The City Bank Limited and the International Finance Corporation (IFC) recently signed a deal to facilitate investment in the global spectrum of the bank.

Under this arrangement, IFC will undertake necessary arrangement to enlist City Bank under its Global Trade Finance Programme and provide it short term finance facilities.

The deal will enable City Bank get dollar at low costs to strengthen its trade financing service, said a press release.

K Mahmood Sattar, managing director and CEO of the Bank and Thomas S Davenport, director, South Asia Region of IFC, signed the agreement on behalf of their respective institutions at the Bank’s head office.

Faruq M Ahmed, additional managing director of City Bank, Sheikh Mohammad Maroof, head of Wholesale Banking Division, and Kyle F Kelhofer, country manager, Bangladesh, Bhutan and Nepal and M Rehan Rashid, senior country officer of IFC were present on the occasion.

The Daily Sun/Bangladesh/ 22th Jan 2012