Dr. Moha-mmed Haider Ali Miah recently joined Ex-port Import Bank of Ban-gladesh Li-mited as Managing Director.

Prior to his new assignment, he was Additional Managing Director, Deputy Managing Director and also served in various capacities, said a press release.

Dr. Haider started his career as a Probationary Officer with IBBL in 1984.

After completing his BSc (Hons) and MSc from the University of Dhaka, he obtained MBA degree from the London Institute of Technology and Research (LITR), UK.

He obtained Diploma from the Institute of Bankers' Bangladesh (DAIBB) and Post Graduation from the Institute of Islamic Banking and Insurance, London and completed PhD from American World University, USA.

Dr. Ali, a renowned columnist and writer of some books on Islamic Banking, was accorded three times with Exim Bank gold medals for his outstanding performance.

The Daily Sun/Bangladesh/ 25th July 2012

Azam Khan, Head of Marketing and Development, First Security Islami Bank Limited (FSIBL), exchanges documents with Mohiuddin Khan Khokon, Director, Sales and Marketing of Hotel The Cox Today.

First Security Islami Bank Limited (FSIBL) signed a corporate agreement with Hotel The Cox Today on providing hospitality service.

Azam Khan, Head of Marketing and Develop-ment, First Security Islami Bank Limited and Mohiuddin Khan Khokon, Director Sales and Marketing, Hotel The Cox Today signed the agreement recently.

Employees and clients of the Bank will enjoy various privileges under this agreement.

Syed Waseque Md Ali, Deputy Managing Director, First Security Islami Bank Limited, Sumon Shariar, Assistant Manager, Sales and Marketing, Md. Arif Hossain, Senior Executive Sales and Marketing, Hotel The Cox Today were present on the occasion.

The Daily Sun/Bangladesh/ 25th July 2012

Mahbubul Alam, Managing Director of Southeast Bank Limited, inaugurates an ATM Booth at Hathajari, Chittagong recently.

Southeast Bank Limited expanded its own ATM network by opening a new ATM Booth at Hathajari Branch, Chittagong recently.

Managing Director of the Bank Mahbubul Alam inaugurated the ATM Booth as the chief guest, said a press release.

Anwar Uddin, Executive Vice President and Head of Agrabad Branch, Md. Mojibul Hoque, Senior Assistant Vice President and Head of Hathajari Branch, other high officials and local individuals were present.

The Daily Sun/Bangladesh/ 25th July 2012

The central bank has refuted the concerns of the banking sector over a jump in non-performing loans (NPL) due to enforcement of the new rules on classification, provisioning and rescheduling of loans.

“NPL may go up to 8.5 percent from around 6.5 percent now due to the new loan rules,” SK Sur Chowdhury, deputy governor, told The Daily Star, quoting an impact assessment study on the new rules.

Bangladesh Bank (BB) carried out the study following bankers' concern that the banking industry would negatively be affected by the new rules that became effective from July 1.

Under the new provisions, an ongoing loan operation will be classified in the event of non-repayment of any installment within three months instead of earlier-fixed six months.

The base for provisioning has been set at a minimum level of 20 percent of the outstanding balance of the credits, while strictly limiting the rescheduling facility of any default loan, up to three times.

According to new rules, non-repayment period against a term-loan for more than two months will be treated as a "specially mentioned account" and the non-repayment period between 3-6 months will be classified as substandard. If the non-repayment period is more than six months, it will be treated as default loan.

The Association of Bankers Bangladesh, a forum of chief executive officers, requested the BB to extend the deadline for the implementation of its new instructions on loan classification and provisioning up to January 1, 2014, instead of July 1.

Otherwise, the bankers said the NPL would jump in the next quarter. Some top bankers said the NPL would double or more due to the new rules.

Not only bankers, manufacturers and exporters also expressed their concern saying that the new loan rules would hurt their industries. But the central bank does not agree with the bankers with their concern.

“Banking industry may face trouble for the time being, but in the long run it will establish credit discipline,” said the BB deputy governor.

Chowdhury said some people in Bangladesh take loans from banks with an intention not to pay it. These borrowers get defaulted and reschedule their loans to get new loans, he said.

“We want to stop this bad intention of borrowers,” he said.

The Daily Star/Bangladesh/ 25th July 2012

Stocks gained 2.78 percent yesterday, the highest this month, owing to institutional investors' increasing participation in the market.

The rally continued for a second consecutive day as DGEN, the benchmark general index of the Dhaka Stock Exchange, gained 116.91 points to close the day at 4,318.79 points.

The opening 30 minutes of the day saw a rise of 110 points, and the momentum continued until the close of trade.

“Institutional investors, including banks, which publicised their intent to make fresh investments, followed up and bought shares, while some corporate dividend announcements, too, improved investor sentiment,” said Ahmed Rashid, senior vice president of the DSE.

Rashid added that the market is on its way to stability and is hopeful of a boost to small investors' confidence.

“New commitments from banking institutions reassured the investors that the liquidity would remain aplenty during the forthcoming period,” said LankaBangla Securities in its market analysis.

Latest policy decision by the government regarding the Padma bridge project also added to investors' positive outlook, it said.

“The rally went on for a second consecutive session, with improved turnover as well. Expectation of the rally persuaded investors to make fresh investments,” said IDLC Investments in its market commentary.

Turnover stood at Tk 289 crore, a 38.87 percent rise from the previous day.

A total of 0.89 lakh trades were executed on the premier bourse, with 6.58 crore shares and mutual fund units changing hands.

Among the major sectors, non-life insurance gained the most at 4.99 percent.

Non-bank financial institutions, power and textile were the other noteworthy movers, having risen by 3.97 percent, 2.66 percent and 2.37 percent respectively.

Of the 268 issues that traded on the DSE, 247 gained, 14 declined and seven remained unchanged.

Grameenphone was the top traded stock of the day, recording transactions of 6.85 lakh shares worth Tk 14.24 crore.

Beximco and Bangladesh Submarine Cable Company were the next popular stocks, registering figures of Tk 13.79 crore and Tk 12.64 crore respectively.

The biggest gainer of the day was Dhaka Insurance with its 9.98 percent rise, while Beximco lost the most, at 12.18 percent.

The Daily Star/Bangladesh/ 25th July 2012