Standard Chartered recognised as ‘Market Leader for Trade Finance’

Standard Chartered Bangladesh has been recognised as the "Market Leader for Trade Finance" in Bangladesh as part of the "Euromoney Trade Finance Survey and Asiamoney Trade Finance Survey 2022".

Conducted by Euromoney and Asiamoney respectively, the 2022 surveys saw responses from over 10,700 individual clients – emphasising Standard Chartered Bangladesh's contribution to the trade finance space, said a press release. 

Naser Ezaz Bijoy, chief executive officer, Standard Chartered Bangladesh said, "The greatest asset of any financial institution is the trust placed in us by our clients and the communities we serve. We are humbled to be recognised as 'Market Leader for Trade Finance' by the Euromoney and Asiamoney Trade Finance Surveys based on client feedback, which is a testament to the trust earned over 117 years uninterrupted service in Bangladesh."

"As one of the longest standing partners in progress to Bangladesh, it has been our mission to be the trusted gateway to Bangladesh, starting with executing the first sovereign LC for sovereign Bangladesh and today enabling around 14% of country trade. The last two years have seen us grow and evolve to meet client and community needs – and I am excited to keep doing just that in the coming months and years," he added.

Enamul Huque, managing director, head of Client Coverage, Corporate, Commercial & Institutional Banking, Standard Chartered Bangladesh said, "Winning Market Leader for Trade Finance in both surveys is an honour – especially because this win is based on client opinions and testimony. We are grateful to our clients for their votes of confidence and to our regulators and stakeholders for working in concert with us during these unprecedented times."

According to the media release, Standard Chartered Bangladesh plays a key role in leading and shaping the trade finance space. In 2021 alone, Standard Chartered Bangladesh pioneered the first trade financing transaction using Risk Free Rate (RFR) – to support and expedite the transition from LIBOR. The bank executed the nation's first local Sustainable Trade Finance Transaction. It launched the country's first Digital Trade Counter and arranged the first ever Green Bond in Bangladesh for Pran Agro Limited, a concern of PRAN-RFL Group as well as the first Green Zero-Coupon Bond for SAJIDA Foundation.

Euromoney is an English-language monthly magazine focused on business and finance. Established in 1989, Asiamoney, is a financial publication focused on publishing content related to business and finance.