MTB arranges Commercial Paper for Pran Agro

Mutual Trust Bank Limited (MTB) has arranged issue of Commercial Paper of BDT 450 million covered by Bank Guarantee for Pran Agro Ltd., a concern of PRAN-RFL Group, with the closing ceremony held at a city hotel recently. Shitangshu Kumar Sur Chowdhury, Deputy Governor, Bangladesh Bank, graced the programme as the chief guest. Major General Amjad Khan Chowdhury (Retd.), CEO, PRAN-RFL Group and Rashed A. Chowdhury, Chairman, Mutual Trust Bank were present as the Special Guests. MTB Managing Director & CEO, Anis A. Khan, MTB Deputy Managing Director & Chief Business Officer, Syed Rafiqul Haq and on behalf of the subscribers Ali Reza Iftekhar, Managing Director & CEO, Eastern Bank Ltd, Niaz Habib, Managing Director, Dhaka Bank Ltd., R. Q. M. Forkan, Deputy Managing Director, NRB Global Bank Ltd. and S M Monirul Alam Ovee, Director, Walton Hi-Tech Industries Ltd. were present at the event. Senior officials from different banks and non-bank financial institutions, senior officials of MTB and different subsidiaries of Pran-RFL Group also attended the programme. S K Sur Chowdhury, in his speech, appreciated the efforts of MTB and PRAN to successfully launch this Commercial Paper in the market. Such innovative ideas are important for the growth and development of the financial market, he added. The MTB Chairman, in his address, appreciated the initiative of arranging Commercial Paper, a lower-cost alternative to bank loans. He opined that this will broaden the investment opportunities in the market by providing an additional financial instrument for the investors. Major General Amjad Khan Chowdhury (Retd.) expressed his gratitude to MTB and the subscribers for having confidence in PRAN. He also urged everyone to continue such initiatives in the times ahead to tap the growth potential of Bangladesh, according to a statement.