BASIC Bank Limited opened its 44th branch at Pahartali in Chittagong yesterday.

Sheikh Abdul Hai Bachchu, former lawmaker and chairman of BASIC Bank, inaugurated the branch, said a press release.

Prof Dr Kazi Akhtar Hossain, member of the board of directors, Kazi Fakrul Islaml, managing director, Sheikh Manjur Morshed, additional managing director of BASIC Bank, Eng Ali Ahmed, former president of Chittagong Chamber of Commerce, local elites and businessmen attended the function.

"We disburse loans as per rules and regulations, so we have no default loan in the market", Sheikh Abdul Hai Bachchu said while addressing the function.

The Daily Sun/Bangladesh/ 28th Dec 2011

The country fetched total US$ 877.21 million remittance in the last three weeks of the current month.

Islami Bank Bangladesh Ltd (IBBL), a private commercial bank, channelled US$ 210.05 million, the highest amount in the said period while the inflow of foreign exchange through four state-owned commercial banks, Sonali, Agrani, Janata and Rupali Bank totalled US$ 230.91 million.

The Non-Resident Bangladeshis (NRBs) sent US$ 78.84 million through Sonali Bank, while it was US$ 85.03 million through Agrani Bank, US$ 60.83 million through Janata Bank and US$ 6.21 million through Rupali Bank.
Among the specialised banks, Bangladesh Krishi Bank (BKB) has channelled US$ 8.98 million.

The remittance sent through nine foreign banks totalled US$ 9.75 million in the period while that through 30 private commercial banks was US$ 627.57 million.

The Daily Sun/Bangladesh/ 28th Dec 2011

Bangladesh Bank (BB) releases two commemorative silver coins and a note marking the 40th victory anniversary of Bangladesh and 90 years of the poem ‘Bidrohi’ of National Poet Kazi Nazrul Islam on Monday.

BB governor Dr Atiur Rahman will formally release the coins and note at a function to be held in BB’s conference room at 3.30 pm, says a press release.

A commemorative coin and note which bear signature of the governor will have the portrait of Father of the Nation Bangabandhu Sheikh Mujibur Rahman on one side and above the portrait, the coin and note will carry the words “Ebarer Sangram Amader Muktir Sangram, Ebarer Sangram Amader Swadhinatar Sangram” in Bangla and below the portrait the words “Bangabandhu Sheikh Mujibur Rahman’ and ‘Bangladesh Bank’ in English.

On the left side of the portrait, ‘10’ and ‘TEN TAKA’ and other side of the coin and note will bear six images of veteran freedom fighters and above the images, the coin and note carry the words “Bangladesher Chalishtama Bijoy Barshiki” in Bangla and ‘40th Victory Anniversary of Bangladesh’ and ‘2011’ in English.

The coin that will be released marking the 90 years of the poem “Bidrohi’ will have the portrait of poet Kazi Nazrul Islam on one side and above the portrait, the words “Bidrohi Kabiter 90 Basar” in Bangla and ‘Poet Kazi Nazrul Islam’ and ‘90 Years of the Poem Bidrohi’ ‘1921-2011’ in English will be imprinted.

Left side of the portrait, ‘10’ and ‘TEN TAKA’ and other side of the coin will bear the words ‘Balo-Bir Unnata Mamo Shir!  Shir Nehari Amari Natoshir Oi Shikhar Himadrir’ of the poem and signature of poet Kazi Nazrul Islam and above it; the coin will have the words ‘BANGLADESH BANK’ in Bangla and below ‘Bangladesh Bank’ and ‘2011’ in English.After the programme, one piece silver coin in a beautiful box and a note with a folder and envelope will be available from BB’s Motijheel office at the cost of Tk 3,500 and Tk 200. Only the note will be sold at Tk 40. The coins and note will be available from all branches of BB and other commercial banks afterward.

The Daily Independent/Bangladesh/ 26th Dec 2011

Speakers at a daylong workshop have asked the branch level bankers to put in their best efforts to resist money laundering and finance towards tourism for the sake of freeing the nation from various social crimes.

