Others beyond Sonali involved in scam

Posted by BankInfo on Mon, Sep 10 2012 03:46 am

Finance Minister AMA Muhith yesterday said many from outside the Sonali Bank were involved in the much-talked-about Hall-Mark swindle.

Without mentioning any names, he said those linked to the scandal had been identified following much investigation. And cases would be filed in this regard “very soon”.

Muhith added it was a mistake on his part to say that crores of taka swindled out of a Sonali Bank branch was a petty sum.

“I have acknowledged my mistake, and those who don't admit mistakes lack moral strength”, he told reporters at his secretariat office hours before leaving for China last night on a 10-day tour to join the World Economic Forum meeting.

The minister replied to journalists' queries on a number of issues, including Padma bridge funding, Grameen Bank and Mashiur Rahman's and his resignation.

Recently, a Bangladesh Bank probe found serious anomalies in the lending of Tk 3,606 crore to the Hall-Mark Group and five other companies.

Half of the loans, granted by the Sonali Bank's Ruposhi Bangla Hotel branch, were based on forged documents.

Muhith yesterday said it was quite impossible that such a grave offence was being committed and yet nobody in Sonali Bank had noticed it.

Replying to a query about extending the tenure of the Sonali Bank chairman and directors for another two years, the finance minister said a three-member board led by the chairman would remain in office.

Muhith said a government official and a chartered accountant had been kept as board members and the tenure of no other director had been extended.

A board is necessary for taking decisions on a number of matters, including cases regarding the scam, he added.

The minister said the Sonali Bank board would be reconstituted and a decision in this regard taken on his return from China.

About the demand for his resignation, he said, “There are many demands like this …. But I have not taken any decision.”

The minister also spoke on the bridge project. “We have been in talks with the World Bank, Asian Development Bank and Japan International Cooperation Agency (Jica) in this regard. I will speak about this after the talks conclude.”

Muhith declined to comment on the WB condition relating to the removal of the Prime Minister's Economic Affairs Adviser Mashiur Rahman for the funding of the project.

“Talks are also going on with the World Bank about this matter. I cannot say anything about this at this point.”

Also yesterday, Muhith defended a recent change in the Grameen Bank Ordinance, saying the government had brought in the amendment to appoint a full-time managing director.

The appointment “must be done”; it had long been pending owing to objections apparently from directors, he said.

The world-renowned microcredit organisation has been run by an acting chief executive since its founder, Nobel Laureate Prof Muhammad Yunus, stepped down in May last year.

Grameen Bank supporters both at home and abroad and also the nine elected women borrower-directors say the change has been introduced to curb the authority of the majority of the board in choosing the managing director and give more powers to the government-picked chairman.

The minister also said the law did not permit the powers exercised over the last 27 years in appointing the managing director.

"The government allowed this to let a good thing continue. But there are two sides of the coin -- one is flexibility and the other is unaccountability,” he added.

News: The Daily Star/Bangladesh/10-Sep-12

Krishi Bank Opens Two New Branches

Posted by BankInfo on Fri, Dec 17 2010 07:21 am

Bangladesh Krishi Bank (BKB), a government bank specialised to finance agricultural sector of the country, has launched two new branches in Comilla and Munshigonj recently. Local MP Professor M Ali Ashraf inaugurated the bank's 963rd branch at Joyagh Bazar under Chandina upazila in Comilla. While the bank's 964th branch at Baraikhali Bazar under Sreenagar upazila in Munshigonj was inaugurated by local MP Sukumar Ranjan Ghosh on the same day.

According to the bank's website, 130 of the total branches of the bank are located in urban areas while the rest are in rural areas. The primary objective of BKB is to provide credit facilities to the farmers for the development of agriculture and entrepreneurs engaged in development of agro-based and cottage industries.

News Source: Daily Sun/17 Dec 2010


New Managing Director of IFIC Bank Limited

Posted by BankInfo on Sun, Dec 05 2010 05:44 pm

Mr. Mohammad Abdullah has assumed the Office of the Managing Director of IFIC Bank Limited with effect from 1st December, 2010. Prior to this assignment, he was the Deputy Managing Director of the Bank.

Mr. Abdullah has 37 years of banking experience to his credit. He started his career with Agrani Bank in the year 1973 as Probationary Officer and held different positions there. He joined IFIC Bank Limited in March, 1986 as Assistant Vice President and was entrusted with many important assignments of the Bank including Head of International Division. He also held the position of General Manager, Pakistan Operations of the Bank and was posted at Lahore and Karachi for 10 years. He attended many seminars/ workshops/training courses on Banking and Finance at home and abroad. He is a fellow of the Institute of Bankers, Pakistan.

Source: Prothom Alo, Bangladesh/5th Dec 2010

New Branch of Shahjalal Islami Bank in Valuka

Posted by BankInfo on Tue, Nov 23 2010 08:10 pm

Shahjalal Islami Bank Limited has launched their 54th branch of SME or Agri branch activity recently in Valuka of Mymensing. Director and Ex-Chariman of the bank Mr. Akkas Uddin Mollah has inaugurated the bracnh as a chief guest. Mr. Mukhtar Hossen, Managing Director of the bank chaired the inaugural ceremony.

Mr. Syed Nurul Arefin, director of the bank; chariman of Valuka Sub-district council Kazim Uddin Ahmed, chairman fo Valuka market co-operative society Mr. Mokhlesur Rahman and Ex-Chariman of BRDB Mr. Ali Asgar shared their ideas and views in the program .