Crackers break into Sonali security, steal $2,50,000

Posted by BankInfo on Sun, Feb 23 2014 10:54 am

Crackers broke into the Sonali Bank computer network and transferred at least $250,000 in the middle of 2013, a senior official said on Sunday.


M Aslam Alam, secretary (bank and financial institutions division) of the the finance ministry, divulged the scam in the presence of the finance minister, Abul Maal Abdul Muhith at the bank’s annual conference at the Sonargaon Hotel.


Aslam identified loopholes in the bank’s risk management system. ‘The bank has various risk factors which need to be properly identified and resolved.’


He said the looting of money from the bank’s Kishoreganj branch by digging a tunnel, breaking the password and loss of $0.25 million of the bank and inoperative closed circuit television cameras in the head office were all related to the risk management inefficiency.


Aslam criticized the bank’s business model by saying that ‘historically, Sonali Bank provided loans for corporate houses most of whom have became defaulters. The bank should change its business model and provide loans for small and medium enterprise across the country.’ 


He said that bank executives were enthusiastic about collecting deposits but were reluctant to disburse loans. ‘Such an attitude resulted in a negative loan and advance performance and a poor performance in earning operating profit in 2013,’ he said.


Aslam’s statement followed a series of fund embezzlement scams, including the one involving Hallmark loan.
Muhith said that the Sonali Bank loan scam incidents in 2012 had happened for lack of efficiency in internal control system of the bank.


‘To increase customer confidence in the bank the bank, the management should concentrate on increasing its internal control system,’ the minister said.


Muhith warned of the hassle of online banking saying that the bank should be aware of technical glitches of online banking.


The finance minister expressed his satisfaction about the banking sector performance saying that ‘the banking sector now stands on a strong footing with satisfactory expansion.’


The Sonali Bank board of directors chairman, AHM Habibur Rahman, presided over the conference where the bank’s managing director Pradip Kumar Dutta spoke.


The secretary identified the introduction of core banking as a serious challenge for the bank.


He said that risk management was not only a theoretical issue. ‘it is very much a practical one.’


Habibur Rahman admitted that the bank have the faults that the secretary identified and said the bank would now focus on SME.


He said that the Hallmark scam had happened because of the involvement of some unscrupulous bank officials.


He said that the bank had come out from the image crisis it suffered because of the Hallmark scam and it was giving priority to the recovery of defaulted loans and further business development.


The managing director gave picture of the bank’s performance in 2013 at the conference.

News:New Age/23-Feb-2014

ONE Bank opens branch in Kushtia

Posted by BankInfo on Sun, Feb 23 2014 10:36 am

ONE Bank Limited opened its 70th branch in Kushtia on Sunday.

Sayeed H. Chowdhury, Chairman, ONE Bank Limited, inaugurated the branch, said a press release.

Administrator of Zila Parishad of Kushtia Zahid Hossain Zafor, President of Kushtia Chamber of Commerce Alhaj Abul Kashem, Board of Directors of the bank Zahur Ullah, Kazi Rukunuddin Ahmed, Managing Director M. Fakhrul Alam and Senior Executives of the bank were present.

News:Daily sun/23-Feb-2014

MTBL opens booth at Motijheel

Posted by BankInfo on Sun, Feb 23 2014 10:25 am

Mutual Trust Bank Limited (MTBL) opened the 8th smart banking booth at Motijheel in Dhaka recently.

Syed M Altaf Hussain, Chief Executive Officer of WW Grains Corporation, inaugurated the booth including three modern Automated Teller Machines (ATMs) and Cash Deposit Machine, said a press release.

Anis A Khan, Managing Director and CEO of MTBL, a number of the bank’s customers, local elite, chamber and association leaders, renowned business personalities and senior officials of MTB attended the function.

News:Daily Sun/23-Feb-2014

EXIM Bank shifts Agrabad branch

Posted by BankInfo on Sun, Feb 23 2014 09:55 am

Md Nazrul Islam Mazumder, Chairman of EXIM Bank, inaugurates a shifted-branch at Agrabad in Chittagong on Saturday.

 

 Export Import Bank of Bangladesh Limited shifted its Agrabad branch to a new location at World Trade Centre in Chittagong on Saturday.

Md Nazrul Islam Mazumder, Chairman of EXIM Bank, inaugurated the shifted branch, said a press release.

Dr. Mohammed Haider Ali Miah, Managing Director and CEO of the bank, presided over the function.

Nasrin Islam, Mohammed Shahidullah, Md Nurul Amin Faruque, Khandakar Mohammed Saiful Alam, Directors, Md Sikander Khan, Independent Director and Md Fariduddin Ahmed, Adviser of the bank attend the inauguration function.

News:Daily Sun/23-Feb-2014

BRAC Bank opens new service outlet in Uttara

Posted by BankInfo on Sat, Feb 22 2014 11:38 am

Tamara Hasan Abed, Senior Director, Enterprises, BRAC, inaugurates an outlet at Uttara on Wednesday.

 

 BRAC Bank opened a new service outlet at Uttara on Wednesday to provide most modern banking services to its customers.

Tamara Hasan Abed, Senior Director, Enterprises, BRAC, formally inaugurated the outlet, said a press release.

Syed Mahbubur Rahman, Managing Director and CEO, and senior officials of the bank were also present.

News:Daily Sun/21-Feb-2014
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