Dhaka:Affordable foreign currency financing has become increasingly crucial for sustaining Bangladesh's international trade, industrial production, and investment in the face of mounting economic challenges, according to ICC Bangladesh President Mahbubur Rahman. He emphasized this point during his closing speech at a workshop titled 'Obtaining Import Financing in Foreign Currency - Challenges and Solutions,' jointly organized by the International Chamber of Commerce (ICC) Bangladesh and Germany-based ODDO BHF SE at the Renaissance Hotel.
According to Bangladesh Sangbad Sangstha, Mahbubur Rahman highlighted the inflationary pressures, foreign exchange constraints, subdued private sector investment, and uncertainties in global trade that Bangladesh is currently facing. The Bangladesh Bank's tight monetary policy aimed at containing inflation has also led to slower private sector credit growth.
To address these challenges, Rahman underscored the need for innovative trade financing instruments. He mentioned that Usance Payable at Sight (UPAS) Letters of Credit allow importers to enjoy extended payment periods while ensuring timely payments to overseas suppliers. Additionally, Export Credit Agency (ECA)-backed financing can offer longer-term funding at competitive costs for importing capital machinery, advanced technology, and industrial equipment, which could significantly contribute to industrial modernization and export diversification.
Rahman also referred to Bangladesh's upcoming graduation from the Least Developed Country (LDC) category, stressing the need to strengthen economic resilience, export competitiveness, financial sector reforms, and international financing capabilities. He emphasized the importance of sound risk management, regulatory compliance, and stronger cooperation among banks, regulators, and international financial institutions.
Regarding bilateral economic relations, Rahman noted that Germany remains a major trading and development partner of Bangladesh. He reiterated ICC Bangladesh's commitment to professional capacity-building through workshops and internationally recognized certification programs offered by the ICC Academy and Walbrook Institute London.
During the closing ceremony, Muhammad A. (Rumee) Ali, Chairman of the ICC Bangladesh Banking Commission, spoke on the growing challenges bankers face, highlighting the need for greater caution in client selection, due diligence, and risk assessment. Other speakers included Thomas Kuerten, Director and Senior Regional Manager of International and Corporate Banking at ODDO BHF SE, and Ataur Rahman, Secretary General of ICC Bangladesh.
The workshop in Dhaka was attended by 77 participants, including representatives from KfW and the International Finance Corporation (IFC). ICC Bangladesh is organizing a similar workshop at Hotel The Peninsula Chittagong, with participation from bankers and corporate clients sponsored by Eastern Bank. Mahbubur Rahman expressed gratitude to ODDO BHF SE for sponsoring both workshops and appreciated Eastern Bank's support, hoping the programs would strengthen Bangladesh's international trade financing capabilities.