For the second time (2) Moody’s Ratings decreased Bangladesh’s long-term credit rating. Moody’s Ratings recently lowered Bangladesh’s long-term credit rating for the second time. The managing director (MD) of Bank Asia, Sohail R. K. Hossain, called this action by the international credit rating agency unfortunate and said the banking industry is going through a difficult time right now. The Moody’s downgrade is a little disappointing in this regard.
For the second time (2) Moody’s Ratings… These remarks were given by Sohail R. K. Hossain during the “Meet the Press” event commemorating Bank Asia’s 25th anniversary, which was held at a hotel in the capital today, Tuesday. A. N. M. Mahfuz, Additional MD Shafiuzzaman, and Managing Director (MD) Sohail R. K. Hossain of Bank Asia were present at the ceremony. Among those in attendance were the DMDs of the bank, including Mirza Azhar Ahmed, A. R. Arifin, S. M. Iqbal Hossain, Alamgir Hossain, S. M. Anisuzzaman, and Muhammad Ziaul Hasan Mollah.
“Moody’s has downgraded the credit rating twice in a row,” stated Sohail R. K. Hossain. This is a little underwhelming. The nation’s banking sector is now dealing with some difficulties. However, this scenario has been overstated by certain international media sites, which may have an impact on Moody’s ranking as well. For the second time (2) Moody’s Ratings..
The MD of Bank Asia feels that everyone involved should have a voice in the financial sector’s problems and reform initiatives. “Bangladesh Bank will react in its own manner with respect to Moody’s ranking,” he stated. But individuals working in the banking industry must also speak up. The nation’s financial industry undoubtedly faces difficulties. Nevertheless, we now have a chance to deal with these problems. We also have the opportunity to implement long-term changes. It is crucial to discuss these issues. For the second time (2) Moody’s Ratings…
The journey of Bank Asia began on November 27, 1999. The bank has supported innovation, good governance, and financial inclusion over its 25 years of operation. At the moment, Bank Asia has more than 5,000 agent outlets, more than 50,000 micro-merchants, 135 branches, 15 sub-branches, and five Islamic windows. Furthermore, Bank Asia Securities operates two exchange houses in the US and London, along with twelve branches. In order to provide financial services to underserved individuals in isolated and inaccessible places, Bank Asia launched agent banking services in the nation in 2014.
At the ceremony, it was revealed that Bank Asia, the nation’s biggest agent banking service provider, has about 50,000 micro-merchant clients. Within the following two years, they intend to double this figure. However, the bank has hopes to treble its daily turnover, which already surpasses 250 crore takas. Additionally, as part of its corporate social responsibility programs, Bank Asia is engaged in projects like building the Mother Amiran Hospital, giving free eye surgeries to blind children from low-income families, and offering scholarships for talented but underprivileged students in rural areas to pursue higher education.
For the second time (2) Moody’s Ratings
