Standard Chartered Bank has arranged the first Green Zero-Coupon Bond in Bangladesh for Sajida Foundation.The proceeds of the bond will be utilised to finance lending to different environmentally friendly and energy efficient initiatives of the micro-credit and SME clients of Sajida Foundation. The total face value of the bond is Tk 1,000 million, according to a press release.The announcement was made at a ceremony arranged at the head office of Bangladesh Securities and Exchange Commission.Bangladesh Securities and Exchange Commission Chairman Professor Shibli Rubayat-Ul-Islam was present as chief guest Also read: SCB’s Covid-time support has helped RMG overcome challenges: Press ReleaseChief Executive Officer of Sajida Foundation Zahida Fizza Kabir, Chief Executive Officer of Standard Chartered Bank, Bangladesh Naser Ezaz Bijoy were present among others.Sajida Foundation will use the proceeds to finance expansion of their microcredit and SME lending portfolio, through investing in new and existing projects with environmental benefits.The issuance of this security will provide Sajida Foundation with an alternative source of fund, compared to a conventional term loan.Standard Chartered was the mandated lead arranger for the transaction.Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam said that Green bonds have the potential to become powerful financial tools in creating positive climate action for Bangladesh, with the growing demand for investments addressing climate risks.“We commend Sajida Foundation and Standard Chartered for leading the way for green finance in the MSME sector, setting a milestone in the development of vibrant green bond market in Bangladesh.”  Also read: SCB, UCEP launch second phase of project to aid Covid-affectedChief Executive Officer of Standard Chartered Bank, Bangladesh Naser Ezaz Bijoy said that Bangladesh has achieved remarkable progress over the last decade. Yet, to achieve its collective ambition of transforming into a high-income country by 2041 while building resilience to climate change and other delta challenges, more of business-as-usual will not be enough.“Green finance holds verdant possibilities for the next phase of our growth journey,” he said.Standard Chartered is leading the debt capital market in Bangladesh as well as an acknowledged global leader in Asia, Africa and Middle East.Since pioneering in 1997, the capital markets unit of Standard Chartered Bank has put together over USD 7.00 Billion equivalent local and foreign currency syndicated loan/debt facilities in Power, Telecommunication, Infrastructure, Food & Beverage, Textile, Service and other key sectors.

Standard Chartered Bank has disbursed USD Denominated Pre-Shipment Loans, to support the Ready-Made Garments industry face the challenges imposed by COVID-19, said a media release on Monday. The unique COVID-19 response finance programme was designed through consultation with renowned buyers, enabling enhanced liquidity support for clients in a challenging environment. The Bank’s clients can avail one-year liquidity support for payment of wages, utilities and other operational expenses under this programme, with a moratorium period of 3 months. More than 20,000 workers received their multiple months’ salaries and festival bonuses on time through these loans, according to the release. READ: Bangladesh remains a compelling growth story, say SCB economists Standard Chartered leveraged its long-standing relationship with many of the top retailers and strong working relationship with the BGMEA and Bangladesh Bank to lead this collaborative effort to stand by the RMG industry with timely solutions. Managing Director of Fakir Fashions Ltd Fakir Kamruzzaman Nahid, a recipient of the facility, said: “The impact of the pandemic on the lives, livelihoods and the overall economy cannot be overstated. At a time like this, the USD based Pre-Shipment Loans introduced by Standard Chartered offered us a chance to reduce our financial expenses as well as cement our longstanding relationship with our buyer.” Chairperson of Dekko Legacy Group M Shahadat Hossain, another beneficiary of the facility, said: “COVID-19 is something which totally left us unprepared, especially during the initial months in 2020. Ours is an industry which deals with tight deadlines, massive workers and unpredictable buyers.” He mentioned that when they received support from the government’s stimulus package, it was a big relief. Standard Chartered Bank Bangladesh Chief Executive Officer Naser Ezaz Bijoy said that Standard Chartered Bank prides itself on the Here for Good promise, and there has never been a more important time to deliver on that promise. READ: SCB, UCEP launch second phase of project to aid Covid-affected “I am extremely grateful for the timely support we got from Bangladesh Bank to offer these low interest USD denominated loans to our exporter clients. As the largest international bank in the country, with our unique global network and our relationship with buyers, we had an important role to play during this crisis,” he said.

