Bangladesh Commerce Bank Limited (BCBL) has opened its 28th branch in Feni recently.

A Q Siddiqui, chairman of board of directors of the Bank formally inaugurated the branch, said a press release.

S A Chowdhury, managing director, Dr Muhammad Asaduzzaman, deputy managing director, members of the board of directors, senior executives of the Bank, local elites and a large number of valued customers were also present on the occasion.

Source: The Daily Sun/ Bangladesh/ 6th Dec 2011

CC Bangladesh President Mahbubur Rahman speaks at a workshop on ICC Rules and Tools for International Trade, in the capital yesterday.

Banks and businesses in the country need to take stringent measures to ensure that their sales transactions are watertight considering the on-going global economic crisis, said ICC Bangladesh President Mahbubur Rahman yesterday.

He said the global financial crisis will also increase economic uncertainty in Bangladesh, making it difficult for the country to achieve its target annual growth rate of 7 percent, according to World Bank.

The huge borrowing by the government during the first five months of current fiscal year as well as the ongoing volatile situation in the stockmarket will discourage banks to extend credit to the private sector, said Rahman.

He made the comment following ICC Global Trade Finance survey of International Chamber of Commerce (ICC) that gleaned hard facts from more than 100 countries.

The survey reported that 34 percent of the respondents indicated an increase in the percentage of documents refused on first presentation and 94 percent of the respondents experienced increased pressure from applicants to refuse documents during 2010, Rahman said.

He spoke while inaugurating a daylong workshop on ICC Rules and Tools for International Trade in the capital. ICCB organised the event with support from Eastern Bank.

In a report released on November 29, the World Bank said that economic growth in Bangladesh was strong in the fiscal year that ended this June, reaching 6.7 percent. But the donor agency said the growth outlook for the July 2011-June 2012 fiscal year remains uncertain.

"We are already noticing the effect of debt problems in the United States and the Euro-zone on Bangladesh's balance of payments and pressure on the exchange rate. It also noted that the country's slow pace of reforms, inadequate energy supply and poor infrastructure may also affect domestic and foreign investment further dampening economic prospects," Rahman said.

According to World Bank, a high and volatile inflation rate driven by food prices remains a concern in Bangladesh. Inflation reached 12 percent in September, the highest recorded since 1999, said he said.

The decision of the central bank to allow more commercial banks in the private sector may also create additional problems into the liquidity situation as well as shortage of qualified, experienced and efficient officials may worsen the situation further, he observed.

Source: The Daily Star/ Bangladesh/ 6th Dec 2011

Md. Nurun Newaz Salim, Chairman of NCC Bank, is seen at a meeting with managers of braches based in Dhaka recently.

The central executives of National Credit and Commerce (NCC) Bank Limited held a meeting with managers of braches based in Dhaka recently.

Md. Nurun Newaz Salim, Chairman of the bank attended the meeting at the head office as chief guest.

Mohammed Nurul Amin, Managing Director of the Bank, chaired the meeting attended by, among others, Additional Managing Director Golam Hafiz Ahmed, deputy managing directors A K Md. Siddique, Mohabbat Khan, T M Faruque Chowdhury and Akhtar Hamid Khan.

The meeting evaluated the Bank’s performance and urged all concerned to apply their best efforts so that the Bank can continue its growth and achieve better result.

Source: The Daily Sun/ Bangladesh/ 5th Dec 2011

Bangladesh Bank Governor Atiur Rahman on Sunday said projects under the Public-Private Partnership method can be a major source of large-scale investments needed for the country’s infrastructural development.

“It is well recognised that lack of physical infrastructure is a major constraint to economic growth in Bangladesh and other developing nations,” Atiur Rahman said while addressing a workshop held at a city hotel.

The workshop titled ‘Challenges and Prospect of PPP Project Development’, was organised by the World Bank-supported Infrastructure Project Financing Facility (IPFF) in collaboration with the Infrastructure Investment Facilitation Center (IIFC).

Principal Secretary to the Prime Minister Sheikh M Wahid-Uz Zaman attended the inaugural session of the workshop as the chief guest.

Source: The Daily Sun/ Bangladesh/ 5th Dec 2011

Hafiz Ahmed Mazumder, MP, chairman, board of directors of Pubali Bank is seen handing over a key of the bus to Professor Pran Gopal Datta, vice-chancellor of Bangabandhu Sheikh Mujib Madical University recently.

Pubali Bank Limited has donated a bus to Bangabandhu Sheikh Mujib Medical University (BSMMU) for providing transport facility for teachers, doctors, officers and staffs members recently.

The Bank has donated the bus as part of its Corporate Social Responsibility (CSR), said a press release.

Hafiz Ahmed Mazumder, MP, chairman, board of directors of Pubali Bank Limited handed over a key of the bus to Prof Pran Gopal Datta, vice-chancellor of Bangabandhu

Sheikh Mujib Madical University.

Ahmed Shafi Chowdhury and Fahim Ahmed Faruk Chowdhury, directors of Pubali Bank, managing director Helal Ahmed Chowdhury, treasurer of BSMMU Prof Md Moazzem Hossai were also present on the occasion.

Source: The Daily Sun/ Bangladesh/ 3rd Dec 2011