Overview of Financial system of Bangladesh

The financial system of Bangladesh is comprised of three broad fragmented sectors:

1. Formal Sector,
2. Semi-Formal Sector,
3. Informal Sector.

The sectors have been categorized in accordance with their degree of regulation.
The formal sector includes all regulated institutions like Banks, Non-Bank Financial Institutions (FIs), Insurance Companies, Capital Market Intermediaries like Brokerage Houses, Merchant Banks etc.; Micro Finance Institutions (MFIs).
The semi formal sector includes those institutions which are regulated otherwise but do not fall under the jurisdiction of Central Bank, Insurance Authority, Securities and Exchange Commission or any other enacted financial regulator. This sector is mainly represented by Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc., Non Governmental Organizations (NGOs and discrete government programs.
The informal sector includes private intermediaries which are completely unregulated.

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Financial Market in Bangladesh

The financial market in Bangladesh is mainly of following types:

1. Money Market: The money market comprises banks and financial institutions as intermediaries, 20 of them are primary dealers in treasury securities. Interbank clean and repo based lending, BB’s repo, reverse repo auctions, BB bills auctions, treasury bills auctions are primary operations in the money market, there is also active secondary trade in treasury bills (upto 1 year maturity).
2. Taka Treasury Bond market: The Taka treasury bond market consists of primary issues of treasury bonds of different maturities (2, 5, 10, 15 and 20 years), and secondary trade therein through primary dealers. 20 banks performing as Primary Dealers participate directly in the primary auctions. Other bank and non bank investors can participate in primary auctions and in secondary trading through their nominated Primary Dealers. Non-resident individual and institutional investors can also participate in primary and secondary market, but only in treasury bonds.
   Monthly data on primary and secondary trade volumes in treasury bills and bonds and data on outstanding volume of treasury bonds held by non residents can be accessed at Monthly data of Treasury Bills & Bonds .
3. Capital market:The primary issues and secondary trading of equity securities of capital market take place through two (02) stock exchanges-Dhaka Stock Exchange and Chittagong Stock Exchange. The instruments in these exchanges are equity securities (shares), debentures and corporate bonds. The capital market is regulated by Bangladesh Securities and Exchange Commission (BSEC).
4. Foreign Exchange Market:Towards liberalization of foreign exchange transactions, a number of measures were adopted since 1990s. Bangladeshi currency, the taka, was declared convertible on current account transactions (as on 24 March 1994), in terms of Article VIII of IMF Article of Agreement (1994). As Taka is not convertible in capital account, resident owned capital is not freely transferable abroad. Repatriation of profits or disinvestment proceeds on non-resident FDI and portfolio investment inflows are permitted freely. Direct investments of non-residents in the industrial sector and portfolio investments of non-residents through stock exchanges are repatriable abroad, as also are capital gains and profits/dividends thereon. Investment abroad of resident-owned capital is subject to prior Bangladesh Bank approval, which is allowed only sparingly. Bangladesh adopted Floating Exchange Rate regime since 31 May 2003. Under the regime, BB does not interfere in the determination of exchange rate, but operates the monetary policy prudently for minimizing extreme swings in exchange rate to avoid adverse repercussion on the domestic economy. The exchange rate is being determined in the market on the basis of market demand and supply forces of the respective currencies. In the forex market banks are free to buy and sale foreign currency in the spot and also in the forward markets. However, to avoid any unusual volatility in the exchange rate, Bangladesh Bank, the regulator of foreign exchange market remains vigilant over the developments in the foreign exchange market and intervenes by buying and selling foreign currencies whenever it deems necessary to maintain stability in the foreign exchange market.

