Officials of UBL and SCBBD sign an MOU at UBL's Head Office, Gulshan, Dhaka
Dhaka: Unilever Bangladesh Limited (UBL) signed a Memorandum of Understanding (MOU) with Standard Chartered Bank Bangladesh (SCBBD) to avail the ‘Supply Chain Finance’ program – a first-of-its-kind financing program for the dealers and suppliers of the bank’s corporate clients. The event took place in a ceremony held recently at UBL’s Head Office, Gulshan, Dhaka.
The financing program is fully automated, in which all financing steps will be processed online.
Kedar Lele, CEO, Unilever Bangladesh Limited and Naser Ezaz Bijoy, CEO, Standard Chartered Bangladesh inked the contract on behalf of their respective companies. Other senior officials of the two companies were also present at the ceremony.
Under this program, UBL’s distributors will get financing facility on easier terms from Standard Chartered Bank for goods purchased from UBL.
Standard Chartered bank was the first foreign bank to launch Supply Chain Finance as a program in 2015 in line with global standards, with an objective to deepen business relationships with not just their client, but the client’s suppliers and distributors as well.