Md. Shahabuddin Alam , Alhaj Akram Hussain

Md. Shahabuddin Alam has been elected Chairman of Risk Management Committee and Alhaj Akram Hussain (Humayun) has been elected Chairman, Executive Committee of Mercantile Bank Limited.
Meanwhile, MS Ahsan and ASM Feroz Alam were elected vice chairmen of the bank.
Md. Shahabuddin Alam, during his long career for 24 years, expanded business networks in oil refinery, manufacturing and service sectors as chairman of all units under S.A Group of Industries. He is also engaged in multipurpose CSR activities in the country and made substantial contribution to this field.
MS Ahsan, a renowned businessman of the country is one of the Sponsor Directors of Mercantile Bank Limited.
After completing post graduation in Social Science from the University of Dhaka, he engaged in the export-import business. He is the owner of “Ahsan Group”.
Ahsan is the Managing Director of Raima Fashion, an export-oriented apparel industry. He is the owner of Friends Traders, RNS Corporation and multi-storied commercial building “Shawdesh Tower”.
He is also Chairman of AG Agro Industries, Regent Holding Development Ltd, Capital Holding & Development Corporation, AG PET Limited, Shawdesh Builders Ltd, Home Apparels Ltd, AG Ceramics Ltd, “AG Property Developments Ltd” 

Considering the demand of the country’s entrepreneurs and investors, the state-owned Sonali Bank Limited has reduced interest rate against loans and advances for some specific sectors.

The sectors are capital loan, project loan, SME loan, general loan and commercial loan.

The bank has reduced interest rate by 1 percent from its existing rate of interest on project loan while it has brought down interest rate by 1.5 percent from the existing rate in case of working capital loan.

Sonali Bank has also lowered interest rates on SME loan by 1.5 percent to 2 percent from its existing rate while it cut the rate by 0.50 percent to 1.50 percent in case of general loan and commercial loan.

The bank has also reduced interest rate on NGO linkage financing by 0.50 percent from its existing level.

AK Azad

AK Azad, Managing Director of Ha-Meem Group of Industries was re-elected Chairman of Shahjalal Islami Bank Limited.

Alhaj Mohammad Younus and Alhaj Md. Abdul Barek were elected Vice-Chairmen of the bank, said a press release.

The election was held at the 198th meeting of the Board of Directors of the bank held at the bank’s head office in Dhaka on Sunday.

Azad is Managing Director of Channel 24 and the Daily Samakal, Sponsor Shareholder of Sonar Bangla Insurance Limited and former president of FBCCI.

After receiving honors degree in Applied Physics from University of Dhaka, Azad concentrated in business.

He got engaged in jute, textiles, tea and readymade garments business. His contribution to creating employment in the country is praiseworthy.

Md Younus is the Managing Director of Sobhan Ice and Cold Storage Ltd, Younus Filament Industries Ltd, Younus Plastic Industries Ltd, Younus Cold Storage Ltd, Quality Accessories Ltd, Ananta Paper Mills Ltd, Younus Fine Paper Mills Ltd, Younus Spinning Mills Ltd, Sonali Paper and Board Mills Ltd, Sharif Cold Storage Ltd, Younus Newsprint Mills Ltd, Younus Offset Paper Mills Ltd and also Director of NTV.

Md Abdul Barek is a sponsor shareholder of Shahjalal Islami Bank Ltd and Shahjalal Islami Bank Securities Limited. He is the proprietor of Arju Electronics, Jony Electronics and Rony Electronics.

A file photo shows an automated teller machine booth in the capital. Bangladesh Bank has recently asked eight scheduled banks, attached to the National Payment Switch Bangladesh, not to charge clients more than the stipulated Tk 10 for each inter-bank transaction through ATMs. 

Bangladesh Bank has recently asked eight scheduled banks, attached to the National Payment Switch Bangladesh, not to charge clients more than the stipulated Tk 10 for each inter-bank transaction through automated teller machines.
The central bank has recently found allegations against the banks that some of them imposed higher charge on the clients through ATM transactions violating the BB directions.
Against the backdrop, the central bank issued separate letters on June 19, 2014 to the eight banks asking them to follow strictly the BB regulations.
The eight banks are: Dutch-Bangla Bank, BRAC Bank, Prime Bank, Pubali Bank, Islami Bank Bangladesh, Mutual Trust Bank, Southeast Bank and Al-Arafah Islami Bank.
The eight banks earlier joined in the NPSB and a number of banks are now taking preparation to get attached to the domestic payment gateway.
The NPSB is now playing the role of a ‘mother switch’ and it will gradually connect all ‘child switches’ owned or shared by the scheduled banks in the country.
The child switches, which are ATM, point on sale, electronic commerce, internet banking, mobile banking and other online-related banking services offered by banks, will be brought onto a common platform of the NPSB under the central bank strengthening project.
The BB set the charge at Tk 10 on March 18, 2014 for each inter-bank transaction for clients through ATM under its NPSB project.
The central bank also set charge at Tk 5 for mini statement or balance inquiry in the inter-bank transactions through ATMs under its NPSB project.
According to the BB circular about the ATM charge, the card (debit or credit card) issuer banks will have to pay Tk 20 to the ATM owner banks for each inter-bank transaction.
The card issuer banks will have to impose a maximum charge of Tk 10 for each inter-bank transaction for its clients through the ATM machines, meaning that the card issuer bank will have to pay a subsidy of Tk 10.
The card issuer banks, however, will receive the full charge of Tk 5 from their clients if they (clients) collect mini statement or search their balance position through the ATMs.
A BB official told New Age on Wednesday that some scheduled banks had earlier complained against the central bank’s move saying that the new charge set by the BB was not viable for their business.
The banks, which set up the majority number of ATM booths, say that they will not be able to avail from the central bank initiative as their maintenance cost is higher than that of the BB charge, he said.
The central banker said, ‘The BB thinks that the ATM charge under the NPSB is viable enough for the banks.’

The finance division is preparing a letter for the banking and financial institutions division with a proposal to inject funds for acquiring right shares in the two private companies