Bangladesh Bank has awarded NRBC Bank as the best `Primary Dealer’ bank for the best performance. The Central Bank issued a letter on Thursday where NRBC Bank was named as the best Primary Dealer (PD) of Bangladesh for its outstanding performance during the last quarter(October-December) and the central bank paid Tk. 5,35,420 as underwriting commission to NRBC Bank.
It is to be mentioned that, a primary dealer is a bank or financial institution that is approved to trade national securities treasury bill and bond. Government collects money by selling Treasury Bills(T-Bills) and Bangladesh Government Treasury Bonds(BGTBs) those are issued through auctions.
Only Primary Dealers (PD) can submit bids in these auctions where the Central Bank acts as the government representative. Out of 61 banks, only 20 banks are working as primary dealer (PD) presently. The name of the organization of primary dealers is 'Primary Dealers Bangladesh Limited (PDBL).
SM Parvez Tamal, Chairman of NRBC Bank said that, “We are working together with government development activities along with our general banking. Government takes loan from banks to meet up liquidity support for development works. NRBC Bank is bound to give loans to the government as per the agreement with government as PD Bank.