The first meeting of the newly formed Consultative Committee for Development of Factoring in Bangladesh has taken place in Bangladesh Bank head office

yesterday.

Representatives from Bangladesh Bank, Ministry of Finance, SouthAsia Enterprise Development Facility (SEDF), DCCI and various banks and non-bank financial institutions were present.

The Committee discussed the current state of factoring business in the country and future roadmaps for its growth. It includes development of operational guides for financial institutions and organisation of training programmes.

The session was chaired by Murshid Kuli Khan, Executive Director of Bangladesh Bank. Khan applauded SEDF for playing a key role in development of factoring in Bangladesh and also for appointing two consultants to assist the Consultative Committee.

Gilles J Galludec, the Program Manager of SEDF, reiterated SEDF's support for innovation and development of new financial products for SME finance and mentioned that SEDF could provide technical assistance in future to selected financial institutions to implement the factoring tool as a profitable business.

Among other senior officials present were Sudhir Chandra Das, General Manager, Bangladesh Bank, Masud Nizami, Financial Markets Specialist, SEDF and Shahidul Islam, Business Development Officer, SEDF.