Janata Bank signs agency arrangement deal with IDB |
Janata Bank will work as an agency of Islamic Development Bank (IDB) in Bangladesh.
A deal to this effect was signed between the two at the IDB headquarters in Jeddah on Saturday, says a press release.
Murshid Kuli Khan, managing director of Janata Bank, and Dr Syed Jaafar Aznan, vice-president of IDB, signed the deal on behalf of their organisations.
Under the arrangement, exporters will avail themselves of the post shipment export finance under the IDB fund.
Besides, imported raw material and capital machinery will be financed from this IDB fund. It will be effective only for export and import from OIC countries.
The deal will also help Bangladeshi businessmen conduct business with the OIC nations.