Japan funds safety standards in Bangladesh

Shiro Sadoshima, Japanese ambassador to Bangladesh; Atiur Rahman, governor of Bangladesh Bank; Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, attend the signing of an agreement to create a Tk 100 crore fund to promote safety in the apparel sector, at the Westin hotel yesterday. Bangladesh Bank

The central bank has created a fund of Tk 100 crore with the assistance of Japan International Cooperation Agency (JICA) to improve safety standards in the apparel sector.

 
Factory owners will receive the loan from commercial banks at a maximum of 10 percent interest for rebuilding and relocating of factories and purchase of equipment.

The commercial banks should keep the interest rate low, Atiur Rahman, governor of Bangladesh Bank, said at a programme at the Westin Hotel in Dhaka.

JICA, Bangladesh Bank, Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Knitwear Manufacturers and Exporters Association and the housing and public works ministry signed a deal.

The borrowers will have to repay the loan in 15 years with a grace period of two years, Bangladesh Bank said in a statement.
JICA agreed to give the fund following the Rana Plaza tragedy, under its ongoing project worth Tk 400 crore for the development of small and medium enterprises, launched in May 2011.

A technical team of JICA and engineers of the housing and public ministry will inspect the factories of loan seekers and estimate the costs,

before the banks sanction the funds, said Anisuzzaman Chowdhury, senior programme officer of JICA.

The highest limit of the individual loan is Tk 10 crore, according to the banking regulator.
Bangladesh should adopt Japanese retrofitting technology to ensure worker safety,

said Khondaker Showkat Hossain, housing and public works secretary.

Retrofitting is the process of modifying something after it has been manufactured. For buildings,

it means making changes to the systems inside the building or even the structure itself at some point after its initial construction and occupation.

Japan wants to be more involved with Bangladesh, said Shiro Sadoshima, Japanese ambassador. “We want cooperation from the public and private sectors.”

Bangladesh is seriously working to address the workplace safety and rights of workers in the apparel industry, said Atiqul Islam, president of BGMEA.

Bangladesh should work seriously to maintain its sustainable economic growth, said Hiroyuki Tomita, JICA Bangladesh Office’s senior representative.

The public and private sector should work together to achieve the highest economic growth, Tomita said.

Ishtiaque Ahmed Chowdhury, Managing Director and CEO of Trust Bank Limited, and Md. Ikram Iqbal, Director of Computer Network Systems, exchange documents after signing an agreement at the banks head office on Thursday.

Trust Bank Limited and Computer Network Systems Limited (CNSL) signed an agreement at the banks head office in Dhaka on Thursday.

Under this agreement, Trust Bank Limited will collect Motor Vehicle Taxes and Fees for BRTA, said a press release.

Ishtiaque Ahmed Chowdhury, Managing Director and CEO of the bank attended the function as chief guest.

Abu Zafar Hedaytul Islam, SEVP and Head of Operations of the bank, Md. Ikram Iqbal, Director of Computer Network Systems, Lt Col Abu Naoraz Khurshid Alam, PSC (Rtd) of Chief Operating Officer of Computer Network Systems and S M Akram Sayeed, EVP and Head of IT, ADC and Mobile Banking Division were also present at the ceremony.

Shahid Hossain, Managing Director of Southeast Bank Limited, inaugurates a branch at Miya Bazar, Chouddogram, Comilla recently.

The 98th branch of Sou- theast Bank Limited was inaugurated at Miya Bazar, Chouddogram, Comilla re-

cently.

Shahid Hossain, Managing Director of the bank formally inaugurated the branch as chief guest, said a press release.

Lt CDR (Retd) Wares-Ul-Matin, Senior AVP and Head of Logistics and General Services of Head Office, Mohammad Golam Azam Faruq, Head of Miya Bazar Branch, industrialists, customers and local elites were present on the occasion.

 The 519th branch of Rupali_Bank was inaugurated at Elisha Jongson Bazaar at Bhola recently.

Mahbubur Rahman Hiron, former director, Md. Yousuf Ali, General Manager and Abul Kalam Azad, Deputy General Manager of the bank were present on the occasion.

Showkat Aziz Russell, Director of UCBL, speaks at the contract signing of ticketing partnership between UCBL and BCB in Dhaka on Wednesday. Nazmul Hassan, MP, President, BCB is also seen at the event.

United Commercial Bank Limited (UCBL) and Bangladesh Cricket Board (BCB) signed a contract on ticketing partnership in Dhaka on Wednesday.

Ticket of Bangladesh-New Zealand series 2013 will be available through 11 branches of the bank, said a press release.

Showkat Aziz Russell, Director, UCBL and Nazmul Hassan, MP, President, BCB were present at the signing event.

Bangladesh-New Zealand series 2013 tickets will be available through six UCBL branches like Principal branch. Corporate branch, Nayabazar branch, Sonargaon Janapath branch, Mirpur branch and Dhanmondi branch.

Tickets will also be available through Agrabad branch and O. R. Nizam Road branch of Chittagong, Chashara branch of Narayangonj and Shahjalal Upashahar and Sylhet main branch of Sylhet.

Mirza Mahmud Rafiqur Rahman along with other executives of UCBL and BCB were present on the occasion.