News & Events

Workshop on Factoring held at Capital Supported by Bangladesh Bank 

Written by Manager

Wednesday 11th September 2019

Press Release
#Jointly organized by FCI & BIBM 
Dhaka, 09 September, 2019:
A half day long workshop on factoring was held at the Pan Pacific Sonargaon Hotel on 09 September, 2019. Peter Mulroy, secretary General of The Factors Chain International (FCI), Netherlands delivered welcome address. Ahmed Jamal, Deputy Governor of Bangladesh Bank was present in the workshop as the chief guest. Syed Mahbubur Rahman, Chairman of Association of Bankers, Bangladesh  and  Managing Director & CEO of Dhaka Bank Limited was present in the workshop as the special guest.
A good number of participants including senior bank executives, academicians, media representatives, faculty members of BIBM took part in the workshop. FCI and Bangladesh Institute of Bank Management (BIBM)  jointly organized this workshop supported by Bangladesh Bank and sponsored by Primadollar and Tradewind GMBH.
Md. Nazimuddin, Executive Director of Bangladesh Bank and Director General of BIBM; Helal Ahmed Chowdhury, Supernumerary Professor of BIBM & Former Managing Director of Pubali Bank Limited; S. A. Chowdhury, Former Managing Director of Sonali Bank Limited; Dr. Prashanta Kumar Banerjee, Professor & Director (RD&C) of BIBM; Lee Kheng Leong, Regional Director South and South East Asia of FCI; Sohel Zali, Managing Director Bangladesh of Tradewind GMBH; Naser Bukhtear Ahmed, Non-Executive Chairman of PrimaDollar Operations Limited, Bangladesh; Vivek Sharma, Regional Trade Sales Manager of Wells Fargo Bank spoke among others at the event.
Deputy Governor said, Bangladesh Bank is always committed to provide both financial and non-financial supports to our exporters and importers. International factoring will be much beneficial for our exporters to increase their exports through offering appropriate credit terms to importers. On the other hand, this financial service will also be beneficial for our importers to import at less cost. As a result, there is substantial scope for introduction of international factoring in this country. For this, Bangladesh Bank has formed two committees, one is core committee and the other is technical committee. Both committees are currently working on it.

Bangladeshi financial service market is under dynamic transformation with many new financial products and delivery systems being experimented with. Beside expansion of banks and financial institutions and introduction of new financial services, we introduced new techniques for rendering financial services through mobile banking, agent banking and school banking he added.

Director General of BIBM said, banks and corporate houses face challenges in case of  Non L/C  based payments methods particularly open account trade. International factoring provides a simple solution of problems faced in case of Non–L/C based trade payment.  

Syed Mahbubur Rahman said, factoring companies play very significant role in financing the economic activity. Traditionally it is the SMEs that got the most benefits but now many companies use factoring for flexible finance growth.

Peter Mulroy said, FCI will organize seminar on risk related to factoring in the near future in Bangladesh. Due to the challenges regarding foreign currency funding, it’s difficult to obtain low cost funds to offer competitive reverse factoring programs to companies here in Bangladesh.

Members of the Institute

  • Bangladesh Bank
  • Sonali Bank Limited
  • Janata Bank Limited
  • Agrani Bank Limited
  • Rupali Bank Limited
  • Pubali Bank Limited
  • Uttara Bank Limited
  • Bangladesh Krishi Bank
  • Bangladesh Development Bank Limited
  • AB Bank Limited
  • National Bank Limited
  • Eastern Bank Limited
  • United Commercial Bank Limited
  • Islami Bank Bangladesh Limited
  • IFIC Bank Limited
  • Rajshahi Krishi Unnayan Bank
  • Standard Chartered Bank
  • Dutch-Bangla Bank Limited
  • Mercantile Bank Limited
  • ONE Bank Limited
  • Al-Arafah Islami Bank Limited
  • National Credit and Commerce Bank Limited
  • Trust Bank Limited
  • Southeast Bank Limited
  • Social Islami Bank Limited
  • The Hongkong and Shanghai Banking Corporation Limited
  • Standard Bank Limited
  • Export Import Bank of Bangladesh Limited
  • Mutual Trust Bank Limited
  • BASIC Bank Limited
  • Jamuna Bank Limited
  • Bank Asia Limited
  • First Security Islami Bank Limited
  • The City Bank Limited
  • Prime Bank Limited
  • Dhaka Bank Limited
  • Investment Corporation of Bangladesh
  • Bangladesh Commerce Bank Limited
  • BRAC Bank Limited
  • The Premier Bank Limited
  • Shahjalal Islami Bank Limited
  • State Bank of India
  • Habib Bank Limited
  • Commercial Bank of Ceylon PLC
  • Bank Alfalah Limited
  • Citibank, N.A.
  • National Bank of Pakistan
  • South Bangla Agriculture and Commerce  Bank Limited
  • Meghna Bank Limited
  • Woori Bank
  • NRB Commercial Bank Limited
  • Union Bank Limited
  • The Farmers Bank Limited
  • NRB Bank Limited
  • Shimanto Bank Limited
  • Bangladesh House Building Finance Corporation
  • Non Member NBFI