BRAC Bank finances MJL Bangladesh’s acquisition of largest flag vessels
BRAC Bank PLC has provided USD 95.77 million to MJL Bangladesh PLC for two Aframax oil tankers—the largest vessels to date registered under the Bangladeshi flag.
This transaction marks the largest single-ticket foreign currency offshore banking term loan arranged by a private bank in Bangladesh for the shipping and maritime industry.
As part of the financing, MJL Bangladesh has inducted the 'MT Omera Galaxy', an Aframax-class oil tanker with a capacity of 115,600 DWT, making it the largest ocean-going vessel to carry the Bangladesh flag. The company is also acquiring a second Aframax tanker, the 'MT Omera Liberty', currently under construction at a leading shipyard.
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The signing ceremony took place at Mobil House, Dhaka, on September 2, 2025, in the presence of senior officials from both organisations. Tareq Refat Ullah Khan, Managing Director and CEO of BRAC Bank, and Md Mukul Hossain, CEO of MJL Bangladesh, signed the agreement, which was witnessed by Meheriar M Hasan, Chairperson of BRAC Bank, Azam J Chowdhury, Managing Director of MJL Bangladesh, and Tanjil Chowdhury, Director of MJL Bangladesh.
"This transaction is extraordinary in many respects. It marks the largest FCY offshore term loan arranged by a Bangladeshi private bank for this industry, enabling the acquisition of the largest ocean-going vessels to carry the Bangladesh flag. Beyond strengthening maritime logistics, this financing contributes directly to trade, commerce, and long-term economic development, while strengthening inward foreign currency flow," said BRAC Bank MD and CEO Tareq Refat Ullah Khan.
