DS-Concept Factoring GmbH, the Specialist for International Trade Financing, Now Provides Forfeiting of Deferred Letters of Credit in Bangladesh
DHAKA, BANGLADESH--Marketwire - July 25, 2012 - DS-Concept http://www.ds-concept.net recently completed its first deal of advance payment for assigned L/C proceeds in Bangladesh. This new product provides Bangladeshi exporters with the chance of turning their deferred letters of credit into cash.
"In the past months more and more foreign buyers prefer to open deferred L/Cs instead of sight L/Cs when buying from Bangladesh." says René Pastor, senior executive vice president of DS-Concept Factoring GmbH. "However the exporters from Bangladesh are of course in need of liquidity and cannot wait three or four months. This is where DS-Concept steps in." This new service is offered in cooperation with Mutual Trust Bank Ltd. in Dhaka, through which the L/Cs are handled. Early this month this product was inaugurated by Anis A. Khan, managing director and chief executive officer of Mutual Trust Bank and Alexander Pinkas, managing director of the DS-Concept Liaison office in Bangladesh. Many companies now finally have the chance to accept deferred L/Cs for their exports, and DS-Concept once again shows that with its innovative services it can provide funding throughout the world.
This statement is further supported by several new clients, including a Chinese textile fabricant which exports its products to many Bengal textiles mills and for which DS-Concept will assume the L/C handling of turning their deferred L/Cs into sight L/Cs. "Bangladesh has a huge potential" says Mr Pinkas" and with our funding well help it to reach it."
DS-Concept Liaison Office Bangladesh House 20, Road 140, Gulshan 1 Dhaka 1212 Contact: Mahbubur Rahman Tel: +880 2 8834831 Fax: +880 2 8834832
DS-Concept Factoring GmbH Flughafenstr. 83 41066 Monchengladbach Contact: Johan Geduhn Phone: +49 2161 697790 Fax: +49 2161 6977979info@ds-factoring.de http://www.ds-concept.net
