BRAC Bank, IFC sign deal to facilitate offshore banking

- A Monitor Report 16 Apr, 2018  |    -      +
Dhaka : BRAC Bank Limited and International Finance Corporation (IFC), a World Bank Group concern, signed an agreement for the support and funding of the international trade and lending programme for its offshore banking clients.

Under the agreement, BRAC Bank will receive US$ 40 million from IFC as working capital solutions.

Selim RF Hussain, Managing Director and CEO, BRAC Bank Limited, and Wendy Werner, Country Manager, IFC Bangladesh, exchanged documents of the agreement at BRAC Bank's Head Office in Dhaka on April 8.

AK Joaddar, Deputy Managing Director and CFO; Shaheen Iqbal, Head of Treasury and Financial Institutions, Zara Jabeen Mahbub, Head of Communica-tions, BRAC Bank, and Ehsanul Azim, Senior Investment Officer, FI Group, IFC, were also present.

This is a fresh line on top of existing US$ 50 million long term loan and non-funded line under Global Trade Finance Programme of IFC to BRAC Bank Limited.

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