Citibank executes 1st digitally enabled CSF transaction

Citibank, NA Bangladesh recently completed its first Citi Supplier Finance (CSF) transaction with M&J Group, an RMG manufacturer of the country, after launching its internationally acclaimed CSF programme in Bangladesh.

This is an all-digital, straight-through processing (STP) solution designed by Citibank Bangladesh to offer real time working capital solutions to both buyers and suppliers, said a press release.

"CSF is a time-tested and widely used platform for supply chain finance and we are extremely delighted to launch this capability in Bangladesh. Alongside our clients, this will also be a truly end-to-end digital experience for their suppliers," said Md Moinul Huq, Citi country officer for Bangladesh.

"Bangladesh is a land of great opportunity and there is a tremendous role Citi Supplier Finance can play by supporting clients and their extended supply chain partners in better managing cash flows," said Md Salahuddin Ahmed, managing director of M&J Group.