Singapore-based DBS Bank announced to open their representative office in Bangladesh capital Dhaka.
They gave the announcement to open Bangladesh office on Wednesday (November 16). With this office, the bank will have their representative offices in 19 countries of the world.
In last two decades, Bangladesh has been an important development-partner of Singapore. In 2021, Singapore was the third largest import-partner of Bangladesh, who imported products of almost 2.4 billion US dollar. At the same time, Singapore is one of the top investors in power, fuel, communications, logistics and port sector in Bangladesh.
Bangladesh will need a big amount of short-term and long-term investment in its fuel and infrastructure sector and that’s possible only through active role of private sector. DBS thinks the partners in North Asia and India will play the most important roles in this regard.
DBS is maintaining its relation with Bangladesh by financing and providing advising services, in addition to its assistance in investing in various projects. Now, with the opening of Bangladesh Representative Office, the scope of work of the bank will be extended further. At the same time, DBS Dhaka will play a mid-term role in communicating DBS customers worldwide.
Tahsina Banu was appointed as the chief representative of DBS Dhaka, who has more than 20 years of working-experience in international banking sector of Bangladesh and Middle-east. Her experience covers in wholesale banking, trade operations and risk management along with different banking jobs.
About opening representative office in Dhaka, DBS Banking Group head of institutional banking Tan Sushan said, “Singapore is celebrating 50 years of their relation with Bangladesh and we think its high time we invested in the growing market like Bangladesh. Recently, Bangladesh’s importance has risen due to its unique geographic location. So, it has become an important region for the DBS customers who want to conduct trade in South Asia and beyond it. Therefore, this representative office will be opened as a part of assisting the investment tasks of the customers and expansion plan.”
DBS Bank has achieved the ‘Safest Bank in Asia’ award from US-based financial publications Global Finance from 2009 to 2022 consecutively. Besides, the bank got recognition of ‘World’s Best Bank’ from ‘Global Finance.’ It was the reflection of the banks’ relentless effort to give the future of banking industry a new dimension.
Bd-pratidin English/Lutful Hoque
