EXIM Bank, United Hospital sign deal

Posted by BankInfo on Thu, Sep 18 2014 12:48 pm

Dr. Mohammed Haider Ali Miah, Managing Director and CEO of EXIM Bank Ltd, and Dr. Dabir Uddin Ahmed, Clinical Operation Director of United Hospital, exchange documents after signing an agreement at the bank’s head office in Dhaka on Tuesday. EXIM Bank Limited signed a corporate medical service agreement with United Hospital at the bank’s head office in Dhaka on Tuesday.

As per the agreement, EXIM Bank employees would be able to receive medical service from United Hospital at discount rates, said a press release.
Dr. Mohammed Haider Ali Miah, Managing Director and CEO of EXIM Bank, and Dr. Dabir Uddin Ahmed, Clinical Operation Director of United Hospital, signed an agreement.

News:Daily Sun/18-Sep-2014

PDBL launches website to provide update GS info

Posted by BankInfo on Thu, Sep 18 2014 12:41 pm

Anis A Khan, Chairman of Primary Dealers Bangladesh Limited and Managing Director and CEO of Mutual Trust Bank Limited, inaugurates the website of PDBL at a function at the head office of Sonali Bank in Dhaka recently.

 Primary Dealers Bangladesh Limited (PDBL) launched its own website - www.pdbl.org.bd aimed at providing relevant information like yield, prices, benefits of Government Securities (GS) to market participants and researchers.

Anis A Khan, Chairman of PDBL and Managing Director and CEO of Mutual Trust Bank Limited (MTB) inaugurated the website as chief guest at a function held at the Head office of Sonali Bank Limited in Dhaka recently, said a press release. Bangladesh Bank has appointed 12 banks as Primary Dealers to help developing a vibrant secondary market for Government Securities. As a market maker of government securities, the primary dealers have developed their website for market participants and researchers.

News:Daily Sun/18-Sep-2014

Islami Bank allocates Tk. 50 million for flood victims

Posted by BankInfo on Wed, Sep 17 2014 12:32 pm

Islami Bank Bangladesh Limited has allocated Tk. 50 million to help and rehabilitate flood and river erosion affected destitute people in the country. Board of Directors of the Bank at an emergency meeting with its Chairman Prof. Abu Nasser Mohammad Abduz Zaher in the chair on September 14, 2014 took the decision. The allocated fund will be spent in providing necessary food, cash money and rehabilitation of the hapless people affected by flood and river erosion in the affected districts, informed by the authority.
Earlier, the Bank allocated Tk. 20 million for the flood victims. With the increase in havoc of the flood Bank’s management has enhanced the amount.

News:The Bangladesh/17-Sep-2014

BB cautions about bitcoin transactions

Posted by BankInfo on Wed, Sep 17 2014 12:26 pm

DHAKA:The Bangladesh Bank (BB) Monday cautioned the people about the risk of transaction by using bitcoin and warned that such transaction would be tantamount to illegal activities as well as punishable offence under the existing law, reports BSS.
The BB in a statement said the bitcoin is not a legal tender as it is not regulated or issued by a central bank of any country. The statement issued against the backdrop of media reports about increasing use of the crypto currency particularly in online transactions.
The central bank suggested people to refrain from using the crypto currency in any kind of transaction including online trading, and cautioned that such transaction would cause the persons concerned to incur huge loss and to be behind the bar. The BB also said transaction by crypto currency like bitcoin is a punishable offence under the Foreign Exchange Regulation Act, 1947 and the Money Laundering Prevention Act 2012.

News:The Bangladesh/17-Sep-2014

Karmasangsthan Bank’s Iqbal to take the helm of BASIC

Posted by BankInfo on Wed, Sep 17 2014 10:49 am

Former Janata Bank chairman Abul Barakat completed his tenure last week

The government has decided to appoint the managing director of state-run Karmasangsthan Bank, Khondoker Md Iqbal, as the MD of financially troubled Basic Bank under the new rule of appointment of state bank MDs, according to officials of Bank and Financial Institutions Division. 

The Bank and Financial Institutions Division (BFID) was, however, unable to appoint the MD of state-run Janata Bank that lacks its chairman as well as an effective search committee to pick up three individuals to finally choose one as the MD.  

Former Janata Bank chairman Abul Barakat completed his tenure last week. 

In mid-August, the BFID under the Finance Ministry took back the power of the  boards of state-owned banks to appoint MDs.

The boards enjoyed the authority over appointment for nearly seven years.

The Banking Division urged the government to reconstitute the boards of directors of state banks first and then return the authority over appointment to the boards to run the banks professionally.  

The directives were imposed on the three state-owned commercial banks, Sonali, Janata and Agrani, plus two other public sector semi-commercial banks, BASIC and BDBL.

Currently, the posts of chief executive officer are falling vacant in Janata and BASIC banks while the tenure of incumbent managing director of BDBL will end in February and that of Sonali and Agrani in July next year.

Banking Division Secretary M Aslam Alam told the Dhaka Tribune yesterday, “They have picked up Karmasangsthan Bank MD Khondoker Md Iqbal from a panel of three individuals chosen by the BASIC Bank search committee.

“In the wake of complexity regarding appointment of new Janata Bank chairman we are yet to receive names from the search committee of Janata Bank,” he said.

On May 24, the central bank removed the managing director of state-owned BASIC Bank Quazi Fakhrul Islam from his post on charges of his negligence in duty and irregularities.

Despite a seasoned banker, Alauddin A Majid will face challenges to bring discipline to lending, as the BASIC Bank’s indicators went on a free fall over the last four years due to massive irregularities that cost the bank Tk4,500 crore.

On July 6, the government dissolved the BASIC Bank board.

This was the second time the board of a state-run bank was fired for financial anomalies within a span of less than two years.

In December 2012, the board of Sonali Bank was reconstituted following the Hall-Mark scam.

On the same day, the Banking Division appointed Alauddin A Majid, chairman of the state-controlled Krishi Bank, as the new chairman of BASIC Bank.

Meanwhile, Finance Minister AMA Muhith accepted the resignation letter of Sheikh Abdul Hye Bacchu, the BASIC Bank board chairman.

News:Dhaka Tribune/16-Sep-2014


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