Bank Asia Director Sohana Rouf Chowdhury inaugurates the 55th branch of the Bank on Tejgaon Link Road in Dhaka yesterday.

Former chairman M Syeduzzaman; Vice Chairman Mohammed Lakiotullah; Directors Rumee A Hossain, AM Nurul Islam, Shah Md Nurul Alam, Nafees Khundker and Managing Director Md Mehmood Husain were also present. Photo: Bank Asia

Source: The Daily Star/ Bangladesh/ 17th Nov 2011

Country's top bankers Wednesday said the banks have been continuing their investment in share market and have sincere intention to increase it, officials said.

The announcement came from the bankers' platform -- the Association of Bankers, Bangladesh (ABB) -- at a press briefing at the end of a scheduled meeting with the policy makers at the Securities and Exchange Commission (SEC).

"At the meeting, all top bankers have expressed their sincere desire to make investment in the stock market," K Mahmood Sattar, president of ABB and also the managing director of City Bank, told the reporters.
He said some 12 to 14 banks have been making fresh investment although the volume of investment is small due to liquidity crisis prevailing in the market.

"In some cases, the banks are investing in stocks taking funds from call money at an interest rate as high as 18 per cent. The banks also have stopped selling of shares," Mr Sattar said.

He said the bankers have laid emphasis on easing the liquidity crisis.

"We have discussed as to how our investment volume can be expanded. That's why we have requested the SEC to convince the higher authorities to pave the way for expansion of our investment," he added.
In this regard, the ABB representatives have suggested the SEC to convince the Bangladesh Bank to lower the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR).

They also wanted the BB to calculate the banks' exposure limit to stock market on the basis of "net-off" instead of the 'marking to market' basis.

At the meeting, the bankers put forward some suggestions, including the move to attract foreign portfolio investment, before the SEC policy makers in a bid to increase liquidity flow in the stock market.
"The bankers and the securities regulator have felt the necessity of attracting more foreign investment in the stock market," Sattar added.

In this regard the bankers proposed to the regulator to pursue the banks and brokerage firms, having relation with foreign investors, to attract them.

"We can move forward for this purpose if the SEC and the Bangladesh Bank assure us of an environment conducive to foreign investment in the country's stock market," ABB president added.
UNB adds: Chairman of the Securities and Exchange Commission Dr M Khairul Hossain

said the measures taken in the last six months to revitalise the sagging stock market were not seen even in the past 10 years. 

"Had those steps not been taken, nobody knew where the stock market would have plunged into," Khairul told reporters at the finance ministry.

He said market reform is a continuous process and there is nothing unusual in market fall as it is seen in stock markets across the world. 

Replying to a question on the meeting called by the Prime Minister on the share market, Khairul said, "You'll know it in the evening what steps are being taken to make the market vibrant."

In response to another query about downtrend in the last six months, he said the market also saw uptrend during the period. "The index had even crossed 6000 points." 

The SEC chairman said he had talked to the representatives of the investors and he would place their demands at the meeting with Prime Minister Sheikh Hasina. 

"No good person will be there in the SEC if they aren't appreciated," Khairul said.

Source: The Finance Express/ Bangladesh/ 17th Nov 2011

The plaque of Jamuna Bank Medical College and Hospital was unveiled at a function recently held at Rupshi of Rupganj upazilla in Narayanganj district.

Director of Jamuna Bank Ltd Golam Dastagir Gazi Bir Protik MP formally unveiled the plaque as chief guest, says a press release.

Chirman of Jamuna Bank Foundation Alhaj Nur Mohammed pres- ided over the function.

Directors of the Bank Abu Khair Mohammad, Kanutosh Majumder, Md Shakhawat, Ismail Hossain Siraji, Hasina Gazi, Gazi Golam Murtoza and Managing Diretcor Matiur Rahman, among local elites, were also present.

Source: The Daily Sun/ Bangladesh/ 16th Nov 2011

The Cox’s Bazar branch of Pubali Bank Ltd (PBL) has sanctioned Tk 2.6 million as loans to Small and Medium (SME) entrepreneurs during a recently held SME fair in the district.

Earlier, a three-day ‘Bank-NASCIB SME Saikat Utsab-2011’ was organised by National Association of Small and Cottage Industries of Bangladesh (NASCIB), among others, at Motel Parabal of the district town. Bangladesh Bank Governor, Dr Atiur Rahman, inaugurated the fair as the chief guest, said a press release.

At the festival, BB Governor handed over a loan sanction letter of Tk 600,000 to woman entrepreneur Rekha Nandi, proprietor of a book stall.

Hemayet Uddin Talukder, chairman of Bangladesh Parjatan Corporation, SM Moniruzzaman, executive director of Bangladesh Bank, Helal Ahmed Chowdhury, managing director of Pubali Bank Ltd ,Sukumol Singh Chowdhury, general manager of SME and special programme officer of Bangladesh Bank, Safiul Alam Khan Chowdhury, deputy managing director of PBL, Sheikh Mohammad Abdus Sobhan, president of NASCIB, and managing directors of different Banks, were present in the festival.

Source: The Daily Sun/ Bangladesh/ 16th Nov 2011

Kazi Akramuddin Ahmed, chairman of Standard Bank, presides over the bank's 27th extraordinary general meeting at Kakrail in Dhaka on Monday.

The Bank approved issuance of 50 percent convertible coupon bond worth Tk 200 crore in the meeting. SA Faruki, managing director, was also present. Photo: Standard Bank

Source: The Daily Star/ Bangladesh/ 16th Nov 2011