HSBC sign supply chain solution agreement with Nestlé

The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Nestlé in Bangladesh signed an agreement to offer “Buyer Approved Invoice Finance” (BAIF) for Nestlé’s suppliers on Monday. This is a new supply chain financing proposition that provides more efficient and cost-effective working capital solution for buyers and their suppliers. This innovative proposition, a first by HSBC in Bangladesh, provides suppliers with access to more competitive financing. This solution also enhances visibility across the entire supply chain, which simplifies the management of trade payables and, in turn, helps to improve supply chain efficiency and agility. HSBC Bangladesh was mandated to operate the supplier financing program for Nestlé Bangladesh Limited (Nestlé). Stéphane Nordé, Managing Director, Nestlé Bangladesh and Francois de Maricourt, Chief Executive Officer, HSBC Bangladesh signed an agreement on behalf of their respective organisations.