Payment System of Bangladesh

A country´s payment system is the channel through which the central bank passes financial transaction part of its monetary policy. Central banks’ functions in the area of payment systems are very closely related to their functions in the areas of monetary policy and financial stability. Monetary stability supports sound investment and sustainable economic growth, which in turn are conducive to financial stability and support the smooth operation of payment systems.
Well-functioning payment systems ensure the efficient and safe execution of monetary policy operations and facilitate the smooth and homogenous transmission of monetary impulses. The smooth functioning of payment systems is a precondition for users’ confidence in these systems and, ultimately, public confidence in the currency. Central banks would extend their concern toward the safe and efficient use of payment instruments with a view to maintain public confidence in the currency and ensure its smooth circulation. Central banks have a strong interest in promoting safety and improving efficiency in payment systems as part of their overall concern with financial stability. The importance that central banks attach to the stability of financial markets derives from the possibility that financial institutions’ actual or perceived inability to settle their obligations in distressed market conditions could contribute to a loss of confidence and could also have a negative effect on the stability of financial markets and the economy as a whole.
In systemically important payment systems, disruption caused by one participant in the infrastructure can cause disruptions for other participants, propagate financial disturbances and possibly even amplify such disturbances by inducing chain reactions that might contaminate the whole financial system. In such systems, central banks aim mainly to:

• prevent systemic risk, thereby maintaining financial stability;
• promote the efficiency of payment systems and instruments;
• ensure the security of and public trust in the currency as the settlement asset; and
• safeguard the transmission channel for monetary policy.

According to the Section 7A (e) of the Bangladesh Bank Order, 1972; one of the main functions of the Bangladesh Bank is – “to promote, regulate and ensure a secure and efficient payment system” In fulfilling this mandate and considering the importance, Payment Systems Department (PSD) has been formed on 26 July 2012, prior to this it was a section under Department of Currency Management  and Payment Systems.

Banks and FIs in Bangladesh

Banks
After the independence, banking industry in Bangladesh started its journey with 6 Nationalized commercialized banks, 2 State owned Specialized banks and 3 Foreign Banks. In the 1980’s banking industry achieved significant expansion with the entrance of private banks. Now, banks in Bangladesh are primarily of two types:

• Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended upto 2013) are termed as Scheduled Banks.
• Non-Scheduled Banks: The banks which are established for special and definite objective and operate under the acts that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These banks cannot perform all functions of scheduled banks.

There are 56 scheduled banks in Bangladesh who operate under full control and supervision of Bangladesh Bank which is empowered to do so through Bangladesh Bank Order, 1972 and Bank Company Act, 1991. Scheduled Banks are classified into following types:

• State Owned Commercial Banks (SOCBs): There are 6 SOCBs which are fully or majorly owned by the Government of Bangladesh.
• Specialized Banks (SDBs): 2 specialized banks are now operating which were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh.
• Private Commercial Banks (PCBs): There are 39 private commercial banks which are majorly owned by the private entities. PCBs can be categorized into two groups:
• Conventional PCBs: 31 conventional PCBs are now operating in the industry. They perform the banking functions in conventional fashion i.e interest based operations.
• Islami Shariah based PCBs: There are 8 Islami Shariah based PCBs in Bangladesh and they execute banking activities according to Islami Shariah based principles i.e. Profit-Loss Sharing (PLS) mode.
• Foreign Commercial Banks (FCBs): 9 FCBs are operating in Bangladesh as the branches of the banks which are incorporated in abroad.

There are now 4 non-scheduled banks in Bangladesh which are:

• Ansar VDP Unnayan Bank,
• Karmashangosthan Bank,
• Probashi Kollyan Bank,
• Jubilee Bank

FIs
Non Bank Financial Institutions (FIs) are those types of financial institutions which are regulated under Financial Institution Act, 1993 and controlled by Bangladesh Bank. Now, 33 FIs are operating in Bangladesh while the maiden one was established in 1981. Out of the total, 2 is fully government owned, 1 is the subsidiary of a SOCB, 15 were initiated by private domestic initiative and 15 were initiated by joint venture initiative. Major sources of funds of FIs are Term Deposit (at least three months tenure), Credit Facility from Banks and other FIs, Call Money as well as Bond and Securitization.
The major difference between banks and FIs are as follows:

• FIs cannot issue cheques, pay-orders or demand drafts.
• FIs cannot receive demand deposits,
• FIs cannot be involved in foreign exchange financing,
• FIs can conduct their business operations with diversified financing modes like syndicated financing, bridge financing, lease financing, securitization instruments, private placement of equity etc.

