UBL zonal heads' confce held

Posted by BankInfo on Sun, Apr 23 2017 11:56 am

The 2nd Zonal Heads’ Conference-2017 of Uttara Bank Limited  held on yesterday (22-04-2017) at the Banks Head Office Conference Hall. Mr. Azharul Islam, Honorable Chairman of Uttara Bank Limited was present as chief guest. The conference presided over Mr. Mohammed Rabiul Hossain, Managing Director & CEO of Uttara Bank Limited. The meeting discussed overall achievement in the first quarter of the current year and various aspects for the year 2017. Additional Managing Director Mohammed Mosharaf Hossain, Deputy Managing Directors Mr. Maksudul Hasan, Mr. Sultan Ahmed, Mr. Md. Abdul Kuddus, Zonal Heads & other Executives of the Bank were also present in the occasion.

news:new nation/23-apr-2017

World Bank, Amundi launch $2b green bond fund

Posted by BankInfo on Sun, Apr 23 2017 11:40 am

AFP, Washington :
The World Bank's private financing arm on Friday launched a joint venture with Europe's largest asset manager, Amundi, to create a $2 billion green bond fund to unlock financing for environmental projects in developing countries.
In the wake of the Paris climate deal there is greater interest in finding new ways to direct financing towards environmental projects, such as renewable energy, Amundi's deputy head of institutional clients Frederic Samama said.
"People have realized we will only tackle climate change if we are able to mobilize the civil society as well. It's no longer just in the hands of policymakers," he told AFP, adding that the goal of the fund is to mobilize financial markets.
He said Amundi already has tested the waters with large institutional investors, including pension funds in Sweden, France and Germany, and a sovereign wealth fund in New Zealand, and "received very good feedback."
The World Bank's International Finance Corporation will invest up to $325 million in the new Green Cornerstone Bond Fund, which will buy green bonds issued by banks in Africa, Asia, the Middle East, Latin America, Eastern Europe and Central Asia, according to a statement.

news:new nation/23-apr-2017

MFS transaction limits taking toll on SMEs, e-commerce

Posted by BankInfo on Sun, Apr 23 2017 10:49 am

Several mobile financial service account holders are now using different SIM cards to do transactions, leading to an increase in the number of MFS accounts
 
Rajib Dhar

An account holder can now make deposits and withdraw amounts twice in a day. Previously, the limit for cash-in was five and for

On January 11 this year, Bangladesh Bank issued an order to all mobile financial service providers to comply with the revised mobile banking transaction ceiling, citing abuse of the facility by a section of people.

This limitation of the mobile financial service (MFS) transactions has now started taking a toll on users, especially SMEs and small e-commerce entrepreneurs.

According to the directive, a maximum of Tk15,000 can be deposited into an MFS account and Tk10,000 can be taken out each day. The previous daily ceiling was Tk25,000 both for cash-in and cash-out.

An account holder can now make deposits and withdraw amounts twice in a day. Previously, the limit for cash-in was five and for cash-out it was five.

Each month, a mobile money customer can deposit a maximum of Tk1 lakh, down from Tk1.50 lakh earlier. The maximum monthly withdrawal limit is Tk50,000 through 10 transactions at most.

Previously, the cash-out limit was Tk25,000 per transaction and three transactions were allowed at most. The overall cash-out limit used to be Tk1.50 lakh in 10 transactions a month.

The customer also cannot withdraw more than Tk5,000 within 24 hours after a deposit.

To withdraw cash of Tk5,000 and over, the customer must first show proper verification – national identity card or its photocopy – to the mobile banking agent.

Several MFS account holders are now using different SIMs to conduct transactions, leading to an increase in the number of MFS accounts this month.

According to a central bank report, though the total number of registered MFS accounts has increased by 18.89% and the number of active MFS accounts has risen by 44.85% to 23.9m in February in comparison with the previous month, however, the total number of MFS transactions has actually dropped by 11.42%.

