shtiaque Ahmed Chowdhury, Managing Director & CEO of Trust Bank Limited (left) attending International Seminar on Sustainable SME Development in Bangladesh on 30 April at CIRDAP CICC Auditorium, Dhaka as an expert speaker opinion organized by Bangladesh Bank, CIRDAP, BIBM, MIDAS (UK) in a joint effort.
Dr. Atiur Rahman, Governor, Bangladesh Bank was Chief Guest; Md. Abul Quasem, Deputy Governor, Bangladesh Bank where Special Guest; Michael Alfred Sippitt, Chairman, CEIP, UK, was International Speaker And Shankar Rele, George Mammen Abraham, Dr. Cecef Effendi, Dr. Toufic Ahmed Chowdhury were also attended at this seminar with more distinguished moderators, panelists & guest’s.

Bank Asia on Saturday launched its mobile financial service ‘Hello’ aiming to bring huge number of unbanked population under financial service network.
The launching prog-ramme was held at Spectra Convention Centre at Gulshan in Dhaka yesterday, says a press release.

A M Nurul Islam, vice-chairman of the bank, was present as chief guest while Dasgupta Asim Kumar, executive director of Bangladesh Bank, was special guest at the programme.
The new initiative has a number of features including cash-in, cash-out, foreign remittance payment, fund transfer, utility bill payment, merchant payment, salary disbursement and tuition fee collection.
Bangladesh BancNet Ltd will provide required system support and distribution management services to the project.

Sayeed H. Chowdhury, Chairman, Board of Directors, ONE Bank Limited, presides over 15th Annual General Meeting (AGM) of the bank at the Police Convention Centre in Dhaka on Thursday.
 ONE Bank Limited approved 10 percent stock dividend and 9 percent cash dividend for its shareholders.

The announcement came at the 15th Annual General Meeting (AGM) of the bank held at the Police Convention Centre in Dhaka recently.

Sayeed H. Chowdhury, Chairman of the Board of Directors of the bank chaired the AGM.

In the AGM, the bank announced 10 percent stock dividend and 9 percent cash dividend.

Asoke Das Gupta, Vice Chairman, Directors of the bank Zahur Ullah, ASM Shahidullah Khan, Kazi Rukunuddin Ahmed, Shawket Jaman, Salahuddin Ahmed, Syed Nurul Amin, Managing Director M. Fakhrul Alam and Company Secretary John Sarkar along with other senior executives of the bank were present.

A large number of shareholders were also present in the AGM.

UCB Managing Director Muhammed Ali (3rd from left) is seen along with other high officials at a Business Review Meeting and Press Meet at Banquet Hall of Chittagong Club in the port city on Saturday.
 CHITTAGONG: United Commercial Bank Limited (UCBL) has taken an initiative to improve its service further through introduction of more client-friendly products as a part of financial inclusion.

The initiative was taken after UCBL was selected as the best bank in Bangladesh in the category of Best Emerging Markets Banks in Asia Pacific Region for 2014 by finance magazine Global Finance.

As part of the initiative, UCB authority held a business conference for its branch managers in Chittagong zone at Chittagong Club in the port city on Saturday.

Participants at the business conference discussed different aspects of strategic development of the bank alongside total financial excellence, said UCB Managing Director (MD) Muhammed Ali at a press conference held following the conference. UCB offers services focusing on health, property development and SME sectors. It also provides assistance for promoting exports and flourishing tourism, he said.

The UCB MD at the press conference observed that selection of UCB as the best market bank by world famous finance magazine is undoubtedly an achievement of UCBL and the country as a whole.

Bangladesh Bank has requested the National Board of Revenue for not deducting tax at source at the rate of 10 per cent on commission commercial banks receive on sales of prize bonds and national savings certificates, BB officials said.
They said that deduction of tax at source would cause double taxation on same income of the banks.
In a letter to the revenue board, the debt management department of the central bank on May 6 requested the NBR to inform its decision on the issue as soon as possible.
The revenue board in March directed the central bank to deduct 10 per cent income tax at source on commission payable to commercial banks on sales of prize bonds and savings certificates.
The deduction of tax at source will be applicable to the commission the banks have been getting since July 1, 2011 on sales of those two investment schemes, according to the NBR decision.
The BB in its letter stated that the article 52AA of the Income Tax Ordinance-1984 would not be applicable to the sector on sales of prize bonds and savings certificates.
The article deals with some specific services and payment of commission on sales of prize bonds and savings certificates is not relevant with it, it said.
On the other hand, banks pay 42.5 per cent corporate tax on its annual income calculated including different types of commission and fees.
So deduction of tax at source will not be applicable to the commission, the letter stated.
Officials of the revenue board said that the article would applicable to the sector under other services category.
The NBR, however, will examine the request made by the central bank, they said.