Photo: BIGSTOCKThe fund can be drawn from the bank’s own resources or borrowing money from the central bank through Treasury bills or bond repurchase agreements or repos at a 5% interest rateScheduled banks on Monday decided to invest in the ailing stock market starting tomorrow from their special fund formed to shore up the struggling market. Bangladesh Bank on February 10 issued a circular, allowing scheduled banks to form a special fund of Tk200crore each for investment in the capital market. Kamal told reporters that bankers and bank directors ensured him of forming special fund by all banks as soon as possible. BAB President Nazrul Islam said banks agreed to form special funds for investing in the stock market. Meanwhile, Sonali Bank, Janata Bank, Rupali Bank, United Commercial Bank, Shahjalal Islami Bank, The City Bank, Islami Bank Bangladesh and Social Islami Bank already informed the Bangladesh Bank last week about their fund creation.

Source: Dhaka Tribune March 16, 2020 16:07 UTC