Regulators of the Financial System

Central Bank
Bangladesh Bank acts as the Central Bank of Bangladesh which was established on December 16, 1971 through the enactment of Bangladesh Bank Order 1972- President’s Order No. 127 of 1972 (Amended in 2003).
The general superintendence and direction of the affairs and business of BB have been entrusted to a 9 members’ Board of Directors which is headed by the Governor who is the Chief Executive Officer of this institution as well. BB has 45 departments and 10 branch offices.
In Strategic Plan (2010-2014), the vision of BB has been stated as, “To develop continually as a forward looking central bank with competent and committed professionals of high ethical standards, conducting monetary management and financial sector supervision to maintain price stability and financial system robustness, supporting rapid broad based inclusive economic growth, employment generation and poverty eradication in Bangladesh”.
The main functions of BB are (Section 7A of BB Order, 1972) –

1. to formulate and implement monetary policy;
2. to formulate and implement intervention policies in the foreign exchange market;
3. to give advice to the Government on the interaction of monetary policy with fiscal and exchange rate policy, on the impact of various policy measures on the economy and to propose legislative measures it considers necessary or appropriate to attain its objectives and perform its functions;
4. to hold and manage the official foreign reserves of Bangladesh;
5. to promote, regulate and ensure a secure and efficient payment system, including the issue of bank notes;
6. to regulate and supervise banking companies and financial institutions.

Core Policies of Central Bank
Monetary policy
The main objectives of monetary policy of Bangladesh Bank are:

• Price stability both internal & external
• Sustainable growth & development
• High employment
• Economic and efficient use of resources
• Stability of financial & payment system

