Dhaka International Trade Fair 2024 Opens Wednesday

The Dhaka International Trade Fair (DITF) transcends the typical trade show experience; it’s a dynamic confluence of commerce, culture, and innovation, a vibrant microcosm of Bangladesh’s economic aspirations. Held annually at the sprawling Bangladesh-China Friendship Exhibition Center in Purbachal, a strategically planned satellite city near Dhaka, this month-long extravaganza has firmly established itself as the largest trade fair in South Asia, drawing millions of visitors from across the globe.

The DITF serves as a crucial platform where established multinational corporations, thriving small and medium-sized enterprises (SMEs), and ambitious budding entrepreneurs converge to showcase their diverse products and services, forge valuable strategic partnerships, explore burgeoning market opportunities, and contribute significantly to Bangladesh’s rapidly growing economy.

A Rich Tapestry of Trade

The history of the Dhaka International Trade Fair is inextricably linked to Bangladesh’s journey of economic development. Established with the fundamental objectives of promoting domestic industries on a global stage and fostering robust international trade relations, the fair has evolved into a powerful catalyst for economic growth and diversification. It provides an unparalleled opportunity for local businesses, particularly SMEs, which form the backbone of the Bangladeshi economy, to gain invaluable exposure to international markets, attract crucial foreign investment, facilitate vital technology transfer, and cultivate essential cross-border collaborations.

The sheer scale and scope of the DITF are truly impressive, encompassing hundreds of meticulously designed stalls and elaborate pavilions representing a diverse spectrum of sectors. From the traditional strength of textiles and garments, which have long been a cornerstone of Bangladesh’s export economy, to the burgeoning sectors of electronics, information technology (IT) solutions, exquisite handicrafts, diverse agricultural products, innovative processed foods, and a wide array of other goods and services, the DITF offers a comprehensive overview of Bangladesh’s economic landscape.

The Significance of Purbachal as the DITF Venue

The strategic selection of Purbachal as the permanent venue for the DITF holds significant weight. This meticulously planned township, conceived to alleviate the persistent congestion in Dhaka, represents Bangladesh’s forward-thinking vision for modern urban development and sustainable economic growth. The state-of-the-art Bangladesh-China Friendship Exhibition Center, with its expansive exhibition halls, modern infrastructure, and world-class facilities, provides ample space and an ideal environment to accommodate the massive influx of exhibitors, visitors, and international delegations, further enhancing the fair’s international appeal and solidifying its position as a major regional trade hub.

Islami Bank: A Trusted Partner in Trade at the DITF

For well over a decade, Islami Bank Bangladesh Limited, the pioneering Islamic bank in South Asia, has been an indispensable part of the DITF experience. Recognizing the fair’s pivotal role in stimulating economic activity, promoting financial inclusion, and fostering entrepreneurship, Islami Bank has consistently maintained a prominent and proactive presence, offering a comprehensive suite of essential financial services and actively promoting the core principles of Islamic banking.

This year, under the experienced leadership of Chairman Obayed Ullah Al Masud and Managing Director Mohammed Monirul Moula, supported by a dedicated team of key executives, including Mohammed Jamal Uddin Mazumder, AKM Mahbub Morshed, Md Maznuzzaman, and Nazrul Islam, the bank’s unwavering commitment to facilitating seamless trade, enhancing financial accessibility for all fairgoers, and promoting ethical finance remains a cornerstone of its participation.

Innovative Banking Solutions Tailored for a Dynamic Marketplace

Islami Bank’s strategically positioned stall at the DITF functions as a fully operational and technologically advanced mini-branch, seamlessly integrated with the latest innovations in the realm of Islamic banking and financial technology (FinTech). This enables the bank to deliver a comprehensive and customized suite of financial services meticulously tailored to meet the diverse needs of fair attendees, encompassing both local and international businesses and individuals:

• Simplified and Efficient Account Opening Procedures: Recognizing the time constraints and fast-paced environment of a bustling trade fair, Islami Bank has significantly streamlined its account opening procedures, making the process quick, efficient, and hassle-free. This allows businesses and individual visitors to promptly establish accounts, enabling them to conduct seamless transactions, manage their finances effectively, and fully participate in the fair’s commercial activities. This streamlined approach proves particularly beneficial for emerging businesses and aspiring entrepreneurs seeking to establish a solid financial foundation and capitalize on the opportunities presented by the DITF.

• Effortless and Convenient Transactions through Advanced ATM and CRM Infrastructure: Strategically located ATMs and cutting-edge Cash Recycling Machines (CRMs) ensure smooth, secure, and efficient cash withdrawals and deposits, minimizing the need for visitors and merchants to carry large sums of cash, enhancing security and convenience. CRMs, with their innovative dual functionality of accepting both cash deposits and dispensing cash, offer a significant advantage in terms of optimizing efficiency, reducing queues, and streamlining cash management, especially during peak hours at the fair.

