For the first time in Bangladesh, IPDC Finance Limited is in the process of developing an integrated digital platform, “IPDC-Orjon.”
“Orjon” is a comprehensive supply chain financing solution which will enable corporations, micro, and small enterprises (MSEs) and financial organizations in one single chain.
With “Orjon” MSEs will be able to get easy financing through factoring, reverse factoring, work order, and distributor financing. Being the first of its kind, “Orjon” aims to create a holistic supply chain financing eco-system in Bangladesh.
IPDC Finance Limited has signed a Business Finance for the Poor in Bangladesh (BFP-B) grant contract with Nathan Associates London Limited – an authorized agent of the Department for International Development (DFID) - for the development of a Digital Supply Chain Finance Platform powered by Blockchain technology. This signing ceremony took place at the Westin Hotel on Tuesday.
At the signing ceremony, Mominul Islam, managing director and CEO, IPDC Finance Limited, said: “We at IPDC always try to facilitate and support micro and small enterprises (MSEs) of Bangladesh. We have developed the digital supply chain finance platform for MSEs, “Orjon,” for people on the supplier and distribution end. In five years “Orjon” will facilitate more than 25,000 MSEs with easy and collateral free financing services, and provide corporations with better supply chain management.
“Hopefully this initiative will help to develop a dynamic business environment, expand the market with better financial growth, and create employment opportunities for at least 200,000 people.”
Buddhika Samarasinghe, director Nathan Associates London Ltd, said: “We hope this initiative will create a great advantage for the MSEs & provide the support of a modern supply chain soluble platform for a faster growth of MSEs in Bangladesh. We are very glad that IPDC has given us this opportunity to aid them in this enterprise.”
Mominul Islam, Managing director and CEO of IPDC Finance Limited, Buddhika Samarasinghe, director Nathan Associates London Ltd, Feisal Hussain, team leader, Business Finance for the Poor in Bangladesh (BFP-B), Md Arafat Hussain, Challenge Fund manager BFP-B, Naquib Khan, director of Corporate Affairs of Nestle Bangladesh Limited and president of Bangladesh Supply Chain Management Society, Zakir Hossain, head of Central Operations, IPDC Finance, Aleya R Ikbal, Head of IT and Business Transformation, IPDC Finance, and other high officials were present at the signing ceremony.