Bangladesh Bank declares the monetary policy by issuing Monetary Policy Statement (MPS) twice (January and July) in a year. The tools and instruments for implementation of monetary policy in Bangladesh are Bank Rate, Open Market Operations (OMO), Repurchase agreements (Repo) & Reverse Repo, Statutory Reserve Requirements (SLR & CRR).
Reserve Management Strategy
Bangladesh Bank maintains the foreign exchange reserve of the country in different currencies to minimize the risk emerging from widespread fluctuation in exchange rate of major currencies and very irregular movement in interest rates in the global money market. BB has established Nostro account arrangements with different Central Banks. Funds accumulated in these accounts are invested in Treasury bills, repos and other government papers in the respective currencies. It also makes investment in the form of short term deposits with different high rated and reputed commercial banks and purchase of high rated sovereign/supranational/corporate bonds. A separate department of BB performs the operational functions regarding investment which is guided by investment policy set by the BB’s Investment Committee headed by a Deputy Governor. The underlying principle of the investment policy is to ensure the optimum return on investment with minimum market risk.
Interest Rate Policy
Under the Financial sector reform program, a flexible interest policy was formulated. According to that, banks are free to charge/fix their deposit (Bank /Financial Institutes) and Lending (Bank /Financial Institutes) rates other than Export Credit.  At present, except Pre-shipment export credit and agricultural lending, there is no interest rate cap on lending for banks. Yet, banks can differentiate interest rate up to 3% considering comparative risk elements involved among borrowers in same lending category. With progressive deregulation of interest rates, banks have been advised to announce the mid-rate of the limit (if any) for different sectors and the banks may change interest 1.5% more or less than the announced mid-rate on the basis of the comparative credit risk. Banks upload their deposit and lending interest rate in their respective website.
Capital Adequacy for Banks and FIs
Basel-III has been introduced with a view to strenghening the capital base of banks with the goal of promoting a more resilient banking sector. The Basel III regulation will be adopted in a phased manner starting from the January 2015, with full implementation of capital ratios from the beginning of 2019. Now, scheduled banks in Bangladesh are required to maintain minimum capital of Taka 4 billion or Capital to Risk Weighted Assets Ratio (CRAR) 10%, whichever is higher. In addition to minimum CRAR, Capital Conservation Buffer (CCB) of 2.5% of the total RWA is being introduced which will be maintained in the form of CET1. Besides the minimum requirement all banks have a process for assessing overall capital adequacy in relation to their risk profile and a strategy for maintaining capital at an adequate level.
For FIs, full implementation of Basel-II has been started in January 01, 2012 (Prudential Guidelines on Capital Adequacy and Market Discipline (CAMD) for Financial Institutions). Now, FIs in Bangladesh are required to maintain Tk. 1 billion or 10% of Total Risk Weighted Assets as capital, whichever is higher.
Deposit Insurance
The deposit insurance scheme (DIS) was introduced in Bangladesh in August 1984 to act as a safety net for the depositors. All the scheduled banks Bangladesh are the member of this scheme Bank Deposit Insurance Act 2000. The purpose of DIS is to help to increase market discipline, reduce moral hazard in the financial sector and provide safety nets at the minimum cost to the public in the event of bank failure. A Deposit Insurance Trust Fund (DITF) has also been created for providing limited protection (not exceeding Taka 0.01 million) to a small depositor in case of winding up of any bank. The Board of Directors of BB is the Trustee Board for the DITF. BB has adopted a system of risk based deposit insurance premium rates applicable for all scheduled banks effective from January – June 2007. According to new instruction regarding premium rates, problem banks are required to pay 0.09 percent and private banks other than the problem banks and state owned commercial banks are required to pay 0.07 percent where the percent coverage of the deposits is taka one hundred thousand per depositor per bank. With this end in view, BB has already advised the banks for bringing DIS into the notice of the public through displaying the same in their display board.
Insurance Authority
Insurance Development and Regulatory Authority (IDRA) was instituted on January 26, 2011 as the regulator of insurance industry being empowered by Insurance Development and Regulatory Act, 2010 by replacing its predecessor, Chief Controller of Insurance. This institution is operated under Ministry of Finance and a 4 member executive body headed by Chairman is responsible for its general supervision and direction of business.
IDRA has been established to make the insurance industry as the premier financial service provider in the country by structuring on an efficient corporate environment, by securing embryonic aspiration of society and by penetrating deep into all segments for high economic growth. The mission of IDRA is to protect the interest of the policy holders and other stakeholders under insurance policy, supervise and regulate the insurance industry effectively, ensure orderly and systematic growth of the insurance industry and for matters connected therewith or incidental thereto.
Regulator of Capital Market Intermediaries
Securities and Exchange Commission (SEC) performs the functions to regulate the capital market intermediaries and issuance of capital and financial instruments by public limited companies. It was established on June 8, 1993 under the Securities and Exchange Commission Act, 1993. A 5 member commission headed by a Chairman has the overall responsibility to administer securities legislation and the Commission is attached to the Ministry of Finance.
The mission of SEC is to protect the interests of securities investors, to develop and maintain fair, transparent and efficient securities markets and to ensure proper issuance of securities and compliance with securities laws. The main functions of SEC are:

• Regulating the business of the Stock Exchanges or any other securities market.
• Registering and regulating the business of stock-brokers, sub-brokers, share transfer agents, merchant bankers and managers of   issues, trustee of trust deeds, registrar of an issue, underwriters, portfolio managers, investment advisers and other intermediaries in the securities market.
• Registering, monitoring and regulating of collective investment scheme including all forms of mutual funds.
• Monitoring and regulating all authorized self regulatory organizations in the securities market.
• Prohibiting fraudulent and unfair trade practices in any securities market.
• Promoting investors’ education and providing training for intermediaries of the securities market.
• Prohibiting insider trading in securities.
• Regulating the substantial acquisition of shares and take-over of companies.
• Undertaking investigation and inspection, inquiries and audit of any issuer or dealer of securities, the Stock Exchanges and   intermediaries and any self regulatory organization in the securities market.
• Conducting research and publishing information.

