Standard Bank signs agreement with BB for EFPF of Tk10,000cr

Standard Bank has signed a participation agreement with Bangladesh Bank (BB) regarding the Export Facilitation Pre-Financing Fund (EFPF) of Tk10,000 crore for exporters to continue the development and expansion of export-oriented industries. 

An event was held in this regard at the Jahangir Alam Conference Hall of the central bank's head office in Dhaka on 30 January, reads a press release.

Under this fund, exporters will be able to take loans at 4% interest against the purchase or import of raw materials in local currency. 

The loan tenure will be 180 days.

In presence of BB Governor Abdur Rouf Talukder, Additional Managing Director of Standard Bank Md Touhidul Alam Khan, BB FCMA and Director (BRPD) Maksuda Begum signed the agreement on behalf of their respective organisations.

Among others, Deputy Governor Abu Farah Md. Nasser and Executive Director Nurun Nahar of the central bank were present at the event.