News Briefs (01-08-2019)

MPS puts thrust on implementation of public issue rules

The central bank has laid importance on proper implementation of the recent changes, made by the securities regulator in public issue rules, to overcome the manipulation trend, perpetrated by a section of market players. The Bangladesh Bank (BB) gave emphasis on the implementation of public issue rules in the monetary policy statement (MPS) for the fiscal year 2019-20, unveiled on Wednesday. "Recent changes in IPO (initial public offering) rules introduced by BSEC to that end need to be implemented properly, overcoming manipulation of market information," the MPS said. The BB said it proactively acted together with the Bangladesh Securities and Exchange Commission (BSEC) and ministry of finance in helping overcome emergency situations in the stock market. The MPS said the promotion of corporate bond issuance for raising medium and long-term finance and activation of market in corporate bonds are prioritised by the government and authorities concerned. — FE Report

Ali Reza Iftekhar (right), Managing Director and CEO, Eastern Bank Limited and Alexander Mondorf, Regional Head, Indian Subcontinent ASEAN, Commerzbank AG of Germany signing a Master Trade Loan Agreement (MRTA) in Dhaka recently. EBL Deputy Managing Director Ahmed Shaheen, Head of International Business and Off-Shore Banking Md. Obaidul Islam,Commerzbank Senior Relationship Manager-Indian Subcontinent and ASEAN Christian Muhlbauer, Chief Representative -Dhaka Tawfiq Ali were present among others on the occasion

EBL signs MRTA with German Commerzbank

Eastern Bank Limited (EBL) has entered into Master Trade Loan Agreement (MRTA) with Commerzbank AG of Germany to facilitate trade business between Bangladesh and Germany. EBL and Commerzbank AG are having a longstanding partnership in different areas. In addition to sourcing of foreign currency from Development Financial Institutions, EBL has been sourcing short term funds from foreign partner banks to support trade financing from Offshore Banking. Ali Reza Iftekhar, Managing Director and CEO, Eastern Bank Limited and Alexander Mondorf, Regional Head, Indian Subcontinent ASEAN, Commerzbank AG signed the MRTA on behalf of their respective organizations. EBL Deputy Managing Director Ahmed Shaheen, Head of International Business and Off-Shore Banking Md. Obaidul Islam,Commerzbank Senior Relationship Manager-Indian Subcontinent and ASEAN Christian Muhlbauer, Chief Representative -Dhaka Tawfiq Ali were present among others on the occasion — Statement