StanChart vows to facilitate growth in trade, investment in EPZs

Standard Chartered Bank, Bangladesh and Bangladesh Export Processing Zones Authority (BEPZA) recently jointly organised a seminar on "Trade Finance Processes for Investors" for the companies based in the Chittagong Export Processing Zone.

The seminar took place recently at the Investors Club within the Chittagong Export Processing Zone (CEPZ), said a statement.

This was the second seminar, following the one held in the Dhaka EPZ earlier this year, where the Bank teamed up with BEPZA to familiarize investors on different rules, regulations and processes involved in international trade for companies within Export Processing Zones, and thereby increase efficiencies in import and export within the zones. Around 100 participants from different companies within the CEPZ attended the seminar.

In his opening speech, Naser Ezaz Bijoy, Chief Executive Officer of Standard Chartered Bangladesh said, "Standard Chartered Bank was the pioneer in setting up the first offshore banking unit in the Export Processing Zone (EPZ) in 1993 at Dhaka EPZ. We are now present at the Adamjee, Chittagong, Karnaphuli, Comilla and Mongla EPZs as well. Our commitment remains steadfast in working in close partnership with BEPZA to support the investors in the Export Processing Zones. This seminar is aligned with our efforts to facilitate growth in trade and investment in the EPZs."

Md Khurshid Alam, General Manager of the Chittagong Export Processing Zone also gave an opening address for the audience.

Senior managers of Standard Chartered Bank held sessions on Relaxed Foreign Exchange Guidelines and Fiscal and Non-fiscal Benefits for EPZ investors; Trade Payment methods and International Commercial terms; Processes involved and documents required for Import and Export through the EPZs; and Common discrepancies in Trade Documents and how to avoid them. The Bank also distributed a booklet containing the materials of the presentations for benefit of all the participants. The participants were presented with a certificate of attendance at the end of the seminar.

Apurva Jain, Managing Director and Head of Transaction Banking, and Mr. Enamul Huque, Managing Director and Head of Commercial Banking, Standard Chartered Bank were also present at the event.