Dutch-Bangla Bank Limited (DBBL) signed an agreement with and Nitol Motors Limited for Nexus Payment Gateway Service.

Abdul Matlub Ahmad, Chairman of Nitol-Niloy Group and KS Tabrez, Managing Director of DBBL signed the agreement on behalf of their respective organisations in Dhaka on Tuesday, said a press release.

As per the agreement, customers will be able to book or purchase the motor vehicles of Nitol Motors Limited from anywhere any time through Internet by using DBBL Nexus Debit Card, MasterCard and Visa card, said a press release. 

Al-Arafah Islami Bank will distribute free SIM cards among five thousand pilgrims during the Hajj this year, says a press release.
In this connection the Bank signed a memorandum of understanding (MoU) with Intraco Limited yesterday. Managing Director of the Al-Arafah Bank, Habibur Rahman, was present at the signing ceremony while Deputy Managing Director of the bank, Golam Rabbani, and Deputy Managing Director of Intraco Limited, Irad Ali, signed the MoU.
Habibur Rahman thanked Intraco Limited for providing support for free SIM distribution programme, the statement said. 
According to the newly signed MoU, Intraco will provide the bank five thousand SIM cards with balance of 10 Saudi Real, which is usable in Saudi Arabia. 

The finance minister AMA Muhith will select the managing directors of the two state-owned banks Agrani, specialised BASIC and Grameen Bank

Mohammad Lutfar Rahman, chairman of the executive committee of IFIC Bank, has recently been reelected as the chairman of Nepal Bangladesh Bank Ltd (NBBL), a joint venture operation of IFIC Bank in Nepal.
The election took place at NBBL's 19th annual general meeting in Kathmandu on Sunday, IFIC said in a statement yesterday.
Arijit Chowdhury, director of IFIC Bank, and Shah Alam Sarwar, managing director, were also elected as directors of NBBL.

India's central bank governor Raghuram Rajan has said crony capitalism is emerging as a "real concern" in India and a major threat to competition and economic growth.

The term describes instances when governments give firms or individuals favourable treatment and allow conglomerates undue political influence.

"One of the greatest dangers to the growth of developing countries is... crony capitalism (which) creates oligarchies that slow down growth," Rajan said in a lecture late Monday in Mumbai.

During the recent Indian elections that brought the right-wing Bharatiya Janata Party to power, crony capitalism emerged as "a very real concern of the public", Rajan added.

The issue has come to the fore in Asia's third-largest economy where critics allege many business houses have benefited from political favours -- accusations strongly denied by the companies.

The upstart Aam Aadmi (Common Man) party accused India's hugely profitable Reliance Industries of wielding undue political backroom power during this year's campaign.

India's Supreme Court has also waged a vigorous fight against instances of government contracts being awarded to various companies on the basis of possible collusion.

Rajan, a former chief economist of the International Monetary Fund, is known for his outspoken nature, breaking the mould of central bankers globally who are generally extremely guarded.

"By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth," Rajan said.

The phenomenon also harmed democracy, he added, as companies placed special interests ahead of the public good.

Rajan noted in India there was a widely held view that the country "suffers from want of a 'few good men' in politics".

But groups of politicians with the intent of cleaning up the system lost badly at election time, possibly because their corrupt rivals promised more help to the underprivileged, he said.

To avoid this trap, and to strengthen India's democracy, the country must improve public services, Rajan added, especially those targeted at the country's hundreds of millions of poor.