Once a mere fish supplier to the export-oriented fish factories in Khulna, SR Fish was trapped in high receivables- causing extreme cash crunch in the company, according to a press release.
The story is dated back in 2018-19, when SR Fish’s financial partner Meghna Bank Ltd had too many things to worry about, the release said, adding that the situation went so bad the account reached the verge of classification.
However, the bank was sure about the client’s ‘willingness to pay’- and that, the bank realised during the turmoil. Apart from chasing the customer only for money, the bank sat with the client, understood the real problem - studied its receivables in the market, devised strategies that allowed the client stay afloat in difficult times and regain its honour gradually.
The outcome is now visible. The once wholesaler of fish, has taken a controlling stake in an export-oriented factory（Bionic Seafood Export Ltd). Whereas SR Fish once had large receivables piled up, now, the fish vendor owns a complete integration in its fish business - from sourcing fish to direct export to the buyers. His export by now has made him amongst the top 15 fish exporters of his region.
SR Fish is now being paid on the same day the export proceeds are received, said the press release.
‘Meghna Bank went extra miles for me, in my dire situation. And today we have reached where we are with their continuous help,’ said Siddiqur Rahman, owner of SR Fish.
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