ADB signs deal with five global insurers

The Asian Development Bank (ADB) has signed an agreement with five leading global insurers which will mobilise up to US$1 billion of cofinancing capacity to support lending to Financial Institutions (FIs) in Asia and the Pacific. The highly rated insurers participating in the programmeme will cover the risk of nonpayment on a portion of ADB’s loans to the financial institutions. This will allow ADB to transfer credit risk from its portfolio to insurers’ balance sheets, freeing up ADB’s capital, managing its exposures and increasing its lending capacity.The programme streamlines the underwriting and approval process for risk transfers and will allow ADB to more efficiently mobilise cofinancing capacity. ADB’s loans to the financial sector have included support for operational priorities such as micro, small, and medium-sized enterprises, gender equality, and efforts to address climate change.

Source: https://today.thefinancialexpress.com.bd/trade-market/adb-signs-deal-with-five-global-insurers-1661104551

DSEX gains 111 points in four trading sessions

The benchmark index of the Dhaka Stock Exchange (DSE) advanced for the fourth consecutive session on Sunday, thanks to the growing confidence of investors backed by the government’s announcement to adjust fuel prices according to the global markets. Investors breathed a sigh of relief also because of the Bangladesh Bank’s efforts to stabilise dollar prices, said a top official of a brokerage firm. DSEX surged 111 points in the last four trading sessions and reached 6,259 on Sunday.Also, at the Chittagong Stock Exchange, the all share price index Caspi advanced 20 points to reach 18,390.Meanwhile, the Dhaka bourse observed a slight decrease in participation as the total turnover declined by 8.8% to Tk1,060 crore on Sunday from Tk1,160 crore in the previous session.

Source: https://www.tbsnews.net/economy/stocks/dsex-gains-111-points-four-trading-sessions-481390

Mr. Ziaul Hasan re-appointed Sonali Bank chairman

Mr. Ziaul Hasan Siddiqui has been re-appointed chairman of Sonali Bank for next three years. Financial Institutions Department under the Ministry of Finance issued a notification to this effect on Sunday. Mr. Siddiqui first became the chairman of the country’s largest state-owned commercial bank -Sonali Bank Limited-in 2019. Earlier, he was deputy governor of Bangladesh Bank from 2006 to 2011.

Source: https://today.thefinancialexpress.com.bd/last-page/ziaul-hasan-re-appointed-sonali-bank-chairman-1661106969