Dhaka, June 10 -- Bangladesh Bank (BB) has taken a positive stance regarding a proposal from the state-owned Export-Import (Exim) Bank of China to utilize alternative financial infrastructures-specifically the Cross-Border Interbank Payment System (CIPS) and so-called 'Panda bonds' -to reduce over-reliance on the US dollar in international trade.

The issue was discussed in detail during a high-level meeting between the central bank and a Chinese delegation on Tuesday (June 9). Following the talks, central bank officials on Wednesday stated that Bangladesh Bank has no policy objections if any domestic commercial bank wishes to integrate with the CIPS network.

The possibility of raising funds through issuing Panda bonds-yuan-denominated b...