Business conference of Rupali Bank Limited (RBL) held at Dhaka North Divisional office recently, reprts in press release.

On the occasion Bank’s Managing Director M. Farid Uddin was the Chief gust. Deputy Managing Director Md. Khalilur Rahman Chowdhury, FCA General Manager and principal Nazrul Islam was the Special guest.

General Manager Abdul Mazid Shaikh presided over the program.

Rupali Bank Limited has been incorporated on 14 December 1986 under the Companies Act 1913 after taking over and acquiring as a going concern the undertaking and businesses of Rupali Bank with all of its assets,

liabilities, benefits, rights, powers, authorities, privileges, borrowings and obligations. Rupali Bank,

which initially emerged as a Nationalized Commercial Bank (NCB) under the Bangladesh Banks

(Nationalization) Order, 1972 (President’s Order No. 26 of 1972), has now become a state-owned commercial bank (SCB) through a vendor’s agreement dated 15 November 2007.

Bangladesh Bank (BB) has allowed the enterprises owned or operated by foreign companies, working in the country, for availing term loan facilities from local financial institutions.

Jagannath Chandra Ghosh, deputy general manager of Foreign Exchange Policy Department of the central

bank yesterday issued a circular to all the commercial banks and non-bank financial institutions in this regard.

The BB circular instructed that foreign owned and controlled companies engaged in manufacturing or services

output activities at least for the three years in Bangladesh can have access to term loans from the domestic market.

The equity of the foreign company will be considered as the pre requisition for availing the loan facilities from

the market. Meanwhile, the circular also directed financial institutions to follow the credit norms and prudential parameters including single borrower exposure limit, debt-equity ratio etc.

ADB has asked Bangladesh’s government to enact Financial Reporting Act

 ONE Bank Limited inaugurated two branches in Noakhali and Laxmipur recently.

One branch was inaugurated at Amishapara Bazar in Noakhali while another SME/Agriculture branch was opened in Laxmipur.

Sayeed H. Chowdhury, Chairman of ONE Bank Limited formally inaugurated the branches, said a press release.

On the occasion, he said that One Bank has the capacity to fulfill the need of the clients and meet their demand through progressive banking services.

 IFIC Bank recently organised a two-day-long training course on “Legal Aspects of Securities and Documentation” at the bank’s training institute at Motijheel in Dhaka.

Jahir Uddin Ferdous, Senior Vice President and Head of Credit Risk Management inaugurated the course.

Rashedul Alam, First Assistant Vice President and Head of HR Development and Talent Management, Md. Abdul Kadir, Senior Principal Officer and Barni Saha, Senior Officer of HR Development and Training Institute were present at the function.

A total of 29 participants from different branches of the bank participated in the training course.