“The judgment and order merely resolved the jurisdictional issues and in no way ascertained the liability on the part of RCBC, or any individual respondent,” it said in a stock exchange disclosure.
Bangladesh Bank welcomed the court’s decision in a statement this week, saying it cleared the way as needed for the case to progress in court in New York.
A source in the banking sector in Dhaka, who declined to be named as he was not authorized to speak to the media, said that according to Bangladesh’s central bank, RCBC should now come forward for arbitration or face long court proceedings. Must be ready to fight.