The ministry of finance (MoF) has instructed the state-owned commercial banks (SoCBs) to submit their business plans to address their problem of capital inadequacy by October, sources said.

Until March 2013, the four state-owned banks had a shortfall, to the tune of Tk 96.42 billion, in aggregate requirement for their capital. Such shortage in case of Sonali Bank stood at Tk 52.44 billion, for Agrani Bank, Tk 21.20 billion, for Rupali Bank, 11.64 billion, and for Janata Bank, Tk 11.14 billion.

The MoF asked the banks to mention, in the business plan, the status of pursuing the conditions of memoranda of understanding (MoU) that they signed with the central bank, the stage of automation of banking activities, realisation of money in cash from the top 20 defaulters, stress test reports, and updated position for preparation of their respective liquidity risk management policy.

The banks were also asked to inform about the status of progress relating to setting up of risk management units in their respective financial institutions. Furthermore, they were directed to provide updated reports about their respective progress in pursuit of the guidelines of the Bangladesh Bank about core risk management. The SoCBs were also told to furnish information to the MoF about the steps that they had taken to settle the pending loan-default cases and audit disputes and to help reduce the burden of their respective non-performing loans.

In the letter sent to the managing directors and the chief executive officers (CEOs) of the banks, the MoF asked for submitting their respective time-specific plans.

Earlier, at a meeting at the MoF conference room, Finance Minister AMA Muhith expressed resentment over poor performance of state-owned banks about improving their operational conditions.

Transparency and good governance, he observed at the meeting, are yet to be ensured in the state-run banks due to the failure of their automation in time. This has been hindering efforts for providing proper services by them to their customers, he noted.

Mr Muhith asked the banks to expedite actions on core banking solutions on a priority basis from the fund given by the government for their recapitalisation.

HN Ashequr Rahman, MP, Chairman of Meghna Bank Limited, inaugurates a branch at Motijheel in Dhaka on Wednesday. 

Meghna Bank Limited opened a branch at Motijheel in Dhaka on Wednesday.

HN Ashequr Rahman, MP, Chairman of the bank, inaugurated the branch, said a press release.

Abdul Alim Khan Selim, Vice Chairman, Tanveer Ahmed, Ashiqur Rahman Lasker, Rehana Ashequr Rahman, SM Jahangir Alam (Manik), Directors, Md Shahidul Ahsan, Rasheq Rahman, AKM Mostafizur Rahman, Sponsors, Md Mohashin Miah, Managing Director and CEO (Current Charge), senior executives of the bank and local elites attended the function.

Maj Gen (Retd.) AR Khan, Vice President, Diabetic Association of Bangladesh, receives replica of an ambulance from AAM Zakaria, Managing Director, First Security Islami Bank Limited, at a function on the occasion of the 14th founding anniversary of the bank at Ruposhi Bangla Hotel on Wednesday. 

First Security Islami Bank Limited (FSIBL) donated approximately Taka 12 crore in September last under its CSR (Corporate Social Responsibility) activities.

The bank contributes almost 5 percent of its operational profit in this project.

This was disclosed at a function on the occasion of the 14th founding anniversary held at Ruposhi Bangla Hotel on Wednesday.

M. M. Niazuddin, Secretary, Ministry of Health & Family Welfare, SK Sur Chowdhury, Deputy Governor of Bangladesh Bank, AAM Zakaria, MD, FSIBL, Barrister M Rafiq Ul Haque, Maj Gen (Retd.) AR Khan, Vice Presidents, Diabetic Association of Bangladesh, Md Saifuddin, Secretary General, Diabetic Association of Bangladesh, Prof Mahmudur Rahman, Chairman, Board of Management of Ibrahim Cardiac Hospital & Research Institute, Prof Dr MA Rashid, CEO of Ibrahim Cardiac Hospital & Research Institute were present on the occasion.

On the occasion, First Security Islami Bank Limited donated one highly configured modern Cardiac Ambulance to Ibrahim Cardiac Hospital & Research Institute, Tk 25 lakh to establish First Security Islami Bank School, Tk 25 lakh to establish First Security Islami Bank Hospital, 5 computers for the students of MM Niazuddin High School, Tk 450,000 as scholarship for the students of Begum Rawsan, Wahed Girls High School, one computer for the students of Pekua GMC Institution, one computer for the students of Shilkhali High School, Tk 3,400,000 for scholarship of meritorious students of Jessore Zila School, Tk 3,600,000 for scholarship of meritorious students of Jessore Govt Girl High School, Tk 800,000 for scholarship of meritorious students of Saint Joseph School, Khulna, Tk 322,000 as scholarship for intellectually disabled students through Banker's Forum. 

M. Fakhrul Alam has been made new Managing Director of ONE Bank Limited for a tenure of 3 (three) years with effect from October 8.

Prior to this assignment he was the Managing Director (current charge) of the bank, said a press release.

Before joining at ONE Bank Limited, he was the Deputy Managing Director and Head of Corporate Banking, Treasury and Investment Banking of Eastern Bank Limited.

Fakhrul Alam has diverse experiences in banking over 29 years, including corporate, treasury and investment banking in various capacities in different banks and other financial institutions.

He started his career in 1983 as an officer at Agrani Bank Limited and later served different organisations at home and abroad including IFIC Bank Limited and Bank of Credit & Commerce International (Overseas) Ltd.

He is an MBA from IBA, Dhaka University. 

Md Abdul Mannan, Managing Director, IBBL and Brig. Gen. Md. Sajjad Hossain, President, Proyash School, Jessore, sign a Memorandum of Understanding (MoU) on behlaf of their respective organisations on Tuesday to build an academic building in Jessore Cantonment on Tuesday. 

Islami Bank Bangladesh Limited (IBBL) donated Tk 150 million to Proyash, an institution run under the patronisation of Bangla- desh Army.

Proyash works for the wellbeing of persons and children with special needs, said a press release.

The amount donated to build an academic campus on 42 bighas of land at Jessore Cantonment. In this regard Md Abdul Mannan, MD of IBBL and Brig. Gen. Md. Sajjad Hossain, President, Proyash School Jessore, signed a Memora- ndum of Understanding (MoU) on behlaf of their respective organisations on Tuesday.

Prior to this, the foundation stone of the academic building was laid. Prof. Abu Nasser Md Abduz Zaher, Chairman, Board of Directors, Engr. Eskandar Ali Khan, Chairman, EC, Md. Nurul Islam, DMD of IBBL, Maj. Gen. SM Motiur Rahman, GOC of 55 artillery brigade and commander, Jessore Area, Lt Col. Shams Alauddin, member, Proyash Managing Committee, Lt Col. Saiful Alam Bhuiyan, PSC, Begum Soheli Ehsan, Principal, Proyash Jessore Branch, Abu Nasser Md Nazmul Bari, IBBL Khulna Zonal Head along with high officials of Jessore cantonment were present on the occasion.