IFIC Bank Limited signed a participation agreement with the Bangladesh Bank under the central bank’s refinance scheme for jute sector.

Shah A Sarwar, Managing Director and CEO of the bank, and Provash Chandro Mallik, General Manager (ACFID) of Bangladesh Bank, signed the deal on behalf of their respective organisations in Dhaka recently, said a press release.

Deputy Governor of Bangladesh Bank SK Sur Chowdhury and concerned officials of the organisations, among others, were present on the occasion.

The repayment rate under the “Ghore Phera” programme for slum dwellers has been very high, a development which prompted the central bank yesterday to put another Tk 2 crore into the scheme.

Introduced in 1999 by the Krishi Bank with the aim to rehabilitate slum dwellers back to their native villages, the programme has so far seen recovery rates of 87 percent, according to Md Abdus Salam, the bank's managing director.

The loan carries a 6 percent simple interest payable in 10 years in 120 instalments.

So far, 970 individuals have been rehabilitated in their own villages, he said, adding that 30 percent of them later returned to cities in search of employment.

At an agreement-signing programme yesterday at the Bangladesh Bank headquarters, Atiur Rahman, governor of the central bank, said more funds would be made available for the scheme.

Thanks to the fund injection, the guideline of the loan programme has been changed and the ceiling upped, Salam said. Earlier, a person could take a maximum loan of Tk 50,000 but now the ceiling will be raised to Tk 1 lakh.

Other ceilings too have been increased. For example, for house building a person can now take out a maximum loan of Tk 50,000 loan instead of Tk 7,000 as before.

 Al-Arafah Islami Bank Ltd distributed relief goods among the flood-hit people of different areas in Bogra on Saturday as part of its Corporate Social Responsibility (CSR). Md Habibur Rahman, MP, inaugurated the relief distribution programme at Chikashi under Dhunat upazila.

Deputy Commissioner of Bogra Md Shafiqur Rahman Biswas, Police Super Md Mozammel Haque, UNO of Dhunat Md Hafizur Rahman, local Chairman AKM Towhidul Alam Mamun and Mayor of the municipality AGM Badshah were present as special guests.

Among others, Director of the bank Alhajj Abdul Malek Mollah, DMD Md Golam Rabbani, Executive Vice-President Syed Masodul Bari, Senior Vice-Presidents Engr Md Habib Ullah and Abed Ahmed Khan, Zonal Head of AIBL Bogra Zone Md Abul Basher and Assistant Vice-President Jalal Ahmed were also present on the occasion.

 Modhumoti Bank Training Institute organised a training programme on “Credit Proposal Processing and Green Banking” for the credit department officers of the bank.

Md. Mizanur Rahman, Managing Director and CEO of the bank inaugurated the training programme on Saturday, said a press release.

 Standard Bank Limited recently donated Tk 30 lakh to Proyash, a specialised school for children with special needs, to construct its new branch in Ghatail Cantonment.

Standard Bank Chairman Kazi Akram Uddin Ahmed handed over a cheque to Chief of Army Staff General Iqbal Karim Bhuiyan at a function in Dhaka recently.