Regulator of Micro Finance Institutions
To bring Non-government Microfinance Institutions (NGO-MFIs) under a regulatory framework, the Government of Bangladesh enacted “Microcredit Regulatory Authority Act, 2006’” (Act no. 32 of 2006) which came into effect from August 27, 2006. Under this Act, the Government established Microcredit Regulatory Authority (MRA) with a view to ensuring transparency and accountability of microcredit activities of the NGO-MFIs in the country. The Authority is empowered and responsible to implement the said act and to bring the microcredit sector of the country under a full-fledged regulatory framework.
MRA’s mission is to ensure transparency and accountability of microfinance operations of NGO-MFIs as well as foster sustainable growth of this sector. In order to achieve its mission, MRA has set itself the task to attain the following goals:

• To formulate as well as implement the policies to ensure good governance and transparent financial systems of MFIs.
• To conduct in-depth research on critical microfinance issues and provide policy inputs to the government consistent with the national strategy for poverty eradication.
• To provide training of NGO-MFIs and linking them with the broader financial market to facilitate sustainable resources and efficient management.
• To assist the government to build up an inclusive financial market for economic development of the country.
• To identify the priorities in the microfinance sector for policy guidance and dissemination of information to attain the MRA’s social responsibility.

According to the Act, the MRA will be responsible for the three primary functions that will need to be carried out, namely:

• Licensing of MFIs with explicit legal powers;
• Supervision of MFIs to ensure that they continue to comply with the licensing requirements; and
• Enforcement of sanctions in the event of any MFI failing to meet the licensing and ongoing supervisory requirements.

Bangladesh Bank

Establishment
Bangladesh Bank, the central bank and apex regulatory body for the country’s monetary and financial system, was established in Dhaka as a body corporate vide the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972) with effect from 16th December, 1971. At present it has ten offices located at Motijheel, Sadarghat, Chittagong, Khulna, Bogra, Rajshahi, Sylhet, Barisal, Rangpur and Mymensingh in Bangladesh; total manpower stood at 5807 (officials 3981, subordinate staff 1826) as on March 31, 2015
Functions
BB performs all the core functions of a typical monetary and financial sector regulator, and a number of other non core functions. The major functional areas include

• Formulation and implementation of monetary and credit policies.
• Regulation and supervision of banks and non-bank financial institutions, promotion and development of domestic financial markets.
• Management of the country’s international reserves.
• Issuance of currency notes.
• Regulation and supervision of the payment system.
• Acting as banker to the government .
• Money Laundering Prevention.
• Collection and furnishing of credit information.
• Implementation of the Foreign exchange regulation Act.
• Managing a Deposit Insurance Scheme

Scheduled Banks (Deposit Rate)

