Eastern Bank Ltd (EBL) recently signed an agreement to implement VEEFIN, a solution for Supply Chain Finance platform to facilitate easy and instant finance to the suppliers and distributors of large corporate, through seamless supply chain finance transactions.
Ali Reza Iftekhar, Managing Director and CEO of EBL and Jigar Shah, Director of Chain Fintech Solutions Ltd signed the agreement to this effect in Dhaka recently.
Under this agreement, EBL will invite large corporate and commercial clients to join the VEEFIN Supply Chain Finance platform and connect their suppliers and distributors. The selected suppliers and distributors will be able to raise financing requests from their computer or mobile phone applications without having to visit the bank's branches.They simply need to forward their supply and purchase requests to EBL and will receive the money in their accounts.
EBL Deputy Managing Director Ahmed Shaheen, Acting Head of Retail Banking M. Khorshed Anowar, Head of Assets, Consumer and Business Oli Ahad Chowdhury and M. Mostafiduzzaman, Head of Supply Chain Financing were present, among others on the occasion, said a statement.
-rmc//