BB contemplating to adopt factoring and forfaiting
Bangladesh Bank has formed a committee to formulate rules and regulations for exploring the potentials of launching of factoring and forfaiting in Bangladesh, says a press release quoting Mamun Rashid, chairman of ICC Bangladesh Standing Committee on Banking Technique and Practices, as saying. These new products are widely used and accepted in most of the countries around the globe, he added. Mamun Rashid was addressing the concluding session of the two-day ICC (International Chamber of Commerce) workshop on 'Factoring & Forfaiting: New Methods for International Trade Finance' in Dhaka on Tuesday. For fostering international trade and investment in the emerging countries like Bangladesh, he emphasised the need for capacity building of the professionals to adopt all new trade tools. Rashid, who is also the country officer of the Citibank, NA, Bangladesh, mentioned that it is vital that professionals are well-trained to provide quality services and posses good product knowledge on newly introduced international trade finance method. Pavel Andrle, a trade finance consultant from Europe, conducted the workshop. He expressed satisfaction over the fact that BB is actively considering adoption of these new tools. Ataur Rahman, secretary, ICC-B, also spoke on the occasion.
| 
