The Bangladesh Securities and Exchange Commission (BSEC) Wednesday approved bonds of NRBC Bank worth Tk500 crore. The decision came at 840th meeting of the commission held in Dhaka, BSEC Executive Director and spokesperson Mohammad Rezaul Karim told UNB. NRBC would raise Tk500 crore by issuing non-convertible, unsecured, fully redeemable, floating rate subordinated bonds. The bonds would be issued through private placement. Read: NRBC Bank conferred with Krishi Padak The face value of each bond is Tk1 crore, and the coupon rate is 7 to 9 percent. With the bond proceeds, the lender would strengthen its Tier-2 capital base. The trustee of the bonds is City Bank Capital Resources, and UCB Investment is the lead arranger, Rezaul said.

NRBC Bank and OXFAM, Bangladesh will work together for welfare of the marginal people through micro credit, creating cashless village facility and  online marketplace for small entrepreneurs. NRBC Bank and OXFAM signed a memorandum of understanding (MoU) in this regard on Monday. Golam Awlia, Managing Director and CEO of NRBC Bank and Ashish Damle, Country Director, OXFAM, Bangladesh signed the MoU on behalf of their respective sides. Also read: WFP, Oxfam, Green Delta Insurance join hands to protect labourers The objective of the project is to alleviate poverty and injustice and create scope for them up with fourth industrial revelation by ensuring their access to financial and technological ecosystems. Kazi Md. Talha, Additional Managing Director, Kabir Ahmed, DMD, Harunur Rashid, CFO, Kazi Safayet Kabir, Head of FI, Mohammad Soeb Iftekhar, head of economic inclusion & Justice, Sonia Tahera Kabir, business development manager of OXFAM, Bangladesh were among others, present at the function. Also read: ACC signs MoU with Oxfam to strengthen anti-graft activities

NRBC Bank Limited launched its microfinance-based partnership banking services with the SKS Foundation to provide banking services to the marginalized people of 19 locations in different districts of the country. SM Parvez Tamal, chairman of the bank, inaugurated 19 sub-branches. The partnership-based 19 sub-branches are Faridpur, Dokkhin Boailmari, Sanalpara, Chak Ramanandapur and Atgharia in Pabna, Rajarampu in Chapainawabganj, Sreekhola,Talgachi, Parkola, Shernagar, Brahmangram, Chandaikona, Nimgachi, Hat Pangashi in Sirajganj, Godarpara, Ghoradhap, Sonatola of Bagura, Rajabirat in Gaibandha and Hapania in Naogaon. Besides, Shariatpur Sadar, Kalshi in Mirpur-12 of Dhaka, Duragapur in Netrokona and Nikli in Kishoreganj sub-branch also started their banking services.