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September 21, 2021 - M A Quader, DMD of DBL Group poses for photo session with the participants of the DBL Ceramics Business Conference 2021 at a resort in Gazipur recently. Md. Bayazed Bashar, General Manager, M Abu Hasib Ron, Head of Sales and other top officials of DBL Ceramics were present.
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September 20, 2021 - Dr. Md. Mofizur Rahman, Managing Director of SME Foundation and Md. Tajul Islam, Managing Director & CEO (CC) of Social Islami Bank Limited (SIBL), exchanging document after signing an agreement to disburse SME investment under the second phase of incentive package at SME Foundation head office in the capital recently.
September 18, 2021 - ‘Educational institutions cannot charge assignment fees’
September 18, 2021 - Nature and childhood in Tagore’s selected short stories
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September 18, 2021 - Lanka Bangla Caption: Khurshed Alam, Senior Executive Vice President and Head of Retail Business of LankaBangla Finance Limited and Rahad Hossain, Country Manager of Infobip, Bangladesh, exchanging documents after signing an agreement in a city hotel on Thursday.
September 18, 2021 - Ad-Din Hospital for poor patients’ kidney treatment
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September 15, 2021 - Anwar group gets new chairman
September 15, 2021 - Mohammed Monirul Moula, Managing Director and CEO of Islami Bank Bangladesh Limited, receiving letter of recognition of highest taxpayers in banking sector for 2020-21 fiscal year from Fazle Kabir, Governor of Bangladesh Bank at in a city hotel in the capital on Tuesday.
September 14, 2021 - Sheikh Hasina & Sheikh Rehana are last hopes of the nation: Murad
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September 14, 2021 - bKash launches integrated transaction service with Community Bank
September 14, 2021 - Mohammed Shawkat Jamil, Managing Director of United Commercial Bank PLC (UCB), inaugurating its 205th branch of United Commercial Bank PLC at Rangamati sadar on Sunday as chief guest. Rangamati Pouroshova Mayor Akbar Hussain Chowdhury, Arif Quadri, AMD, N Mustafa Tarek, Mohammed Habibur Rahman, DMDs, ATM Tahmiduzzaman, Company Secretary and other officials of the bank were present.
September 14, 2021 - ABM Mokammel Hoque Chowdhury, Managing Director of Union Bank Limited, recently inaugurates the bank’s new branch at Habiganj Sadar through virtually. Md. Habibur Rahman, AMD, Hasan Iqbal, Md. Nazrul Islam, DMDs and other senior officials of the bank were present.
September 14, 2021 - Mohammad Shamim Murshed, Head of Retail Banking Division of Premier Bank Limited and Khurrum Siddique, Managing Director of Simco Holdings Limited, exchanging document after signing an agreement on behalf of their respective organizations. Under the deal, both the company will promote Premier Home Loan to sell apartments among individual customers. M. Reazul Karim, Managing Director & CEO the Premier Bank Limited and Mozaffor Uddin Siddique, Chairman of Simco Holdings Limited were present.
September 14, 2021 - Sydul H Khandaker, Managing Director and CEO of upay and Shihab Ahmad, Chief Commercial Oficer of Robi Axiata Limited, exchanging document after signing an agreement on behalf of their respective organisations at a city hotel on Monday.Top officials from both sides were present.
September 14, 2021 - Md Monwarul Islam, Director General of Bangladesh Accreditation Board (BAB), poses for photo session at certificate handed over ceremony to officials of Summit Power Limited, the first IPP in Bangladesh to receive testing and calibration accreditations for its in-house labs.
September 14, 2021 - JaPa MP Prof Masuda Rashid Chy dies
September 12, 2021 - KSRM donates 6 Bipep machines to Ctg General Hospital
September 12, 2021 - EBL concludes first SOFR-based deal with Wells Fargo
September 12, 2021 - Hasan Mahmud Raja of United Group Limited and Zillul Karim of Credence Housing Limited, exchanging document after signing an agreement to develop two multi-storied buildings at Mohammadpur in the capital. Top officials from both sides were present.
September 11, 2021 - Women empowerment is of the essence to achieve Vision-2021, 2041
September 11, 2021 - Abul Kashem Md. Shirin, Managing Director & CEO of Dutch-Bangla Bank Limited (DBBL) and Md. Forkan Hossain, General Manager (Accounts & Budget) of Bangladesh Bank (BB), exchanging document after signing an agreement for collection of Govt. Revenue/Taxes through Automated Challan System (ACS) at BB head office in the capital on Monday. Mr. Ahmed Jamal, Deputy Governor of BB and other senior officials from both sides were present.
September 11, 2021 - Kashem elected Southeast Bank’s EC Chairman

EBL concludes first SOFR-based deal with Wells Fargo

Eastern Bank Limited, a leading private commercial bank in Bangladesh, has taken SOFR-based trade loan recently from Wells Fargo Bank.
This is the first SOFR-based transaction in Bangladesh market for the lender.
Under the deal, Wells Fargo, Singapore has extended a trade loan facility for 180 days to EBL where SOFR has been taken as the US Dollar benchmark rate instead of LIBOR.
As the publication of most tenors of the London Interbank Offered Rate (LIBOR) is expected to cease by the end of 2021, financial market participants across the globe are now gradually moving to risk-free interest rates.
The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by treasury securities.
SOFR is calculated as a volume-weighted median of transaction-level tri-party repo data, GCF Repo transaction data, and data on bilateral Treasury repo transactions. SOFR is calculated differently from LIBOR and does not have a credit risk component.
Deputy Managing Director and Head of Treasury, FI and Offshore banking of EBL Mehdi Zaman said, “The transition from LIBOR to risk-free benchmark rates is a recent development in the financial market across the globe and we are happy to partner with Wells Fargo in our first step into the new era of Alternative Reference Rates. This deal will help us prepare for this crucial LIBOR transition and future business endeavours.”
Managing Director and Head CIB -FIG, APAC South, Wells Fargo Bank Santanu Sengupta said, “As the global financial markets transition from LIBOR to Alternative Reference Rates, we are delighted to partner with Eastern Bank on their first SOFR benchmarked loan. Wells Fargo has played a leading role in this important industry initiative and we continue to work with our partners to prepare for the LIBOR transition.”
Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets, serves one in three households and more than 10 per cent small businesses in the US. It ranked No 37 on Fortune’s 2021 rankings of America’s largest corporations.

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