The Dhaka Tribune interviewed a cross section of people, including rickshaw pullers, housewives, students, garments workers, Facebook based e-commerce businessmen and small online business owners, who all said they had been severely affected by the implementation of the revised transaction limit on February 1.

Rudmila Hasan, who runs an online shop for womens’ clothing, said the revised limit has been causing many difficulties for her in receiving payment from her customers as well as in paying her suppliers.

As she cannot deposit more than Tk15,000 in her supplier’s account in a single day, this has made sourcing clothes from the Islampur wholesale market very hard.

“Most of my customers used to send their payments to my mobile wallet. Now I have to discourage them for mobile payment as I cannot cash- out more than Tk10,000 in one day and Tk50,000 in a month. This is affecting my business seriously as many of my customers live outside Dhaka,” she said.

Hundreds of Facebook based e-commerce businesses are also facing similar problems.

However, Zahedul Islam, spokesperson of bKash, the largest MFS provider in the country said to overcome the problem, the e-commerce sellers could open merchant wallets with the MFS providers, after fulfilling certain criteria, as there is no ceiling on merchant payment.

E-commerce Association of Bangladesh President Rajib Ahmed said the government directive came at a time when country’s e-commerce and Facebook e-commerce were experiencing a rapid growth, and that the decision has now halted that growth.

“Ultimately, it will become an obstacle to building a Digital Bangladesh,” he said, adding that opening a merchant wallet was not supported by most e-commerce entrepreneurs since many of the business did not have TIN numbers or trade licenses.

The incomes of MFS agents have also gone down because of the revised transaction limit.

Mossarraf Hossain, an MFS agent in the Moghbazar area, said his income had nosedived due to the central bank’s latest directive.

news:dhaka tribune/23-apr-2017
  

City Bank arranges debt financing for two power plants of Summit Group

Posted by BankInfo on Sun, Apr 23 2017 10:23 am

Sheikh Mohammad Maroof, deputy managing director of City Bank  Ayesha Aziz Khan, managing director of Summit Power International Pte Ltd; Abdul Wadud, managing director of Summit Power Ltd, and Mahmood Malik, executive director of IDCOL, attend the closure ceremony of a $77.64 million financial arrangement by City Bank for two power plants of Summit Group. Photo: City Bank

Star Business Desk

City Bank has arranged funds for setting up two heavy fuel oil-based power plants of Summit Group.

The Summit Barisal Power Ltd will be of 110MW and the other one is 55MW Summit Narayanganj Power Unit II Ltd, City Bank said in a statement yesterday.

Infrastructure Development Company Ltd (IDCOL), Islamic Corporation for the Development of the Private Sector (ICD) and Opec Fund for International Development (OFID) have provided the debt funding for the projects.

Summit Group has borrowed $77.64 million from these institutions under the arrangement, according to the statement.

A financial closure ceremony was organised in Singapore on the successful completion of the financing arrangement.

Sheikh Mohammad Maroof, deputy managing director of City Bank; Ayesha Aziz Khan, managing director of Summit Power International Pte Ltd; Anjuman Aziz Khan, director of Summit Group, and Abdul Wadud, managing director of Summit Power Ltd, attended the deal signing ceremony.

Mahmood Malik, executive director and CEO of IDCOL, and Tareq Alnassar, director of OFID, were also present.

News:Daily Star/23-Apr-2017

SIBL agent banking confce held

Posted by BankInfo on Sun, Apr 23 2017 09:33 am

Social Islami Bank Additional Managing Director AMM Farhad is seen at an agent banking conference and training workshop organised by the bank at its training institute in the capital on Saturday.

