Standard Chartered Bangladesh (StanChart) recently implemented a unique structured trade solution for T.K. Group, helping them navigate challenging market conditions to procure critical commodities with unmatched efficiency.
The facility is supporting import of critical commodities such as refined, bleached, and deodorised (RBD) palm olein; crude degummed soybean oil (CDSO); wheat; and other essentials, says a press release.
This innovative structured trade solution leverages Standard Chartered's high quality balance sheet and unique capabilities to enable T.K. Group to access funds at a competitive rate and eliminate exchange rate risk, despite market headwinds.
The solution will help T.K. Group manage their supply chain seamlessly, utilising the Bank's strong network and technology platforms to streamline processes, and capitalise on market opportunities.
Luthful Arefin Khan, Country Head of Transaction Banking, StanChart said: "We are proud to be part of T.K. Group's long-standing success in Bangladesh by creating a solution that not only meets their financial requirements, but also enhance their market success and overall supply chain efficiency. We look forward to continuing our collaboration and to supporting T.K. Group to achieve their ambitions."
Tariq Ahmed, Senior Director, T.K. Group of Industries, said, "Standard Chartered Bangladesh has always been a trusted partner. Their innovative product solutions have been ahead of the curve in the market, and we have been greatly benefitted from that. Through this facility, we have been able to get timely liquidity and low-cost financing, which is pivotal in meeting our import obligations and maintaining market stability. We wholeheartedly thank Standard Chartered for supporting us."
With over 119 years of uninterrupted presence in the nation, Standard ChanChart is the only multinational universal bank in Bangladesh.
T. K. Group of Industries is a Bangladeshi industrial conglomerate known for its vegetable oil and grains business. It also has interests in steel, shipbuilding, pulp and paper, plastics, cement, and textiles. The conglomerate is headquartered in Chittagong.
