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Catherine CHANTHABOUN
Head of International Desk Asia Pacific

Support by the
Crédit Agricole group

Last updated: September 2021

The Asia-Pacific International Desk provides support, with a local frontline partner bank, to the Group’s business clients in Bangladesh to help them implement their operations on location, particularly opening accounts, financing residents and providing information on local businesses, as well as banking information and advice.

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Means of payment

With Bangladesh

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

None

None

None

Weak

None

Weak

Common

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Advice from the
international desk

General Information

In an area such as textiles Bangladesh has become a supplement or alternative for entry-level mass textile production. Bangladesh remains, alongside the other countries of South Asia, a country that is difficult to break into for a few reasons: late payments, the lack of law enforcement and controls on currency exchange.

 

Means of Payment & Banking Specificities

Despite the experience and history of local industries, it is still highly recommended to work on the basis of irrevocable documentary credit.

While in principle advance payments by importers in Bangladesh are allowed up to a maximum of USD 10,000, in practice local banks avoid this type of payment because the reporting and procedure is very cumbersome.

Documentary collections are only authorised up to a limit of USD 100,000 per business per year, and prior verification from the local bank is required.

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