Bangladesh Development Bank Limited (BDBL) handed over Tk 50 million to the government as dividend from its profit earned during 2010.

BDBL chairman Nazem Ahmed Chowdhury handed over a cheque of Tk 50 million to Finance Minister AMA Muhith at a function at the latter’s secretariat yesterday.

The bank earned a net profit of Tk 644.5 million and disbursed Tk 902.3 million loan during in the year 2010.

During last year, the bank recovered loan amounting Tk 1.705 billion including Tk 1.41 billion long-term loan against the recovery target of Tk 1.63 billion.

The bank also provided Tk 577.7 million to the government, the Bangladesh Bank and different lending institutions last year.

The Finance Minister at the function said that BDBL will be turned into an investment banker as the government will provide it some funds this year. The bank demanded for a fund of Tk 3.00 billion.

The government would allow the bank enter the capital market, said the minister.

The BDBL started is journey through a merger between Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha during January last year. The authorised capital of the bank was Tk 10 billion, while its paid-up capital was Tk 4 billion.

Banking and Financial Institution Division Secretary Shafiqur Rahman Patwari, BDBL managing director M Zillur Rahman, directors and other high officials of the Finance Ministry were present.

News: Daily Sun/ Bangladesh/ Aug-10-2011

Pubali Bank Limited (PBL) introduced Islamic banking services at its principal, stadium branches in Sylhet branch on the basis of Islamic Shariah.

The 5th meeting of Pubali Bank’s Shariah Supervisory Committee held at the bank’s board room yesterday reviewed the overall position of the Islamic Banking. M Azizul Huq, chairman of the committee presided over the meeting, said a press release.

Ahmed Shafi Choudhury, director of the committee, Helal Ahmed Chowdhury, managing director, Prof M Muzahidul Islam, Islamic economist, Prof M Mansurur Rahman, Mowlana Abdullah Bin Sayeed Jalalabadi and Abdul Gofran, head of Islamic banking wing of the bank were also present at the meeting.

News: Daily Sun/ Bangladesh/ Aug-10-2011

Bangladesh Bank has taken initiative to amend some sections of Islamic bond rules in a bid to make it more attractive.

BB officials, chaired by executive director SK Sur Chowdhury, yesterday sat with the CEOs of the Islamic banks at the BB headquarters to obtain opinions from them, said BB sources. The chief executives, however, said they will put their opinion to the Central Bank following a discussion at the Central Shariah Board.

An official who attended the meeting said Islamic bond rules need to update to make it more attractive. If the rule is amended no money in the Islamic banks will lie idle and they themselves will be the best beneficiaries of the amendment.

BB will send a letter seeking opinion on the amendment this week. And they will get one month to send opinions which will be sent to the Ministry of Finance later for taking final decision with respect to the issue, he also informed.

 News: Daily Sun/ Bangladesh/ Aug-02-2011

Bank Asia has recently awarded scholarships to 20 graduate nursing students of Bangabandhu Sheikh Mujib Medical University (BSMMU) as a part of its corporate social responsibility.

Under the scholarship programme, each of the students will get Tk 2200 per month from the bank, said a press release.

Zakia Rouf Chowdhury, wife of the bank’s Chairman A. Rouf Chowdhury, handed over the scholarships to the students at a function at the BSMMU seminar room on Sunday in the city.

BSMMU Pro-Vice Chancellor (academic) Prof Ruhul Amin Miah, BSMMU Pro-Vice Chancellor (administration) Prof Mohd. Shahidullah, Irteza Reza Chowdhury, deputy managing director of Bank Asia, Prof Shahana Akhter Rahman, dean of graduate nursing department of the university, among others, were present on the occasion.

The bank has also decided to allocate a fund for lunch of the support-staffs working at the nurse hostel, the news release said.

News: Daily Sun/ Bangladesh/ Aug-02-2011

National Bank Ltd. (NBL) held its half-yearly Managers’ Conference-2011 at Ruposi Bangla Hotel in the city recently.

Zainul Haque Sikder, director and chairman of the board of directors of NBL, presided over the meeting, said a press release.

While presiding over the meeting, Zainul Haque stressed on further improving the human assets through training program to help the employees to enrich their professionalism.

During the meeting, Neaz Ahmed, managing director and CEO of the bank, provided some guidelines to the bank’s managers for the development of the bank.

News: Daily Sun/ Bangladesh/ Aug-02-2011