Prime Bank & Dhaka Bank execute blockchain-based inland LC on local platform
Staff Correspondent
Prime Bank PLC and Dhaka Bank PLC have successfully completed the Proof of Concept (POC) for Green LC, executing Bangladesh’s first Inland LC on a locally developed blockchain platform. This milestone marks a major leap forward in trade digitization.
This initiative follows Bangladesh Bank’s directive (FE Circular 06, issued on 14 January 2025), which encourages financial institutions to adopt electronic solutions for LC transactions-covering transmission, advising, presentation, acceptance, and all subsequent processes.
The Green LC initiative is the result of extensive collaboration among several leading banks that formed a consortium to drive this transformation. Their joint efforts have paved the way for a secure, transparent, and efficient digital trade ecosystem. At this moment of celebration, we extend our sincere gratitude to all partner banks for their dedication and commitment to innovation.
The POC was conducted in partnership with SSCL, the technology provider, ensuring a seamless, secure, and efficient digital trade environment.
This milestone reinforces Prime Bank PLC’s commitment to digital innovation, setting the stage for a future where trade operations are fully digital, paperless, and seamless.
