Banking
NBL inaugurates money transfer
Neaz Ahmed, managing director of NBL, inaugurates NBL Money Transfer (Maldives) Pvt Ltd at Male in Maldives recently.
NBL Money Transfer (Maldives) Pvt Ltd, a subsidiary exchange company of National Bank Limited, was inaugurated at Male, Maldives recently.
Parveen Haque Sikder, chairperson of executive committee of board of directors of NBL attended the inaugural ceremony as the chief guest, said a press release.
Alhaj Khalilur Rahman, Prof Mahbub Ahmed, directors of NBL and Lisa Fatema Haque, director of NBL Money Transfer, Greece and UK were present as special guests.
Neaz Ahmed, managing director of NBL presided over the inaugural ceremony where Shamsul Huda Khan, deputy managing director of NBL moderated the function.
A large number of Bangladeshi expatriates living in Maldives attended the inaugural function.
The Daily Sun/Bangladesh/ 4th Jan 2012
ADB to provide US$250m for upgrading 110 kms highway to 4-lane
Asian Development Bank (ADB) has agreed to provide US$ 250million to Bangladesh for upgrading 110 kilometers of highway to four lanes from Joydevpur-Tangail-Hatikumrul.
ADB country director Thevakumar Kandiah conveyed the news during a meeting with Communications Minister Obaidul Kader at his ministry.
After the meeting, acting Secretary of the Communications Ministry MAN Siddique told reporters that the funding of the highway will be finalised at the next meeting of the ADB Board of Directors. —UNB
The Daily Sun/Bangladesh/ 4th Jan 2012
US dollar hits new high at Tk 83.50
The crisis of US dollar in the inter-bank market has taken the exchange rate of the greenback to all-time high at Taka 83.50 on Tuesday, market sources said.
The rate of US dollar has increased by Tk 1.25 in a span of five days due to huge pressure on the local currency Taka, a senior official of a private bank said.
To overcome the crisis, the Bangladesh Bank (BB) has started to investigate into smuggling of the US dollar through the kerb market, as the rate of the greenback was volatile during last couple of months, BB sources said.
In December 2010, the US dollar was sold for Tk 69 in inter-bank money market while it was Tk 82. 50 during the same month last year, data showed.
NCC Bank, a private commercial bank, sold US dollar for Tk 82.50 yesterday while Citibank NA sold it for Tk 83.50. The central bank is monitoring the matter on information that a group of importers collected US dollar from the kerb market for opening letter of credit (LCs) and thus smuggled the dollar abroad through under invoicing.
There is an allegation against some unscrupulous businessmen for their involvement with smuggling US dollar during last several months.
Last year, the central bank cancelled licenses of 395 money exchangers on allegation of smuggling the greenback, but the effort ended with no result, BB official said.
Executive director of Bangladesh Bank (BB) Jahangir Alam said they had already received allegations against some money changers. “Now, we are inquiring into the matter,” he added.
Alam also pointed out that crisis of US dollar may intensify further as the amount of import raised during last couple of months.
The Daily Sun/Bangladesh/ 4th Jan 2012
MTB's new additional MD
Md Ahsan-uz Zaman has recently been promoted as the additional managing director of Mutual Trust Bank, the Bank said in a statement yesterday.
Prior to the promotion, he was the deputy managing director of the Bank. Zaman joined the Bank in 2009.
An MBA from the Institute of Business Administration in Dhaka University, he also served Bank of America, JPMorgan Chase Bank, Morgan Stanley and BNP Paribas in New York, USA.
The Daily Star/Bangladesh/ 4th Jan 2012
First Security donates 3,000 blankets, one ambulance
As a part of corporate social responsibility programme, First Security Islami Bank Limited (FSIBL) has donated 3,000 blankets for cold hit distressed people of Panchagarh and Fulbari Upazila of Dinajpur. In this connection a programme was held on Monday at a local hotel where an ambulance was also donated to Rotary Club of Jessore for Rotary Health Centre.
Dr. Atiur Rahman, governor, Bangladesh Bank, handed over blankets to Rahim Abdur Rahim, executive director of Bidrohee Shishu Kishore Theater, Panchagarh and Aminul Islam Bablu, chairman, Phulbari Upazila Parishad, Dinajpur.
Past president Rotarian Chinmoy Shaha, past president Rotarian AZM Salek, past president Rotarian Jamil Hossain of Rotary Club of Jessore received the ambulance from Bangladesh Bank governor Dr. Atiur Rahman.To mitigate the sufferings of cold hit people of the country First Security Islami Bank Limited has also distributed 5000 blankets in different part of Jessore, Satkhira, Kushtia, Rajshahi, Pabna, Bogra, Dinajpur and Rangpur from December 29, 2011 through its branches.
Among others, SK Shur Chowdhury, executive director, Bangladesh Bank, AAM Zakaria, managing director, Md. Abdul Quddus, deputy managing director, Syed Md. Waseque Ali, deputy managing director, FSIBL spoke on the occasion. The programme was attended by divisional heads, branch managers of Dhaka City of First Security Islami Bank Limited, Rotarian M. Jamaluddin and Rotarian M. Hafizullah, past district governor, Rotary District 3280, valued clients and well-wishers were also present.
The Daily Independent/Bangladesh/ 3rd Jan 2012