Standard Chartered, Eastern Bank sign MRPA to support exporters’ liquidity
Standard Chartered Bank has launched Export Receivable Finance for Financial Institutions/Banks (RFFI) in Bangladesh.
The programme uses the bank's global network and relationships with international buyer banks to support receivables financing for exporter clients of local partner banks at competitive rates.
Under the programme, Standard Chartered Bank has signed a Master Receivable Purchase Agreement (MRPA) with Eastern Bank PLC. The arrangement will allow exporters of Eastern Bank to receive early payment against deferred letters of credit. The solution is designed to improve liquidity and working capital by shortening the cash cycle and enabling access to funds before payment maturity.
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Standard Chartered already offers cross-border supplier financing programmes that support export proceeds against deferred terms. With the introduction of the RFFI programme, the bank is extending similar support to partner banks. The export solution is expected to broaden access to trade finance and support business activity across the export sector.
Luthful Arefin Khan, Country Head of Transaction Banking, Standard Chartered Bank, Bangladesh, said, "Standard Chartered has consistently maintained a leadership position in facilitating cross-border trade flows and correspondent banking solutions for our financial institution clients. Through the RFFI programme, we are pleased to further strengthen our support across the export value chain as well. Eastern Bank has been a longstanding and trusted counterparty, and we appreciate their collaboration in advancing this strategic initiative."
Commenting on the partnership, Md Jabedul Alam, Head of Transaction Banking at Eastern Bank PLC, said, "This partnership with Standard Chartered Bank reflects our commitment to delivering innovative trade finance solutions for our exporters. By improving access to timely liquidity, we aim to support sustainable business growth and strengthen Bangladesh's position in global trade."
Standard Chartered Bangladesh, with more than 120 years of continuous presence in the country, says it remains the only multinational universal bank in Bangladesh.
Eastern Bank PLC is a private commercial bank in Bangladesh, serving retail, SME, corporate and non-resident Bangladeshi (NRB) customers.
