Dhaka, Bangladesh (BBN) - The Bangladesh Bank, the country’s central bank, has been elected as the chair for 44th board of directors of Asian Clearing Union (ACU) to arrange the next board meeting in the capital Dhaka in 2015.
The decision was taken at its 43rd board meeting held at Kish Island in Iran on Friday, according to a massage received in Dhaka.
The ACU is an arrangement involving Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan, Sri Lanka and the Maldives, through which intraregional transactions among the participating central banks are settled on a multilateral basis.
The union started its operation in November 1975 to boost trade among the member countries. Bangladesh and Myanmar joined the union as the sixth and seventh members in 1976 and 1977 respectively. Bhutan joined the ACU in December 1999 and the Maldives in January 2010.
BBN/SSR/AD-23May14-4:56 pm (BST)