BB signs MoU with RBI to expedite cooperation
08 November 2015, Nirapad News: Bangladesh Bank (BB) has signed a memorandum of understanding (MoU) with the Reserve Bank of India (RBI) to expedite supervisory cooperation and exchange of supervisory information.
The MoU was signed in Mumbai, India on October 26. BB executive director Saiful Islam and RBI executive director Meena Hemchandra singed the MoU on-behalf of their organisation, according to a BB press release, issued on Thursday.
Under the MoU, the two central banks would also strengthen supervision of cross boarder banking. Currently, one bank from India – Bank of India – is operating in Bangladesh while AB Bank and Sonali Bank of Bangladesh are operating in India.
BB said that the MoU would also help in compliance of Basel accord and Basel core principle of banking supervision (BCBS).