Mercantile Bank, PrimaDollar sign MoU

Staff Correspondent

23 September, 2020 12:00 AM printer

Mercantile Bank, PrimaDollar sign MoU

Mercantile Bank Deputy Managing Director Shamim Ahmed and PrimaDollar Country Manager Munawar Uddin exchange documents after signing an MoU at Mercantile Bank head office in the capital on Monday.

Mercantile Bank Limited (MBL) signed an Memorandum of Understanding (MoU) with PrimaDollar, UK  to facilitate Fintech based export factoring services to the customers of MBL exporting under open account credit terms on Monday.

Under export factoring, exporters of MBL may be eligible to receive up to 95 percent of the deferred value of the goods on sight basis from PrimaDollar, UK, said a press release.

Shamim Ahmed, Deputy Managing Director and CAMLCO of Mercantile Bank Limited and Munawar Uddin, Country Manager of PrimaDollar signed the MoU on behalf of their respective organisations on bank’s premises.

Other officials from both the organisations were also present on the occasion.