Prime Bank has signed a Master Murabaha agreement with International Islamic Trade Finance Corporation (ITFC), a member organization of Islamic Development Bank (IsDB), a press release said Monday. Under this agreement, ITFC will provide trade facility against letter of credit issued by the bank. This is a 3-year facility extended to the bank, following a previous 1 year trade facility from ITFC. Prime Bank’s MD and CEO, Hassan O. Rashid, and ITFC’s COO, Nazeem Noordali, signed the agreement on behalf of their respective organizations. ITFC’s general manager of trade finance, Abdihamid Aweis Abu, and Prime Bank’s AMD, Faisal Rahman, DMD, transaction banking financial institutions and debt capital market, Shams A Muhaimin, were also present.