The idea of a cashless society is not new. A cashless monetary system not only eases the transactional processes but also helps to reduce the emergence of black money in the market. And one of the important stepping stones to this cashless transaction system is credit cards. The concept of credit cards is not new in Bangladesh. ANZ Grindlays Bank (now Standard Chartered bank) first introduced credit cards to the masses in 1989. The bank was also the first to introduce Visa and Mastercard as well.  Since then, every major bank and NBFI has introduced a credit card system. Read Top FMCG Companies in Bangladesh: At a Glance A simple look in the first quarter of the 2020-21 fiscal years shows the steady growth of credit card adoption and usage. Even in the pandemic, banks have seen transaction levels to be almost similar to the pre-pandemic level. This goes a long way to show that more and more expenditure opportunities are opening up for the cardholders and people are becoming more and more inclined to use them. However, it is not all smooth sailing. Credit cards are, after all, a loan system issued against your card and account and you will need to pay your debt that is your expenditure amount back. Failing to meet deadlines will land you in default and harm your creditworthiness and CBI value. Not to mention, the compounding interest on your expenditure. Read Best Personal Loans in Bangladesh to Make Your Dream Come True But everything's aside, credit cards are still a good option to make your transactions easier. So, which credit card should you get? Let us take a deeper look into the individual offerings against the cards to see what facilities the clients are getting. Top Credit Cards in Bangladesh The City Bank Amex Card City Bank is one of the few banks that offer Amex Cards to its clients. The Visa and Mastercard may be the most popular transaction routes but the Amex card also has its certain niche in Bangladesh for local and international transactions. The Regular APR stands at 27% and the grace period ranges up to 45 days. The renewal fee is slightly higher ranging from 1500 BDT to 25000 BDT depending on card facilities. There is a 5% outstanding fee applicable and there are no installment facilities available with this card. Also read: IFAD names new country director for Bangladesh Standard Chartered Bank Credit Card As one of the oldest and an international bank in our country, the Standard Chartered bank is much reputed. The bank offers a range of credit cards depending on the creditworthiness of the client. This card varies in limits and other facilities. However, the standard regular APR is 26% across cards.  The grace period is 45 days as well and the maintenance and renewal fee ranges from 1500 BDT to 10000 BDT. Standard Chartered provides an installment facility which is a bonus. You can also get an additional supplementary card which is subject to charges. Read Fintech MFS: Mobile Wallet for Easy Money Transfer, Payment & Savings in Bangladesh BRAC Bank Credit Card BRAC Bank is another pioneering bank in Bangladesh. The main idea behind BRAC bank was to increase the inclusiveness in the banking sector by making banking more accessible to the rural as well as economically drawn part of our society. Over the years, the bank has expanded its horizon of service and has introduced several cards. The renewal fee for the cards varies from 1500 BDT to 25000 BDT. However, you can waive this fee by making at least 18 transactions a year. The APR stands at 27% and the grace period is 45 days. You also get installment facilities and the supplementary card with this one is free of charge. Read Mobile Insurance Offers in Bangladesh Can Save Lives Eastern Bank Credit Card EBL was a pioneer of mobile banking in Bangladesh and to this day, they have the most robust infrastructure when it comes to mobile banking. They are also equally adept with their card services. One of the more lucrative aspects of EBL cards has to be the privilege of using EBL SkyLounge while traveling abroad. That alone might incline a client towards EBL. You’re getting a standard APR rate of 27%, a grace period of 45 days, and installment facilities. You can also avail of their supplementary card subject to additional charges. Read Best Home Loans in Bangladesh to Build Your Dream Nest DBBL Credit Card Bangladesh’s first joint venture bank DBBL has been the pillar of ATM service in our country. They have made banking more accessible through agent points and ATMs even in remote locations. Their credit cards also offer lucrative facilities making them one of the top credit issuers on the list. The APR is significantly low at 15% and in addition to that, you get a 50-days grace period. Depending on cards, you will also get waivers on the renewal fee. However, there are no installment facilities but you do get a supplementary card for free. Read Best Car Loans in Bangladesh to Grab Your Dream Car Verdict So far we have discussed the leading credit cards in Bangladesh. It is clear that each bank has services that they are excelling in. Standard Chartered will provide you with a unified experience, DBBL will give you low APR and with EBL and City Amex you are getting a host of transactional benefits including lounge access. However, the issuance of cards isn't the only factor that determines the performance of cards. In fact, it all comes down to personal preferences and your expectations from the bank itself. Of course, other financial institutions are working alongside to provide better services. As long as people aren’t actively using the cards, the banks don’t stand to gain anything. In order to get the most out of your credit card facilities, you as a client need to decide what the purpose of your credit card is. The credit card landscape of our country is expanding at a rapid pace and if you’re willing and your means support, you should avail the services as well.  Read Zero Investment Business Ideas to Try Amidst the Pandemic

Standard Chartered Bank has executed the country’s first blockchain transaction by issuing a Letter of Credit (LC) for Viyellatex Ltd over the Contour blockchain network.

Dhaka, Apr 12 (UNB) - Standard Chartered Bank has recently signed a memorandum of understanding (MoU) with Hyundai Motors Bangladesh Ltd (HMBL), Pacific Motors Ltd and Millennium Ssang Yong Motors Ltd.