Md. Tazul Islam MP, Chairman, Executive Committee, Jamuna Bank Limited, inaugurates the 85th branch of the bank at Natherpetua, Manohargonj, Comilla recently.

The 85th branch of Jamuna Bank Limited (JBL) was inaugurated at Natherpetua, Manohargonj, Comilla recently.

Md. Tazul Islam MP, Chairman, Executive Committee, Jamuna Bank Limited inaugurated the branch as the chief guest, said a press release.

Kanutosh Majumder, Chairman of the bank and Al-Haj Nur Mohammed, Chairman, Jamuna Bank Foundation attended the function as special guests .

Shafiqul Alam, Managing Director of the bank presided over the function.

Shamsul Azam, Executive Vice President and Head of General Service Division of Dutch-Bangla Bank Limited, inaugurated the 130th branch of the bank at Abdullahpur at Keraniganj in Dhaka on Sunday.

The 130th branch of Dutch-Bangla Bank Limited (DBBL) was opened at Abdullahpur at Keraniganj in Dhaka on Sunday.

Shamsul Azam, Executive Vice President and Head of General Service Division of the bank inaugurated the branch, said a press release.

This branch will provide on-line banking facilities to the clients like other branches from the opening day.

A Milad-Mahfil was also held seeking blessings of the Almighty Allah for successful operation of the branch, depositors and stakeholders of the bank.

News:Daily Sun/30-Sep-2013

Md. Enamul Haque Chowdhury, Chairman of Sonali Investment Limited and Director of Sonali Bank Limited, presides over the 3rd AGM of the company at its head office in Dhaka on Sunday.

Sonali Investment Limited organised its 3rd Annual General Meeting (AGM) at its head office in Dhaka on Sunday.

Sonali Investment Limited is a subsidiary company of Sonali Bank Limited, said a press release.

Md. Enamul Haque Chowdhury, Company Chairman and Director of Sonali Bank Limited presided over the meeting.

Among others, Director ASM Nayeem, Md. Nazibor Rahman, Professor Farid Uddin Ahmed of Dhaka University, Managing Director and CEO of Sonali Bank Limited Prodip Kumar Dutta, Deputy Managing Director Khondokar Md. Iqbal, Md. Khorshed Hossain and CEO of Sonali Investment Limited Md. Ali Arshad were present.

Aminul Islam, Managing Director, Bank Asia is seen among the participants of an orientation programme on 'Salamah Islamic Banking Service' at the opening session at Bank Asia Institute for Training and Development at Kawran Bazar in Dhaka on Saturday.

A day-long orientation programme on 'Salamah Islamic Banking' service was held at Bank Asia Institute for Training and Development at Kawran Bazar in the city on Saturday.

A total of 32 officers of the bank took part in the programme, said a press release.

The programme was arranged to provide brief idea about Islamic Banking, its products as well as `Salamah Islamic Banking' service of Bank Asia among the officers.

The government will create a refinance fund to the tune of Tk 1.0 billion (Tk 100 crore) for Islamic small and medium enterprises (SMEs), mainly rural area-based units including agro-processing ones.

The issue was discussed in a board meeting of the Bangladesh Bank (BB) on September 25 with BB Governor Dr Atiur Rahman in the chair. As per the decision, eight Islamic banks will take the fund from the central bank for distribution in the rural areas at a reduced interest rate.

The fund will be operated truly on the basis of Islamic Shariah as the rural areas have a great demand for Shariah-based banking.

When asked, a high BB official said each of the banks would get a revolving fund on the basis of their demand.

He also said different Islamic banks sought such funds. So the central bank decided to create it. He said they were expecting the fund to be available from January 2014.

The BB board memorandum on requirement of the fund said in a long term perspective the banks were gradually helping create a section of entrepreneurs across the country through proper financing and training. But many people were not interested to access the formal banking on the religious ground. In view of that factor the fund would help bring those people under the banking network.

"SME loans have a good demand in the growing rural economy where entrepreneurs are running small-scale industrial units. Some of these groups of people want to operate their business in a fully Sariah-based banking, for which this product will be helpful," a high official of a Shariah-based bank told the FE Saturday.

He said not only the SMEs but also rural economies had a great demand for Shariah-based banking products. 

According to BB statistics, eight Islamic banks distributed 42 per cent of the entire SME funds distributed by all commercial banks in the fiscal year (FY) 2012-13.

The credit flow to SMEs during the second quarter of the current calendar year (CY) increased 16 per cent from that of the first quarter, BB sources said.

According to the BB data, the loans disbursed to the SME sector rose to Tk 225 billion in the April-June period last from Tk 194 billion in the January-March period.

In total, the SME sector received Tk 419 billion during the first half of the CY.

For the year, the SME loan disbursement target was set at Tk 742 billion by the central bank. It shows that over 56 per cent of the targeted figure has already been distributed in the first half.