DIBOR comes into force Jan 6
Sunday, 3 January 2010
Siddique Islam
Dhaka Inter-bank Offered Rate (DIBOR) will officially come into force from Wednesday in the form of the country's first benchmark interest rate in the financial market.
"We expect the DIBOR to be launched formally from January 6, 2010 and that would be used as benchmark interest rate in the market," Chairman of the Bangladesh Foreign
Continued to page 7 Col. 1Exchange Dealers' Association (BAFEDA) Syed Abu Naser Bukhtear Ahmed told the FE Saturday.
Bangladesh Bank Governor Atiur Rahman is expected to launch the benchmark interest rate to ensure transparency in the country's money market.
Mr. Bukhtear also said the BAFEDA has been collecting data from its 44 member banks since December 1 last year and these have been published through its website regularly.
Meanwhile, the central bank has warned the commercial banks of stern action if they do not quote DIBOR rates properly.
Dhaka Inter-bank Offered Rate (DIBOR) will officially come into force from Wednesday in the form of the country's first benchmark interest rate in the financial market.
"We expect the DIBOR to be launched formally from January 6, 2010 and that would be used as benchmark interest rate in the market," Chairman of the Bangladesh Foreign
Continued to page 7 Col. 1Exchange Dealers' Association (BAFEDA) Syed Abu Naser Bukhtear Ahmed told the FE Saturday.
Bangladesh Bank Governor Atiur Rahman is expected to launch the benchmark interest rate to ensure transparency in the country's money market.
Mr. Bukhtear also said the BAFEDA has been collecting data from its 44 member banks since December 1 last year and these have been published through its website regularly.
Meanwhile, the central bank has warned the commercial banks of stern action if they do not quote DIBOR rates properly.