Business Desk :
Introduction of different types of bonds can reduce pressure on banking sector by meeting long-term and large-scale financing needs of the next generation businesses, speakers said at a programme recently.
They also said financial institutions with the support from regulators should introduce innovative instruments to attract more foreign direct investments (FDIs) which were needed for the country’s overall development.
The observations came at the ‘Subscription Closing Ceremony of City Bank Perpetual Bond’, organised by the City Bank Ltd at a hotel in the city’s Gulshan-2.
The programme was arranged following the issuance of the country’s first ever perpetual bond of Tk 4.0 billion by the City Bank Ltd.
The Prime Minister’s adviser for private industry and investment Salman F Rahman addressed the programme as the chief guest.
Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam, Bangladesh Bank (BB) Deputy Governor Ahmed Jamal and City Bank Ltd Chairman Aziz Al Kaiser spoke as special guests at the event, presided over by City Bank Capital Resources Ltd Chairman Aziz Al Mahmood.
Delivering his speech through a video conference, Mr Rahman said innovative financial instruments like perpetual bond and sukuk (Islamic bond) could help grow the financial market.
