Post-import financing made easier
Bangladesh Bank yesterday revised its policy for post-import financing (PIF) to ease the process for importers to get finance smoothly. As per the previous guidelines on PIF released in June last year, Bangladesh Bank mentioned two sectors — essential commodities and industrial raw materials — where banks could finance importers. In the latest guidelines, the central bank asked lenders in the country to finance to two more sectors, which are trading and agricultural items, alongside the previous two. Similarly, businesses which import agricultural products such as fertiliser, seed and pesticide will be allowed to repay their loans within six months. The central bank also instructed banks not to facilitate PIF to borrowers who face overdue debt Lenders, however, will provide PIF to importers who are unable to repay their loans due to any unexpected adversity.
EBL arranges Tk 12b syndication loan facility for Banglalink
Eastern Bank Limited (EBL) as the mandated lead arranger has raised BDT 12 billion in the form of Syndicated Term Loan Facility for Banglalink Digital Communications Limited, one of the leading telecom operators in Bangladesh. A total of 17 banks participated in the landmark syndication. The loan facility will be utilized by Banglalink for meeting up its capital expenditure, spectrum acquisition and 4G network modernizations. The other participating banks are: Brac Bank Limited, Bank Asia Limited, The City Bank Limited, Commercial Bank of Ceylon PLC, Dhaka Bank Ltd., Dutch Bangla Bank Limited, Habib Bank Limited, Jamuna Bank Limited, Meghna Bank Limited, NCC Bank Limited, Mutual Trust Bank Limited, ONE Bank Limited, Prime Bank Limited, Trust Bank Limited, Mercantile Bank Limited, United Commercial Bank Limited.
New AMD of NCC Bank
Khondoker Nayeemul Kabir has recently been promoted to the post of Additional Managing Director (AMD) of NCC Bank Ltd. Prior to the promotion, he was serving as DMD leading corporate business and many important divisions. He has played vital role in setting up and implementing strategic plan of the Bank as well as entrusted with the responsibilities as head of various important committees and held the position of CAMLCO. Mr. Kabir is a senior banker with over 38 years of vast experiences at Midland Bank, Al-Arafah Islami Bank, National Bank Limited and EXIM Bank Ltd.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 809.28||↓ 2.38 %|
|FTSE100||$ 7,386.19||↑ 5.65||↑ 0.08 %|
|Nikkei 225||$ 26,198.79||↓ 501.32||↓ 1.88 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 101.90||↑ 0.20||↑ 0.20 %|
|Crude Oil (Brent)||$ 105.36||↑ 0.37||↑ 0.35 %|
|Gold Spot||$ 1,898.37||↓ 7.14||↓ 0.37 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 86.2000|
|GBP 1||BDT 110.6894|
|EUR 1||BDT 93.0615|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<