Access to affordable foreign currency financing has become increasingly important for sustaining international trade, industrial production, and investment amid Bangladesh’s challenging economic environment, said Mahbubur Rahman, president of ICC Bangladesh.
He made the observation while delivering his closing remarks at a workshop titled “Obtaining Import Financing in Foreign Currency – Challenges and Solutions”, jointly organised by ICC Bangladesh, and Germany’s ODDO BHF SE at the Renaissance Hotel on October 31.
Rahman said Bangladesh was facing inflationary pressures, foreign exchange constraints, subdued private sector investment, and global trade uncertainties. Bangladesh Bank’s tight monetary policy, aimed at containing inflation, had also contributed to slower private sector credit growth.
Highlighting innovative financing instruments, he said Usance Payable at Sight (UPAS) Letters of Credit allow importers extended payment terms while ensuring timely payments to overseas suppliers. Export Credit Agency (ECA)-backed financing provides longer-term funding for importing capital machinery, advanced technology, and industrial equipment at competitive costs.
He said these instruments could support industrial modernisation, infrastructure development, renewable energy expansion, and export diversification.
Referring to Bangladesh’s transition from Least Developed Country (LDC) status, Rahman stressed the need to strengthen economic resilience, export competitiveness, financial sector reforms, and international financing capabilities. He also emphasised sound risk management, regulatory compliance, and closer cooperation among banks, regulators, and international financial institutions.
He noted that Germany remained a major trading and development partner of Bangladesh, offering opportunities for cooperation in trade finance, technology transfer, and industrial investment.
Rahman reiterated ICC Bangladesh’s commitment to professional capacity-building through workshops and internationally recognised certification programmes offered by the ICC Academy and Walbrook Institute London, formerly The London Institute of Banking & Finance (LIBF).
Muhammad A (Rumee) Ali, chairman of the ICC Bangladesh Banking Commission, said bankers must exercise greater caution in selecting clients and ensuring proper due diligence and risk assessment.
Thomas Kuerten, director and senior regional manager of international and corporate banking at ODDO BHF SE, and Ataur Rahman, secretary general of ICC Bangladesh, also spoke.
The workshop was conducted by Karim Dolibois and Uschi Kirchner of ODDO BHF SE, focusing on UPAS Letters of Credit, ECA-backed financing, documentation, and risk management. It was attended by 77 participants, including three representatives from KfW and one from the International Finance Corporation.
ICC Bangladesh organised a similar workshop yesterday, at Hotel The Peninsula Chittagong in Chattogram, with 35 bankers from 17 banks and 12 corporate clients sponsored by Eastern Bank.
Rahman thanked ODDO BHF SE for sponsoring both workshops and Eastern Bank for its support, expressing hope that the programmes would strengthen Bangladesh’s international trade financing capabilities.
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