Chairman of Rajshahi Krishi Unnayan Bank (RAKUB) Prof M Shah Nawaz Ali today said RAKUB will disburse Taka 573 crore agri-loans in Rangpur division this fiscal. “The bank will play vital role by putting maximum efforts to explore enormous economic potentials of the region as a whole including Rangpur division for enhancing development to assist people achieving economic self-reliance,” he said.
RAKUB chairman said this while presiding over the 364th meeting of the Board of Directors of the bank and attending a views exchange meeting at the conference room of Rangpur Circuit House in the city.
RAKUB Directors Abdul Mannan, Khandaker Jahangir Kabir Rana, Prof Rustam Ali Ahmed, Dr Kalidas Debnath, Managing Director of RAKUB Pradip Kumar Dutta, General Manger (GM, Rajshahi division) Nazmul Haque, GM (Rangpur division) SM Shamsul Haque and Secretary of the Board Aminul Islam Khandaker were present at the meetings.
The board meeting finalised loan allocations for all eight districts in Rangpur division for the current fiscal, waived some interests and took decisions for smooth and successful functioning of the bank in the division.
Later, RAKUB executives attended a views exchange meeting with the chamber leaders, businesspersons, entrepreneurs, politicians, farmers’ representatives, economists, educationists, professionals and the elite of the city at the same venue in the afternoon.

News: The Independent/ Bangladesh/20-july-2011

M Wahidul Haque has been re-elected as chairman of AB Bank, the bank said in a statement.

Also, the bank re-elected Salim Ahmed as its vice-chairman at a board meeting on July 12, according to the statement.

Haque joined the AB Bank board in 2007. He also served Bangladesh Tea Association as its chairman.

Ahmed, an industrialist, has been associated with paint, refinery, chemical and petrochemical industries for a long time.

Ahmed is also the chairman of Elite Paints Group of Companies and is also the president of Bangladesh Paint Manufacturers Association.

News: The Daily Star/ Bangladesh/20-july-2011

The Central Bank advanced one step forward towards its automation process as the Governor Dr Atiur Rahman formally launched the online Credit Information Bureau (CIB) reports on Tuesday.

The system will reduce the whole report processing time to only few clicks of computers from around seven valuable working days, along with ensuring transparency and keeping loan defaulters away from getting fresh loans through any loopholes, BB officials hoped.

Banks and financial institutions will now be able to access the CIB database online to get the credit report of the concerned borrower. The database will consist of detailed information of individual borrowers, owners and guarantors.

CIB report, the dynamic and hassle-free system, is considered a pivotal component of risk management measures.

Online CIB will minimise the extent of default loan by facilitating the banks and financial institutions with credit reports of the loan applicants very quickly, and therefore, lending institutions would not encounter any credit risk while extending lending or rescheduling facility, the BB Governor said. “The CIB online service will play a pivotal role in creating a disciplined environment for borrowing. Risk management will be more effective as it’s an improved and efficient system,” Atiur said.

He also hoped that the system will assist the election commission in finding out the loan status of the candidates competing in national and local elections, apart from increasing banks’ expertise.

Currently, the number of borrowers in the country is more than 9.2 million and the BB daily receives around 6,000 applications for CIB reports.

Though only five days were stipulated for every procession, BB officials sweltered to do the job even in 20-25 days for shortage of manpower and manual handling.

But the introduction of the online system will reduce their work pressure and they will be able to utilise their skills elsewhere as the time consumption to get the job done will come down to only five minutes.

News: Daily Sun/ Bangladesh/20-july-2011

Eastern Bank Limited (EBL) recently organised a farmers’ gathering at Mohishasi Bazar of Dhamrai upazila to create awareness about “EBL Krishi Rin,” expected to be launched by the bank soon.

Around 150 farmers were present at the gathering, who exchanged views on different problems and prospect of cultivation. They also highlighted the problem of access to finance, said a press release.

EBL assured them and promised to support for availing the EBL Krishi Rin and distributed 150 account opening forms to the farmers to accelerate the loan processing.

News: Daily Sun/ Bangladesh/20-july-2011

Standard Chartered Bank has recently launched an ATM booth at Banglalink head office in the city’s Gulshan area to provide corporate and consumer banking services to the employees of mobile phone operator.

Banglalink chief financial officer Mohamed Osman, human resources and administration director Tarek Beram, Standard Chartered Bank’s managing director for origination and client coverage Abrar Anwar, acting head of consumer banking and general manager for distribution and personal banking Sabbir Ahmed, general manager for deposit management products and employee banking Md Mahiul Islam, head of marketing and consumer banking Aftab Mahmud Khurshid, among others, were present at the inaugural function.

News: Daily Sun/ Bangladesh/20-july-2011