Terming the border-belt Rajshahi and Chapainawabganj as the crime-prone districts they said the bankers must be sincere and alert so that money laundering and finance towards terrorism could be reduced to a greater extent.

South East Bank Limited organised the workshop on the issue for the branch level executives and officers of the two districts at its Rajshahi branch here on Sunday aimed at disseminating updated knowledge and strategies on how to stop the malpractices.Deputy general manager of Bangladesh Bank Kazi Rafiqunnabi addressed the workshop as the chief guest while Joint director Enamul Haque and deputy director Saidul Islam Taher spoke on the occasion as resource persons.

Senior vice president of the South East Bank Limited Ariful Haque chaired the inaugural session. Stressing the need on preventing the money laundering and finance towards terrorism the speakers urged upon the participants to utilize the acquired knowledge from the course in their respective working fields properly for ensuring a transparent atmosphere in the banking sector.

In this regard, they mentioned that free flow of illegal money always create an unusual situation together with breeding various social crimes in every spheres of life.So, this is the high time to end the malpractice and the bankers have a vital role as the present government as well as the Bangladesh Bank is very much sincere in this regard.

The Independent/Bangladesh/ 26th Dec 2011

Banks' exposure to the stockmarket came down within the safe limit at the end of the year, but their total investment still runs into more than Tk 15,000 crore.

The exposure of banks to stocks has been around 4 percent of their liabilities as of November 30, according to statistics from Bangladesh Bank. Banks are allowed to invest 10 percent of their liabilities in stocks.

A year ago, the situation was a bit different. Of 44 banks, 12 invested more than 10 percent of their liabilities in stocks. The exposure of only three banks was more than 20 percent of their liabilities, while another three banks exceeded 15 percent.

When the stockmarket was at its peak in September last year, investment by the banks was Tk 23,000 crore in terms of market value. On November 30 this year, it has come down to Tk 15,000 crore in market value.
An official of National Credit and Commercial Bank said his bank's investment decreased in the last one year, as the market price of their shares fell. He said their real investment remained the same.

Although investment in the market is a bit risky, bankers said, commercial banks are still investing in stocks.
A high official of Janata Bank said as the money in the Banks is depositors' money, they invest cautiously. They invest in companies that give profits to their share-holders and have a good price earnings ratio.

An official of Shahjalal Bank said the Bank's profit from the stockmarket will not be as much as it was last year. He said many banks will still make profits from the sluggish market. If the general investors invest cautiously, they will also be able to profit, the official said.

The Banks made a profit of Tk 2,500 crore from the stockmarket last year, according to statistics from the central bank.

Of the total investment of Tk 15,000 crore made by banks, Tk 9,039 crore was in the banks' own portfolios, Tk 4,802 crore as loans to its subsidiaries and Tk 1,193 crore was in other stockmarket loans as of November 30.

The total exposure of the four state-owned commercial banks in the share market is Tk 3,148 crore or 2.40 percent of their liabilities.

The total exposure of 24 private commercial banks is Tk 10,132 crore or 4.46 percent, while it is Tk 1,238 crore or 1.57 percent for six Islami banks.

Of the foreign banks, only one bank -- Bank Al Falah -- has exposure worth Tk 12 crore. Of the specialised banks, Bangladesh Development Bank's exposure is Tk 504 crore.

Bangladesh Bank will meet today with the chief executive officers of all banks where different risks and initiatives, including issues related to the capital market in the coming year, will be discussed.

There remains a debate over how much investment the commercial banks can make in the share market. International practice shows a commercial bank cannot investment more than 25 percent of its capital.

Most experts and economists in Bangladesh feel that banks' investment in the market must be related to its capital. If that is taken into consideration, the banks in Bangladesh have invested much more.

However, the central bank in its draft bank company act made a proposal to this effect but there is still ambivalence in the government regarding it.

The Daily Star/Bangladesh/ 26th Dec 2011