Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla) signed a Memorandum of Understanding (MoU) with IFIC Bank at Petrobangla’s board room at Karwan Bazar in the capital, a press release of the bank said yesterday. Syed Ashfaquzzaman, secretary of Petrobangla, and Shah Md. Moinuddin, DMD of IFIC Bank signed MoU on behalf of their respective organisations.

Under the agreement, Petro Bangla will pay the bill for LNG terminal in foreign currency.

Ruhul Amin, chairman of Petrobangla, and, Shah A Sarwar, MD and CEO of IFIC Bank, were also present along with others at the event.