CBC, AB Bank end month-long term transaction using DIBOR
Wednesday, 13 January 2010
FE Report
Commercial Bank of Ceylon (CBC) and AB Bank Limited initiated a month-long transaction based on the newly launched DIBOR Benchmark Thursday.
The particular transaction has a unique feature of re-pricing the transaction in every week based on the published DIBOR of that period.
Both the banks agreed that taking this step forward would help to create a more vibrant financial market in the country.
Market experts are very much optimistic that official launch of DIBOR will encourage banks to quote two ways on transactions thereby improving liquidity in the market.
Having reference rate on term transaction will also help the development of the forward foreign exchange markets in Bangladesh.
CBC also completed the first training programme to its corporate banking officials on the fundamentals and prospects of DIBOR after its official launching by Bangladesh Bank.
Bangladesh Bank has officially launched Dhaka Inter-Bank Offered Rate (DIBOR) in Bangladesh Market recently, said a press release.
This came to success with able assistance from Bangladesh Foreign Exchange Dealers' Association (BAFEDA).
Commercial Bank of Ceylon (CBC) and AB Bank Limited initiated a month-long transaction based on the newly launched DIBOR Benchmark Thursday.
The particular transaction has a unique feature of re-pricing the transaction in every week based on the published DIBOR of that period.
Both the banks agreed that taking this step forward would help to create a more vibrant financial market in the country.
Market experts are very much optimistic that official launch of DIBOR will encourage banks to quote two ways on transactions thereby improving liquidity in the market.
Having reference rate on term transaction will also help the development of the forward foreign exchange markets in Bangladesh.
CBC also completed the first training programme to its corporate banking officials on the fundamentals and prospects of DIBOR after its official launching by Bangladesh Bank.
Bangladesh Bank has officially launched Dhaka Inter-Bank Offered Rate (DIBOR) in Bangladesh Market recently, said a press release.
This came to success with able assistance from Bangladesh Foreign Exchange Dealers' Association (BAFEDA).