• Embracing the Digital Banking Revolution with CellFin and mCash Mobile Apps: Islami Bank is at the forefront of digital banking innovation in Bangladesh, showcasing its user-friendly and feature-rich mobile banking solutions, the CellFin App and mCash. These powerful and versatile mobile apps empower users to conduct a wide range of financial transactions directly from their smartphones or other mobile devices, including secure fund transfers, convenient bill payments, seamless mobile top-ups, access to detailed account information, and much more. This digital convenience is exceptionally valuable in the dynamic and often crowded environment of the DITF, where speed, efficiency, and mobility are paramount.

• Expanding Reach and Accessibility through the Extensive Agent Banking Network: Islami Bank’s expansive and well-established agent banking network further extends its reach and accessibility beyond the confines of the central stall. These strategically positioned agents, present at various key locations throughout the sprawling fairgrounds, provide access to essential banking services, including convenient cash deposits and withdrawals, bringing vital financial services directly to the people and enhancing financial inclusion for all fair attendees.

• Enhanced Convenience and Control with Secure Internet Banking Platform: For customers who prefer the convenience and control of managing their finances online, Islami Bank offers its robust, secure, and user-friendly Internet banking platform. This platform allows customers to securely access their accounts, check real-time balances, execute fund transfers, pay bills online, and conduct a variety of other transactions remotely, providing maximum flexibility, saving valuable time, and enhancing overall convenience during their visit to the DITF.

• Streamlining Business Transactions with the Automated Challan System (ACS): Recognizing the specific needs of merchants and businesses participating in the DITF, Islami Bank provides the efficient and convenient Automated Challan System (ACS) at its stall. This system enables merchants to conveniently deposit VAT, tax, and other fees related to their daily business transactions, significantly streamlining the tax payment process, promoting regulatory compliance, and reducing administrative burdens.

A Deep-Rooted Commitment to Financial Literacy

Islami Bank’s commitment to the DITF extends far beyond the mere provision of transactional banking services. The bank is deeply dedicated to promoting financial literacy and fostering meaningful financial inclusion, with a particular emphasis on educating the public about the core principles, ethical foundations, and wide-ranging benefits of Islamic finance. At the Islami Bank stall, a team of dedicated and highly knowledgeable staff members are readily available to:

• Provide Comprehensive Explanations of Diverse Shariah-Compliant Financial Instruments: Islami Bank offers comprehensive information sessions, informative brochures, and personalized consultations on a wide range of Shariah-compliant financial products and services, including Mudaraba (profit-sharing), Musharaka (joint venture), Murabaha (cost-plus financing), Ijara (leasing), and other innovative Islamic financial solutions. This proactive educational outreach empowers visitors to gain a deeper understanding of the nuances of Islamic finance and make well-informed financial decisions that align with their ethical principles and financial objectives.

• Highlight the Distinct Ethical, Social, and Economic Benefits of Islamic Banking: The bank actively promotes the unique ethical, social, and economic advantages of Islamic banking, emphasizing its core principles of fairness, transparency, risk-sharing, social responsibility, and the prohibition of interest (riba). This helps to cultivate a broader understanding and acceptance of Islamic finance within the wider community, fostering a more inclusive and equitable financial system.

• Offer Tailored and Personalized Financial Advisory Services: Islami Bank provides personalized financial advisory services to both businesses and individual visitors, assisting them in developing sound financial strategies, effectively managing their finances, and achieving their long-term financial goals. This personalized guidance is particularly valuable for SMEs and aspiring entrepreneurs seeking expert advice on navigating the complexities of the business landscape, accessing appropriate financing options, and maximizing their growth potential.

The Dhaka International Trade Fair

The DITF serves as a powerful and dynamic symbol of Bangladesh’s remarkable economic dynamism, its entrepreneurial spirit, and its ambitious aspirations for sustained growth and deeper integration into the global economy. The fair plays a multifaceted role in:

• Boosting Exports, Diversifying Export Markets, and Attracting Foreign Direct Investment (FDI): The DITF acts as a crucial and highly effective platform for connecting Bangladeshi businesses with international buyers, facilitating export opportunities, diversifying export markets, and attracting valuable foreign direct investment (FDI), which is essential for driving economic growth, creating employment opportunities, and promoting sustainable development.

• Showcasing Domestic Innovation, Technological Advancements, and Entrepreneurial Talent: The fair provides a prominent and prestigious stage for showcasing the latest innovations, cutting-edge technological advancements, and the vibrant entrepreneurial talent that exists across various sectors of the Bangladeshi economy, fostering a robust culture of innovation, promoting the adoption of new technologies to enhance.