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Inter-bank transactions on foreign exchange better |
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August 15, 2000
Dhaka (UNB)- Inter-bank transactions on the foreign exchange market were smooth in the just-out fiscal year showing an increasing upswing. The transactions totaled 24.3 billion US dollars in 1999-2000 against 12.4 billion in the preceding fiscal year, Bangladesh Foreign Exchange Dealers Association (BAFEDA) disclosed. Reviewing the position of inter-bank foreign exchange market in a meeting yesterday (Monday), the Association said the transactions in the last fiscal almost doubled the amount transacted in the previous financial year. Presided over by Sonali Bank managing director Enamul Haq Chowdhury, who is also chairman of the association of the foreign-exchange dealer banks, the meeting also expressed deep sorrow at the death of Mahbubur Rahman Khan, a renowned banker and the founder chairman of BAFEDA. Chowdhury was re-elected chairman of the Association for next one year, while Mercantile Bank managing director Taheruddin elected vice chairman and Uttara Bank managing director M Aminuzzaman treasurer. All the members stood in silence for one minute to show respect to the deceased and prayed for eternal peace of the departed soul. Prime Bank managing director Kazi Abdul Mazid, Pubali Bank managing director Qamrul Huda and Arab Bangladesh Bank managing director CM Koyes Sami, Islami Bank executive president M Kamaluddin Chowdhury, Standard Chartered Bank chief executive Sethu Venkateswaran and Citibank NA chief executive officer David E Rees were elected members of the BAFEDA’s executive committee. |