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Dhaka Tribune

HSBC to facilitate streamlined digital payment system for Ha-Meem Group

As part of the agreement, HSBC will facilitate a streamlined payment system for Ha-Meem, enabling the efficient handling of payments to multiple vendors through a consolidated file upload

Update : 11 Sep 2023, 05:04 PM

The Hong Kong and Shanghai Banking Corporation Limited (HSBC) has recently signed an agreement with Ha-Meem Group, one of the country’s top readymade garments (RMG) manufacturer to process their transactions through the online platform HSBCnet. 

The agreement signing took place at Ha-Meem’s corporate office in the presence of Stuart Rogers, regional head of International Markets, Commercial Banking, Asia-Pacific, HSBC; Ian Tandy, co-head of Global Trade and Receivables Finance Asia-Pacific, HSBC; AK Azad, managing director, Ha-Meem Group and officials from both of the organizations.  

As part of the agreement, HSBC will facilitate a streamlined payment system for Ha-Meem, enabling the efficient handling of payments to multiple vendors through a consolidated file upload. 

The entire process can be seamlessly managed online, enabling Ha-Meem to experience substantial time savings in payment processing and transactions without bank visits, leading to greater efficiency and reduced errors. 

The process will also help reduce paper usage for payment instructions, benefitting the environment.

In this regard, AK Azad said: “Ha-Meem aims to cross the $1 billion mark of export turnover within a short span of time and digital innovation will play a key role in this feat.” 

He appreciated HSBC’s partnership towards their digital transformation and expects to get further support that will be fit for Ha-Meem’s growth avenue.

Stuart Rogers, regional head of International Markets, Commercial Banking, Asia-Pacific said: “Digital Transformation remains a C-suite issue. At HSBC, we are committed to introducing innovative solutions to cater to the evolving needs of our esteemed customers.  We firmly believe that this partnership will prove to be mutually beneficial and we will continue to provide unwavering support to  Ha-Meem Group throughout their digital journey.”

Gerard Haughey, country head of Wholesale Banking of HSBC Bangladesh said: “In partnership with regulators and customers, HSBC Bangladesh has remained at the forefront of driving groundbreaking financial solutions, achieving notable milestones in the country. Our expertise in rolling out statutory payments such as Duty, VAT, VDS, and Digital fund pulling facilities like DDI, empowers our customers to open up a world of opportunity. Our commitment lies in ensuring smooth, smart and more secure digital banking solutions to Ha-Meem Group, by blending the power of technology with the expertise of our colleagues.”

HSBCnet is an innovative and unique online banking platform that offers a fast, simple and secure way to run businesses. 

The solution eliminates the paper-based instructions typically required to process local payments, allowing clients to authorise transactions seamlessly – including via mobile application. 

With robust security and audit trail features, HSBCnet effectively supports clients to achieve faster banking turnaround times, reduced costs and greater transparency across the payment cycle. HSBC’s platform also supports online trade processing and transactions that help its clients for further efficiency in trade operations.

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