100 participants learned from experienced factoring professionals in Dhaka, BangladeshWednesday 11 September 2019
FCI together with Bangladesh Institute of Bank Management organized a workshop on factoring on 9 September 2019 in Dhaka, Bangladesh.
The event was graced by the Deputy Governor of Bank of Bangladesh, Mr. Ahmed Jamal. Mr. Jamal spoke on the drafting of the factoring policy which will be issued soon. The policy is currently is at its final stage. FCI, through Peter Mulroy, Secretary General, helped in the drafting of the said policy.
The event was well attended by 100 participants mainly from banks. Many of them are eagerly waiting for the factoring policy to be issued so that they can establish International Factoring.
This timely workshop was introduced by Peter Mulroy, FCI Secretary General. Mulroy gave an introduction on FCI , the role of FCI international factoring, FCIreverse and Islamic factoring. As Bangladesh is an Islamic country, the banks are keen on learning how Islamic factoring works. This will help to work with other Islamic countries on Islamic factoring.
Kheng Leong Lee, FCI Regional Director, gave a presentation on the fundamentals of both domestic and international factoring.
The workshop was sponsored by FCImembers Prima Dollar and Tradewind Finance. Together with Wells Fargo, they gave insightful presentations on how export factoring can help Bangladeshi exporters to compete with the other Asian exporters by exporting on open account through international factoring.
The participation by FCI’s experienced members who shared their experiences and how to help emerging countries to go into international factoring demonstrated the strength of the FCI network.
The workshop has left a very good impression amongst the participants and many have indicated their willingness either to join FCI or to learn more about factoring through the FCI academy.