City Bank launches digital supply chain finance facility in Bangladesh

Monday 6 August 2018 10:07 CET | News

City Bank has announced the launch of its end-to-end digital Supply Chain Finance and Distributor Finance Facility, aimed at Bangladesh businesses.

The platform will enable thousands of SME businesses to access finance, particularly short-term working capital requirement, along with many other banking facilities under one umbrella across the country. Top corporates like Apex Footwear and EON Group are already using this online platform and the bank has signed an agreement with Pran-RFL Group for the same.

The launch has been inaugurated by City Bank officials on Sunday, the 5th of August 2018. Both supply chain finance and distributor finance are popular products in the developed countries and to keep pace with the globalisation, the bank has introduced these products on online platform to strengthen the backward and forward linkage of the corporate.

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Keywords: City Bank, supply chain finance, digital supply chain finance facility, Bangladesh, Distributor Finance Facility, SME, short-term working capital, Apex Footwear, EON Group
Countries: World