DHAKA, SEPT 4: Bangladesh Bank (BB) governor Dr Atiur Rahman on Tuesday called upon all Mobile Banking Financial Institutions for implementing cost effective and flexible banking services for unbanked people aiming to expand the journey of financial inclusion. The BB governor was addressing at the inauguration of the mobile credit card “Swosti” in a city hotel, organised by Bdjobs.com.
Addressing as chief guest, the governor said Swosti formulated one step ahead for banking services among 
the unbanked and underprivileged people.
Swosti is a project of Bdjobs.com. It offers mobile banking card for the underpriviledged rural people through which customer can enjoy loan facilities. 
Meanwhile the governor said, “We need to raise awareness among the unbanked people regarding the mobile banking services for the development of the country.”
He has underscored the need for decreasing the cost of mobile banking service to encourage more people for accepting the services.
The governor said that BB has taken many initiatives for expanding the banking services such as the moderation of cheque clearing services so that people can easily make their transaction within a day. 
He appreciated Bdjobs , Dutch- Bangla Bank and Dushtha Shasthya Kendra (DSK) for their initiative to introduce country’s first mobile banking card services through which the underprivileged rural people can receive loan facilities in a very short time.
In 2011, the mobile banking service introduces to expand the banking services to the unbanked people, said the governor and added that in this regards, BB approved twenty seven banks for corresponding mobile banking services. Currently eighteen banks are operating the mobile banking services which have already got a tremendous popularity among the rural people.
He warned the Mobile Banking Financial Institutions to maintain the BB guidelines in order to prevent false and illegal transactions. 
In this regards, he suggested mobile banking agents to fill up KYC (Know Your Customer) form for their customer. 
Governor said currently the mobile banking customers are almost seventy two lakhs, so it is important to know the customer profile for avoiding any financial irregularities. 
By using modern technology, it is possible to decrease the rate of poverty which is ultimately support for sustainable development.
Presiding the inaugural session, Quazi Kholiquzzaman Ahmad, chairman of Palli Karma-Sahayak Foundation (PKSF), suggested the Mobile Banking Financial Institutions for strong monitoring of the loan beneficiaries in order to smooth financial transactions.
“We need to increase productivity for sustainable development,” he said and added that we need to implement large scale project instead of small project for real development.
The inauguration ceremony was also addressed among others by Ahmed Islam Muksit, chairman of Bdjobs.com and Abul Kashem Md. Shirin, deputy director of Dutch-Bangla Bank.

News:The Inpependent Bangladesh/5-Sep-2013

Abrar A Anwar, acting CEO of Standard Chartered Bangladesh, hands over a cheque worth Tk 2,900,000 to Md. Shafiq-ul Islam, Executive Director of CRP for the rehabilitation of the victims of Rana Plaza collapse at CRP at Savar recently.

Standard Chartered Bank, Bangladesh handed over a cheque worth Tk 2,900,000 to Centre for the Rehabilitation of the Paralysed (CRP) for the victim’s of Savar Rana Plaza tragedy.

Abrar A Anwar, acting CEO of Standard Chartered Bangladesh along with Bitopi Das Chowdhury, Head of Corporate Affairs recently handed over a cheque to Md. Shafiq-ul-Islam, Executive Director of CRP.

News:Daily Sun Bangladesh/5-Spe-2013

 

 Al-Arafah Islami Bank Limited organised a day-long workshop on 'Shariah Implementation in AIBL' at Zindabazaar in Sylhet recently.

Md Habibur Rahman, Managing Director of the bank, presided over the workshop, said a press release. Md Golam Mohi- uddin Chowdhury, coordinator of the workshop, spoke at the inaugural ceremony.

Mawlana Abdul Basit Barkatpuri, Member of AIBL Shariah Supervisory Committee, Md Harunoor Rashid, Vice President and Zonal Head, Md Zahid Hasan, Principal of AIBTRA, and Md Abdur Rahim Khan, Secretary of AIBL Shariah Supervisory Committee, attended

News:Daily Sun Bangladesh/5-Sep-2013

Md. Ehsan Khasru, Managing Director and CEO of Prime Bank Limited, launches "Prime Cash Card Services at Prime Bank ATM Booths" at the bank's head office on Wednesday.

 

Prime Bank Limited has launched "Prime Cash Card Services at Prime Bank ATM Booths" at the head office of the bank on Wednesday.

Md. Ehsan Khasru, Managing Director and CEO of Prime Bank Limited inaugurated the booth, said a press release.

