The association leaders made their demand at a discussion with the central bank governor, Fazle Kabir, at the BB headquarters. The governor informed the BMBA delegation that eleven banks already formed special fund and the rest were instructed to form special fund as soon as possible, said Bangladesh Bank spokesperson and Excutive Director Md Serajul Islam. Sonali Bank, Janata Bank, Rupali Bank, United Commercial Bank, Shahjalal Islami Bank, The City Bank, Islami Bank Bangladesh and Social Islami Bank informed the Bangladesh Bank last week about their fund creation, said a high official of the central bank. On February 10, BB allowed scheduled banks to form their special fund worth Tk200 crore each to invest in the stock market in an attempt to boost the sagging capital market. Brokerage houses, merchant banks, and stock market subsidiaries of banks and financial institutions would get access to the fund through the scheduled banks, the BB circular elaborated.

Source: Dhaka Tribune March 15, 2020 15:22 UTC