Eastern Bank Ltd recently signed an agreement with Germany-based bank Commerzbank AG, to work together in online foreign exchange trading. The deal will add significant value to EBL and its customers to importers, exporters, corporate, SMEs and consumer customers having foreign exchange transactions, said a press release. M. Fakhrul Alam, deputy managing director, Sidhartha Roy, acting head of Treasury, Md Obaidul Islam, head of ID of EBL and Martin Hercules, chief representative, Patrick Thiel, relationship manager and Gabriele Kenter, vice president for electronic Foreign Exchange Trading of Commerzbank, signed the agreement on behalf of their respective sides at the head office of EBL in the city.

Ali Reza Iftekhar, managing director and CEO of EBL was also present at the signing ceremony. He said EBL has ventured into massive induction of technology in operation and expressed the hope the agreement for online trading with Commerz Bank will take the both parties one step ahead. Click and Trade Foreign Exchange Electornic Trading System is an advanced online trading platform with enhanced, accurate, fast and tight pricing demand. It will also ensure online access to international market and real time competitive FX rates as an efficient alternative channel having 150 currency pairs and covering all major currencies for Forex transactions, the statement added.

News: Daily Sun/Bangladesh/9 Feb 2011.