Habibur Rahman, SEVP and Head of Retail Banking, Md. Iqbal Hossain, SEVP and Head of IT Infrastructure and Development, Md. Shahadat Hossain, EVP and Head of IT Operations, Ferdousi Sultana, EVP and Head of Public Relations, Salahuddin Ahmed, SVP and Head of ADC, Amir Hossain Majumdar, SVP and Head of Cards, and Md. Tofazzul Hossain, Head of Marketing of the bank, Rashed Mahmud, CEO of Dipon Consultancy Services and Md. Shafquat Matin, Director were present at the function.

From now on, Prime Cash Card holders will be able to withdraw cash from all ATM booths of Prime Bank Limited.

Prime Bank has launched 'Prime Cash', the first-ever Biometric Smart Card in Bangladesh to provide secured banking services to the unbanked people of the country.

News:Daily Sun Bangladesh/5-Sep-2013

ndustries ministry has recommended that in the new law for the Grameen Bank, three members should make a quorum in the board of directors of the micro-credit institution and the chairman of the board should arrange board meetings every three months. In the existing Grameen Bank Ordinance 1983, the government, being a 25% stakeholder, appoints three members to the Grameen Bank board of directors. However, in the ordinance, four members make a quorum. Under the ordinance, Grameen Bank has 12 members, nine of whom are elected from the bank’s female stakeholders. On August 14, an inter-ministerial meeting at the finance ministry decided to finalise the procedures to turn the 1983 ordinance that now governs the organisation into a law. Bangladesh Bank, industries ministry and NGO bureau submitted their recommendations on the issue to the banking division this week. After the meeting, Banking Secretary Md Aslam Alam had told reporters that after receiving suggestions from different stakeholders, a summary would be submitted to the finance minister for approval and then to the cabinet. Industries ministry also recommended that the educational qualification of the three government officials who would be selected as board members should be set in the new law. Bangladesh Bank has opined that there should be no bar on transaction of securities and money for persons and organisations by the Nobel Prize winning microcredit pioneer Grameen Bank, since many financial institutions that are not scheduled banks also hold similar transactions. The central bank has submitted its recommendations to the finance ministry’s banking division, following the division’s request to all stakeholders of Grameen Bank to give their opinions on a new Grameen Bank law within August 25. Officials in the banking division said they did not want Grameen Bank to operate as a scheduled bank because it operates now under the ordinance as a financial organisation with NGO motives. Finance Minister AMA Muhith told the Dhaka Tribune on Monday that the government would try to protect the “originality” of the microcredit organisation Grameen Bank. The central bank recommended that any person and organisation should be allowed to open accounts in Grameen Bank and any person and organisation as mediators for opening of accounts should be encouraged. The central bank also advised that city corporations, municipalities and cantonments, which do not have any Grameen Bank operations at present, should be included in the new law. It also suggested that the new law should exclude the Bangladesh Bank Order which is included in the existing ordinance and the Banking Companies Act 1991 should replace the existing Bank Companies Ordinance 1962. Grameen Bank should follow the Bangladesh Accounting Standard to prepare its financial reports and Bangladesh Bank directives should be strictly maintained, as per the recommendations. The profits of Grameen Bank should be used to off-set its bad loan and doubtful debts, the central bank suggested. Industries ministry opined that the definition of a landless person should be changed to owner of 20 decimal land or less instead of 50 decimal or less, and also someone who may inherit land should not be classified as landless. The ministry also said the new law should have clarifications on what conditions would constitute the easy loan conditions for the landless. The industries ministry recommendations were signed by Assistant Secretary Anwar Hossain of the ministry of industries. The Bangladesh Bank recommendations were signed by General Manager of Banking Regulation and Policy Department Chowdhury Md. Feroz Bin Alam. The ministry recommended that Grameen Bank could be allowed to operate businesses under the new law but not outside its scope. The banking division three months ago formed a committee comprising of Supreme Court’s Additional Attorney General Murad Raza and IFIC Bank Managing Director M Shah Alam Sarwar to make recommendations on the Grameen Bank Law 2013 which will replace the Grameen Bank Ordinance 1983. The committee submitted its recommendations to the division on June 16, suggesting increasing Grameen Bank’s capital to Tk3.5bn from the existing Tk30m and its paid-up capital to Tk3bn from the existing Tk59m. They suggested that nine directors should be elected after being scrutinised by two electorates appointed by the Grameen Bank management. News:Dhaka Tribune Bangladesh/30-Aug-2013