ANNOUNCED INTEREST RATE CHART Of The SCHEDULED BANKS (DEPOSIT RATE) (PERCENTAGE PER ANNUM) Name of the Banks Savings Deposit Special Notice Deposit (SND) Deposit Fixed Deposit < 1.00 crore 1.00 crore but <25.00 crore 25.00 crore but <50.00 crore 50.00 crore but <100.00 crore 100.00 crore and above 3 months but<6 months 6 months but<1 year 1 year but<2 years 2 years but<3 years 3 years and above February , 2017 SCBs AGRANI 3.00 3.50 3.50 3.50 3.50 3.50 4.50 4.75 5.00 0.00 0.00 BASIC 4.00 3.50 3.50 3.50 3.50 3.50 4.50 4.75 5.00 5.25 5.25 BDBL 5.00 4.50 4.50 4.50 4.50 5.00 5.00-5.50 5.75 5.75 5.75 7.00 JANATA 3.50 3.50 3.50 3.50 3.50 3.50 4.50 4.75 5.00 0.00 0.00 RUPALI 3.50-4.50 3.00 3.00 3.00 3.00 3.00 4.50 4.75 5.00 5.00 5.00 SONALI 3.50 3.50 3.50 3.50 3.50 3.50 4.50 4.75 5.00 5.00 0.00 DFIs BKB 3.50 3.50 3.50 3.50 3.50 3.50 4.50 4.75 5.00 0.00 0.00 RAKUB 5.00-7.00 4.00 4.00 4.00 4.00 4.00 5.50-7.00 5.75-7.00 6.00-7.00 6.00-7.00 6.00-7.00 PCBs AB-BANK 3.50 2.50 3.25 4.25 5.00 5.50 5.50 5.75 6.00 6.00 0.00 AL-ARAFAH 3.00 3.00 3.00 3.00 3.00 3.00 5.50 5.75 6.00 6.00 6.00 BANK ASIA 3.25-4.00 2.50 3.00 3.00 3.00 3.00 4.50 4.50 5.00 6.00 6.00 BCBL 3.25-4.00 2.50 2.50 2.50 2.50 3.00 5.75-6.25 6.00-6.50 0.00 0.00 0.00 BRAC 1.00-4.00 1.00 1.50 2.00 3.00 4.00 1.00-6.50 2.00-6.50 3.00-7.00 4.75-6.50 4.75-6.50 DHAKA 3.00 3.00 3.00 3.50 4.00 4.00 4.00-5.00 4.00-5.00 5.00 4.00 7.18 DUTCH-BANGLA 0.00-4.00 1.00 2.00 2.00 2.00 2.00 3.00-3.20 3.25-3.35 3.40-3.50 3.80-4.00 4.30-4.50 EBL 2.00-3.50 1.00 2.00 2.50 3.00 3.00 3.50 3.50 4.00 4.00 4.00 EXIM 4.50 4.00 4.00 4.00 4.00 4.00 5.75-6.50 5.75 5.75-6.50 6.15 6.25 FBL 6.00-6.50 5.00 6.00 7.00 8.00 8.50 9.00-10.00 9.00-10.00 9.50-10.50 0.00 0.00 FIRST SECU 4.00 2.50 4.00 4.00 4.00 4.00 6.50 6.75 7.00 0.00 0.00 ICB 0.00-4.50 3.00 4.00 4.00 4.00 4.00 6.50 6.50 7.00 7.00 7.00 IFIC 4.00 2.00 3.00 3.00 3.00 4.00 5.00 5.25 5.50-6.00 0.00 0.00 ISLAMI 3.30 2.20 2.20 2.20 2.20 2.20 5.40 5.50 5.70 5.80 6.00-7.50 JAMUNA 3.00 2.00 2.50 3.00 3.50 4.50 4.50-5.50 4.50-5.50 4.50-5.50 0.00 0.00 MDBL 4.00-5.25 4.25 5.00 5.25 5.50 5.75 6.50-6.75 6.50 6.75 0.00 0.00 MERCANTILE 3.50 2.50 3.00 3.50 4.00 4.50 5.00 5.00 5.00 5.00 5.00 MGBL 5.00 3.00 3.00 4.00 5.00 5.50 6.00-6.50 6.50 6.50-7.00 0.00 0.00 MMBL 4.00-6.25 3.00 3.50 3.50 3.50 