Banks can receive repayment cheques fulfilling conditions

Posted by BankInfo on Mon, May 22 2017 09:15 am



Country's commercial banks can now receive repayment cheques against disbursed loans from their clients by maintaining three procedures, under revised rules.

The central bank revised its prudential guidelines for consumer financing and small-enterprise financing by adding a new regulation related to procedures of loan repayment.

Firstly, the banks will have to take authority for debiting money from their clients' accounts as per loan agreement.

Under the second procedural condition, a memorandum of deposit of cheque (MDC) has to be taken from the clients concerned.

Lastly, fully prepared and valid signed postdated cheques have to be taken for each installment by stipulating amount and date as per repayment schedule.

The Bangladesh Bank (BB) has already issued a notification to this effect, asking the chief executive officers (CEOs) and managing directors (MDs) of all scheduled banks to incorporate the new regulation into loan agreements with the clients.

"We've included the new regulation in our guidelines to avoid legal complexity for making repayment against disbursed loans by cheque," a BB senior official told the FE Sunday.

He also said the central bank took the latest measures to protect the interests of both banks and borrowers.

The central bank earlier had imposed a bar on the banks from receiving blank cheques as security from their clients against loan or investment to check fraud and forgery.

Besides, the CEOs and MDs of the banks had been asked not to entertain Non-Magnetic Ink Character Recognition (MICR) cheque as security.

"There is no scope to receive blank cheques as security against disbursed loans," the central banker said while replying to a query.

The BB has issued the new regulation in line with the existing negotiable instrument act.

news:financial express/22-may-2017

Mohammad Shamsul Islam joins NRB Global Bank as Deputy Managing Director

Posted by BankInfo on Mon, May 22 2017 08:38 am

Mohammad Shamsul Islam has joined NRB Global Bank Limited as Deputy Managing Director on May 18, 2017. Prior to joining NRB Global Bank, Shamsul Islam served AB Bank Limited as Executive Vice Presiden.

 Mohammad Shamsul Islam has a long track of 28 years job experiences in banking arena.

He started his professional banking career back in 1989 with AB Bank Limited as Probationary Officer. Later, he performed in the same bank in different capacity including Branch Manager and Divisional Heads in Head Office level.

 Shamsul Islam was born in Cox’s Bazar in 1963. He obtained his MBA on Banking from University of Dhaka. He is also a Diplomaed Associate of the Institute of Bankers, Bangladesh (DAIBB). Moreover, he attended different banking programs, trainings, seminars and workshops both in home and abroad.

news:daily sun/22-may-2017

Shamsul new DMD of NRB Global Bank

Posted by BankInfo on Mon, May 22 2017 08:30 am

Mohammad Shamsul Islam has joined NRB Global Bank Limited as Deputy Managing Director recently.


Prior to joining NRB Global Bank, Islam was the Executive Vice President of AB Bank Limited, said a press release.


Mohammad Shamsul Islam has a long track of 28 years job experiences in banking arena. Islam has started his professional banking career in 1989 with AB Bank Limited as Probationary Officer.


He served there in different capacity including Branch Manager and Divisional Heads in Head Office level.


He was born in Cox’s Bazar in 1963.


He obtained MBA on Banking from University of Dhaka.


He is also a Diplomaed Associate of the Institute of Bankers, Bangladesh (DAIBB).


He attended different banking programmes, trainings, seminars and workshops both at home and abroad.

news:daily sun/22-may-2017

SoftBank-Saudi high-tech Vision fund raises $93bn

Posted by BankInfo on Mon, May 22 2017 08:21 am

TOKYO: Japanese mobile carrier SoftBank said, with Saudi partners, it has raised nearly $100 billion in pledges to launch a major global fund for long-term, high-tech investments.

The SoftBank Vision Fund has received participation from industry titans and the likes of Apple, Qualcomm, and Taiwan's Foxconn and collected pledges totalling more than $93 billion so far, the fund said in a statement Saturday, reports AFP.

"The fund is targeting a total of $100 billion of committed capital, with a final close within six months," it said.

SoftBank announced its partnership with Saudi Arabia in October, with its flamboyant founder Masayoshi Son declaring that he was focused on the "Internet of Things," artificial intelligence and robotics.

Son was among the first business people to meet Donald Trump after his November election victory and pledged to invest $50 billion in the United States, winning open praise from the then-president-elect. The announcement comes as Trump visits Saudi Arabia as a part of his first overseas tour as president.

"Technology has the potential to address the biggest challenges and risks facing humanity today," Son said in the statement.

"The SoftBank Vision Fund...

will help build and grow businesses creating foundational platforms of the next stage of the information revolution," he said.

SoftBank has said it will put up about $25 billion for the Vision Fund over the next five years, while the Saudi public investment fund's contribution could reach $45 billion.

news:daily sun/22-may-2017

Moshiur made MD of AB bank

Posted by BankInfo on Mon, May 22 2017 07:59 am

Moshiur Rahman Chowdhury has been appointed as President and Managing Director of AB Bank Limited recently.
He joined the bank on 26th June 2003 as Vice President in Credit Risk Management Division, said a press release.
Lastly, he has been promoted to Deputy Managing Director and Head of Credit on 1st September 2013. He started his career with Sonali Bank in 1984 as Senior Officer (Financial Analyst) after completion his B.

Com (Hons) and M. Com (Accounting) in 1984 from University of Dhaka.
During his 33 years of service in the banking industry, he served in different important capacities like Credit Analyst, Manager of Foreign Trade Branch, Credit Controller and In-Charge, Uk Operation (Sonali Bank), Head of SME Business Division, Head of Corporate and Structured Finance Division, Head of Credit Risk Management Division, AB Bank.
He participated in many long and short term training programs, workshops and seminars at home and abroad.

news:daily sun/22-may-2017
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