Partners across the UK-Bangladesh trade corridor have successfully completed a landmark digitally executed documentary collection involving a Bangladeshi exporter.
The transaction involved the shipment of ready-made garments from Bangladeshi exporter NAZ Bangladesh Limited to UK fashion retailer Matalan. The process was handled by BRAC Bank as the remitting bank in Bangladesh and Lloyds as the collecting bank in the UK, and included the issuance of a fully digital Bill of Lading (eBL) by a major container carrier.
Facilitated by Enigio’s trace:original technology, this transaction simplifies a critical supply chain route, reducing a trade process that typically takes 40 days to within just 1 day.
The transaction involved the digital transfer of all essential trade documents, such as the eBL and a digital Promissory Note. This digital process removed the need for courier services, physical document handling, and the delays typical of traditional documentary collections.
Enabled by Bangladesh Bank’s digital trade reforms
Bangladesh Bank’s digital trade reforms, introduced this year, made the transaction possible by allowing trade documents, including documents of title and transferable instruments, to be presented electronically through approved trade corridors where the counterpart jurisdiction recognises electronic transferable records.
The framework is designed to be technology-neutral and interoperable, with plans for expansion beyond current pilot corridors after regulatory assessment.
Here are some highlights on the transaction.
Industry perspectives
Su Ashworth, Head of Trade Finance at
Matalan, said, “The retail supply chain demands speed and flexibility. Moving to a fully paperless flow with a key supplier in Bangladesh is a critical step to achieve this.”
“The significant time saving gained by moving documents digitally – rather than waiting for a physical courier – has allowed us to streamline our inventory management and reduce the risk of shipment delays. This reinforces our commitment to efficiency and sustainability, and in turn delivers a better service for our end customers.”
Nasir Uddin Ahmed, Managing Director of
NAZ Bangladesh Limited, added, “As a leading garment exporter, speed and reliability are paramount to our business. The successful completion of this digitally executed transaction with Matalan and our banking partners is a major milestone.”
“It proves that the future of trade is paperless and that we can achieve greater efficiency and transparency in our international dealings, directly benefiting our operational bottom line and our customers.”
Surath Sengupta, Managing Director, Head of Transaction Banking Products at
Lloyds, said, “This transaction demonstrates how digital trade can deliver tangible benefits for businesses today. By replacing paper-based processes with secure digital documentation, we’ve shown how trade flows can move faster, with greater transparency and significantly less operational friction.”
“The UK-Bangladesh corridor demonstrates the opportunity digital trade presents across global supply chains. Creating the ability to digitise flows at scale represents a significant opportunity to reduce processing times, improve working capital efficiency and make cross-border trade simpler and more resilient for businesses. The reduction from a 40-day process to within a single day highlights the potential for digital trade to improve cash flow, strengthen supply chains and support international commerce at scale.”
Alex Waites, Chief Sales Officer of
Enigio, also said, “This transaction shows what digital trade looks like when it moves from concept to commercial reality. Working alongside partners like Matalan, BRAC Bank and Lloyds, we’ve proven that a fully digital documentary collection isn’t just technically possible but it also delivers tangible value that can be scaled easily, turning a 40-day cycle into a single day.”
“That’s the kind of measurable impact that will drive adoption across the UK–Bangladesh corridor and well beyond, and we’re excited to help more banks and corporates unlock it.”
Tareq Refat Ullah Khan, MD and CEO of
BRAC Bank, said, “From 40 days to just one: BRAC Bank is redefining the pace of digital trade in Bangladesh. We are proud to be the first bank in Bangladesh to complete a fully digital, end-to-end export documentary collection using blockchain technology and an electronic Bill of Lading (eBL).”
“This milestone demonstrates how technology can accelerate working capital cycles, reduce documentation delays and enhance the global competitiveness of Bangladeshi exporters. Supporting the growth of the RMG sector and the country’s export economy remains a strategic priority for BRAC Bank. Through Enigio’s solution and collaboration with our partners, we are making cross-border trade faster, more secure and transparent.”
“We sincerely appreciate Bangladesh Bank’s forward-looking guidance in enabling this achievement. At BRAC Bank, innovation is meaningful when it creates measurable value for our clients and the economy.”
This successful transaction is a key step in the digital transformation of international trade. It shows how technology can reduce processing times, improve working capital efficiency, and boost global supply chain resilience.
