The Financial Express

Credit rating companies to let Bangladeshi firms access foreign loans

| Updated: June 19, 2020 09:26:20

Credit rating companies to let Bangladeshi firms access foreign loans

Two Hong Kong based credit rating companies have begun working in Bangladesh from Tuesday to provide assistance to banks, financial institutions and business houses for getting credit from abroad.

Interlinkages Online and Creditsafe announced their strategic collaboration for providing Global Counterparty Credit Reports to Financial Institutions in Bangladesh, reports UNB citing a press release.

Cato Syverson, CEO at Creditsafe said, “Creditsafe is very excited to announce a strategic collaboration with Interlinkages to expand our global presence to Bangladesh and bring our industry leading Business Credit Reports to the Banks in the country. Interlinkages has expertise in the Financial Institutions and Trade Finance domain with understanding of banking ecosystems and an online delivery mechanism for wider distributions of our solutions to banks and bank branches in Bangladesh.”

Anindita Ghosh, CEO at Interlinkages said, “It has been our endeavour to bring the best of global participants to our ecosystem in International Trade and Banking especially in today’s age where speedy data updates, cost effectiveness and timely access to credit reports play a critical role in ever evolving trade landscape of South Asia.”

On the collaboration, Anindita added, “in Creditsafe, we have found a truly global, market-leading credit insight partner with a wealth of industry expertise and know-how. This collaboration will change the way Banks in Bangladesh access credit data as it would not only be real time but also cost effective.“

Interlinkages Online is a Hong Kong-based, Cross-Border Trade Finance marketplace that serves Corporate and Banks across the world. It offers Banks borderless solutions for deal origination and distribution in international markets and enables access to previously inaccessible counterparties globally. Interlinkages is supported by Cyberport, a digital component of Hong Kong Government and is approved by BIDA in Bangladesh.

Creditsafe is the world’s most used provider of online business credit reports. With credit information on over 365 million reports across the globe, Creditsafe delivers the most accurate and up-to-date information available in an easy-to-use format for businesses of all sizes.

Creditsafe has the biggest wholly owned database in the industry, providing accurate and reliable data to over 120,000 subscribers across the globe.

Share if you like