Prime Bank becomes first Bangladeshi bank to join Singapore’s TradeTrust ecosystem

Dhaka: Prime Bank PLC has become the first Bangladeshi bank to be recognized as a TradeTrust-Ready Partner, marking a new step in the country’s shift toward paperless international trade.

TradeTrust is an open-source digital framework developed by Singapore’s Infocomm Media Development Authority (IMDA) to enable electronic trade documents to be exchanged securely across different platforms and borders.

The recognition confirms Prime Bank’s readiness to use TradeTrust-enabled electronic documents for cross-border transactions, potentially reducing reliance on physical paperwork and courier services in international trade.

A commemorative event was held recently at Prime Tower in Dhaka’s Nikunja to mark the development.

Syed Sazzad Haider Chowdhury, Deputy Managing Director and Chief Information Officer of Prime Bank, said the recognition reflects the bank’s efforts to align its trade infrastructure with international digital standards.

“This recognition proves that our trade infrastructure meets the world’s digital benchmarks,” he said, adding that electronic documentation could help traders reduce courier-related delays and costs while speeding up cross-border transactions.

Md Tanveer Bin Hasan, Head of Trade Digitalization and Innovation, also discussed the future of digital trade during the event.

Prime Bank officials Sajjad Hossain, head of Trade; Tamim Anam, head of LC Processing; and Mohammad Rafiqul Islam, export head, attended the commemorative session.

The bank said the recognition strengthens its role in digital trade and supports wider efforts to build a more integrated and technology-driven trade ecosystem in Bangladesh.