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Roundtable Discussion on ‘Using US Dollar in Foreign Trade: Is there any Alternative Option?’ held at BIBM


Written by Manager

Sunday 27th October 2019

Press Release
Dhaka, 24 October, 2019:
A half day long roundtable discussion was held on ‘Using US Dollar in Foreign Trade: Is there any Alternative Option?’ at the Bangladesh Institute of Bank Management (BIBM) on 24 October, 2019, in its auditorium. Md. Nazimuddin, Executive Director of Bangladesh Bank and Director General of BIBM Chaired the Program. 
S.M. Moniruzzaman,  Chairman of BIBM Executive Committee and Deputy Governor of Bangladesh Bank was present in the roundtable discussion as the chief guest. Dr. Prashanta Kumar Banerjee, Professor  & Director (R, D&C) of BIBM delivered the welcome speech.
A paper titled ‘Using US Dollar in Foreign Trade: Is there any Alternative Option?’ was presented in the roundtable discussion by  Dr. Shah Md. Ahsan Habib, Professor and Director (Training) of BIBM.  Other members of the team are Tanweer Mehdee, Assistant Professor of BIBM; Antara Zareen, Assistant Professor of BIBM; Tofayel Ahmed, Assistant Professor of BIBM; Mohammad Anisur Rahman, Deputy General Manager of Bangladesh Bank; A.S.M. Shahabuddin, Deputy General Manager of Bangladesh Bank; Md. Khairul Alam Chowdhury, First Vice President of United Commercial Bank Ltd. & Mehdi Zaman, Senior Executive Vice President of Eastern Bank Ltd.

A good number of participants including senior executives from Banks and NBFIs, academicians, media representatives, faculty members of BIBM took part in the roundtable discussion. 

According to study, extensive reliance on other convertible currencies may not be a wise options, however, home currency use in certain trade transactions with selected countries may help reducing transaction costs.
Deputy Governor said, around 89 percent import transactions were conducted by using USD in 2019 and the trend was around 85 percent during last decade. Around 98 percent export transactions were conducted by using USD in 2019 and the trend was around 97 percent during last decade.
Bangladesh Bank has allowed Authorized Dealers to do trade services in freely convertible foreign currencies. Despite dependence on USD for trade and other cross border transactions, as observed in the paper,  in the context of Bangladesh, we are also  not different from most of the other global economies, he added.
Professor  Dr. Barkat-e-Khuda, Dr. Muzaffer Ahmed Chair Professor of BIBM & Former  Professor of Dhaka University; Yasin Ali, Former Supernumerary Professor of BIBM spoke among others at the event.
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Members of the Institute

  • Bangladesh Bank
  • Sonali Bank Limited
  • Janata Bank Limited
  • Agrani Bank Limited
  • Rupali Bank Limited
  • Pubali Bank Limited
  • Uttara Bank Limited
  • Bangladesh Krishi Bank
  • Bangladesh Development Bank Limited
  • AB Bank Limited
  • National Bank Limited
  • Eastern Bank Limited
  • United Commercial Bank Limited
  • Islami Bank Bangladesh Limited
  • IFIC Bank Limited
  • Rajshahi Krishi Unnayan Bank
  • Standard Chartered Bank
  • Dutch-Bangla Bank Limited
  • Mercantile Bank Limited
  • ONE Bank Limited
  • Al-Arafah Islami Bank Limited
  • National Credit and Commerce Bank Limited
  • Trust Bank Limited
  • Southeast Bank Limited
  • Social Islami Bank Limited
  • The Hongkong and Shanghai Banking Corporation Limited
  • Standard Bank Limited
  • Export Import Bank of Bangladesh Limited
  • Mutual Trust Bank Limited
  • BASIC Bank Limited
  • Jamuna Bank Limited
  • Bank Asia Limited
  • First Security Islami Bank Limited
  • The City Bank Limited
  • Prime Bank Limited
  • Dhaka Bank Limited
  • Investment Corporation of Bangladesh
  • Bangladesh Commerce Bank Limited
  • BRAC Bank Limited
  • The Premier Bank Limited
  • Shahjalal Islami Bank Limited
  • State Bank of India
  • Habib Bank Limited
  • Commercial Bank of Ceylon PLC
  • Bank Alfalah Limited
  • Citibank, N.A.
  • National Bank of Pakistan
  • South Bangla Agriculture and Commerce  Bank Limited
  • Meghna Bank Limited
  • Woori Bank
  • NRB Commercial Bank Limited
  • Union Bank Limited
  • The Farmers Bank Limited
  • NRB Bank Limited
  • Shimanto Bank Limited
  • Bangladesh House Building Finance Corporation
  • Non Member NBFI
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