1100 NCR ATMs to be installed within next one yr
Managing Director of DBBL K.S Tabrez and Managing Director of Technomedia Limited Joshoda Jibon Deb Nath exchanging documents in the signing ceremony of the agreement under which Technomedia Limited will supply 1100 NCR ATMs. Deputy Managing Director of DBBL Abul Kashem Md. Shirin and COO of Technomedia Khorshed Alam also attended the programme held Monday.
The Dutch-Bangla Bank Limited (DBBL) has moved to install 1,100 more ATM booths in different locations of the country within March of next year.
The bank, already having the largest network of Automated Teller Machine (ATM) across the country, will set up the new ATM booths in phases.
To purchase and set up the new ATMs, the DBBL signed an agreement with Technomedia Limited (TML), a local ICT company, at the DBBL head office in the city Monday.
With the latest agreement, Technomedia Limited will be able to supply a total of 3700 NCR ATMs to the DBBL.
The DBBL took the move to set up such a big number of ATMs only one and half months after the Bangladesh Bank (BB) relieved the banks from taking its prior permission to install new ATM.
Under the Monday's deal, the TML will supply 1,000 ATM booths of NCR brand at the cost of Tk 400 million; additionally, 100 units of ATM will be supplied at free of cost, sources said.
TML is a local agent of NCR Corporation, a US-based computer hardware, software and electronics company.
"In order to carry out its banking business more efficiently and conveniently, DBBL intends to procure NCR ATMs to install at its different branches and other suitable locations in the country."
Some 200 ATMs, along with proportionate 20 units of free ATMs, will be installed in the first phase while rest of the ATMs will be supplied within two years of issuance of DBBL's work order in phases, as per the deal.
All the shipments will be made from Hungary, the agreement noted.
The TML will give comprehensive warranty of one year that will begin from date of delivery of goods at the DBBL warehouse.
After the warranty, the period of annual maintenance contract (AMC) will start under a service level agreement (SLA) between the two companies.
Under another deal with DBBL, TML has installed a total of 573 units of NCR ATM and 573 units of cash deposit machines (CDM) under the buy-back policy with Diebold ATMs.
TML supplies NCR ATMs and MICR cheques to some 22 banks and financial institutions.
Barclays fell into a net loss last year, the British bank said Tuesday, hit by huge costs linked to its alleged role in the rigging of foreign exchange markets.
Barclays reported a loss after tax of £174 million ($268 million, 239 million euros) for 2014 compared with a net profit of £540 million the previous year.
It has set aside £1.25 billion "for ongoing investigations and litigation relating to Foreign Exchange", including £750 million for the final quarter of 2014, the bank said in an earnings statement.
Barclays had announced in October a provision of £500 million for any eventual costs and fines linked to the probes.
The latest announcement from Barclays -- which was at the heart also of the 2012 Libor interest-rate rigging scandal -- comes as global regulators investigate the alleged rigging of foreign exchange markets around the world.
In Britain, watchdogs the Serious Fraud Office and the Financial Conduct Authority have launched probes into the alleged manipulation of the £3-trillion-a-day forex market.
"We remain focussed on addressing outstanding conduct issues, including those relating to Foreign Exchange trading," chief executive Antony Jenkins said in Tuesday's results statement.News:The Daily Star/4-Mar-2015
Chief executives seek protection against wilful sacking
The central bank yesterday warned the chief executives of non-bank financial institutions not to act irresponsibly and indulge in irregularities.
“We have observed that some NBFIs still indulge in irregularities despite our caution. We are investigating those allegations and if any NBFI is found guilty of wrongdoing, we will take tough action against it and its CEO,” Bangladesh Bank Governor Atiur Rahman said at a quarterly meeting with the CEOs at the central bank headquarters.
Rahman reminded the CEOs that the central bank has already removed a chairman, some directors and a chief executive of an NBFI for their wrongdoings. Another CEO has also been fined for giving wrong information to the central bank, he added.
The central bank found that the non-banks are lending to directors, violating rules and regulations; paying attendance honorarium to their directors even if they were absent in meetings, and organising executive committee meetings without any important agenda.
SK Sur Chowdhury, deputy governor of BB, said the CEOs have promised the central bank that there will be no irregularities in the future.
On the other hand, the chief executives sought the central bank's protection so that their board of directors cannot remove or suspend them without prior approval from BB. They said the central bank has protected the CEOs of banks through a notice issued in December last year.
“The nature of work of a bank CEO and an NBFI CEO is almost the same; the regulator is also the same. If a bank CEO is protected by Bangladesh Bank, why not us?” Asad Khan, president of Bangladesh Leasing and Finance Companies Association, told reporters after the meeting.
“Otherwise, the CEOs of NBFIs won't be able to stand against the unlawful demands of directors,” said Khan, also the chief executive of Prime Finance.
Meanwhile, other issues like the development of the bond market, a road map for strengthening non-banks and removal of regulatory barriers for them were also discussed at the meeting. The deputy governor, who briefed reporters on the outcomes of the meeting, said the central bank wants the NBFIs to become active in the bond market.
“So far, only three NBFIs have appeared in the bond market; we want others to follow.”
Chowdhury said the non-banks have demanded a tax rebate, for which, the BB governor will write to the revenue board.
The non-banks submitted a number of proposals at the meeting, including exclusion of the loan exposure with NBFIs' own subsidiaries or associate companies from the list of top 10 borrowers, separating each component from the CAMELS rating, refinancing facility for SMEs based on a client's individual criteria. They also demanded deadline extension to adjust loan exposure with their subsidiary companies. The NBFIs also proposed to calculate nonperforming loans on a net basis, not gross.News:The Daily Star/4-Mar-2015
Remittances recovered slightly in February with a 0.85 percent gain year-on-year, according to Bangladesh Bank.
The country received $1.18 billion in the second month of 2015, up from $1.17 billion in February last year, according to the provisional figures released by the central bank yesterday.
February receipts are, however, the lowest in the last four months.
Bangladesh received $9.9 billion in the first eight months of the current fiscal year, up 7.6 percent over the same period a year ago.
Experts said migrant workers are worried about the political upheaval since January 6, prompting them to hold back from sending in money.
Sent by more than eight million migrant workers, remittance plays a key role in reducing the overall incidence of poverty in the country as well as helping the country maintain a healthy balance of payments.
If the migrant workers continue to send in money as they have done so far, Bangladesh may receive $15 billion this fiscal year.
The country received nearly $14.23 billion in remittance in the last fiscal year, down from fiscal 2012-13's $14.46 billion.
It is now possible to make up for the negative growth after Saudi Arabia's decision to reopen its labour market to migrant workers from Bangladesh after a six-year bar, a central bank official said.
Saudi Arabia is home to more than 15 lakh migrant workers from Bangladesh, the country's largest destination for workers. Riyadh's refusal to take in Bangladeshi workers in the last six years had led to a decline in overall labour migration.News:The Daily Star/3-Mar-2015
Md Hashem Chowdhury was promoted to the post of additional managing director of Mutual Trust Bank on Sunday, the bank said in a statement yesterday.
He was serving as the deputy managing director prior to the promotion, it added.
He has also worked as the chief operating officer and CAMLCO of the bank previously, as well as being responsible for MTB's Dhaka division branches, banking operations division, infrastructure division, engineering department, special asset management division, credit monitoring department, and legal department. Chowdhury began his banking career with Janata Bank in 1981. He joined MTB as a member of its founding team in 1999.News:The Daily Star/3-Mar-2015