HSBC, BEPZA to establish Business Development Office at National Special Economic Zone

The Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh has recently signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to establish a Business Development Office (BDO) at the National Special Economic Zone (NSEZ), Mirsarai, Chattogram.  

Through this Business Development Office, HSBC aims to provide banking solutions to both local and foreign investors operating in the zone, supporting their trade, investment, and export financing needs, said a press release. 

This initiative is part of HSBC's commitment to facilitating Bangladesh's growth as a  competitive manufacturing and export hub. 

The BDO will serve as a one-stop access point for modern banking and financial solutions tailored to the needs of both local and foreign investors in the economic zone. 

In addition to core banking, the BDO will facilitate trade finance and cash management solutions, helping investors manage cross border transactions. 

Along with the six existing BDOs located in different Export Processing Zones across the country, this new BDO will enable clients to leverage HSBC's global network and keep their international trade secured through the bank's extensive experience and trade leadership. 

Ashraful Kabir, member (Investment Promotion), BEPZA and Devesh Mathur, chief operating officer, HSBC Bangladesh signed the agreement on behalf of their respective organisations. 

Tareq Hossain, director (Investment Promotion), BEPZA, Ummay Hani Islam, deputy director  (Investment Promotion), BEPZA, Ahmad Rabiul Hasan, head of Global Trade Solutions, HSBC Bangladesh, Omar Sharif, head of Chattogram Banking, HSBC Bangladesh, Abdullah Al Mamun, head of Corporate Services, HSBC  Bangladesh, Mir Ashiqur Rahman, vice president, Corporate Services, HSBC Bangladesh; were present at the signing ceremony. 

Ashraful Kabir, member (Investment Promotion) at BEPZA, welcomed the collaboration and noted, "The establishment of HSBC's BDO will support  investors and help attract more trade and foreign investment to the zone." 

Devesh Mathur, chief operating officer, HSBC Bangladesh, said, "Our Mirsarai Business Development Office under the aegis of BEPZA is  another example of HSBC's commitment to Bangladesh - and we expect to  collaborate with global businesses, to realise the potential of this world class facility."