IPDC, BSRM ink deal on digital supply chain platform

IPDC Finance recently signed an agreement with BSRM, the leading steel manufacturing company, to on-board on "ORJON", the first ever digital supply chain platform, powered by Blockchain technology in Bangladesh, said a statement.

The signing ceremony was organised at BSRM's Chittagong corporate office premises.

Under the arrangement, BSRM's suppliers and distributors will receive supply chain finance from IPDC against their sales transactions with BSRM. With this collaboration, IPDC has initiated a giant step towards empowering SMEs with collateral free, easy and low-cost finance with fastest processing of the credit in a more secured environment, ensured by Blockchain technology. The project is managed by Muhammad Solaiman Sarwar, Head of Strategic Initiative, IPDC Finance.

From IPDC, Mominul Islam, Managing Director and CEO; Rizwan Dawood Shams, DMD and Head of Business Finance; Abdul Mabud Tushar, Head of Supply Chain Finance; Muhammad Solaiman Sarwar, Head of Strategic Initiative and Sajjad Hossain Chowdhury, Head of Channel Management were present at the event.

Alihussain Akberali FCA, Chairman; Shekhar Ranjan Kar FCA, General Manager, Finance & Accounts and Company Secretary; Aameir Alihussain, Managing Director; Zohair Taherali, Finance Director, Mohammad Imtiaz Uddin Chowdhury, Head of Sales & Marketing; Zahed Chowdhury, Head of Sales, Dhaka and Runi Rahman, Head of Channel Development from BSRM were also present at the occasion.

Alihussain Akberali FCA, Chairman, BSRM said "With the rapidly progressing economy, it has been delightful to see the prospects. However, we cannot deny the most potential underserved segment still struggling to come under the belt. We are glad IPDC have actually created holistic supply chain ecosystem that will create financial inclusion of MSEs and encourage entrepreneurs and we are glad to be on board in inception.''

Mominul Islam, Managing Director & CEO, IPDC Finance Limited commenting on this venture said, "Orjon' is where access to finance for MSEs is faster, easier and convenient. Moreover, managing of supply chain related activities often requires significant time and effort that increases lead time. "Orjon" will assist the corporates/manufacturers in managing payable and/or receivable in an efficient manner.''