City Bank, ITFC explore new avenues for trade finance cooperation

City Bank PLC recently hosted a senior delegation from the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, at its head office to explore opportunities for expanding trade finance cooperation.

The ITFC delegation was led by H.E. Eng. Adeeb Yousuf Al Aama, Chief Executive Officer, while City Bank’s delegation was led by Mashrur Arefin, Managing Director and CEO, along with senior members of the bank’s management team.

City Bank has maintained a strong and productive relationship with ITFC since 2019. At present, the bank has a USD 40 million Murabaha financing facility with ITFC, including a USD 10 million syndicated facility, supporting its trade finance operations and facilitating international trade.

During the meeting, both sides reaffirmed their commitment to strengthening the strategic partnership between City Bank and ITFC and discussed potential areas for expanded collaboration. Key areas included export financing, green financing and opportunities to facilitate greater intra-OIC trade transactions.

The meeting highlighted the shared commitment of City Bank and ITFC to expanding Shariah-compliant trade finance solutions and creating greater opportunities for businesses engaged in international trade.

The collaboration is expected to support Bangladesh’s key trade sectors, strengthen the country’s international trade linkages and contribute to broader economic growth through enhanced access to trade finance.

The high-level engagement further underscores City Bank’s focus on strengthening strategic partnerships and expanding innovative financing solutions to support the evolving needs of Bangladesh’s trade and business community.