A comprehensive study on trade financing of Singer Bangladesh Limited
AuthorZaman, Anika Tasnim
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As Bangladesh become more open to global economy, we see a boom in trade. As soon as trade come to our mind we can only think of RMG sector, mostly because it contributes to almost 85% of all export earnings (Lomborg, 2016), sadly though even after such figures recent reports have shown a negative balance of trade in Bangladesh, which has had a huge impact on the economy. This report goes into an in depth analysis of the trade financing practices of one of the biggest Multinational Firms in the world SINGER Limited. Having the opportunity to join one of the biggest manufacturing and service providing firm SINGER, Bangladesh, it enabled me to get a glimpse of how Singer is creating new frontier in trade financing sector of Bangladesh. This report mainly discusses how Singer Bangladesh finances its trade by which is mainly import based, moreover, the report also sheds light into many different services Singer Bangladesh provides to its customers from which the proceeds goes into helping Singer to stay afloat with a high liquidity so that it can maintain a good status on the Bangladeshi marketplace. The report also goes into various minute details of the organizational structure of the organization which has helped Singer Bangladesh to attain an edge over many other multinational firms in Bangladesh. Moreover, the report also brings into light all the global practices that have been adopted in Singer Bangladesh which has led it to be one of the champions when it comes to providing tailor made customer friendly services along with products to its consumers. Lastly, the report gives a basic idea of the problems that have been plaguing further growth of Singer Bangladesh and how it can overcome these in order to stay ahead in the market in the near Future.