Bank Asia inks deal with BB to participate Tk 100b export facilitation pre-finance fund

Bank Asia Limited has signed an agreement with Bangladesh Bank to participate in the newly formed Export Facilitation Pre-finance Fund (EFPF) worth Tk 100 billion.

In presence of Mr Abdur Rouf Talukder, governor of Bangladesh Bank, Mr Adil Chowdhury, president and managing director of the Bank Asia, and Ms Maksuda Begum, director (BRPD), Bangladesh Bank, signed the agreement on behalf of their respective organisations on Monday.

Among others, Mr Abu Farah Md. Nasser, deputy governor and Nurun Nahar, executive director of Bangladesh Bank, were present on the occasion, held at Jahangir Alam Conference Room of the central bank’s headquarters in Dhaka, says a media release.

Under this fund, exporters will be able to avail of loans in local currency against the purchase or import of raw materials at an interest rate of 4.0 per cent. The tenure of the loan will be maximum of 180 days.

Earlier on January 01 this year, the central bank formed the fund for exporters to continue the development and expansion of export-oriented industries.