Bankers assure RMG of credit support
Tuesday, 25 November 2008
FE Report
Chairmen and chief executive officers of the country's commercial banks Monday assured the readymade garment (RMG) exporters of continuing credit support.
The assurance came at a meeting between the bankers and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Moderated by the BGMEA President Anwar-Ul-Alam Chowdhury Parvez, the meeting was attended by chairmen and top executives of almost all the country's commercial banks.
The BGMEA sat with high ups of commercial banks following a recent advise from the Bangladesh Bank (BB) that commercial banks should be cautious about opening of letters of credit (LCs) by the apparel operators.
"Everywhere, there remains some uncertainty because of the global financial crisis… but I am not so worried about that," renowned industrialist and former chairman of Mutual Thrust Bank Syed Manzur Elahi told the meeting.
He also stressed the need for enhancing the bank-client relations to help cope with the global financial crisis.
Echoing the same sentiment, Managing director of Eastern Bank Iftekhar Ahmed Chowdhury said, "I don't see any impact of the financial meltdown on the appeal exports."
Some of the bankers, however, said although some orders have been deferred by the foreign buyers due to the financial meltdown, the situation will improve in the coming days.
Chairmen and chief executive officers of the country's commercial banks Monday assured the readymade garment (RMG) exporters of continuing credit support.
The assurance came at a meeting between the bankers and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Moderated by the BGMEA President Anwar-Ul-Alam Chowdhury Parvez, the meeting was attended by chairmen and top executives of almost all the country's commercial banks.
The BGMEA sat with high ups of commercial banks following a recent advise from the Bangladesh Bank (BB) that commercial banks should be cautious about opening of letters of credit (LCs) by the apparel operators.
"Everywhere, there remains some uncertainty because of the global financial crisis… but I am not so worried about that," renowned industrialist and former chairman of Mutual Thrust Bank Syed Manzur Elahi told the meeting.
He also stressed the need for enhancing the bank-client relations to help cope with the global financial crisis.
Echoing the same sentiment, Managing director of Eastern Bank Iftekhar Ahmed Chowdhury said, "I don't see any impact of the financial meltdown on the appeal exports."
Some of the bankers, however, said although some orders have been deferred by the foreign buyers due to the financial meltdown, the situation will improve in the coming days.