Dhaka, Feb. 25 -- Bangladesh Bank will end the facility for commercial banks to borrow money through two types of repos, a move that the International Monetary Fund, or IMF, has been urging for some time.

In the first phase, the 28-day repo facility will be discontinued within the third week of March, with the 14-day repo set to end by June.

The decision was made at a meeting between Bangladesh Bank's deputy governor and the treasury heads of commercial banks on Monday.

Bangladesh Bank spokesperson Arif Hossain Khan told bdnews24.com that the 28-day repo would be stopped in the second or third week of March due to Ramadan.

According to several treasury heads present at the meeting, both the 28-day and 14-day repo facilities will be ph...