Chairman of the BIBM Executive Committee Nurun Nahar, emphasised the importance of modernising the trade finance sector with a focus on efficient compliance and risk management within the trade and trade finance ecosystem.
She shared these insights during a roundtable discussion on “Trade Ecosystem in Bangladesh to Enhance Operational Efficiency in Trade Services by Banks,” held at the Bangladesh Institute of Bank Management (BIBM) auditorium on Thursday.
“Collaboration and integration are key to ensuring efficient compliance and risk management in the trade and trade finance ecosystem,” Nahar stated. She also highlighted the crucial role of Bangladesh Bank in fostering an inclusive financial market and supporting small and medium-sized enterprises (SMEs).
The event, organized by BIBM, featured Nahar as the chief guest. Dr. Md. Akhtaruzzaman, Director General of BIBM, chaired the session, while Md. Shihab Uddin Khan, Associate Professor & Director (Research, Development & Consultancy) of BIBM, delivered the welcome address.
The roundtable discussion led to several key outcomes aimed at enhancing Bangladesh’s trade ecosystem, with a particular focus on improving the operational efficiency of trade services by banks. A key theme discussed was the need for increased collaboration and integration among stakeholders, including banks, regulators, customs authorities, and businesses. This approach would streamline processes, reduce risks, and foster a smoother trade environment.
The discussion also emphasized the importance of capacity development to navigate new technologies and systems, enabling more businesses to engage in international trade. “This collective approach will help identify risks early, ensuring smoother transactions and supporting sustainable trade growth,” Nahar noted.
The event underscored the need for continued policy and regulatory reforms to improve operational efficiency in trade services. It also highlighted the significance of digitalization in enhancing transparency and accessibility, particularly for SMEs, in the trade finance ecosystem.
