A special fund is likely to be introduced soon by the Bangladesh Bank for making the ‘Taka 10’ bank accounts effective, especially for the marginal farmers who do not have enough savings to keep their accounts moving.

Only 30% of the over 13m such accounts are now active in real terms with regular transactions by their holders, according to a senior official of the central bank.

“Yes, most of the Tk10 accounts are not active as expected, but we are planning special fund, which will soon take place to make the accounts more dynamic and beneficial,” Governor Atiur Rahman told BSS recently.

He did not detail about the size of the fund and the conditions to get a share of it, but said a directive would soon be given to the respective banks to introduce the fund.

The official, however, said the size of the fund would be reasonable to offer financial help to most of the Tk10 account holders who will be capable of using the money in farming and in other profitable agro-based sectors.

Introduced in 2010, farmers, freedom fighters and the persons who get allowances under the social safety net programme were offered to open and maintain a bank account by depositing only Tk10.

Later, cleaning staff of different cities and towns were also brought under the scheme.

News:Dhaka Tribune/17-Nov-2013

The government will execute the recommendations of the secretaries’ committee on the separate pay scales for Bangladesh Bank and four state-owned commercial banks from next week.

Prime Minister’s Office sent secretary committee separate pay proposals of Bangladesh Bank and four state owned banks to Bank and Financial Institution Division on Thursday for executing although the Prime Minister Sheikh Hasina singed separate pay proposal a week ago without giving any comment , said a senior official of Bank and Financial Institution Division .

The official said the committee’s recommendations for a Tk2,000 hike and reconstitution of 11 pay grades instead of the existing 19 would be sent to the implementation division of the Finance Division for issuing a circular.

Earlier, Banking Division Secretary Dr Aslam Alam said the new pay scales would be implemented from November if the boards of directors of Bangladesh Bank and the four state-owned banks – Sonali, Janata, Agrani and Rupali – wanted.

The National Pay Scale grades 6-8 for Sonali, Janata, Agrani and Rupali banks will become one grade while grades 10-11, grades 12-14, grades 15-16, and grades 17-19 will constitute another three grades. An extra increment will be given to higher grades.

At present, the four government commercial banks have roughly 90,000 officers and employees while the central bank has about 6,000 staff members.

News:Dhaka Tribune/15-Nov-2013

All the existing potential sectors and sub-sectors of agriculture should be brought under qualitative and quantitative investments for making the region’s agro-based economy more vibrant.
This was observed at the 401st meeting of the board of directors of Rajshahi Krishi Unnayan Bank (RAKUB) held recently.    Services of Rajshahi Krishi Unnayan Bank (RAKUB) should be taken at the doorsteps of the farmers for elevating their living and livelihood condition, the board meeting observed.
The meeting was held at RDRS conference hall in Rangpur on Monday.  With board chairman Prof Dr Shah Newaz Ali in the chair, board members--Mofazzal Hossain, Ekram Hossain, Prof Modan Mohan Dey and Prof Obaidur Rahman Pramanik were present at the meeting.
Deputy managing director Abu Hanif Khan, general managers Abdul Khaleque Khan and Habibur Rahman and secretary Emdadul Haque also attended the meeting.
For the sake of sustainable livelihood of the farmers and for bolstering the agro- based economy, the meeting called for increasing the need- based credit flow.
The meeting discussed elaborately on how to make the bank’s operational and commercial activities more dynamic through strengthening the credit support for both farm and non-farm prospective fields.
Terming the farmers as the vital force to boost up the agricultural productions the board expressed its commitment to protect the farmers’ interests as a whole.
The meeting reviewed overall activities of the bank and took some important decisions relating to its operational and administrative matters.
The meeting laid emphasis on intensifying the bank’s activities to supplement the government’s efforts to expand social safety net and ensure poverty reduction and food security, the release added.

News:Thy Indipendent/18-Nov-2013

IFIC Bank organised a two-day-long training course on ‘Prevention of Money Laundering and Combating Financing of Terrorism’ for the executives and officials of Chittagong division branches of the bank.

SM Abdul Hamid, Deputy Managing Director and Chief Anti-Money Laundering Compliance Officer of IFIC Bank inaugurated the training course that ended on November 16 last.

News:Daily Sun/19-Nov-2013

Bank Asia opened its 80th branch at Sonargaon-Janapath Road at Uttara in Dhaka on Monday.

A Rouf Chowdhury, Chairman of the bank, inaugurated the new branch, said a press release.

AM Nurul Islam and Mohammed Lakiotullah, Vice Chairmen, Md Safwan Chowdhury, Chairman of Executive Committee, Shah Md Nurul Alam, Chairman of Board Audit Committee, Md Mehmood Husain, President & Managing Director of the bank, attended the function.

News:Daily Sun/19-Nov-2013