Dhaka, Bangladesh (BBN) - Two state-owned commercial banks (SCBs) –Sonali and Janata -- in their board meeting on Tuesday approved BDT 2.0 billion each for the proposed BDT 50 billion Bangladesh Fund (BF).
Earlier, the Investment Corporation of Bangladesh (ICB), the major sponsor of the BF, approved BDT 5.0 billion for the Fund.
In the backdrop of severe liquidity shortfall in the stock market, four SCBs - Sonali Bank, Janata Bank, Agrani and Rupali and four state-owned financial institutions-ICB, Bangladesh Development Bank, Sadharan Bima Corporation and Jiban Bima Corporation took decision to form a special fund of BDT 50 billion to give liquidity support in the country's cash-hungry stock market.
BBN/SI/AD-16Mar11-11:58 am (BST)