Bangladesh Garment Buying House Association (BGBA) has taken a step towards strengthening financial support for its members by initiating discussions with United Commercial Bank (UCB) on a potential strategic banking partnership.
According to a statement issued by BGBA, representatives of the association recently held a meeting with senior executives from UCB’s Large Corporate Banking Division, during which both sides expressed strong interest in formalising cooperation through a memorandum of understanding (MoU). The proposed collaboration aims to introduce tailored banking products and preferential services for BGBA member companies.
Under the planned partnership, garment buying houses are expected to benefit from a range of financial and operational facilities. These include enhanced procurement and transaction support, reduced service charges on banking transactions, incentives on unused balances on ARQ cards, preferential interest rates on card services, back-to-back letter of credit (LC) facilities, and access to airport lounges.
BGBA officials said the association is keen to finalise the agreement at the earliest possible time, positioning UCB as a key banking partner for the garment buying house sector. The initiative is aimed at improving financial efficiency, easing operational challenges and delivering more member-centric banking solutions to support the growing role of buying houses in Bangladesh’s apparel supply chain.
