Zakir Ahmed Khan, an adviser to Southeast Bank, inaugurates the 81st branch of the Bank in Munshiganj recently. Shahid Hossain, deputy managing director, was also present.

The Daily Star/Bangladesh/ 26th Dec 2011

Md Abdul Jalil, MP, chairman of Mercantile Bank, is seen inaugurating the new office of Dhanmondi branch yesterday.

Mercantile Bank Limited (MBL) has relocated its Dhanmondi Branch from Cosmos Tower to Sima Blossom yesterday.

Md Abdul Jalil, MP, chairman of the Bank, inaugurated the new premises, said a press release.

The branch is now located at Road no 27 (old), 16 (new) in Dhanmondi residential area.

The Daily Sun/Bangladesh/ 23th Dec 2011

ONE Bank Limited has opened its 54th branch at Ring Road in the city’s Shyamoli area recently.

Asoke Das Gupta, director of the Bank, formally inaugurated the branch, said a press release.

Kazi Rukunuddin Ahmed, director, Johora Bebe, deputy managing director, other senior executives of the Bank and local elites attended the programme.

The Daily Sun/Bangladesh/ 25th Dec 2011

Bangladesh Bank has directed the private commercial banks to open more branches in the rural areas to maintain the same ratio to those in the urban areas.

The directive came through a circular on Thursday, making a 1:1 proportion mandatory for rural and urban branches. The order will come into effect immediately.

Bangladesh Bank sources said that the decision has been taken with an objective to spread the banking services among the people of rural areas who have been deprived of banking facilities.

The circular mentioned that the branches, opened in city corporation or municipality areas, will be considered as urban branches while the branches set up out of the city corporation or municipalities, will be counted as rural branches.

If any region comes under a municipality or city corporation, branches located in the region will be counted as urban branches, the circular said.

For the newly created municipalities, the branches set up their earlier will be considered as urban branches, it added.

The Daily Sun/Bangladesh/ 25th Dec 2011

Bangladesh Bank (BB) Governor Atiur Rahman yesterday said the central bank has intensified financial inclusion movement to ensure sustainable development.

It increased credit flow to agriculture, small and medium enterprises and environment-friendly projects, he said.

"The central bank has taken various steps to help the government ensure sustainable development and equitable economic growth for poverty reduction," the governor said while addressing the reunion of the finance alumni of Dhaka University Finance Department.

During global economic crisis, Bangladesh efficiently maintained macroeconomic balance, he said, adding that despite external and internal risks, sustainable agricultural growth and sensible expansion of service and manufacturing sectors helped Bangladesh achieve a 6.7 percent GDP growth in last fiscal year.

"The government is expecting a 7 percent growth in the current fiscal year. During the last three years, the country achieved 47 percent growth in export, and inflow of remittance also witnessed a 20 percent growth and forex reserve reached $9.35 billion," said the BB governor.

He said the euro zone has been facing a new financial crisis. To avert its negative impacts, the BB will have to closely monitor the possible overall economic risks side by side, playing a proactive role to minimise those risks, he added.

"For achieving long-term sustainable growth, we've to diversify our export products and look for new markets," he said.

"We've to discourage import of unproductive luxurious products and check unnecessary state and social expenditures," he added.

Rahman said Bangladesh needs to continue its hunt for new labour markets, and steps must be taken to increase manpower exports to the existing markets. Internal demand for manpower must be increased through expanding social safety net for the hardcore poor, he added.

The governor said economic cooperation must be strengthened at regional and international level to face possible economic crisis.

Especial emphasis will be given on intensifying intra-regional trade and cooperation through using the regional network such as Asian Clearing Union and Saarc, Rahman added.

The Daily Star/Bangladesh/ 25th Dec 2011