The Bangladesh Garment Buying House Association (BGBA) and United Commercial Bank (UCB) have initiated discussions on a potential partnership aimed at offering tailored banking products and services to BGBA members.
Representatives from both sides, including BGBA officials and senior executives from UCB’s large corporate banking division, held a meeting that signalled strong mutual interest in formalising cooperation. According to a statement issued by BGBA, UCB has expressed its intention to enter into a memorandum of understanding with the association to extend preferential banking facilities to its members.
The proposed partnership is expected to include a range of financial and operational benefits for garment buying houses. These include procurement and transaction support, reduced service charges across banking transactions, benefits on unused balances on ARQ cards, preferential interest rates on cards, back-to-back letter of credit support, and access to airport lounges.
BGBA said it was keen to formalise the agreement at the earliest and position UCB as a key banking partner to deliver more efficient and member-centric financial solutions to the country’s garment buying house sector.
