ICB approves Tk 20cr loan for Prime Bank Investment

The Investment Corporation of Bangladesh (ICB) has approved a loan of Tk 20 crore in favour of Prime Bank Investment Limited (PBIL), a merchant bank, from the "special fund for affected small investors of capital market" on a repayment basis.

The PBIL and the ICB signed an agreement in this regard at the latter's office in Dhaka on Wednesday, the PBIL said in a press release.

CQK Mustaq Ahmed, chairman of the PBIL, and Abu Taher Mohammad Ahmedur Rahman, managing director (current charge) of the ICB, inked the deal.

Hassan O Rashid, managing director and chief executive officer of Prime Bank Limited and director of the PBIL, Khandoker Raihan Ali, managing director and CEO (current charge) of the PBIL, Md Anwar Shamim, general manager for accounts and finance at the ICB, Md Korban Ali, deputy general manager of the special fund management unit, and Md Faruque Alam, deputy general manager of legal affairs and documentation department, were present.