BRAC Bank organises seminar on Transition from LIBOR

BRAC Bank organised a seminar on ‘Transition from LIBOR’ for the Treasury officials of different banks across the industry.

The seminar focused on the shift from London Interbank Offered Rate (LIBOR)-based interest rates towards alternative Risk-Free Rates (RFR).

The interactive session between the interbank participants took place at BRAC Bank head office in Dhaka on November 28, said a statement.

BRAC Bank Managing Director & CEO Selim RF Hussain said, “The transition away from LIBOR could be one of the most significant and complex challenges that financial markets would ever confront with.”

He emphasized on how market participants would play an important role in fostering productive discourse about the transition away from LIBOR to bring about an ultimately successful and timely transition.

With this session, market participants will be able to better prepare themselves for transition from LIBOR, which is phasing out after December 31, it said.