Trade
2 days ago

Mercantile Bank PLC executes PoC of blockchain-based Inland Green LC

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Mercantile Bank PLC has successfully participated in the Proof of Concept (PoC) for the “Green LC,” executing the bank’s first Inland LC on a locally developed blockchain-based Digital Trade platform.

This milestone marks a significant step forward in the bank’s digital transformation journey, enabling a secure, paperless, and fully digital trade ecosystem, according to a press release. 

One Bank PLC participated in the transaction as the beneficiary bank. The PoC was conducted in collaboration with Spectrum Software and Consulting Ltd. (SSCL).

The initiative is in line with Bangladesh Bank’s directive (FE Circular No. 06, dated January 14, 2025), which encourages the adoption of electronic solutions across all stages of LC processing — including transmission, advising, presentation, acceptance, and related communications.

This successful execution reaffirms Mercantile Bank PLC’s commitment to trade digitization, the release says. 

Mati Ul Hasan, Managing Director of Mercantile Bank PLC launched the PoC ceremony at the Head Office on 25 June.

Shamim Ahmed, DMD & CAMLCO, Ashim Kumar Saha, DMD & Head of ICCD, Dr. Md. Zahid Hossain, DMD & CBO and other senior officials from Mercantile Bank PLC and Farhanur Rahman, Director, Enterprise Sales from SSCL were present at the ceremony.

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