4.00 5.50 5.75 6.00 0.00 0.00 MUTUAL TRUST 3.00-3.25 2.75 2.90 3.05 3.25 3.50 5.00 5.00 5.25 5.50 5.75 NBL 3.00-4.00 3.50 3.50 4.50 4.50 4.50 5.25-6.25 5.50-6.50 6.00-7.00 5.25-5.75 5.25-5.75 NCCBL 3.25 3.00 3.10 3.15 3.25 3.50 5.00-5.75 5.25-6.00 5.50-6.00 0.00 0.00 NRBBL 4.00-6.00 3.00 4.00 5.00 5.00 5.50 6.00-6.75 6.00-7.00 6.25-7.00 7.00-7.50 0.00 NRBCBL 5.00-5.75 2.00 3.00 3.00 3.50 3.50 6.50-6.75 6.75-7.00 7.00 7.25 8.00 NRBGBL 5.00 4.00 4.00 4.00 4.00 4.00 7.50-8.00 7.50-8.00 7.50-8.00 7.50-8.00 7.50-8.00 ONE BANK 3.55-6.00 3.50 3.50 3.50 3.70 4.00 5.50 5.50 5.50 5.50 5.50 PREMIER 4.25-4.50 2.50 3.00 3.50 3.50 4.00 6.00-7.00 6.00-7.00 6.00-7.00 0.00 5.50 PRIME 3.00 2.00 2.50 2.50 2.50 2.50 3.50-4.00 4.25 4.25 4.25 4.25 PUBALI 3.00 2.50 3.00 4.00 4.50 4.50 5.00 5.25 5.50 6.00 6.00-8.00 SBACBL 4.00-5.00 4.00 4.00 4.00 4.00 4.00 5.00-7.00 5.00-7.00 5.00-7.00 5.00-7.00 5.00-7.00 SHAHJALAL 4.00 3.00 3.25 3.50 3.75 4.00 5.50-6.25 5.50-6.25 5.50-6.00 0.00 0.00 SIBL 3.00 3.00 3.50 4.00 4.50 4.50 5.50 5.75 6.00 0.00 0.00 SOUTHEAST 3.75 2.75 3.00 3.50 3.75 4.00 5.50 5.75 5.75 0.00 0.00 STANDARD 3.00 2.50 2.50 3.00 3.00 3.50 6.00-6.25 6.00-6.25 6.00-6.25 5.50 0.00 THE CITY 2.50-4.50 2.50 3.50 4.00 5.50 5.50 4.50-5.00 4.50-5.00 5.00-6.50 6.00 6.00-7.78 TRUST BANK 3.00 3.00 3.15 3.25 3.40 3.50 5.50-5.75 5.50-5.75 5.50-5.75 5.50-5.75 5.50-5.75 UCBL 3.00-4.00 2.50 2.50 2.50 3.50 3.50 4.75-5.00 4.75-5.00 4.75-5.00 5.25 5.75 UNBL 5.00 4.00 4.00 4.00 4.00 4.00 7.00 7.25 7.25 7.25 7.25 UTTARA 3.25 3.50 3.75 4.00 4.25 4.50 4.75 4.75 4.75 4.75 0.00 FBs AL FALAH 3.50-4.75 2.50 2.75 2.75 2.75 2.75 4.75 5.00 5.00-5.50 5.00 5.00 CITI N.A. 0.40 0.10 0.20 0.30 0.35 0.40 0.55-0.70 0.75 0.70 0.00 0.00 COMMERCIAL B. 2.00-4.75 2.50 2.50 3.00 3.50 3.50 3.50-4.00 4.50-5.00 5.35-5.50 5.35-5.65 5.35-7.00 HABIB 3.50 4.00 4.00 4.00 4.00 4.00 4.50 4.00-5.00 4.50 4.50 4.50 HSBC 1.00-1.75 1.00 1.15 1.25 1.50 2.00 1.00-2.75 1.00-3.30 1.00-4.20 2.00-4.70 2.00-5.60 NBP 6.00 3.00 3.50 4.00 4.50 5.00 9.00 9.00 9.50 9.50 9.50 SBI 3.50 1.00 1.25 1.50 1.50 1.50 4.00-4.50 4.25-4.75 4.25-4.75 4.25-4.75 4.25-4.75 STAN.CHART 0.75-5.00 0.75 0.75 1.25 2.00 2.00 2.00-2.75 2.00-3.25 3.00-4.50 3.50-6.25 4.00-6.00 WOORI 3.00 1.50 1.50 1.50 1.50 1.50 4.00-4.25 4.75-5.00 5.00-5.25 5.00-5.25 5.00-5.25