CIB weakness prompts BB to ask banks to submit monthly large loan status
The statement will have to be submitted within 10th of next month, said a circular Bangladesh Bank issued yesterday with immediate effect
Bangladesh Bank has asked all the schedule banks to submit monthly the large loan statement through the central bank’s web portal.
The statement will have to be submitted within 10th of next month, said a circular Bangladesh Bank issued yesterday with immediate effect.
The banks will also have to submit hard copy of the statement and soft copy of CIB statement to the Department of Off-site Supervision (DOS) of Bangladesh Bank until further notice.
The central bank has no accurate information about the large loans. As a result, it could not monitor the large loan clients and identify who are holding loans violating the rules, said a senior executive of Bangladesh Bank.
He said the Credit Information Bureau (CIB) of central bank is supposed to preserve the loan statement, but most of the information is inappropriate as it maintains the data provided by the banks. “There is no scope to recheck the information.”
The CIB, however, is supposed to be a most functional department as banks provides loans to the clients based on its clearance that a client is not already a defaulter. Unfortunately, the CIB remains non-functional, said the executive.
As a result, he said, the loan defaulters are getting loan through taking the advantage of the weakness in the CIB. Sometimes innocent people are being harassed due to CIB clearance with wrong information, he added.
Under the circumstance, the central bank has asked the banks to submit the large loan statement to the DOS, he said.
News:Dhaka Tribune/5-Age-2014
Al-Arafah Islami Bank opens ATM booth in Pirojpur
Md Habibur Rahman, Managing Director of the bank inaugurated the booth as chief guest, said a press release.
Md Golam Sorwar, UP Chairman of Bhandaria Sadar, Alhajj Siddique Hossain Talukder, Abul Bashar Gazi, local businessmen and Md Monjurul Alam, Senior Vice President and Zonal Head of AIBL Khulna Zone and SM Khalid Hossain Talukder, Manager of AIBL Vandaria Branch attended the function.
The bank has taken great initiatives to spread its ATM Booth Network to serve its clients more efficiently.
Clients of the bank will be able to use these ATM Booths 24 hours a day through their ‘AIBL FastCash’ ATM Cards.
Eastern Bank wins Global Brand Excellence Awards
Eastern Bank Limited was honored with the Global Brand Excellence Award for the second time The World Brand Congress.
Ali Reza Iftekhar, Managing Director and CEO of the bank received the Award at a ceremony held in conjunction with World Brand Congress in Singapore recently.
This year the award was given in ‘Brand Revitalization’ category in recognition to EBL’s sustainability in innovative branding, said a press release.
IBTRA arranges training for Shahjalal Bank officials
Islami Bank Training and Research Academy (IBTRA) arranged a 20-day foundation training course for 40 officers of Shahjalal Islami Bank Limited (SJIBL).
The inaugural ceremony of the course was held at IBTRA auditorium on Monday.
Mohammad Abdul Mannan, Managing Director of Islami Bank Bangladesh Limited, was present in the function as the chief guest while Farman R Chowdhury, Managing Director of Shahjalal Islami Bank as a special guest.
Presided over by IBBL Senior Vice-president and in-charge of IBTRA Mohammad Rokan Uddin, the function was attended by Md Setaur Rahman, DMD, and Md Nazimuddowla, Senior Vice-president of SJIBL, and Md Osman Goni and Saidur Rahman, Directors of IBTRA. — UNB
Chief of Indian bank arrested over bribery allegations
Indian police have arrested the chairman of the state-run Syndicate Bank over allegations he took bribes in exchange for loan extensions to private companies, a law enforcement official said Sunday.
The Central Bureau of Investigation (CBI) arrested Sudhir Kumar Jain in the southern city of Bangalore along with 11 others, including two directors of Delhi-based private firms, its spokeswoman said.
"We arrested him (Jain) late last night and he will be produced in court later today (Sunday)," the CBI's Kanchan Prasad told AFP.
The CBI, the country's top crime-fighting body, said it "laid a trap" and recovered five million rupees ($82,200) allegedly paid to Jain through middlemen by companies to win extensions on their loans.
The companies had been defaulting on loan repayments to the mid-sized bank amounting to tens of millions of rupees, the CBI said, adding that its investigation was ongoing.
A CBI statement said it had found "incriminating documents" related to the case after searching 20 places in four cities and had recovered cash, jewellery and property papers at Jain's residence.
The statement released late Saturday alleged Jain had given "undue favour to private companies by granting sanction to various financial proposals," both directly and through middlemen.
Jain's representatives could not be contacted for comment. In a similar case late last year, the CBI investigated a senior executive of India's top lender State Bank of India for allegedly taking bribes to sanction loans to a company.
News:The Daily Star/4-Age-2014