Social Islami Bank Ltd (SIBL) has launched five new deposit schemes for women and old age people recently.
The schemes are: Subranalata, Subarnare- kha, Sobuj Chaya, Sobuj Sayanha and Sonchita.
The deposits holders will avail attractive interest rates as well as insurance services, free of cost credit and debit cards and discount opportunities from the bank.
Rokeya Afzal Rahman, former advisor to a caretaker government, and Kaniz Almas, renowned beautician, formerly inaugurated the schemes by handing over deposit products to the consumers at a function in Dhaka.
With SIBL Managing Director M Ali in the chair, the inaugural function was attended, among others, by M Rezaul Haque, chairman of board audit committee of the bank.

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

Credit exposure to small- and medium-enterprises (SMEs) has created about five-lakh fresh jobs in the country, during January 2010 to March 2011.
However, the number of female entrepreneurs and employment for women are much less than men. According to central bank statistics, SME credit disbursement was 137.79 per cent higher than the target of Tk. 38,858 crore, till December 31, 2011. "We've disbursed Tk. 53,543 crore to 73,979 enterprises, till December 31, 2010.
In the first quarter of 2011, around 25,000 applications were granted loans by different banks," Sukamal Sinha Choudhury, general manager of Bangladesh Bank (BB), told The Independent.
Some 8,095 new job opportunities were created by fresh loan disbursements to 1,467 entrepreneurs, in agro industries in Rangpur division's four districts, during the last one year, said Choudhury.
Average employment by each medium industry, engaged in manufacturing, is more than 20, while average rate of employment by a small enterprise does not exceed 5, he pointed out.
He said that a major portion of the total SME loan, goes to small entrepreneurs. Of the total entrepreneurs, only 3,547 are women, while the number of men stands at 70,435, according to Bangladesh Bank data.
President of Bangladesh Women Chamber of Commerce and Industry (BWCCI), Selima Ahmed, said that women entrepreneurs face discrimination from different banks, when it comes to credit disbursement.
"Women entrepreneurs from different regions often complain that they were being harassed by bank officials. It is a major reason for despair," she said. The banks should change attitude towards women entrepreneurs seeking loans, she added.
A women entrepreneur could have loans of up to Tk. 5 lakh, without any mortgage, as per standing orders by the central bank, but many banks do not abide by this directive, she said.
"The process and timing of loan confirmation also need to be convenient for women. Otherwise, the government's goal – to create women entrepreneurship – will not be achieved," she said, adding, "It is closely linked to women's empowerment."
"Credit disbursement and recovery report is very satisfactory, as per BB statistics, and the SME sector is doing well," said Aftab-Ul-Islam, chairman of SME Foundation.
However, he added, the periodic report by the central bank does not conform the complaint of lower women entrepreneurship.
Aftab said that the SME Foundation has been working with different banks, with cooperation from the central bank, to make SME loan disbursements easier.
The SME Foundation is also trying to promote SMEs in rural areas, by campaigns and organising SME fairs in different districts and divisional headquarters, he said.

News: the independent/Bangladesh/ Apr-01-2011

Bangladesh entered into the ear of mobile-banking yesterday when Dutch-Bangla Bank Ltd (DBBL) introduced the service for the first time in the country with the support of mobile phone operators Banglalink and Citycell.

The aim of the service is to bring more people under the umbrella of banking service. Bangladesh Bank governor Dr Atiur Rahman inaugurated the service through deposit and withdrawal of money from two banking outlets in Nayapaltan and Puranapaltan areas in the city.

Mobile banking is a banking process that offers financial services like cash deposit, cash withdrawal, merchant payment, utility payment, salary disbursement, remittance inflow and outflow and government allowance disbursement through mobile gadgets.

Initially the government has given its approval to 10 banks to operate mobile-banking. DBBL is the first bank to grasp the opportunity. Under the service, any mobile handset with subscription to any of the two partner cellular companies would be able to avail the service.

On a Meet the Press programme organised at a hotel in Dhaka after the kick start of the service, the central bank governor termed occasion as a milestone for the country’s banking sector. He said it would be a creative, cost-effective and secured banking service.

“We have initiated a five-year strategy for banking sector development. Financial inclusion is one of the top of the agenda behind the move as mobile-banking is a part of financial inclusion”, Atiur said.

He said present banking system is mostly urban-based, so introduction of the service will help bring rural people into banking service net as they have easy access to mobile.

He also informed that the country’s economy is now on a strong footing and poised to achieve more than 7 per cent growth in GDP in next fiscal year.

Chief Executive Officer of Banglalink Ahmed Abou Doma said partnership is the most significant step in banking and financial sectors. “This project is such a major step that Banglalink is proud to be its partner.”

Citycell Chief Operating Officer David Lee said this is a great step in transforming traditional banking into modern banking. “I’m sure it will benefit the people of Bangladesh.”

Syem Ahmed, executive chairman of DBBL, said they believed in partnership and hoped that the project in collaboration with Banglalink and CityCell be able to draw attention of people.

Bangladesh Bank Executive Director Dasgupta Asim Kumar, DBBL Managing Director KS Tabrez, DBBL Deputy Managing Director Abul Kashem and BTRC Commissioner Monirul Alam also addressed the function.

News: Daily Sun/Bangladesh/ Apr-01-2011

Officials of NCC Bank Securities and Financial Services Ltd attended at the three day long Bangladesh Capitat Market Fair held in London recently.
A total of 23 Bangladeshi merchant bankers and stock brokers attended the fair organised by Curry Life events, said a press release.
Bangladesh High Commissioner to the UK Dr Saidur Rahman visited the stall of NCC Bank Securities.
Among others, managing director of NCC Bank Mohammed Nurul Amin and executive vice president Pujush Kanti Saha were present on the occasion.

News: Daily Sun/Bangladesh/ Apr-01-2011

AB Bank entered into an agency agreement with MoneyGram, one of the leading money transfer companies from USA having branches all over the world.
Under the deal, effective from March 30, will foster inflow of foreign remittance from the Bangladeshi expatriates and migrant workers from all parts of the world, said a press release.
With this agreement, the foreign currency inflow will be increased day by day in the country to help boost economic condition further.

News: Daily Sun/Bangladesh/ Apr-01-2011