Emerging Markets Rates and Currencies Handbook

Bangladesh (BDT - Bangladeshi Taka) Citi in Bangladesh Citi has been present in Bangladesh since 1987. Today Citi has three branches, two banking offices and more than 150 employees in Bangladesh. Citi in Bangladesh operates across the Institutional Clients Group (ICG) supporting global multinational companies, large Bangladesh corporates, financial customers and public sector clients with award-winning cash management, trade services, agency and trust, and direct custody and clearing solutions, as well as FX and lending. Citi has a well-developed Financial Institutions business supporting the cross-border transactions of nationalized and private sector banks in the country. Citi also plays a vital role as the leading book runner of capital-market solutions for our clients in Bangladesh. Citi's Corporate Bank serves local corporates and multinationals across several industries, providing vital linkage and an integrated perspective throughout the Bangladesh supply chain and business operations. Market Overview Bangladesh Bank, the Central Bank of the country ensures 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. Bangladesh Bank sets FX and Monetary Policy and maintains the BDT in a managed, floating regime. 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). Convertibility Convertible on Current Account transactions. Resident owned capital is not freely transferable abroad. Repatriation of profits or disinvestment proceeds on non- resident FDI and FPI inflows are permitted freely. 6