Case Study on Applied Bioplastics Limited: Business Compliance & More

Bringing Compliance Up to Speed for a Sustainable Plastics Innovator

Applied Bioplastics Limited is the Bangladesh subsidiary of Applied Bioplastic Corp. USA, a company supplying economically sustainable, plant-based alternatives to traditional plastics. Their products are used across a wide range of applications and are engineered to outperform standard materials in mechanical strength, all while offering a more sustainable footprint.

The Challenge

Despite its innovative product line, Applied Bioplastics had accumulated a few compliance gaps since its inception in Bangladesh. The company had no dedicated Finance and Accounts department, and no formal payroll department to manage employee payments. Without these functions in place, the risk of regulatory penalties was growing.

What We Did

Karifin was appointed to conduct a full compliance health checkup for the organization. Our task was to identify every existing gap and bring the company's compliance status fully up to date, protecting it from potential future penalties.

How We Delivered

Our team reviewed the company's history and systematically addressed each area of non-compliance, ensuring everything was properly resolved. Beyond fixing existing issues, we also advised the management team on structural changes to their bookkeeping and accounting practices, so the systems in place going forward would be built to prevent similar gaps from recurring.

The Result

Applied Bioplastics now operates with a clean compliance record and a clearer accounting structure. With guidance on both immediate fixes and long-term practices, the company's management is better equipped to manage its finance function as the business continues to grow.

Not sure where your business stands on compliance? Reach out to Karifin for a health checkup of your own.