Sonali Bank organised a get-together meeting for its senior officials in Sylhet.

Kazi Baharul Islam, chairman of the bank, attended the meeting at the general manager’s office in Sylhet recently, said a press release.

General manager Md Nurul Islam Chowdhury, DGM, Md Obayedur Rahman, GM AKM Oahidul Haque (Shajal), manager Ranadhir Chandra Das, AGM Aiyub Ali, AGM Md Badruzzaman, AGM Binoy Krishna Shaha and Raushan Ara Begum were among others present on the occasion, said a press release.

News: Daily Sun/ Bangladesh/ Mar-29-2011

Mutual Trust Bank Limited (MTB) witnessed a profit growth by 21 percent during 2010, while the profit after tax showed a sustainable rise by 27 percent compared to 2009. The bank's balance-sheet footing increased by over 11 percent, at the end of 2010, compared to the previous year. The Capital Adequacy Ratio (CAR) increased to 11.49 percent, which is substantially higher than the required rate of 9 percent. This was revealed at the 13th extraordinary general meeting (EGM) and 12th annual general meeting (AGM) of MTB held at the Bangabandhu International Conference Centre in the city yesterday. MTB Chairman Samson H Chowdhury presided over both the meetings, said a press release. Vice Chairman Dr. Arif Dowla, founding chairman Syed Manzur Elahi, directors M A Rouf, Yasmeen Haque, Md Abdul Malek, Md Nasirullah, Md Wakiluddin and Mahaboob Morshed Hassan were present at the meetings. Managing director & CEO Anis A Khan, deputy managing director and company secretary Quamrul Islam Chowdhury, deputy managing directors Hashem Chowdhury and Md Ahsan-uz Zaman, senior MTB officials and a large number of the bank’s shareholders attended the meetings. The MTB chairman thanked the bank’s customers, patrons, well-wishers, shareholders, regulators, directors and staff for the impulsive support extended in 2010. The managing director & CEO replied to the queries raised by the shareholders. The 12th AGM approved 20 percent stock dividend for 2010. Last year, the bank launched a number of products which include MTB senior, MTB inspire, Personal loan, Auto loan, home loan and home equity loan. It opened 23 bank branches, one booth and eight MTB securities branches. The stock brokerage function was separated by floating MTB’s fully owned company named MTB Securities Ltd. (MTBSL). As a part of corporate social responsibility, the bank sponsored a number of socio-cultural programs to promote education, healthcare and other humanitarian activities.

News: Daily Sun/ Bangladesh/ Mar-29-2011

Md Wahiduzzaman Khandaker and Debasish Chakrabarty have recently been appointed general managers of Rupali Bank.

Prior to joining Rupali Bank, Khandaker was the deputy general manager of Investment Corporation of Bangladesh (ICB) and Chakrabarty was the deputy general manager of House Building Finance Corporation.

Khandaker started his career with ICB as senior officer in 1983. He is a postgraduate in finance from Dhaka University.

Chakrabarty is also a postgraduate in finance from Dhaka University. He joined House Building Finance as assistant general manager in 1995.

News: Daily Sun/ Bangladesh/ Mar-27-2011

The board of directors of Islami Bank Bangladesh Ltd recommended 35 percent stock dividend for the shareholders for the year 2010, subject to the approval of the 28th Annual General Meeting (AGM) of the bank.

This decision came at a meeting of the board of directors of the bank on Thirsday at the bhank’s head office in the city, said a press release.

The meeting also approved the profit and loss account for the same year and balance sheet as on December 31, 2010.

The AGM and Extra Ordinry General Meeting will be held on May 18 while the record date in connection for entitlement of dividend has been fixed on April 13.

Presided over by Prof. Abu Nasser Muhammad Abduz Zaher, chairman of board of directors of the bank, the meeting was also attended by its foreign and local directors including Yousif Abdullah Al-Rajhi, representative of Al-Rajhi Company for Industry and Trade, Dr. Abdulhameed Fouad Al-Khateeb, Mohamad Adnan Midani, representative of Islamic Development Bank, of Saudi Arabia and Mohammad Abdullah Al-Jalahma, representative of Kuwait Awqaf Public Foundation.

The meeting also fixed the annual profit rate of Mudaraba Perpetual Bond of the bank at 12.35 percent. The profit of the bond will be distributed within 30 days after the AGM.

News: Daily Sun/ Bangladesh/ Mar-26-2011

Bangladesh Bank governor Dr Atiur Rahman on Wednesday urged the top executives of banks and financial institutions (FIs) to come up with pragmatic steps to help the repatriated Bangladeshis through banking channel. He said steps would have to be taken collectively to rehabilitate the returnees from Libya and other middle-eastern countries at home or help them seek employment in other prospective countries to ensure uninterrupted remittance inflow.
The BB governor was speaking as chief guest at the inaugural session of the RPCF Dissemination Workshop at a city hotel in the morning to catalyze innovation of new remittance and transfer products, improve existing remittance infrastructure and the use of remittances.
Deputy Country Representative of UK’s DFID (Department for International Development), Diana Dalton, Bangladesh Bank executive director Dasgupta Asim Kumar and RPCF manager Anwar Uddin Chowdhury also spoke on the occasion.
Dr Atiur said the central bank has been taking a number of steps for countrywide safe and efficient payment systems to expedite faster delivery of remittances across the country.
He said the Bangladesh Bank is also working on simplifying the procedure of sending remittances both domestically and internationally.
The central bank chief said the steps are being taken through Remittance and Payments Challenge Fund (RPCF) of the Remittance and Payments Partnership (RPP) Project.
“Each inward remittance is a brick in the pillar of success of Bangladesh in fighting the global economic crisis. Bangladesh possesses a very large diaspora community and receives rather large remittance inflows.”
He said remittance transfers to Bangladesh have grown dramatically over the past two decades and have generated considerable excitement in recent years over their potential to aid growth and development of the country.
“We’ve set strategy for establishing a modern payment and settlement system infrastructure to deliver remittance to the remotest corner of rural Bangladesh - in the hands of the semi-illiterate beneficiary safely, securely and in a hassle-free manner.”
Dr Atiur also informed that they are working on mobile technology-based financial transactions for easy transactions. “We’ve already automated cheque processing systems and electronic funds transfer under the RPP project.”
He hoped that the output from RPCF’s efforts would certainly result in increased migrant-family income, higher savings, increased social security, household employment generation, and skills and technical knowledge development which will result in flourishing rural economy and local financial market in the rural areas with overall contribution to the increase of GDP.

News: The Independent/ Bangladesh/ Mar-24-2011