Professor Abu Nasser Muhammad Abduz Zaher, Chairman of Islami Bank, hands over a key to Barrister Rafique ul Huq, Chairman of Governing Body for Ahsania Mission Cancer and General Hospital, at a function in Dhaka on Sunday. slami Bank Bangla- desh Limited (IBBL) donated a well-equipped ambulance to Ahsania Mission Cancer and General Hospital. Professor Abu Nasser Muhammad Abduz Zaher, Chairman of the bank, handed over the key to Barrister Rafique ul Huq, eminent lawyer and Chairman of Governing Body for Ahsania Mission Cancer and General Hospital at a function in Dhaka on Sunday, said a press release. Eng. Md Eskander Ali Khan, Chairman, Executive Committee, Md Abdul Mannan, MD, Md Shamsul Haque, Md Nurul Islam, Eng Md Abul Bashar, Md Mahbub-ul-Alam, DMDs, Md Ataur Rahman, EVP, AHM Latif Uddin Chowdhury, SVP of the bank and Kazi Rafiqul Alam, President of Dhaka Ahsania Mission, Brig. Gen. (Rtd) Syed Fazle Rahim, Project Director, Monzur Md Kawser, Head of Finance and Accounts of AMCH, attended the function. News:daily Sun Bangladesh/2-Sep-2013

ONE Bank celebrated its 14th founding anniversary at the Pan Pacific Sonargaon Dhaka recently, said a press release. Chairman Sayeed H Chowdhury, vice-chairman Asoke Das Gupta and managing director M Fakhrul Alam spoke on the occasion attended by the bank’s clients and dignitaries. To mark the occasion, ONE Bank also launched Prepaid Card, Debit Card and VISA Platinum, Gold and Silver Credit Cards. A colorful cultural programme was also held as part of the celebrations. News:New Age Bangladesh/1-sep-2013

Bangladesh Bank counted Tk 5,519.11 crore in losses from its foreign currency, gold and silver reserve in the past financial year 2012-2013, according to latest BB data. The BB made a profit of Tk 3,952.27 crore in the FY12 by investing in currencies, gold and silver. BB officials told New Age on Thursday that the central bank had counted the amount in losses as the local currency taka had appreciated significantly against the dollar, and the price of gold and silver decreased on the local and foreign market. A BB official said the central bank had invested a major portion of foreign currencies with the US dollar resulting that the BB counted a loss of Tk 3,847.97 crore in the FY13 from a profit figure of Tk 3,173.10 crore in the FY12. The BB record book showed that the central bank had bought a highest amount of dollars worth $4.53 billion in the FY13 since FY05. With the dollar purchase and rise in remittance inflow and lower import growth the BB’s international reserve including dollar and gold, soared to around $15.31 billion in June 2013 from around $10.38 billion in July 2012. Around 70 per cent of Bangladesh’s forex reserve is tied up to the US dollar, followed by around 20 per cent to the euro. Gold accounts for around six per cent of the reserve. The BB official said that the central bank had been compelled in purchasing the record amount of dollars in the last financial year due to lower import growth against a higher export earning and increased inflow of inward remittance. The BB had taken the move also with a view to curbing depreciation of the greenback against the local currency taka, but its effort failed as the value of dollar depreciated significantly, he said. The BB data showed that the dollar depreciated by 4.95 per cent against the taka in the FY13 from that of the FY12, as the greenback was quoted Tk 77.75 on June 30, 2013 and Tk 81.80 on June 30, 2012. The dollar, however, appreciated by 10.30 per cent in the FY12 from that of FY11 as the greenback was quoted Tk 74.10 on June 30, 2011. The BB official said that the central bank had also made a large amount of loss by investing gold and silver in the FY13, as the price of the two metals decreased significantly on both the global and local market. The BB counted a loss of Tk 1,657.60 crore in gold investment in the FY13 against a profit of Tk 827.15 crore in the FY12. The gold price on the international market fell to around $1,200 per ounce in June this year from around $1,600 in July 2013. The BB, however, registered a loss in silver investment both in the FY13 and FY12. The central bank data showed that the loss amount had increased by investing silver in the FY13 as the loss figure was Tk 13.68 crore in the last financial year from Tk 4.98 crore in the FY12. The silver price on the international market came down to around $19.66 per ounce in June 2013 from around $27.32 in July 2012. The BB official said, ‘The loss in foreign currencies, gold and silver have not put any impact on the central bank’s annual profit and loss balance sheets. The BB keeps aside the loss or profit of the reserve from its annual balance sheet.’ The BB data showed that the operating profit of the central bank in the FY13 increased by Tk 7.61 per cent to Tk 4,152.38 crore from Tk 3,858.63 crore in the FY12. In the FY13, the BB had earned significant amount of profit from interest on government borrowing. The profit from the interest on the government borrowing in the year rose by 5.20 per cent to 3,145.55 crore from Tk 2,990.17 crore in the FY12, showed the BB data. The profit from the interest of REPO, special REPO, liquidity support facility and other sources, however, decreased by 6.19 per cent to Tk 1,334.72 crore in the FY13 from Tk 1,422.86 crore in the FY12. The official said, ‘The BB gave a large amount of interest to the banks which invested their money in the reverse REPO in the FY13. For this reason, the central bank counted in losses in the sector. Another BB official said the central bank usually transferred its net operating profit to the statutory fund, interest reserve account, currency fluctuation reserve, revaluation reserve and asset renewal and replacement fund. After transferring the amount, the BB will pay Tk 3,630.20 crore to the government in the FY13 which was higher by 4.28 per cent from that of the previous financial year, he said. In the FY12, the BB paid Tk 3,481.10 crore to the government. News:New Age Bangladesh/1-Aug-2013

KS Tabrez, Managing Director of Dutch-Bangla Bank Limited, speaks at a training course at the bank’s training wing in Dhaka on Saturday. Dutch-Bangla Bank Limited (DBBL) organised a four-week-long foundation training course for its officers. KS Tabrez, Managing Director of the bank, presided over the course at the bank’s training wing in Dhaka on Saturday, said a press release. The aim of the course is to familiarise with participants with concepts, principles, rules, regulations, laws and practices of banking. Tabrez emphasised the need for continuous training for the officers to enrich knowledge on practical banking, development of skills. News:Daily Sun Bangladesh/1-Sep-2013

The state-owned Sonali Bank Limited has re-fixed interest rates for different savings schemes. As per the new rate, depositors will be provided highest interest on savings from 5.75 percent to 7.25 percent. The bank is also providing 5 percent to 6.50 percent interest rates for SND and from 10 percent to 12 percent for fixed deposits. Moreover, customers can deposit funds under various schemes like Double Benefit Scheme, Triple Benefit Scheme, Millionaire Scheme, Sonali Savings Scheme, Education Savings Scheme, Health Savings Scheme, Rural Savings Scheme, Marriage Savings Scheme and Monthly Savings Scheme at different branches of the bank across the country. News:Daily Sun Bangladesh/1-Sep-2013