National Bank signs participation agreement with BB

Business Desk: Dhaka, Jan-31,

The National Bank Limited alongside other banks has signed a participation agreement with the Bangladesh Bank in the Taka 10,000 crore export support pre-financing fund formed by the central bank.

The participation agreement was signed on Monday between Maksuda Begum, Director of the Banking Regulations and Policy Department of the Bangladesh Bank and Syed Rois Uddin, Managing Director (Current Charge) of National Bank Limited, said a press release.

In the event, Bangladesh Bank Governor Abdur Rouf Talukder said that due to the adverse situation in the world economy due to the economic shock after the Covid-19 pandemic and the situation arising from the Russia-Ukraine war, the export-oriented industries of the country should bear more shocks to continue the ongoing trend of development and expansion of this sector.

An export support pre-financing fund of Taka 10,000 crore has been set up fully funded by the Bangladesh Bank.

Direct and indirect exporters will have the opportunity to take loans in local currency against the purchase or import of raw materials at only 4 percent interest from this fund, which will be for a period of 180 days. Bank-level interest rate will be 1.5 percent.

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