The New Nation - Internet Edition

BUSINESS REPORT

Standard Chartered Bank and ACI Limited have successfully concluded a GBP/USD Range Forward deal. This is the first derivative deal of ACI Limited, a leading pharmaceutical company in Bangladesh, to hedge their exchange rate risk.

ACI was exploring an innovative solution for hedging their exchange risk against underlying GBP exposure. Catering to this Standard Chartered Bank Financial Markets structured a GBP/USD Range Forward solution to hedge against their exchange risk.

This structure provides the customer with more flexibility by fixing a range of exchange rate. By using this instrument, ACI Limited has demonstrated a clear endorsement of the future potential of exchange rate derivatives for Bangladesh.

Muallem A. Choudhury, Executive Director, Finance and Planning, ACI Limited, emphasised the importance of risk hedging for prudent financial management of corporate and thanked Standard Chartered Bank for providing such innovative risk hedging solutions.

Standard Chartered Bank is committed to providing innovative risk management solutions to its customers and continually strives to be at the forefront of advancement in financial products and services.

The deal is yet another testament to SCB's leading role in developing the local foreign exchange market.