EBL unveils product for NRB investors
Monday, 13 December 2010
FE Report
Eastern Bank Ltd. (EBL) launched 'Swadesh Biniyog', a solution for Non-Resident Bangladeshis (NRBs) who are willing to invest in capital market of Bangladesh, at a city hotel Sunday.
Managing Director and CEO of EBL Ali Reza Iftekhar inaugurated the solution. Deputy Managing Director Muklesur Rahman, Head of Marketing Ziaul Karim and Head of NRB Business Towfiqul Alam Chowdhury were present on the occasion.
Ali Reza Iftekhar said, "There hasn't been enough initiative to accommodate NRBs in the investment scenario in our country and we expect 'Swadesh Biniyog' to fill this gap to some extent".
Highlighting the work flow of 'Swadesh Biniyog', Towfiqul A Chowdhury said, "This solution will use Non Resident Investors Taka Account (NITA) to enable NRBs to subscribe to IPO from anywhere in the world".
"NITA is a gateway of Bangladesh Bank that allows NRBs to invest in share market and repatriate easily", Mr Chowdhury said.
Customers will need to give power of attorney to EBL and enter a tripartite agreement with EBL, EBL securities along with other necessary documents to open Beneficiary Owners (BO) account.
Eastern Bank Ltd. (EBL) launched 'Swadesh Biniyog', a solution for Non-Resident Bangladeshis (NRBs) who are willing to invest in capital market of Bangladesh, at a city hotel Sunday.
Managing Director and CEO of EBL Ali Reza Iftekhar inaugurated the solution. Deputy Managing Director Muklesur Rahman, Head of Marketing Ziaul Karim and Head of NRB Business Towfiqul Alam Chowdhury were present on the occasion.
Ali Reza Iftekhar said, "There hasn't been enough initiative to accommodate NRBs in the investment scenario in our country and we expect 'Swadesh Biniyog' to fill this gap to some extent".
Highlighting the work flow of 'Swadesh Biniyog', Towfiqul A Chowdhury said, "This solution will use Non Resident Investors Taka Account (NITA) to enable NRBs to subscribe to IPO from anywhere in the world".
"NITA is a gateway of Bangladesh Bank that allows NRBs to invest in share market and repatriate easily", Mr Chowdhury said.
Customers will need to give power of attorney to EBL and enter a tripartite agreement with EBL, EBL securities along with other necessary documents to open Beneficiary Owners (BO) account.