Dhaka Bank inks issuing bank deal with Exim Bank of India

Dhaka Bank signed an issuing bank agreement with Exim Bank of India under the latter's Trade Assistance Programme in Dhaka yesterday.

Emranul Huq, managing director of Dhaka Bank, and Tarun Sharma, chief general manager and chief financial officer of the Exim Bank of India, signed the agreement at the former's head office in Gulshan, according to a press release.

Through this agreement, Dhaka Bank is going to enhance its existing support for corporate and SME clients' trade finance needs in India.

"The present rising global crisis due to the Russia-Ukraine war has greatly disrupted the supply chain of different items," said Huq.

"Consequently, bilateral trade settlement with India will increase manifold and this agreement will act as a catalyst to alleviate the growing flow of trade," he added.

The Exim Bank of India is a specialised financial institution wholly owned by the Indian government that has a presence in foreign cities around the world.

They are the Export Credit Bank of India to support their local export business.

Besides, they have expertise in corporate business, guarantee business, trade finance business and project financing along with other banking services.

Dhaka Bank believes this agreement will deepen the relationship between Bangladesh and India.

Mohammad Abu Jafar, additional managing director of Dhaka Bank, and other senior officials from both organisations were present at the signing.