Eastern Bank Limited has opened its representative office in China's Guangzhou province recently, said a statement.
EBL is the first Bangladeshi financial institution to begin its operations in China.
AHM Jahangir, Economic Counsellor of Bangladesh Embassy to China, Md. Showkat Ali Chowdhury, Chairman and Meah Mohammed Abdur Rahim, Director, Ali Reza Iftekhar, Managing Director and CEO of EBL inaugurated the China operation by cutting a ribbon at a ceremony, attended by representatives from leading Chinese banks such as Bank of China, China Construction Bank, top Chinese corporates, PWC, Bangladeshi companies having business operation in China.
AHM Jahangir expressed the hope that the EBL representative office in Guangzhou will be instrumental to tap more business opportunities in China and contribute further to the growing China-Bangladesh bilateral trade.
Md. Showkat Ali Chowdhury said," With the beginning of operations in China EBL is expanding its footprint in Southeast Asia. China, as is an important market and the biggest development partner of Bangladesh with many development initiatives like Belt and Road and Asian Infrastructure Investment Bank (AIIB)."
Ali Reza Iftekhar in his speech informed that EBL has partnered with China Union Pay and have opened China Desk in Dhaka to cater to China-bound business. EBL has opened a RMB account (Chinese Currency Nostro account with Bank of China) for LC business in RMB. The Bank has been running two other overseas offices in Hong Kong and Myanmar.
Hassan O. Rashid, Additional Managing Director, Md. Obaidul Islam, Head of International Business and Offshore Banking Division of the Bank, Sohail Murshed, Chief Executive Officer, EBL Finance (HK) Limited, and Ziadul Huq, Chief Representative Officer, EBL Guangzhou Representative Office and Ziaul Karim, Head of Communications and External Affairs were present among others at the inaugural ceremony.
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