DHAKA: Bangladesh Bank (BB) Governor Dr. Atiur Rahman on Friday was elected as chairman of Asian Clearing Union (ACU), an international form of payment arrangement. 

The declaration came from a board meeting of ACU held in Iran.

Dr. Atiur Rahman confirmed to Banglanews about the selection.

The Asian Clearing Union (ACU), with headquarters in Tehran, Iran, was established on December 9, 1974 at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). 

The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of monetary transactions among the members of the Union and to provide a system for clearing payments among the member countries on a multilateral basis.

BDST:  1802 HRS, May 23, 2014