HSBC, Bepza to set up business development office at NSEZ

The Hongkong and Shanghai Banking Corporation (HSBC) Bangladesh has 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) in Mirsarai, Chattogram.

The office will provide banking solutions for both local and foreign investors operating in the zone, supporting trade, investment, and export financing needs. HSBC said the initiative reflects its continued commitment to facilitating Bangladesh's growth as a competitive manufacturing and export hub, according to a press release.

Designed as a one-stop access point, the BDO will offer banking and financial solutions tailored to the needs of investors in the zone. In addition to core banking services, it will provide trade finance and cash management facilities to help businesses manage cross-border transactions.

With the new NSEZ facility, HSBC will operate seven BDOs across Bangladesh's export processing zones, enabling clients to access its global network and trade expertise.

Md Ashraful Kabir, member (investment promotion) at Bepza, and Devesh Mathur, chief operating officer of HSBC Bangladesh, signed the agreement on behalf of their organisations. Senior officials from both sides, including Ahmad Rabiul Hasan, head of global trade solutions at HSBC Bangladesh, and Omar Sharif, head of Chattogram banking, were also present.

Welcoming the initiative, Kabir said, "The establishment of HSBC's BDO will support investors and help attract more trade and foreign investment to the zone."

Mathur noted, "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."

"Exports continue to play a pivotal role in advancing Bangladesh's economy," added Hasan. "We are pleased to broaden our footprint at NSEZ and support global exporters and manufacturers with trade financing solutions such as receivables finance and supply chain finance."