TK Group of Industries will use Standard Chartered's online foreign exchange trading platform to carry out cross-border transactions, as per a deal signed yesterday.
The agreement makes TK Group the first Bangladeshi company to adopt the platform known as Straight2Bank Exchange (S2BX). With this, the bank also opened up the online forex trading platform for corporate clients in Bangladesh.
S2BX offers exceptional speed of execution and broad currency coverage as well as transaction history and accessibility to the foreign exchange market, said the bank in a statement.
It said S2BX has widely been adopted by authorised dealers in the local interbank foreign exchange market.
Naser Ezaz Bijoy, head of global banking of Standard Chartered Bangladesh, reiterated the bank's commitment to lead the way in providing modern digital solutions and thanked TK Group for partnering with the bank in the initiative.
Mahfuzur Rahman, a director of TK Group, appreciated the bank's continued efforts in bringing innovative solutions to its clients.
Alamgir Morshed, head of financial markets of Standard Chartered Bangla-desh, and Akhter Kamal, general manager of TK Group, were also present.