MDs of 30 banks to embark on US trip this month

MDs of 30 banks to embark on US trip this month

The managing directors (MDs) of around 30 state-run and private banks are set to travel to the United States to participate in a campaign to attract overseas deposits and an international conference.

Bangladesh Bank (BB) deputy governor Kazi Saidur Rahman is also supposed to join the group of MDs. 

During the trip, the MDs  will encourage the expatriates to deposit dollars into offshore banking accounts under the local banks. Besides, they are supposed to attend an anti-money laundering event. 

A programme is scheduled to take place at a hotel in New York on 24 May, to promote offshore banking fixed deposits for expatriates.

Muhammad Imran, the Bangladesh ambassador to the US, will join the programme as the chief guest, while special guests will include Abdul Muhit, permanent representative to the United Nations; Saidur Rahman, the deputy governor; and Nazmul Huda, consulate general of Bangladesh in New York.

Among other speakers will be MDs from some leading banks, including Selim RF Hussain from BRAC Bank, Abul Kashem Mohammed Shirin from Dutch-Bangla Bank, Sohail RK Hussain from Bank Asia, Murshedul Kabir from Agrani Bank, and Mashrur Arefin from City Bank. The banks concerned will bear costs of the programme. 

Another 25 MDs are scheduled to join an international conference for banks, organised by the US department of justice. The necessary paperwork has already been completed at the Bangladesh Bank.  

It, however, raised questions within the banking sector, particularly due to the ongoing dollar crisis in Bangladesh.

As a response to the crisis, banks have intensified their focus on offshore banking to increase the dollar supply within the banking sector and are conducting various promotional campaigns.