Bank Asia signs deal with BB for long-term financing facility

Bank Asia Limited has signed a participatory agreement with Bangladesh Bank under the Long-Term Financing Facility (BB-LTFF) programme of the Financial Sector Support and Strategic Planning Department for private sector firms, particularly export-oriented manufacturing industries.

Shafiuzzaman, president and managing director (current charge) of Bank Asia, and Liza Fahmida, director of the Financial Sector Support and Strategic Planning Department of Bangladesh Bank, penned the deal at the central bank headquarters in Motijheel yesterday, said a press release.

Under this agreement, Bank Asia will be able to borrow funds from the central bank to finance the compliance initiatives of export-oriented manufacturing (small, medium and large) customers.

Nurun Nahar, deputy governor of Bangladesh Bank, Md Abul Bashar, executive director, Debdulal Roy, executive director (ICT), AKM Kamruzzaman, director of the forex reserve and treasury management department, Md Abul Bashar, director of the accounts and budgeting department, along with other senior officials were present.