Finance Minister Abul Maal Abdul Muhith yesterday said the operations of the Grameen Bank would continue as the pioneering micro lending agency is a matter of “Bangladesh’s pride”.

“Grameen Bank is a matter of pride of Bangladesh and therefore its activities will go on in normal course,” a finance ministry statement quoted him as saying as US ambassador in Dhaka James F Moriarty called on him at his office.

It said the Grameen Bank issue appeared as a topic of discussion as they exchanged opinions on different financial issues including the US investment in Bangladesh.

The statement said the US ambassador said his country was particularly interested in investing in energy and power sector in this country when Muhith said Bangladesh always encouraged foreign investment in the country.

The minister and the envoy, it said, agreed that Dhaka-Washington ties were deep rooted as they expressed the hope that bilateral relations would strengthen further in future.

UNDP resident representative in Dhaka Neal Walker later called on the finance minister at his office, the statement said.

News: Daily Sun/ Bangladesh/ Jun-06-2011

Standard Chartered Bank recently has introduced a ‘Value Packs Bundle Offer’ to offer a bundle of compelling value propositions for the customers.

The bundle offer includes home loan, employee banking facility, easy banking value pack, personal loan and auto loan value pack, said a press release.

Sandeep Bose, head of Consumer Standard Chartered Bank Bangladesh, Nepal and Sri Lanka, along with other high officials of the bank, formally unveiled the new offer.

The value packs offer better value through combined product offering as compared to a single product offering, reduced documentation, simplified verification and credit processes, a single customer touch-point for all products, the statement said.

Each of the value packs present unparalleled way to provide customer value propositions like never before, the news release said.

News: Daily Sun/ Bangladesh/ Jun-06-2011

Mohammad Aminul Haque has recently been elected chairman of Prime Bank at the bank's 363rd meeting in Dhaka.

The Board of Directors of the bank also elected MA Khaleque and Mafiz Ahmed Bhuiyan as vice-chairmen. All of them were sponsor directors of the bank.

A mechanical engineer from Buet, Haque was the chairman of Prime Bank from June 2001 to May 2002. Khaleque is the founder and sponsor director of Prime Bank and Bhuiyan is the director of Prime Insurance Company.

News: The Daily Star/ bangladesh/ Jun-06-2011

Bangladesh Bank (BB) governor Dr. Atiur Rahman on Saturday said Banking Payment Systems Act would be formed soon. “BB has already drafted a Payment Systems Act which will be sent shortly to the Finance Ministry for enactment,” Dr. Atiur said.
He further said BB had taken initiative to streamline the ATM/PoS services of all commercial banks by introducing a common SWITCH for ATM/PoS within next year with a view to easing the services to the clients.
The central bank governor made the comments while speaking as chief guest at a public-private dialogue on “e-payment in Bangladesh: Opportunities and Challenges” at a city hotel on Saturday.
The dialogue was jointly organized by Dhaka Chamber of Commerce and Industry (DCCI) and BB with the support of Bangladesh Investment Climate Fund (BICF).
E-payment is very important to ensure the economic growth and development of a smart payment system as well as easy trade system, Dr. Atiur said.
“The e-payment system will reduce 1.10 per cent transaction’s cost of both clients and commercial banks than the general payment system,” he said.
If it is possible to introduce mobile banking system with e-payment, the rural economy will get more speed, he added.
BB has recently allowed 11 scheduled banks offering Mobile based Banking Services, he said adding BB decided to put a uniform guideline for this after getting some more proposal.
BB governor urged all to come forward with responsibility and professionalism to create a business-friendly environment, reduce cost of doing business and make vibrant economy.
DCCI President Asif Ibrahim in his welcome address stressed awareness building on e-payment facilities among the banks and financial institutions.
Electronic payment will facilitate economic growth as it will increase the efficiency of payment system, he added.
Executive Director of BB Dasgupta Asim Kumar said that Bangladesh bank recently launched Electronic Fund Transfer Network and its benefit would be immense and effective.
He called upon the business community to utilize this facility which would ease their payment system.
Programme Manager of International Finance Corporation (IFC) Dr Masrur Reaz said that e-payment system would ensure transparency and accountability.
After the inaugural session a public-private dialogue session was held where Deputy Director of BB Khandaker Ali Kamran Al Zahid, DCCI Senior Vice President T.I.M. Nurul Kabir and Associate Operations officer of IFC Azad Rahman and Dr. Kazi Saifuddin Munir of Q-Cash gave power point presentation at the second session.

News: The Independent/ bangladesh/ Jun-05-2011

The Board of Directors of Prime Bank Limited at its 363rd meeting held on May 30 unanimously elected Mohammad Aminul Haque as the chairman of the board of directors of Prime Bank Limited for the next term of two years effective from June 1, 2011 to May 31, 2013; while M A Khaleque and Mafiz Ahmed Bhuiyan were elected as vice-chairmen for the same period. All of them are the sponsor directors of the bank, says a press release.

Mohammad Aminul Haque is a successful business personality with innovative entrepreneurial capability. In the year 1964, he started his career with the then Industrial Development Bank of Pakistan (Now Bangladesh Development Bank). Subsequently he joined erstwhile East Pakistan Water and Power Development Authority as an Assistant Engineer.

He is the founder of Bangla Trac Ltd., a distinguished dealer of Caterpillar Inc- a world famous manufacturer of construction equipment, diesel and gas engines and generator. A widely known businessman, Mr. Haque is associated with a number of business organisations engaged in banking, insurance, finance, trade, service and manufacturing businesses. He was the chairman of Prime Bank Limited from June 1, 2001 to May 31, 2002. Moreover, he was the chairman of Executive Committee of the Board of Directors of Prime Bank Limited from June 1, 2007 to May 31, 2009. Before his appointment as the chairman of Prime Bank Ltd., he was the Chairman of Prime Finance and Investment Limited for the sixth time consecutively. He is equally involved in various activities pertaining to social welfare.

He is a Mechanical Engineer graduated from BUET in 1962.

M. A Khaleque is the founder and sponsor director of Prime Bank Limited. He was born on March 23, 1947 in a respectable Muslim family in Pirojpur District. Mr. Khaleque did his masters in Commerce from Dhaka University. Since the last 25 years he has set an enviable standard by numerous renowned institutions ranging from banks, non-bank financial institutions and life and general insurances in the country.. He is currently the Chairman of Fareast Finance & Investment Limited, Fareast Stocks and Bonds Ltd., Prime Property Holdings Ltd. and PFI Properties Ltd. Mr. Khaleque was also the Vice Chairman of the Bank during 2002-03.

Mafiz Ahmed Bhuiyan was born in a respectable Muslim family in Comilla on December30, 1960. He is an entrepreneur and has the distinction of making substantial contribution in the Backward Linkage Industry setup in the RMG sector in its early years. He also pioneered in setting up joint- venture projects in the country with the collaboration of the developed countries like Taiwan and Korea. Currently, he is Director of Prime Insurance Co Ltd and Australian International School. Besides, he is Life Member of numerous educational and social welfare organizations.

News: The Independent/ bangladesh/ Jun-05-2011