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BIAA

The Bangladesh Indenting Agents' Association (BIAA), established in 1978, represents licensed indentors and aims to promote cooperation among its members while safeguarding their interests in international trade. Governed by a bi-annually elected Board of Directors, BIAA publishes a bi-monthly newsletter and has recently advocated for VAT exemptions on indenting services and partnered with BRAC Bank to enhance banking solutions for its members. Through these efforts, BIAA significantly contributes to the growth of the indenting sector and the overall economic development of Bangladesh.

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115 views2 pages

BIAA

The Bangladesh Indenting Agents' Association (BIAA), established in 1978, represents licensed indentors and aims to promote cooperation among its members while safeguarding their interests in international trade. Governed by a bi-annually elected Board of Directors, BIAA publishes a bi-monthly newsletter and has recently advocated for VAT exemptions on indenting services and partnered with BRAC Bank to enhance banking solutions for its members. Through these efforts, BIAA significantly contributes to the growth of the indenting sector and the overall economic development of Bangladesh.

Uploaded by

ahsancrpt01
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

The Bangladesh Indenting Agents' Association (BIAA) is a national body representing indentors

licensed under the Ministry of Commerce and registered with the Registrar of Joint Stock
Companies & Firms. Established in 1978, BIAA is affiliated with the Federation of Bangladesh
Chambers of Commerce and Industry (FBCCI) as an "A" class Association.
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Objectives and Activities:
BIAA aims to foster camaraderie, facilitate the exchange of ideas, and promote cooperation
among its members and their foreign counterparts. The Association is dedicated to protecting and
safeguarding the interests of its members, who play a crucial role in facilitating international
trade by acting as intermediaries between foreign suppliers and local businesses. To keep its
members informed, BIAA publishes a bi-monthly newsletter titled "INDENTORS Newsletter,"
which provides updated business information and is distributed among members, various
government ministries, departments, sector corporations, and diplomatic missions both
domestically and internationally. citeturn0search0
Governance:
The Association is governed by a Board of Directors elected bi-annually. The President serves as
the Chief Executive of the Association, supported by the Senior Vice-President, Vice-President,
and the BIAA secretariat. citeturn0search0
Contact Information:
BIAA's head office is located at:
195 Shahid Syed Nazrul Islam Sarani, Saiham Sky View Tower, Level 7, (Old 45 Bijoy Nagar
Road), Naya Paltan, Dhaka 1000.
For inquiries, they can be reached at:
 Phone: 02-8391501
 Email: biaa@[Link]
 Website: [Link]
Recent Initiatives and Collaborations:
 Advocacy Efforts: BIAA has actively advocated for the withdrawal of Value Added Tax
(VAT) on indenting services, emphasizing that such services are a form of export and
should be exempt from VAT as per existing laws. The Association has also called for a
reduction in the advance income tax (AIT) to 0.5% to align with other exporting sectors.
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 Banking Partnerships: In September 2023, BIAA entered into a Memorandum of
Understanding (MoU) with BRAC Bank to provide comprehensive banking solutions
tailored for the Association's over 1,500 member firms. This collaboration aims to offer
smart banking solutions, exclusive transaction banking services, and dedicated remittance
services to ensure prompt encashment of inward foreign currency and execution of local
transactions, thereby supporting the growth of the indenting sector.
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Through these initiatives, BIAA continues to play a pivotal role in supporting and advancing the
interests of indenting agents in Bangladesh, contributing significantly to the country's trade and
economic development.

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