Md Abdul Quddus, deputy managing director of First Security Islami Bank Limited hands over a cheque to Merina Zaman Shuvra recently.

First Security Islami Bank Limited has handed over a cheque of Tk 1,00,000 to Merina Zaman Shuvra, a nominee, as free life insurance facility against Mudarabah monthly deposit scheme recently.

Md Abdul Quddus, deputy managing director of First Security Islami Bank Limited handed over the cheque to the nominee Merina Zaman Shuvra, said a press release.

Among others, Syed Waseque Md Ali, depury managing director, Ekram Ullah, manager FSIBL Mohakhali Branch, Azam Khan, head of marketing and development division were also present on the occasion.

Md Muraduzzaman, a client of Mudarabah Monthly Deposit Scheme of FSIBL Mohakhali branch has expired recently.

The Daily Sun/Bangladesh/ 5th Feb 2012

Rajshahi Krishi Unnayan Bank (RAKUB) has taken a massive plan to disburse agriculture loan to the farmers of the district for cultivation of Boro and Potato including vegetables during the current Robi season.

Bank sources said the aim of the loan disbursement is to encourage the growers and help them boost production of crops including vegetables for achieving the country’s food security by 2012 side by side with changing their lots economically.

The Bank has set a target to disburse a total of Tk300m to the farmers of all the seven upazilas in the district through 24 branches of the bank during the current fiscal. Of the total, about Tk30m had already been distributed to the 987 farmers for boro cultivation, Tk80m to 1014 farmers for potato and Tk17.8m to 822 farmers for vegetables of the district till December 31, 2011 to help them boost production of the varieties.

Each of the growers had received the loan ranging from 20,000 to 50,000 from the Bank.
Deputy General Manager and also zonal manager of the RAKUB Abdul Jalil told BSS that necessary measures had been taken to disburse the targeted loan to the farmers of the district through motivating them by the Bank officials at the field level.

About 1, 20,000 hectares of land would be brought under Boro paddy and 9,300 hectares of land under potato cultivation in the district during the current season, said deputy director of DAE AH Bazlur Rashid.

The Daily Sun/Bangladesh/ 1st Feb 2012

Bangladesh Bank (BB) has issued some guidelines on uniform accounting procedures for Repo transactions of government securities by all scheduled banks and financial institutions.

In view to help the process of liquidity support, given by the central bank to the primary dealer banks of government securities, it has been decided to consider as Collateralised REPO Transaction instead of outright buy/sell.

The Department of Offsite Supervision (DOS) of BB issued a circular in this regard on Sunday.
The circular said the Collateralised REPO Transaction will only be applicable for taking liquidity support from central bank by the primary dealer banks of government securities.

The Daily Sun/Bangladesh/ 1st Feb 2012

The central bank yesterday issued a circular to clarify that non-bank financial institutions' investment in their subsidiary would not be considered while measuring their exposure to the capital market.

In line with the circular, long-term capital investment of non-bank financial institutions in other companies will not be considered as its exposure limits to the stockmarket.

On November 23, the Securities and Exchange Commission declared short-, mid- and long-term steps to stabilise the market.

The SEC said: “The loans provided by banks and financial institutions to their capital market subsidiaries and long term equity investment will not be taken into account while estimating their 'exposure to stock market'.”
The Bangladesh Bank has extended the deadline for financial institutions to adjust their single-party exposure relating to the stockmarket by one year to December 31 of 2013, according to the circular.

Single party exposure limit is 15 percent. It means if a financial institutions' paid-up capital is Tk 200 crore, it cannot lend more than Tk 30 crore to its subsidiary.

Besides, in case of provisioning stockmarket investment by financial institutions, gains and losses would be considered instead of net loss only.

The copies of the central bank circular have been sent to chiefs of all financial institutions.

The Daily Star/Bangladesh/ 1st Feb 2012

Dr Atiur Rahman, governor of Bangladesh Bank, poses with the departing deputy governors of the bank: Nazrul Huda, Ziaul Hassan Siddiqui, and Murshid Kuli Khan at their farewell. The newly appointed deputy governors: Nazneen Sultana, Abu Hena Mohd Razee Hassan and Shitangshu Kumar Sur Chowdhury were also present.

The Daily Star/Bangladesh/ 1st Feb 2012