A senior executive vice-president of Bank Asia Limited was recently elevated to the position of deputy managing director (DMD).
According to a news release, the promotee, Arequl Arefeen, is also the bank’s head of group treasury.
2003 saw Arefeen join Bank Asia. Later on, he assumed leadership as the bank’s head of treasury.
With a focus on treasury management, liquidity management, asset-liability management, market risk management, foreign exchange dealing, financial products and derivatives, trade finance, and investment portfolios, he has a wealth of experience in the banking industry.
As a focus group participant for the Bangladesh Bank’s Core Risk Management Guideline in Foreign Exchange, he is currently lending his expertise (BB).
He is also a member of the Bangladesh Foreign Exchange Dealers’ Association’s technical committee.
In 1995, Arefeen began working for IFIC Bank Ltd. as a branch banking representative, specializing in foreign commerce.
He was a money market and currency dealer with NCC Bank Ltd. as well.
In order to create a development that is inclusive and climate resilient, Bangladesh will receive a $400 million policy-based loan from the Asian Development Bank (ADB) to assist the implementation of its National Adaptation Plan, 2023–2050, and Nationally Determined Contributions, 2021 Update to the Paris Agreement.
The initial subprogram of the $700 million Climate-Resilient Inclusive Development Programme is this support.
Bangladesh has seen an average annual loss of almost $3 billion, making it one of the most vulnerable nations in the world to the negative effects of climate change, according to an ADB statement.
At a ceremony held today at the Economic Relations Division (ERD) in Dhaka, Md. Shahriar Kader Siddiky, secretary of the ERD, and Edimon Ginting, country director of the ADB, signed the loan agreement.
“As the region’s climate bank, ADB is committed to support Bangladesh’s progressive actions to strengthen its climate resilience, transition to a low-carbon economy, mitigate its greenhouse gas emissions, and mainstream gender equality and social inclusion in the government’s climate actions,” Ginting stated.
According to the ADB country director, the initiative would provide a supportive institutional and policy framework for mobilizing climate finance and giving climate activities priority within the nation’s broader development plan.
According to him, it will also assist the government in putting reforms into place in areas that are crucial to the climate, such as energy, agriculture, disaster relief, transportation, and infrastructure.
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