Performance Review Meeting for the Managers of Exim Bank in progress at the Exim Bank Head office Saturday for evaluating the total performance and financial situation of the Bank. Chairman of the Bank Md. Nazrul Islam Mazumder seen.

The Performance Review Meeting for the Managers of Exim Bank was held at the Exim Bank Head office Saturday for evaluating the total performance and financial situation of the Bank. Chairman of the Exim Bank Md. Nazrul Islam Mazumder was present at the meeting as chief guest while Managing Director Fariduddin Ahmed presided over the conference.

Additional Managing Director Dr. Mohammed Haider Ali Mia, Deputy Managing Directors Md. Abdul Latif Barabhuiya and M. Sirajul Islam and executives of the Head Office also attended the meeting.

Chief Guest Mr. Md. Nazrul Islam Mazumder urged the managers and executives to promote the Bank and work hard for the Bank.

Source: The Finance Express/ Bangladesh/ 21th Nov 2011

Eastern Bank Ltd. (EBL) has come up with a lending proposal for the small and medium leather product manufacturers to reduce the financial constraint of the sector. To this end, a bilateral loan agreement of Tk 10 million between EBL and Small and Medium Enterprise Foundation (SMEF) was signed at a city hotel on Sunday.

At the signing ceremony, EBL launched a loan project, EBL-Udoy, with a single digit rate of interest for leather goods manufacturing clusters in Dhaka. 

Syed Rezwanul Kabir, managing director of SMEF, and Ali Reza Iftekhar, managing director and chief executive officer of EBL, signed the loan agreement. Industries minister Dilip Barua attended the event as chief guest where governor of Bangladesh Bank Dr Atiur Rahman was also present as special guest. Under the loan agreement, SME Foundation disbursed Tk 10 million to EBL at 4 per cent interest rate.EBL, in association with USAID-Price and Aarong, will disburse Tk 10 million with 9 per cent rate of interest to nearly 23 small and medium leather goods manufacturers.

Terming access to finance as a major roadblock to the SME sector, Dilip Barua said many potential SMEs  cannot move ahead due to poor access to bank finance.“It is deplorable that the banking and financial sectors feel more comfort in disbursing loan to the industrial sector than the SME sector,” he said. Industrial economy is essential instead of trading economy for creating employment opportunity, economic growth and better livelihood, he said.

The flourishing of SME sector would help in inflating industrial productivity, foreign investment and employment opportunity as well as strengthening the economic activities, the minister said.“SME sector is a wheel of economic growth and working as a catalyst of poverty alleviation,” the central bank governor said.

Source: The Independent/ Bangladesh/ 21th Nov 2011

Prime Bank Limited held Annual Business Review Meeting recently at Regency Hotel in the city.

Chairman of the Bank Md. Shirajul Islam Mollah was present as chief guest, says a press release.

Executive Committee Chairman Mafiz Ahmed Bhuiyan, directors Quazi Sirazul Islam, M A Wahhab and Firoza Amin also attended the meeting presided over by Managing Director Md. Ehsan Khasru. Shirajul Islam Mollah asked the officials concerned to make the cluster management more effective as the bank implemented the cluster system successfully.

Mentors of different clusters presented business summares of their respective clusters and described both strengths and weaknesses of their venture.

Besides, the strategy and business target for 2011 were also discussed in the meeting.

Among others, SEVP and Head of Human Resources Division Quazi A.S.M. Anisul Kabir, deputy managing directors Ahmed Kamal Khan Chowdhury, Md. Golam Rabbani and Muhammad Yasin Ali were also present.

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

Abdus Salam Azad has been promoted to the post of General Manager (GM) of Janata Bank Limited recently.

Earlier, he was Deputy General Manager of Janata Bhaban Corporation Branch, Dhaka, says a press release.

Abdus Salam started his banking career by joining Janata Bank in 1983 as Senior Officer.He completed his masters degree with honors in English literature from Rajshahi University in 1983.

He participated at different professional training courses and seminars both in home and abroad.
New GM of the bank fought in the Liberation War of the country in 1971.

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

Basic Bank Limited has opened its 38th branch at Islampur in the capital on Sunday.

Former lawmaker and chairman of the Bank Sheikh Abdul Hye Bacchu launched the activities of the new branch while board of director of the Bank Md Anwarul Islam (FCMA), managing director Kazi Faqurul Islam, additional managing director Sk Monzur Morshed were present among others.

Sheikh Abdul Hye Bachchu said: “To ensure the best service for the clients, the Bank is running its activities completely through online. The Bank was established in 1989 with a view to develop industrialization in our country. The Bank is now successfully conducting its activities by fulfilling the demands of the clients.”

He further said: “The clients feel secured to deposit their money in our Bank as it is hundred percent state-owned. As a result, number of clients is increasing day by day. Activities of the distribution of debt in agriculture and SME sector are also satisfactory.”

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