BLFCA holds 10th AGM
Monday, 8 December 2008
FE Report
The tenth Annual General Meeting (AGM) of the Bangladesh Leasing and Finance Companies Association (BLFCA) was held at a local hotel in the city recently. MDs /CEOs and senior officials of financial institutions were present at the AGM.
In his annual report, Anis A. Khan, Chairman of BLFCA gave an overview of the financial sector and activities of the association. He said that FIs represent a vital segment of the financial system and play a significant role in mobilizing and channeling resources. In Bangladesh, there are 29 FIs, which include investment and finance companies, leasing companies, home finance companies, etc.
The AGM was told that with the challenges of time, the overall growth of the leasing business achieved through diversification of products and services and aggressive marketing with main focus on the SME sector, is indicative of the industry's contribution to the national economy.
Mafizuddin Sarker, Vice Chairman, BLFCA delivered the vote of thanks.
It is noteworthy that, within two decades, the FIs have emerged as an alternative source of finance and well-sought after arm for credit for SMEs. In order to meet the demands of time, most FIs have diversified their products and services into other areas like small loans, housing loans, start-up working capital and domestic factoring of accounts receivable.
The tenth Annual General Meeting (AGM) of the Bangladesh Leasing and Finance Companies Association (BLFCA) was held at a local hotel in the city recently. MDs /CEOs and senior officials of financial institutions were present at the AGM.
In his annual report, Anis A. Khan, Chairman of BLFCA gave an overview of the financial sector and activities of the association. He said that FIs represent a vital segment of the financial system and play a significant role in mobilizing and channeling resources. In Bangladesh, there are 29 FIs, which include investment and finance companies, leasing companies, home finance companies, etc.
The AGM was told that with the challenges of time, the overall growth of the leasing business achieved through diversification of products and services and aggressive marketing with main focus on the SME sector, is indicative of the industry's contribution to the national economy.
Mafizuddin Sarker, Vice Chairman, BLFCA delivered the vote of thanks.
It is noteworthy that, within two decades, the FIs have emerged as an alternative source of finance and well-sought after arm for credit for SMEs. In order to meet the demands of time, most FIs have diversified their products and services into other areas like small loans, housing loans, start-up working capital and domestic factoring of accounts receivable.