In the purpose of providing shariah based modern banking service Union Bank Ltd. has been inaugurated its Khulna Branch on 26th June, 2014 at Munna Tower (1st Floor), KD Avenue, Shibbari More, Khulna Sadar, Khulna, informed by the authority.
Deputy Managing Director of Union Bank Ltd. Mr. Syed Abdullah Mohammed Saleh inaugurated the Branch. Among others chairman of Khulna chamber of commerce and industries Kazi Aminul Haq, Head of GSD Mr. Md. Abul Kalam, Branch Manager, Renowned Businessmen, Industrialists, Local Elites, Executives and Officers of the Bank were also present on the occasion. A Doa-Mahfil was also organized on the occasion. The Bank is committed to play the leading role in the economic development and Industrialization of the Country.

Dhaka-UCash, mobile financial service of United Commercial bank Limited (UCB) recently signed an agreement with Progressive Life Insurance Company Limited at the Corporate Head Office of UCB. As per the agreement, Insurance premium collection of Progressive Life Insurance Company Limited all over the country will be initiated through UCash, informed by the authority.
On behalf of UCB Honourable Additional Managing Director of UCB Mr. Mirza Mahmud Rafiqur Rahman and Head of Mobile Financial Services of UCB Mr. Mir Jahir Uddin Ahmed and on behalf of Progressive Life Insurance Company Limited Managing Director Dr. Syed Tanvir Alam; Deputy Managing Director Mr. Md. Golam Rasul; CFO Mr. Shadhan Chandra Das, FCA along with other senior officials of both the organizations were present at the event.
United Commercial Bank Limited is the finest private commercial banks of the country with innovative products and services for its clients.

The government would soon reshuffle the board of directors of state-owned commercial and specialized banks, Finance Minister AMA Muhith said on Saturday.

Of the eight state-owned banks, Sonali Bank, Agrani Bank, Janata Bank and Rupali Bank are commercial banks and the rest four are specialized public banks. These are: BASIC Bank, Bangladesh Development Bank, Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank.

The minister did not specify whether all the eight state-owned banks would see new board of directors soon.

He said the new government reelected through the January 5 election would reorganise the board of directors of the state-owned banks to streamline the activities of public banks and establish more discipline and transparency in the banking sector.

The minister, however, said it was hard to identify the proper persons for reorganising the board of directors of banks.

The finance minister was responding to queries from journalists who gathered at his secretariat office to know about the resignation of BASIC Bank chairman Sheikh Abdul Hye Bachchu.

Sheikh Abdul Hye Bachchu submitted his resignation to the finance minister at his residence on Friday against the backdrop of allegations of corruption, irregularities and misappropriation of funds by the board of directors of the specialized bank.

Besides appointing a new chairman of the BASIC Bank, the government would also bring changes to the board of directors of this bank, the finance minister added 

A woman buys bitcoins at one of Southern California's first two bitcoin-to-cash ATMs in Venice, California. 

Banks in the European Union should refrain from offering customer accounts in virtual currencies like bitcoins until regulatory safeguards are in place, the bloc's banking watchdog said on Friday.
The EU's executive European Commission responded by saying it was imperative to look quickly at possible regulation.
Bitcoin, the best known of the 200 or so computer-generated currencies, started circulating in 2009, and acceptance has been growing as more merchants allow customers to pay for goods and services in the currency.
Virtual currencies, which unlike conventional money are not backed by a central bank or government, have come under particular scrutiny since Tokyo-based exchange Mt Gox went bankrupt in February after losing an estimated $650 million worth of customer bitcoins.
The European Banking Authority (EBA) in a study published on Friday proposed a new regulatory framework along with advice to banks to steer clear of virtual currencies until rules are in place.
"This immediate response will 'shield' regulated financial services from virtual currency schemes and will mitigate those risks that arise from the interaction between virtual currency schemes and regulated financial services," the EBA said.
So far there has been no coordinated, global approach to regulating virtual currencies, making the EBA plans the first comprehensive blueprint. No country has yet given virtual currencies legal tender status. The advice to banks would still allow financial firms to maintain a current or checking account relationship with businesses active in virtual currencies, it added.
Among the new rules it wants to see in place is a requirement for the currency exchanges to hold capital so that if they go bust, as in the case of Mt Gox, there are resources to cushion customers.
The EBA study identifies more than 70 risks to users, market participants and to the financial system, such as money-laundering and other financial crimes, from the spread of virtual currencies in an unregulated market.
The watchdog is particularly alarmed at how a group of so-called miners - who unlock new bitcoins online - have taken control of the currency, allowing them to block transactions if they want to.
The EBA said rules are needed so that when a virtual currency scheme is created, it cannot be changed at a whim just because someone has enough computer power.
It is also concerned that miners, payers and payees can remain anonymous, while IT security cannot be guaranteed and the financial viability of some market participants remains uncertain.

Dhaka Bank Limited, speaks at a ceremony on the occasion of the bank’s 19th anniversary at the bank’s head office at Motijheel in Dhaka on Saturday. Dhaka Bank Limited celebrated its 19th anniversary at the bank’s head office at Motijheel in Dhaka on Saturday.
Mirza Abbas Uddin Ahmed, Founder and Director of Dhaka Bank Limited attended the function along with other high officials of the bank, said a press release.
Professor Moulona Salah Uddin conducted the Doa Mehfil.
Meanwhile, Dhaka Bank donated Tk 12 lakh to SEID Trust, a school for autistic children.
The cheque was formally received by Chairperson of SEID Trust Ranjan Karmoker.
Reshadur Rahman, Former Chairman and Director, Altaf Hossain Sarker, Mohammed Hanif, Md Amirullah, Mirza Yasser Abbas, Directors, ATM Hayatuzzaman Khan, Former Chairman and Sponsor Shareholder, Khandaker Mohammad Shahjahan, Former Director of the bank were present.