BB approves Tk 200cr refinance fund for farmer bank accounts

Posted by BankInfo on Thu, Apr 24 2014 11:20 am

A file photo shows farmers sowing potato seeds on a land in Munshiganj. The Bangladesh Bank board on Tuesday approved a fresh refinance fund worth Tk 200 crore for making active bank accounts with Tk 10 deposits of marginal and landless farmers.

The Bangladesh Bank board on Tuesday approved a fresh refinance fund worth Tk 200 crore for making active bank accounts with Tk 10 deposits of marginal and landless farmers, said officials of the central bank.
The marginal and landless farmers, small shop owners, hawkers and people affected by river erosion having the Tk 10 accounts will get loans under the refinance scheme with a 12 per cent to 20 per cent interest rate.
The BB board also approved separate two regulations – Bangladesh Payment and Settlement System Regulation, 2014 (amended) and Regulation on Electronic Fund Transfer – at the meeting.
BB governor Atiur Rahman presided over the meeting at the central bank headquarters in the capital.
BB spokesperson and executive director M Mahfuzur Rahman told New Age on Tuesday that the clients would count 20 per cent rate of interest if they received the loan from the refinance fund through the linkage of non-government organisations.
The clients, however, will have to count 12 per cent interest rate if they received the loans through the scheduled banks.
The banks will receive the fund from the central bank with interest rate of five per cent.
A client will get maximum Tk 50,000 in credit from the banks for one year.
The banks including Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank and BASIC Bank opened more than 1 crore accounts with initial deposit of only Tk 10.
But the majority of the accounts are now inactive, the BB official said.
He said the banks would disburse the loan under the refinance fund for income generating activities.
According to the approved Bangladesh Payment and Settlement System Regulation, 2014 (amended), the country’s payment system operators and payment system providers will have to procure licences from the BB to conduct their business operation.
Payment system operator (PSO) refers to an entity for operating a settlement system for payment activities between participants of which the principal participant must be a scheduled bank or financial institution.
The PSOs are settling inter-bank transaction between banks and clients through automated teller machines.
Q-Cash, Cashlink Bangladesh and OMNIBUS are now providing such type of services in the country’s baking sector.
The PSOs and the PSPs will have to maintain a capital structure in a bid to mitigate their financial risks, according to the BB’s amended regulation.
From now on, the BB will monitor and supervise the PSOs as they are now brought under the central bank’s licencing, the BB official said.
‘The inter-bank settlement through ATM and point-on-sale increased significantly in the last few years. The settlement is mainly completed through the PSOs, so it is important to monitor them,’ he said.

News:New Age/23-Apr-2014

AB Bank re-elects chairman, vice-chairman

Posted by BankInfo on Thu, Apr 24 2014 11:14 am

M Wahidul Haque has recently been re-elected the chairman and Salim Ahmed the vice-chairman of AB Bank, said a news release.
Wahidul joined AB Bank board in 2007. He also sits in the board of Amana Bank, the first Islamic Bank in Sri Lanka, Cashlink Bangladesh and AB Investment.
Salim is also the managing director of the Elite Group of Companies and the president of Bangladesh Paint Manufacturing Association.

News:New Age/24-Apr-2014

Mobile banking users top 1.5cr

Posted by BankInfo on Thu, Apr 24 2014 11:05 am

Bangladesh Sangbad Sangstha . Dhaka

The number of users of mobile banking in the country has crossed 1.5-crore mark.
At this moment, clients of Mobile Financial Services have reached 1,50,23,604, as 4 lakh new people joined the service in March, a Bangladesh Bank official told the news agency on Wednesday.
According to BB statistics, the clients’ mobile banking transaction in March was 14 per cent more than February.
According to BB officials, remittance, salary, utility bill payment, merchant payment and other banking are being conducted through mobile banking.
The central bank has given permission to 28 banks to offer the mobile banking services and so far 20 banks have introduced the services.
At present, on an average the daily transaction number is around 8 lakh while transaction amount is around Tk 200 crore.

News:New Age/24-Apr-2014

IBBL signs an agreement with Hajj Agencies Association of Bangladesh (HAAB)

Posted by BankInfo on Thu, Apr 24 2014 10:55 am

Dhaka : Islami Bank Bangladesh Limited and Hajj Agencies Association of Bangladesh (HAAB) sign a Memorandum of Understanding (MoU) at Islami Bank Tower on April 20, 2014. In presence of Mohammad Abdul Mannan, Managing Director of the Bank, the agreement was signed by Mohd. Shamsul Haque, Deputy Managing Director of Isalmi Bank and Md. Ebrahim Bahar, President HAAB on behalf of their respective sides. A.K.M. Abdul Malek Chowdhury, Md. Mahbub-ul-Alam, Rafi Ahmed Begh, Nurul Islam Khalifa, Deputy Managing Directors of the Bank along with high officials and executives of the both organizations were present on the occasion.

News:Bangladesh Today/24-Apr-2014

BB working to create jobs for Rana Plaza volunteers

Posted by BankInfo on Thu, Apr 24 2014 10:40 am

The central bank has taken an initiative to provide Rana Plaza volunteers with jobs at various banks and financial institutions.
A database of the volunteers along with their curriculum vitae is being prepared and will be shared with different banks and financial institutions, Bangladesh Bank said in a statement yesterday.
The BB will then take measures to provide jobs to the volunteers, it said.
The central bank has already provided honourary certificates and cash Tk 5,000 to each of the 135 volunteers selected from a list prepared by the armed forces, it said.
The BB also expressed condolence to the families of the dead in the Rana Plaza tragedy. It said BB and other banks deposited Tk 100 crore as grant to the Prime Minister's relief fund for the affected.
From the central bank's CSRF fund, Tk 1 crore was given as grant to the Fire Service and Civil Defence to purchase fire fighting equipment, it said.
Besides, to raise safety in the garment sector, a special financing programme was taken by the BB with the financial assistance of Japan International cooperation Agency.

News:The Daily Star/24-Apr-2014
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