The existing service tenure of Sonali Bank MD will be expired on June 16

Bangladesh Bank yesterday waived the single borrower exposure limit in case of financing the construction of Padma Bridge.
“The decision has been taken considering the importance of the bridge and the government priorities,” BB said in a notice.
Banks are forbidden from extending loans that exceed 35 percent of their total capital at any point of time to a single party.
For instance, if a bank's capital stands at Tk 1,000 crore, it cannot lend more than Tk 350 crore to a single borrower.
The exposure limit would not be applicable for contractors of the Padma Bridge, whose construction is expected to start in September, according to Communications Minister Obaidul Quader.

When constructed, the 6.15-kilometer-long bridge will directly connect 21 districts in the southern part with capital Dhaka.
The bridge project hit a snag as the World Bank in 2012 cancelled its $1.2 billion credit, saying it had proof of a corruption conspiracy involving Bangladeshi officials, executives of a Canadian firm and individuals.

The government has set aside another Tk 5,000 crore in the proposed budget to inject as fresh capital into the increasingly weakening state banks, to cover up the messes largely created by politically appointed boards.
Finance Minister AMA Muhith spoke of the allocation to a group of reporters at his secretariat yesterday.
In the outgoing fiscal year, the state banks were allocated Tk 4,405 crore to meet capital deficits, of which four banks received Tk 4,100 crore.
The boards of the state banks were reconstituted in fiscal 2009, and most of the appointees were picked on politically motivated favouritism. In the last term of the government, various scams, including the one involving Hall-Mark, led to hollowing of the banks' financial bases.
Allegations are rampant that the scams took place due to interference by the politically appointed directors.
Muhith admitted the political appointments, saying; “In some cases there were mistakes in our choices. As a result, some irregularities may have taken place.”
“Some political appointments are made to the board of directors and that will continue in future.” However, regulations will be put in place to avert undue interference, he said.
In September last year, loan defaults of the state banks increased, and the combined capital deficit had risen to Tk 8,863 crore.
After the government had pumped funds into the banks, they showed capital of Tk 11,409 crore by December, with a surplus of Tk 855 crore.
However, the International Monetary Fund projects many of the state banks will require even more capital in 2014, as their loan portfolios will further deteriorate from necessary rescheduling of many of the loans currently adjudged under a relaxed rescheduling policy.

 As part of a month-long green banking campaign, Modhumoti Bank Limited organised a workshop on ‘Green Banking’ at the bank’s Motijheel branch in Dhaka on Sunday.

Md. Mizanur Rahman, Managing Director and CEO of the bank inaugurated the workshop. Md. Touhidul Alam Khan, Deputy Managing Director (Business) of the bank was present, said a press release.

 The Central Shariah Board for Islamic Banks of Bangladesh organised a six-day-long training programme on “Islamic Banking and Finance” at Exim Bank Training and Research Academy in Dhaka recently.

Total 45 executive officers and officers from different Shariah banks and organisations that operate Shariah banking activities and the Bangladesh Bank participated in the training, said a press release. Dr. Mohammed Haider Ali Miah, Managing Director of Exim Bank attended the function.