Mercantile Bank Signs MoU With Germany-Based Tradewind for Factoring Services
Mercantile Bank PLC has recently signed a memorandum of understanding with Tradewind GmbH, a Germany-based institution.
Under the agreement, Tradewind will provide export factoring on a non-recourse basis against sales contracts for Mercantile Bank's exporter and importer clients. The arrangement also covers usance LC discounting and import factoring services.
The signing ceremony was held at Mercantile Bank's head office, attended by senior officials and representatives of both institutions.
Signing for Mercantile Bank were its Additional Managing Director Ahmed Shahin, Deputy Managing Director Shamim Ahmed, and Executive Vice President and head of the International Division Md Fakhruzzaman Chowdhury.
Signing for Tradewind were its Regional Chief Executive Officer for the Middle East and South Asia, Soheil Jali, Regional Managing Director for the same region Mahmud Ibrahim, and Bangladesh Country Commercial Head Md Rashedul Hasan.
