The 13th Extra-Ordinary General Meeting (EGM) of Trust Bank Limited was held recently at Trust Milonayaton in the city.

The meeting was arranged to comply with the directives of Securities and Exchange Commission (SEC) for changing the denomination of shares of the Bank from existing Tk. 100.00 to Tk. 10.00 as well as determining the market lot of the shares from existing 50 to 500.

The shareholders approved the change of the denomination of the shares and the market lot of the shares through amendment relevant clause/ articles of the Memorandum of Association and Articles of Association of the Bank. 

General Md Abdul Mubeen, ndc, psc, Chief of Army Staff, Bangladesh Army & Chairman of Trust Bank Limited presided over the meeting.

Source: The Finance/ Bangladesh/ 22th Nov 2011

Muhammad Ali

Social Islami Bank Limited (SIBL) Monday completed 16 years of operation vowing to make it more technology-driven and mass-oriented.

"We are extremely happy to share the joyous moment of 16th anniversary and we have already taken some vigorous steps to turn the Bank into a modern financial entity aiming to consolidate its contribution to the development of the national economy," Managing Director of the Bank Muhammad Ali told the FE in an interview Monday.

The SIBL MD said that adoption of various IT-enabled services helped the bank reach from an alley to a highway with a theme slogan--continuous excellence.

"The adoption of modern IT-enabled services made us a real-time online bank and we are optimistic to go further to strengthen SIBL's contribution to the development of rural economy," Mr Ali said.
The bank earned a operating profit Tk 2.167 billion registering a whopping growth of 84.95 per cent till October 31, 2011. The capital adequacy ratio stood at 12.83.

The SIBL's capital, total deposit and net investment witnessed tremendous growth of 111.08 per cent, 62.37 per cent, 55.68 per cent respectively.
"The bank is also trying to focus on green banking considering the effect of climate change. Now we only approve projects having the environment-friendly provisions," the SIBL MD said.
"As part of green banking we are trying to operate a branch using solar energy and also making aware the customers avoiding paper-based banking, Mr Ali also said. 

The focused areas of SIBL are SME, agro-finance, remittance and alternative delivery channel.
A second generation bank, SIBL has now 74 branches with two subsidiary companies- SIBL Securities Ltd and SIBL Investment Ltd.
The SIBL Monday launched a new product on school banking titled 'Young Star Account' and on the first day four students opened accounts.
The bank earlier launched products titled Sonali Din, Shomridhir Shopan, Shachondo Protidin, Swapner Shiri, Shukher Thikana, Sabuj Chhaya, Shabuj Shayanho, Subarnalata, Subarnarekha, Shanchita and Zameel ATM Debit Card.

In testimony to the bank's growing progress, CRISL rated it A+ in long term and ST-2 in short term.
Standard Banking career in Sonali Bank in 1977, Mr Ali worked in different positions in National Bank Ltd, NCC Bank, Standard Bank Ltd and Social Islami Bank Ltd ahead of joining SIBL.
Meanwhile, to mark the 16th anniversary, the bank would honour eight eminent persons for making outstanding contributions in the field of respective areas. The SIBL award recipients are Prof Nurul Islam, Barrister Rafiqul Huq, Prof Abdullah Abu Sayeed, M Azizul Huq, Shaikh Siraj, Mahbubuz Zaman, Nilima Akhter Chowdhury and Haripad Kapali.

Source: The Finance/ Bangladesh/ 22th Nov 2011

Shahjalal Islami Bank Ltd and Money Exchange SA, Spain signed a remittance arrangement recently, says a press release.

Bangladeshi expatriates living in Spain can now send money safely and quickly to the beneficiaries by electronic fund transfer through all of the branches of Shahjalal Islami Bank  in Bangladesh. 

Md Abdur Rahman Sarker, managing director of Shahjalal Islami Bank and Jesus Abio Vilarig, general director of Money Exchange SA, Spain has signed the agreement.

Source: The Independent/ Bangladesh/ 22th Nov 2011

Ekramul Haque, managing director of Al-Arafah Islami Bank, inaugurates the Bank's shifted Bogra branch in Borogola on Sunday.

Source: The Daily Star/ Bangladesh/ 22th Nov 2011

Southeast Bank Limited converted its denomination of Tk 100 per share into Tk 10 according to the order of Securities and Exchange Commission (SEC) on 15 September, 2011. Chairman of the Bank Alamgir Kabir FCA disclosed it to the stakeholders at the 6th Extra-ordinary General Meeting in the city on Sunday, says a press release.

Trading of all shares of different companies with changed denomination of Tk.10 per share will start from 4th of next month as per the order.

Vice Chairman Ragib Ali, directors M.A. Kashem, Azim Uddin Ahmed, Duluma Ahmed, Syed Shahid Ali, Rehana Rahman, Md. Akikur Rahman, Sirat Monira, Abdul Hye, A.H.M. Moazzem Hossain, bank’s Adviser Zakir Ahmed Khan and Managing Director Mahbubul Alam, among others, attended the meeting Bank’s Sponsors and a large number of Shareholders of the Bank attended the meeting.

Managing Director highlighted the successes the Bank achieved so far and portrayed its outlook for the future.

He thanked the shareholders for their continued support and co-operation to the growth and improvement of the Bank over the years.

Source: The Daily Sun/ Bangladesh/ 21th Nov 2011