Bangladesh, Nov. 6 -- BRAC Bank has completed Bangladesh's first fully digital export documentary collection transaction, reducing document processing time from 40 days to just one day through the use of blockchain technology and an electronic bill of lading.

Advertisement The transaction marks a significant step towards paperless international trade, demonstrating how digital technology can help Bangladeshi exporters reduce delays, improve operational efficiency and manage working capital more effectively, says a press statement.

The transaction involved NAZ Bangladesh, a corporate client of BRAC Bank, exporting ready-made garments to UK-based fashion retailer Matalan. BRAC Bank acted as the remitting bank in Bangladesh, while Lloyds ...