Kakao made the investment in part by acquiring SM's newly issued stocks through third-party paid-in capital increases.
He stated that the city will provide a full range of financial and professional services to Saudi Aramco, including assistance in listing in Hong Kong.
Out of this, 79.43 percent comprised of personal finance loan accounts, while a much smaller share was recorded for credit card and mortgage loans.
Banks are expecting their loan portfolios to grow between 10 and 12 percent this year, matching the industry-wide forecast by the Financial Services Authority.
There is hope the plan will be agreed on by the end of March, with the first tranche coming as early as in April in the best-case scenario.
Investors expected the US dollar to weaken sometime later this year, which would incentivise them to move to emerging economies’ capital markets.
The government hopes this will boost the country’s export value, as well as supporting economic growth.
A total of 23 memorandums of understanding and a contract were signed between the two countries during a business forum held in Abu Dhabi.
13 agreements that have been signed cover cooperation in space, hydrogen, and small-to-medium enterprises.
The Bangladesh Bank said it will also consider removing the lending rate cap in the presence of a 'suitable economic condition'.