Standard Bank to provide loan for tech development of export industry
A fund of Tk1000 crore was set up from Bangladesh Bank's own sources
Standard Bank signed an agreement with Bangladesh Bank on Thursday at the Jahangir Alam Conference Hall of Bangladesh Bank to provide loans as part of the refinancing fund set up by Bangladesh Bank for technological development of export-oriented industries.
Khondoker Rashed Maqsood, MD and CEO of Standard Bank; and Khandaker Morshed Millat, GM of Bangladesh Bank; signed the agreement, said in a press release.
Enhancement of competitiveness and sustainability of export-oriented industries in the international market requires environment friendly production process, fuel economy and efficiency, working environment development and modernization of production equipment and technology.
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To this end, a fund of Tk1000 crore was set up from Bangladesh Bank's own sources. Deputy Governor of Bangladesh Bank Abu Farah Md Naser was present as the chief guest at the signing ceremony.
Executive Director of Bangladesh Bank, Nurun Nahar; Deputy General Manager, Chowdhury Liakot Ali; Additional Managing Director of Standard Bank, Md Touhidul Alam Khan; Vice President of Investment Division, Tapas Kumar Mandal; and other officials of both the organisations were present at the moment.
