The New Nation - Internet Edition

Standard Chartered Bank, Bangladesh has continued to lead the way by successfully closing the first EUR/USD derivative deal in Bangladesh with Square Yarns Ltd. Square Yarns Limited, a concern of Square Group, was exploring an innovative product to hedge their exchange risk against underlying Euro exposure.

Global Markets, Standard Chartered Bank, Bangladesh structured EUR/USD Zero Cost Option to hedge their exchange risk. Zero Cost Option/Range Forward provides the customer with more flexibility by fixing a range of exchange rate. Derivative is currently the most preferred product in the foreign exchange market for hedging exchange risk.

Vibrant derivatives market in neighbouring countries has provided wide array of risk management tools and played a pivotal role in overall financial market development. The deal demonstrates the commitment of Standard Chartered Bank, Bangladesh in developing the FX market in Bangladesh. Standard Chartered Bank has always pioneered new risk management solutions in the country.