SK Sur Chowdhury, Deputy Governor, Bangladesh Bank, Dr. Arif Dowla, Managing Director, ACI Limited

and Ali Reza Iftekhar, Managing Director and CEO , Eastern Bank Ltd seen, among others,

at the Commercial Paper deal closing ceremony at The Westin, Dhaka recently.


Eastern Bank Ltd (EBL) has launched Commercial Paper (CP), a widely used money market financial instrument across the world, of BDT 500 million for ACI Ltd for their high end subscribers. The CPs are covered by bank guarantee. The move initiated a new chapter in the history of the financial market of Bangladesh and Vanguard proudly participated in the process. 

To celebrate this remarkable deal, a ceremony was organised recently at The Westin, Dhaka. SK Sur Chowdhury, Deputy Governor, Bangladesh Bank was present as the Chief Guest. Dr. Arif Dowla, Managing Director of ACI Ltd., Ali Reza Iftekhar, Managing Director and CEO of EBL, and on behalf of the subscribers A.K.M. Shahidul Haque, Managing Director and CEO of Midland Bank Ltd., Imran Karim, Managing Director of Confidence Steel Ltd., Waqar A. Chowdhury, Managing Director of Vanguard Asset Management Ltd., Mirza Gholam Erfan, Director, Techno Venture Ltd. and other were present. 

The Deputy Governor appreciated the efforts of EBL and ACI for being the pioneer to bring CP in the market. He termed CP as an important instrument for the growth and development of financial markets. SK Sur Chowdhury hoped this good initiative will undoubtedly make the stakeholders think and strive for the betterment of the financial market and also make them interested to invest in such alternatives. Ali Reza Iftekhar said that EBL has always been in the forefront of product development in the market and it will continue to do so.