• Eastern Bank PLC (EBL) arranged the facility and serves as the Security Agent and Account Bank for the transaction.
• The financing will fund the acquisition of MT Samuda, a 22,000 MT edible oil tanker, that will support crude palm oil imports for TK-Samuda Group’s edible oil refineries.
• This marks ICD’s first transaction with TK-Samuda Group.

The Islamic Corporation for the Development of the private sector (ICD) (www.ICD-PS.org) and Samuda Shipping Limited (SSL) signed a USD 10 million Shariah-compliant term finance agreement in Dhaka, Bangladesh, to finance the acquisition of a vessel for the transportation of crude edible oil. Eastern Bank PLC arranged the facility and is acting as the Security Agent and Account Bank, bringing together ICD’s multilateral development finance expertise and EBL’s deep knowledge of the Bangladesh market to deliver a structured, Shariah-compliant solution for the private sector.

The closing ceremony, held under the title “Closing Ceremony for Financing a Vessel for TK-Samuda Group,” commemorated the formal conclusion of the transaction and brought together senior representatives from ICD, Eastern Bank PLC, and TK-Samuda Group. Samuda Shipping Limited is a concern of TK-Samuda Group, one of the largest conglomerates in Bangladesh, and this transaction represents ICD’s first engagement with the group. The seven-year financing structure reflects ICD’s commitment to supporting long-term, asset-backed private sector development in its member countries in a manner consistent with Shariah principles.

The financed vessel, named MT Samuda, is a 22,000 MT edible oil tanker that will enable TK-Samuda Group to import crude palm oil from international markets for processing at its domestic edible oil refineries. By strengthening the group’s supply chain infrastructure, the transaction is expected to contribute meaningfully to food security and agro-industrial capacity in Bangladesh. This transaction also builds on ICD’s existing relationship with Eastern Bank PLC to further cementing a productive and growing partnership between the two institutions in support of Bangladesh’s private sector.

An office builds culture by default. People run into each other in the corridor. They hear about a colleague’s win over coffee. They notice when someone is having a hard week. Most of it happens without anyone planning it.

At APO Group, we build ours on purpose.

We are fully remote by choice. It’s how our people live in the markets they serve. Our teams are based in 17 countries across Africa, Europe, the Middle East, and Asia. Between them, they hold 52 nationalities and speak 33 languages. No single office could bring those people together.

That means we must be deliberate about what people need from each other to collaborate when they aren’t sharing the same physical space: connection, context, and trust.

Connection: making the work visible

Connection is the easiest to underestimate. One way of connecting is through our monthly town hall, where wins are celebrated, colleagues and their work are profiled, and departments can showcase their work. An operations manager in Kenya will hear what a strategist in Portugal has been working on, and why it matters to the business. In a remote organisation, you can work with someone for years and still know very little about their working day. Making that work visible helps people understand what happens elsewhere.

That internal connection has a direct impact on how clients experience us. A brief sent from Casablanca often needs an answer from someone in Cape Town the same afternoon. How fast that happens depends less on process than on whether those two people already understand each other’s work. Clients judge a distributed team on whether it behaves like one team.

Context: how the business is doing

Every employee works better when they can see how the business is doing. We share company performance and client wins at the same town hall, so people can place their own work inside it. Our quarterly magazine, Connect, carries that further into the detail: how different departments work, what tools they use, and what they’ve learnt.

Trust: feedback with a consequence

Trust is built through consistency about what we share and what we do with it. We discuss performance monthly, with results and behaviour both part of the conversation. Twice a year we ask colleagues what it’s like to work here, and act on what we hear, so feedback has a visible consequence. Our current employee Net Promoter Score is +54.

Recognising the culture

Teams need people the culture can be recognised in. Tracy Walakira, an Account Director, is also our Cultural Ambassador. Her role is to keep our culture, and values present in how we work, from welcoming new joiners during onboarding to helping colleagues stay connected across countries and teams.

Why our intranet is called Frank

For 12 years, François Mognard, known to everyone as Frank, ran finance and operations as APO Group grew from a start-up into a pan-African consultancy. He became the person people went to when they needed an answer about how something worked, why it worked that way, or who to speak to when it didn’t.

He made complicated things simple without cutting corners, adapted as the business changed, and listened before he spoke.

Frank has moved on to pursue new opportunities, but we named our intranet after him. People go there for answers, and it carries the name of the person who used to give them. It’s a small illustration of how culture can outlast any one person if you build it into how the organisation works.

Every colleague has a growth path we invest in through training and mentoring. Each new joiner starts in the same onboarding academy and meets our five values on day one. The aim is an environment where more people have the knowledge, support, and confidence to become the colleague others rely on.

Every organisation already has the colleagues others turn to when they need help, who share what they know, who notice when someone has been left out.

The question is whether you recognise them, and whether you’re creating the conditions for more to grow into that role.