news:daily sun/22-apr-2017




Social Islami Bank Limited (SIBL) organised an agent banking conference and training workshop at the bank's training institute in the capital on Saturday.
SIBL Additional Managing Director AMM Farhad inaugurated the conference as the chief guest, said a press release.
Chief Operating Officer of Rural Service Foundation Nitai Pada Saha attended the inaugural ceremony as the special guest, while the bank's Senior Executive Vice-president (SEVP) and Head of Agent Banking Md Akbar Ali presided over the programme.
The officials of the bank's agent banking outlets took part in the conference. - See more at: http://www.observerbd.com/details.php?id=70079#sthash.ZkadAWdS.dpuf
Social Islami Bank Limited (SIBL) organised an agent banking conference and training workshop at the bank's training institute in the capital on Saturday.
SIBL Additional Managing Director AMM Farhad inaugurated the conference as the chief guest, said a press release.
Chief Operating Officer of Rural Service Foundation Nitai Pada Saha attended the inaugural ceremony as the special guest, while the bank's Senior Executive Vice-president (SEVP) and Head of Agent Banking Md Akbar Ali presided over the programme.
The officials of the bank's agent banking outlets took part in the conference. - See more at: http://www.observerbd.com/details.php?id=70079#sthash.ZkadAWdS.dpuf
Social Islami Bank Limited (SIBL) organised an agent banking conference and training workshop at the bank's training institute in the capital on Saturday.
SIBL Additional Managing Director AMM Farhad inaugurated the conference as the chief guest, said a press release.
Chief Operating Officer of Rural Service Foundation Nitai Pada Saha attended the inaugural ceremony as the special guest, while the bank's Senior Executive Vice-president (SEVP) and Head of Agent Banking Md Akbar Ali presided over the programme.
The officials of the bank's agent banking outlets took part in the conference. - See more at: http://www.observerbd.com/details.php?id=70079#sthash.ZkadAWdS.dpuf
Social Islami Bank Limited (SIBL) organised an agent banking conference and training workshop at the bank's training institute in the capital on Saturday.
SIBL Additional Managing Director AMM Farhad inaugurated the conference as the chief guest, said a press release.
Chief Operating Officer of Rural Service Foundation Nitai Pada Saha attended the inaugural ceremony as the special guest, while the bank's Senior Executive Vice-president (SEVP) and Head of Agent Banking Md Akbar Ali presided over the programme.
The officials of the bank's agent banking outlets took part in the conference. - See more at: http://www.observerbd.com/details.php?id=70079#sthash.ZkadAWdS.dpuf
Social Islami Bank Limited (SIBL) organised an agent banking conference and training workshop at the bank's training institute in the capital on Saturday.
SIBL Additional Managing Director AMM Farhad inaugurated the conference as the chief guest, said a press release.
Chief Operating Officer of Rural Service Foundation Nitai Pada Saha attended the inaugural ceremony as the special guest, while the bank's Senior Executive Vice-president (SEVP) and Head of Agent Banking Md Akbar Ali presided over the programme.
The officials of the bank's agent banking outlets took part in the conference. - See more at: http://www.observerbd.com/details.php?id=70079#sthash.ZkadAWdS.dpuf
Social Islami Bank Limited (SIBL) organised an agent banking conference and training workshop at the bank's training institute in the capital on Saturday.
SIBL Additional Managing Director AMM Farhad inaugurated the conference as the chief guest, said a press release.
Chief Operating Officer of Rural Service Foundation Nitai Pada Saha attended the inaugural ceremony as the special guest, while the bank's Senior Executive Vice-president (SEVP) and Head of Agent Banking Md Akbar Ali presided over the programme.
The officials of the bank's agent banking outlets took part in the conference.
- See more at: http://www.observerbd.com/details.php?id=70079#sthash.ZkadAWdS.dpuf
Social Islami Bank Limited (SIBL) organised an agent banking conference and training workshop at the bank's training institute in the capital on Saturday.
SIBL Additional Managing Director AMM Farhad inaugurated the conference as the chief guest, said a press release.
Chief Operating Officer of Rural Service Foundation Nitai Pada Saha attended the inaugural ceremony as the special guest, while the bank's Senior Executive Vice-president (SEVP) and Head of Agent Banking Md Akbar Ali presided over the programme.
The officials of the bank's agent banking outlets took part in the conference.
- See more at: http://www.observerbd.com/details.php?id=70079#sthash.ZkadAWdS.dpuf
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