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Bangladesh: BGMEA appeals to banking sector
- provide necessary finance to face post MFA challenges |
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2004-11-30
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Banks and financial institutions of the country have been appealed to provide necessary financial support in order to meet the challenges emanating from the expiry of textile quotas, Bangladesh Garments Manufacturers and Exporters Association (BGMEA) said in a release.
The appeal was made when a BGMEA team led by its President Annisul Huq held talks with the high-ups of the Prime Bank Limited, said a press release.
During a meeting attended by the representatives of BGMEA and banking sector, the leaders of the apex body of garment exporters urged the banks to provide loans generous and easy terms at this critical juncture.
The hope that Bangladesh would enjoy competitive advantages in certain textile sectors emboldened the exporters body to seek support of the financial support.
BGMEA also urged the government to simplify import - export procedures in line with the international trading.
The Prime Bank was represented by its Chairman Azam J Chowdhury, Vice Chairman Imam Anwar Hossain, other directors, Managing Director M. Shahjahan Bhuiyan, Deputy Managing Directors Nasiruddin Ahmed, Mahbubul Alam, Kazi Masihur Rahman and other senior executives.
Meanwhile, BGMEA Vice Presidents Anwar-ul Islam Chowdhury and Ghulam Faruque and Second Vice President Alamgir M Z Rahman accompanied their chief.
The Chairman of Prime Bank assured the garments exporters of continued support. However, he added that under the changed situation, bankers must have a better understanding of the risks and potential rewards of garments sector so as to manage its portfolio in a prudent manner. |
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