Standard Chartered Bangladesh has been recognised as the “Market Leader for Trade Finance” in Bangladesh as part of the 2022 Euromoney Trade Finance Survey and the 2022 Asiamoney Trade Finance Survey.
Conducted by Euromoney and Asiamoney respectively, the surveys aggregate and analyse independent client responses. Divided into quantitative and qualitative sections, each survey asks clients to comment on their use of trade finance services and nominate their top providers, reads a press release.
Providers who meet the criteria and necessary provisions of having the greatest market share globally, regionally, and locally are designated as Market Leaders. Clients are also asked to evaluate the quality of service provided by financial institutions as part of the survey.
The 2022 surveys saw responses from over 10,700 individual clients – emphasising Standard Chartered Bangladesh’s strong presence in and contribution to the trade finance space.
Chief Executive Officer of Standard Chartered Bangladesh Naser Ezaz Bijoy said: “The greatest asset of any financial institution is the trust placed in us by our clients and the communities we serve. We are humbled to be recognised as Market Leader for Trade Finance by the Euromoney and Asiamoney Trade Finance Surveys based on clients’ feedback, which is a testament to the trust earned over 117 years of uninterrupted service in Bangladesh. As one of the longest-standing partners in progress to Bangladesh, it has been our mission to be the trusted gateway to Bangladesh, starting with executing the first sovereign LC for sovereign Bangladesh and today enabling around 14% of country trade. The last two years have seen us grow and evolve to meet client and community needs – and I am excited to keep doing just that in the coming months and years.”
Managing Director, Head of Client Coverage, Corporate, Commercial and Institutional Banking of Standard Chartered Bangladesh Enamul Huque said: “Winning Market Leader for Trade Finance in both the 2022 Euromoney Trade Finance Survey and the 2022 Asiamoney Trade Finance Survey is an honour – especially because this win is based on client opinions and testimony. We are grateful to our clients for their votes of confidence and to our regulators and stakeholders for working in concert with us during these unprecedented times.”
Standard Chartered Bangladesh plays a key role in leading and shaping the trade finance space. In 2021 alone, Standard Chartered Bangladesh:
- Pioneered the first trade financing transaction using Risk-Free Rate (RFR) – to support and expedite the transition from LIBOR;
- Executed the nation’s first local Sustainable Trade Finance Transaction;
- Launched the country’s first Digital Trade Counter;
- Arranged the first-ever Green Bond in Bangladesh for Pran Agro Limited, a concern of PRAN-RFL Group;
- Arranged the first Green Zero-Coupon Bond for SAJIDA Foundation.
Euromoney is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship product of global media group Euromoney Institutional Investor PLC. Euromoney covers global banking, macroeconomics, and capital markets, including debt and equity. The magazine features comments, profiles and interviews with chief executives and senior figures in finance. Euromoney publishes the Euromoney Trade Finance Survey, a global survey, which recognizes the leading providers of trade finance products and services.
Established in 1989, Asiamoney is a financial publication focused on publishing content related to business and finance. Asiamoney provides stakeholders with relevant insights, reports, and analyses. Content published by Asiamoney typically pertains to finance and business developments in the Asia Pacific region. Asiamoney is part of the global media group Euromoney Institutional Investor PLC. Asiamoney publishes the Asiamoney Trade Finance Survey, a global survey, which recognizes the leading providers of trade finance products and services.