SAM

Published:
2019-10-01 20:02:06 BdST

EBL opens representative office in China


FT ONLINE

Eastern Bank Limited (EBL) has opened its representative office in China’s Guangzhou province recently. With this, EBL has become the first Bangladeshi financial institution to begin its operations in China, says a press release received today (Tuesday).

AHM Jahangir, economic counsellor of Bangladesh Embassy to China, Md Showkat Ali Chowdhury, chairman, Meah Mohammed Abdur Rahim, director, Ali Reza Iftekhar, managing director and CEO of EBL inaugurated the China operation by cutting a ribbon at a ceremony on Sunday, the release said.

The event was also attended by representatives from leading Chinese banks such as Bank of China, China Construction Bank, top Chinese corporates, PWC, and Bangladeshi companies having business operations in China.

Mr Jahangir expressed the hope that the EBL representative office in Guangzhou will be instrumental to tap more business opportunities in China and contribute further to the growing China-Bangladesh bilateral trade.

Mr Chowdhury said, "With the beginning of operations in China, EBL is expanding its footprint in Southeast Asia."

In his speech, Mr Iftekhar informed that EBL has partnered with China Union Pay and opened a China Desk in Dhaka to cater to China-bound business. The bank has also opened an RMB account (Chinese Currency Nostro account with Bank of China) for LC business in RMB.

EBL has been running two other overseas offices in Hong Kong and Myanmar, the official noted.

Hassan O Rashid, additional managing director, Md Obaidul Islam, head of International Business and Offshore Banking Division of the bank, Sohail Murshed, chief executive officer, EBL Finance (HK) Limited, and Ziadul Huq, chief representative officer, EBL Guangzhou representative office and Ziaul Karim, head of Communications and External Affairs, among others, were present at the inaugural ceremony.

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