Facilitating long-term investment

BB inks deal with 3 more pvt banks

Bangladesh Bank (BB) signed separate agreements (PA) with three more private banks yesterday aiming to facilitate long-term financing under the World Bank-funded Financial Sector Support Project (FSSP), reports UNB.
Under the agreements, the three banks - Jamuna Bank Limited, Pubali Bank Limited and Shahjalal Islami Bank Limited - can go for long-term financing of projects in the country's manufacturing sector through utilizing this fund.
Executive Director (FSSP) of BB Ahsan Ullah signed the deal separately with the top executives of the 3 banks at a function at the central bank headquarters in the city.
Central Bank deputy governor SK Sur Chowdhury and other top officials from both the sides were present on the occasion.
Earlier, the central bank signed similar participating agreements with sixteen banks which include Mutual Trust Bank Limited, Prime Bank Limited, One Bank Limited, Al-Arafah Islami Bank Limited, Eastern Bank Limited, United Commercial Bank Limited, Dhaka Bank Limited, Bank Asia Limited, Social Islami Bank Limited, Export Import Bank of Bangladesh Limited, Dutch Bangla Bank Limited, IFIC Bank Limited, South East Bank Limited, Standard Bank Limited, Trust Bank Limited, and Standard Chartered Bank.
Bangladesh Bank officials said that under FSSP fund, the banks can lend money for ventures in the industrial productive sectors for tenure of 3 to 10 years.
The banks will have to pay interest rate between 3.25 per cent and 4.25 per cent to the central bank to use the refinance fund.

Facilitating long-term investment

BB inks deal with 3 more pvt banks

Bangladesh Bank (BB) signed separate agreements (PA) with three more private banks yesterday aiming to facilitate long-term financing under the World Bank-funded Financial Sector Support Project (FSSP), reports UNB. Under the agreements, the three banks - Jamuna Bank Limited, Pubali Bank Limited and Shahjalal Islami Bank Limited - can go for long-term financing of projects in the countrys manufacturing sector through utilizing this fund. Executive Director (FSSP) of BB Ahsan Ullah signed the deal separately with the top executives of the 3 banks at a function at the central bank headquarters in the city. Central Bank deputy governor SK Sur Chowdhury and other top officials from both the sides were present on the occasion. Earlier, the central bank signed similar participating agreements with sixteen banks which include Mutual Trust Bank Limited, Prime Bank Limited, One Bank Limited, Al-Arafah Islami Bank Limited, Eastern Bank Limited, United Commercial Bank Limited, Dhaka Bank Limited, Bank Asia Limited, Social Islami Bank Limited, Export Import Bank of Bangladesh Limited, Dutch Bangla Bank Limited, IFIC Bank Limited, South East Bank Limited, Standard Bank Limited, Trust Bank Limited, and Standard Chartered Bank. Bangladesh Bank officials said that under FSSP fund, the banks can lend money for ventures in the industrial productive sectors for tenure of 3 to 10 years. The banks will have to pay interest rate between 3.25 per cent and 4.25 per cent to the central bank to use the refinance fund.