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Mutual Trust Bank Limited (MTB) has recently extended USD 8.0 Million from its Off-shore Banking Unit to Envoy Textiles Ltd. (ETL). The financing will create a long-term financing source for the manufacturing concern in foreign currency, contribute to job creation and economic growth.
Located in Bhaluka, Mymensingh, 60 kilometers north from the capital, Envoy Textiles Ltd. is a 100% export-oriented denim fabric manufacturer. It is the first denim project in Bangladesh with rope-dye technology. The company received the US Green Building Council’s ‘LEED Platinum’ certification. ETL strives for sustainable and accountable business practices in Bangladesh and is establishing a definitive business model that will benefit its customers.
Kutubuddin Ahmed, Chairman, Envoy Group, Tanvir Ahmed, Director, Envoy Group, Tushar Tripathi, Chief Executive Officer, Saiful Islam, Chief Financial Officer of Envoy Textiles Ltd. and Syed Rafiqul Haq, Deputy Managing Director & Chief Business Officer, Tarek Reaz Khan, Head of SME & Retail Banking, Md. Zahidul Kabir, Manager, Panthapath Branch, Mohammad Anwar Hossain, Head of Cards & ADC, Azam Khan, Group Chief Communications Officer, Md. Ehethesham Rahman, Head of Syndication & Structured Finance Unit, A.T.M. Nesarul Hoque, VP, MTB Financial Institution Services (MFIS) of Mutual Trust Bank Limited along with other senior officials from both the organizations were present at the closing ceremony, held at the Company’s Corporate Head Office, Envoy Tower, Panthapath, Dhaka 1205.