Tanjil Chowdhury, Vice Chairman of Executive Committee of Prime Bank, inaugurates a branch at Islampur in Sylhet recently.

Prime Bank Limited opened its 123rd branch at Islampur in Sylhet recently.

Tanjil Chowdhury, Vice Chairman of Executive Committee of the bank, inaugurated the branch as the chief guest, said a press release.

News: The Daily Sun/Bangladesh/16th-Oct-12

Md. Abdul Jalil, MP, Chairman of Mercantile Bank, speaks at a seminar on “Banking and Banker’s Ethics” at Bangabandhu International Conference Center (BICC) in Dhaka recently.

Mercantile Bank Limited organised a seminar on “Banking and Banker’s Ethics” for its officials at Bangabandhu International Conference Center (BICC) in Dhaka recently.

Md. Abdul Jalil, MP, Chairman of Mercantile Bank inaugurated the seminar as chief guest, said a press release Monday.

Monindra Kumar Nath, Managing Director and CEO of the Bank presided over the function.

News: The Daily Sun/Bangladesh/16th-Oct-12

M. Mukhter Hossain, AMD of Shahjalal Islami Bank Ltd. and Golam Hafiz Ahmed, AMD of NCC Bank Ltd exchange documents after signing an agreement at the SJIBL head office on Monday.

Shahjalal Islami Bank Limited (SJIBL) and National Credit and Commerce Bank Limited (NCCB) signed a strategic business agreement for Xpress Money remittance service in the SJIBL head office on Monday.

Under the agreement, Shahjalal Islami Bank Limited will able to offer Express Money services from its outlets around the country.

M. Mukhter Hossain, Additional Managing Director of Shahjalal Islami Bank and Golam Hafiz Ahmed, Additional Managing Director of NCC Bank signed the agreement on behalf of their respective banks.

Md. Abdur Rahman Sarker, MD & CEO, Md. Abdul Jabber Chowdhury, DMD and M. Akther Hossain, EVP & Head of International Division of Shahjalal Islami Bank and Mohammed Nurul Amin, MD & CEO, ABM Jashim Uddin Ahmed, VP of NCC Bank Limited were also present on the occasion.

News: The Daily Sun/Bangladesh/16th-Oct-12

The central bank yesterday asked all commercial banks -- including the scam-ridden Sonali Bank -- to give acceptance to genuine inland bill purchases (IBPs) for the sake of the country's exports.

The instruction came at a meeting with the leaders of the apparel exporting and bankers' bodies at the Bangladesh Bank (BB) headquarters. When an exporter receives an order, he/she opens a 'back-to-back' letter of credit (LC) account at a bank to procure the raw materials to fulfil the order.

The exporter then sells the 'back-to-back' LC on to banks at a discounted rate, which is called the IBP.

SK Sur Chowdhury, deputy governor of the BB, told journalists that the commercial banks cannot delay the purchase of genuine bills under any condition.

“Some commercial banks showed reluctance towards the purchase of acceptance bills after the loan scam of Hall-Mark Group. But, there is no reason to be panicky as every indicator of the banking system is giving positive signs.”

The central bank is yet to bring out a fresh circular, though, regarding the development, added Chowdhury.

The BB deputy governor further said Sonali Bank, too, will start releasing the stalled funds against the IBPs soon.

“Banks will pay special attention when it comes to the acceptance of the garment sector's IBP so that businesses do not face any crisis before the Eid festival,” said Nurul Amin, chairman of Association of Bankers Bangladesh, a platform of chief executives of commercial banks.

“The environment of mistrust that has been created in the bankers and clients relationship due to the Hall-Mark loan scam is not right,” Amin said, while pressing Sonali Bank to accept the valid IBPs.

Shafiul Islam Mohiuddin, the president of Bangladesh Garment Manufacturers and Exporters Association, said the garment exporters are facing difficulties as some commercial banks are showing reluctance in purchasing IBPs.

Mohammad Hatem, the acting president of Bangladesh Knitwear Manufacturers and Exporters Association, and Jahangir Alamin, the president of Bangladesh Textile Mills Association, were also present.

News: The Daily Star/Bangladesh/16th-Oct-12

Iftekhar Ahmed Tipu, Chairman of IFAD Autos Limited, and Farman R Chowdhury, Managing Director of ONE Bank Limited seen at an agreement signing ceremony at IFAD’s head office in Dhaka recently.

News: The Daily Sun/Bangladesh/15th-Oct-12