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Qatar to invest US$ 1.8bn in BB: Atiur
UNBconnect... - Qatar to invest US$ 1.8bn in BB: Atiur
Reported by: UNBConnect
Reported on: December 03, 2012 18:10 PM
Reported in: Business
Doha, Dec 3 (UNB) Qatar, which makes huge investment abroad, has agreed to deposit US$1.8 billion in the Bangladesh Bank, governor Dr Atiur Rahman said here on Monday.
I had a meeting with acting governor of Qatar central bank we discussed the matter in details. A memorandum of understanding (MoU) will soon be signed in this regard, Atiur told UNB in Doha after a meeting with Sheikh Fahad Faisal Al-Thani.
The meeting was held at 10 am (local time) at the central bank office of Qatar in Doha.
Dr Atiur said a technical team of Bangladesh Bank will visit Qatar in January to finalise the terms and conditions in this regard.
He said if Qatar deposits the money with the Bangladesh Bank, its reserve will increase and it will have a positive impact on the balance of payments.
An official at the central bank here said the BB will share profits with the Gulf nation from investing the fund abroad if things get finalised.
The BB official said the central bank makes a handsome amount of profit every year from the investments it makes abroad.
The investment of central banks reserve ranges from one day to one month or more. As a result, the rate of interest varies.
This is the first time Bangladesh got such scope of huge investment since 1987. Before 1987, some Middle Eastern countries invested small amounts of money in the central bank of Bangladesh.
UNBconnect... - Qatar to invest US$ 1.8bn in BB: Atiur
Reported by: UNBConnect
Reported on: December 03, 2012 18:10 PM
Reported in: Business
Doha, Dec 3 (UNB) Qatar, which makes huge investment abroad, has agreed to deposit US$1.8 billion in the Bangladesh Bank, governor Dr Atiur Rahman said here on Monday.
I had a meeting with acting governor of Qatar central bank we discussed the matter in details. A memorandum of understanding (MoU) will soon be signed in this regard, Atiur told UNB in Doha after a meeting with Sheikh Fahad Faisal Al-Thani.
The meeting was held at 10 am (local time) at the central bank office of Qatar in Doha.
Dr Atiur said a technical team of Bangladesh Bank will visit Qatar in January to finalise the terms and conditions in this regard.
He said if Qatar deposits the money with the Bangladesh Bank, its reserve will increase and it will have a positive impact on the balance of payments.
An official at the central bank here said the BB will share profits with the Gulf nation from investing the fund abroad if things get finalised.
The BB official said the central bank makes a handsome amount of profit every year from the investments it makes abroad.
The investment of central banks reserve ranges from one day to one month or more. As a result, the rate of interest varies.
This is the first time Bangladesh got such scope of huge investment since 1987. Before 1987, some Middle Eastern countries invested small amounts of money in the central bank of Bangladesh.
