BB starts releasing new notes worth Tk 220b

Posted by BankInfo on Fri, Jul 03 2015 11:40 am

Bangladesh Bank on Thursday started releasing newly printed notes of Taka to the local market. The new notes of different values of the local currency will be available at headquarters of the central bank as well as at different branches of commercial banks.

"Mainly, the new notes are being released on the occasion of holy Eid-ul-Fitr. We've been practicing this for many years," Mahfuzur Rahman, the executive director of Bangladesh Bank, told UNB.

He informed that this year the total amount of the new notes of different values will be about Tk 220 billion (Tk 22,000 crore) and these will be released in the market from different banks. "The new notes will be coming into the market gradually up to Eid," he added.

He informed that during this occasion people prefer new notes. Many people like to give new notes to nearer and dearer ones as gift as a sign good wishes.

Officials said the demand for new notes remain on the peak during this occasion of Eid.

That's why the central bank has also preferred to release the new notes in to the market during this time so that people can easily obtain the new notes.

Although there is no official restriction on the amount of new notes that can be held by a person, banks maintain their own strategy to release the new notes keeping in mind its availability and demand, said a BB official.

News:Financial Express/3-July-2015

Four bank officials among six sued for embezzling Tk 141m

Posted by BankInfo on Fri, Jul 03 2015 11:31 am

The Anti-Corruption Commission (ACC) filed Thursday separate cases against two officials of Sonali Bank, two former officials of United Commercial Bank Ltd (UCBL) and two others for allegedly swindling out of around Tk 141 million.

ACC's senior deputy director Mir Zainul Abedin Shebly, also the investigating officer, filed a case with Motijheel police station against three people, including two officials of Sonali Bank, for swindling out of more than Tk 41.4 million.

The anti-graft watchdog at a recent meeting approved a proposal for filing a case against them, ACC public relations officer Pranab Kumar Bhattacharya said.

The accused are managing director of Oli Knitting Fabrics Ltd (Narayanganj) Ayesha Afroz, executive officer of Sonali Bank Mosharraf Hossain and its executive officer and manager of Debidwar branch Zakir Hossain.

According to the ACC investigation, all the accused in collusion with each other swindled out Tk 41.4 million from Sonali Bank local branch through disbursement of loan to Oli Knitting Fabrics Ltd against fake documents.

Meanwhile, ACC deputy director Nasir Uddin filed another case against three people, including two former officials of UCBL, on charge of embezzling Tk 100 million by submitting forged documents.

After investigation into the allegation, Nasir Uddin proposed that the commission should approve the case. Later, ACC gave approval for filing the case against the three people last week.

The case was lodged with Kotwali police station in the capital on Thursday.

The accused are former manager of UCBL Nayabazar Branch Ali Haider and former official Md Yunus and FS Packaging Lt's chairman Fahmida Sultana.

ACC sources said Nurul Islam, husband of Fahmida, played a key role in getting loan from UCBL, showing forged documents. But they relieved him of the charge after his death.

Fahmida and her husband took out loan of Tk 100 million from UCBL Nayabazar Branch.  In order to get the loan, they submitted a deed of 17 kathas of land as mortgage. The land deed was in the names of Nurul Islam's brothers and sisters, but they were not informed of it at all.

The ACC in its investigation found that both Fahmida and Nurul submitted the land deed after preparing some fake documents in their names.  Two bank officials helped them receive loan after they had approved the forged documents.

News:Financial Express/3-July-2015

Al-Arafah Islami Bank Ltd continues Iftar hosting

Posted by BankInfo on Fri, Jul 03 2015 11:15 am

Al-Arafah Islami Bank Ltd is carrying on the month long program to distribute Ifter among seventy thousand fasting pedestrians in Dhaka, Chittagong and other major cities during the holy month of Ramadan. Under this plan, Head Office and Motijheel Branch of the Bank arranged two separate programs to distribute Ifter items at Gulistan and Motijheel area of the Capital city, reports a press release. Senior Vice Pressident Md. Abul Hossain and Vice President C.G.M. Asaduzzaman were present in the program arranged at the Head Office. On the other program, arranged by Motijheel Branch, was attended by Senior Vice President A.K.M. Amzad Hossain and Vice President Md. Sultan Mahmud.

News:Bangladesh Today/3-July-2015

BB likely to increase SME loan to women entrepreneurs

Posted by BankInfo on Fri, Jul 03 2015 10:19 am

Abu Sazzad :Bangladesh Bank is likely to increase the small and medium enterprises (SMEs) loans among the women entrepreneurs across the country. In this regard, Bangladesh Bank issued a circular recently, for all the chiefs of financial institutions to attend a meeting. The meeting may be held on July 6 or 7, according to the banking sources.During the first quarter (January to March) of the current year, all financial institutions disbursed SME loan of Tk 26,140.08 among 2,10,800 entrepreneurs.Out of the total SME loan disbursement, only Tk 886.73 crore was distributed to the women entrepreneurs.  The role of small and medium enterprises (SMEs) by women entrepreneurs is vital for overall economic growth of any country. With the help of SMEs, Bangladesh deliberately wants to assist women entrepreneur to empower in the society by providing adequate financial assistance, said Sukumol Sinha Chowdhury, SME Consultant of Bangladesh Institute of Bank Management (BIBM)."SME development of the women entrepreneurs can reduce the economic disparity from the society, so we have to ensure adequate financial support for the entrepreneurs", said Sukumol Sinha.Bangladesh Bank's Deputy Governor SK Sur Chowdhury said that the central bank is asking and encouraging the scheduled banks to give emphasis on increasing credit supply to the women entrepreneurs.The SME credit would encourage the women entrepreneurs to operate their business smoothly, he said. According to the SME Department of Bangladesh Bank, the SME loan repayment of women entrepreneurs is satisfactory. For this, the central bank wants to ensure more SME loan to the women entrepreneurs, said SME and Special Programmes Department General Manager Swapan Kumar Roy.The aim of the meeting is to provide more SME loan to the women entrepreneurs, said the general manager.

News:New Nation/3-Juny-2015

Md Abul Hossain, Director of Islami Bank Bangladesh Limited, addressing on 'Role of Ramzan in Purifying Wealth and Soul' organized by Jatrabari branch of the bank on Wednesday.

Posted by BankInfo on Fri, Jul 03 2015 10:12 am

Md Abul Hossain, Director of Islami Bank Bangladesh Limited, addressing on \'Role of Ramzan in Purifying Wealth and Soul\' organized by Jatrabari branch of the bank on Wednesday.

News:New Nation/3- July-2015
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