DS-Concept sells factoring facility to RMG maker in B'desh

The company will provide financing on open account and discounting of deferred L/Cs to the Bangladeshi garment manufacturer, who is fast expanding in the European and the US markets. A factored volume of $25 million is expected to come in because of this facility in 2016 at the client's business unit.

Commenting on the sale, a representative from DS-Concept Bangladesh office said, “Bringing on our most recent Bangladesh-based export client confirms a trend we have seen in 2015 – many Bangladeshi SMEs have limited financing options available. The post-shipment bill discount facilities remain too small, restrictive and slow.”

With its headquarters in Germany, the DS-Concept Group maintains a network of offices and affiliates all over the world, including the US, Bulgaria, Hungary, Turkey, Pakistan, Bangladesh, Spain, the UK, China and UAE. (MCJ)

Fibre2Fashion News Desk – India