Four specialised banks will have to fulfil certain conditions to open new branches.
The restrictions were imposed yesterday mainly to minimise the misuse of government funds in the banks.
The Banking Division yesterday sent letters to the four banks -- Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank, Karmasangsthan Bank, and Ansar-VDP Unnayan Bank -- saying they would have to meet six conditions for opening new branches.
As these banks run on government funds they have to follow the guideline, the letter said.
An official of the Banking Division said these banks have many loss-making branches and the restrictions have been imposed to minimise their losses.
The government would give permission for opening new branches only when 80 percent of their branches will become profitable.

A bank will not open a new branch in an area if there is another branch of the same bank within 10 kilometres, according to a condition.
If additional budget and manpower are required for opening a new branch, the proposal has to be sent to the Banking Division along with the recommendation of the board of the concerned bank by September every year.
After obtaining the approval, the proposal will have to be okayed by Bangladesh Bank.
According to a separate condition, the two agriculture-related banks will have to inform the government when the new branches will become profitable.
The banks' 90 percent branches should be at the Union Parishad level, according to another condition.

The central bank yesterday asked all scheduled banks to keep their branches open on January 3 and 4 (Friday and Saturday) ahead of January 5 polls. The central bank issued the directive to help election officials and the members of law enforcing agencies conduct their cash transaction and clearing activities ahead of the parliamentary election. Banks, however, will remain closed on January 5 (Sunday).

Al-Arafah Islami Bank Limited organised a ‘Clients’ Meeting’ to mark the year ending 2013 followed by a banquet at the bank’s Motijheel office in Dhaka on Monday.

Md. Habibur Rahman, Managing Director of the bank was present in the meeting as chief guest, said a press release. AZM Shamsul Alam, founder chairman, Abdul Malek Mollah, Director, Md. Mofazzal Hossain, Kazi Touhidul Alam, Md. Golam Rabbani and Md. Abdul Jalil, Deputy Managing Directors of the bank were also present on the occasion.

Md. Fazlul Karim, Branch Manager and Executive Vice President of the bank hosted the meeting and the banquet. A large number of clients and well-wishers participated in the ceremony.

Export Import Bank Bangladesh Limited has launched two new deposit products, “Exim Ziadiah” and “Exim Ruhama.”

Dr. Mohammed Haider Ali Miah, Managing Director of the Bank officially launches these products as chief guest at a function at a function at the bank’s head office on Wednesday, said a press release.

Md. Fariduddin Ahmed, Adviser and DMD, M. Sirajul Islam, Sirajul Haque Miah, DMDs, Khondoker Rumy Ehsanul Haq and top executives of Exim Bank head office and corporate branch also attended the programme.

Dr. Mohammed Haider Ali Miah says, “EXIM Bank is a customer friendly bank and we always design our products according to the clients’ demand.”

Abu Zafar Hedaytul Islam recently promoted to Deputy Managing Director of Trust Bank Limited.

Prior to his new assignment, he was the Senior Executive Vice President of the bank, said a press release.

He joined the bank as Senior Vice President in October 2003. Before his joining the Trust Bank he worked in Eastern Bank Limited.

He started his banking career as Probationary Officer at IFIC Bank in 1986.

He completed his SSC and HSC examinations from Jhenidah Cadet College, he obtained Hons’ and Master’s degrees in Economics from the Dhaka University.