Sovereign credit rating creates level playing field, says Atiur
Tuesday, 20 April 2010
FE Report
Bangladesh Bank Governor Dr. Atiur Rahman has asked the local banks and financial institutions to take advantage of the country's recent favorable sovereign credit ratings in dealing with the counterparts abroad.
The local financial institutions, the central bank governor said, should use the positive ratings in bargaining for lower interest rates and charges for borrowing from the overseas entities for project loan syndications.
"The recent favorable sovereign credit rating of the country by Standard & Poors and Moody's have created a level playing field for the local business entities in negotiating with the foreign banks and institutions", Atiur said at a programme commemorating a decade of Prime Bank's loan syndications Sunday.
"This would also act as a source of confidence for the local banks and business entrepreneurs as they have a big role to play in sustaining the economic growth over the decade, which have placed the country in getting this favorable recognition", he added.
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Bangladesh Bank Governor Dr. Atiur Rahman has asked the local banks and financial institutions to take advantage of the country's recent favorable sovereign credit ratings in dealing with the counterparts abroad.
The local financial institutions, the central bank governor said, should use the positive ratings in bargaining for lower interest rates and charges for borrowing from the overseas entities for project loan syndications.
"The recent favorable sovereign credit rating of the country by Standard & Poors and Moody's have created a level playing field for the local business entities in negotiating with the foreign banks and institutions", Atiur said at a programme commemorating a decade of Prime Bank's loan syndications Sunday.
"This would also act as a source of confidence for the local banks and business entrepreneurs as they have a big role to play in sustaining the economic growth over the decade, which have placed the country in getting this favorable recognition", he added.
Continued to page 20