A syndicated financing agreement was signed between Dhaka Bank Limited & The City Bank Limited and Denimach Washing Limited & Denimach Limited on December 14, 2006 at the Board Room of Dhaka Bank Limited. Dhaka Bank Limited is the Lead Bank and Agent Bank for this syndicated financing while The City Bank Limited is participating Bank. Under the agreement, Dhaka Bank and The City Bank will extend Tk 950 Million multi-credit facilities including Tk 580 million term loan facility to Denimach Washing Limited & Denimach Limited for setting up a 100% export oriented Denim Garment Manufacturing Unit and Washing Plant.

Mr. Shahed Noman, Managing Director, Dhaka Bank Limited, Mr. Delower H. Chowdhury, Acting Managing Director, The City Bank Limited and Mr. Zakaria Taher, Managing Director, Denimach Washing Limited & Denimach Limited signed the agreement on their behalf.

Among others Mr. Khondker Fazle Rashid, Deputy Managing Director, Mr. Mohammad Abu Musa, Deputy Managing Director, Mr. Alauddin Al Azad, Executive Vice President and Head of Credit Division, Mr. Emranul Huq, Senior Vice President and Manager, Gulshan Branch from Dhaka Bank Limited, Mr. Sa’ad Zaglul Abbas, Executive Vice President and Head of Credit Division from The City Bank Limited were also present on the occasion.