence Tag: Business Insights

The International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank (IsDB) Group, has successfully orchestrated a syndicated murabaha financing facility amounting to $40 million for Prime Bank Ltd. This financial arrangement holds the objective of fortifying Prime Bank’s trade operations, with a specific focus on the SME and corporate sectors. The agreement, signed at Prime Bank’s headquarters in Dhaka, marks a pivotal juncture in the collaboration between the bank and ITFC. Through this strategic alliance, the ITFC is poised to contribute significantly to the national economy by furnishing essential foreign currency resources. The partnership also bears the potential to stimulate the growth trajectory of SMEs.

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