Prime Bank joins global paperless trade network

Prime Bank PLC has become the first Bangladeshi bank to join Singapore’s TradeTrust ecosystem, opening the way for wider use of electronic trade documents in cross-border transactions.
TradeTrust, developed by Singapore’s Infocomm Media Development Authority (IMDA), enables trusted and interoperable exchange of electronic trade documents across different systems and borders, according to a press release. The bank was recognised as a TradeTrust-Ready Partner, indicating its readiness to use TradeTrust-enabled documents for digital trade.
A commemorative session was held recently at Prime Tower in Nikunja to mark the recognition. Syed Sazzad Haider Chowdhury, deputy managing director and chief information officer of Prime Bank, said the initiative would help reduce courier-related delays and costs in cross-border trade.
Md Tanveer Bin Hasan, head of trade digitalisation and innovation, also spoke at the event. Senior officials of the bank were present.