Dhaka, Bangladesh (BBN)– NCC Bank Limited is going to float its first mutual fund worth BDT 1.0 billion in the capital market by the name ‘NCCBL Mutual Fund-1’.

A trust deed agreement has recently been signed between NCC Bank Limited and Bangladesh General Insurance Company Limited (BGIC) in this connection.

Managing Director and Chief Executive Officer (CEO) of NCC Bank Limited Mohammed Nurul Amin and Managing Director of BGIC AK Azizul Haque Chaudhuri signed the agreement on behalf of their respective organizations.

Under the agreement, the insurance company will act as the trustee of the forthcoming issue of ‘NCCBL Mutual fund-1’. LR Global Asset Management Company Bangladesh Limited will act as the asset manager of the fund.

BBN/SSR/AD-04Nov10-10:06 am (BST)