Mutual Trust Bank Ltd (MTB) recently distributed clothes amongst orphans in the city.

MTB deputy managing director Md Hashem Chowdhury distributed clothes amongst the underprivileged orphans of an orphanage situated at city's Motijheel area.

Among others, MTB Group's chief financial officer Meer Sajed-Ul-Bashar, chief communications officer Md Tauhidul Alam and junior assistant vice president Md Ariful Haq were present at the event.

MTB has been distributing clothes to underprivileged people across Bangladesh since a long. During last winter, MTB distributed warm clothes to cold hit poor people in various parts of the country.

News: Daily Sun/  Bangladesh/Mar-08-2011

Internet Banking is growing popular day by day in Bangladesh. A number of private as well as local banks are going online now considering the demand and necessity of fast banking. Internet banking not only provides banking facility round the clock but also helps a country to get attached to the international economy as well as business. People throughout the world are now getting engaged with more activity and business and hence need the fast and anytime access to his/her bank account. Internet banking also facilitates buying and selling various products which varies country to country.

In Bangladesh many banks have launched Internet Banking. Amongst those HSBC, City Bank, BRAC Bank, Bank Asia, Jamuna Bank, Janata Bank, Southeast Bank, AB Bank, First Security Bank, Mercantile Bank, Premier Bank etc are in action already. Some are known as online banking, some are Internet Banking, providing various facilities. Like City Bank has the facility of account check and statement print including query about cheque book information. Bank Asia has almost same facilities but with addition they have internal fund transfer facility along with bill payment and mobile phone recharge which are, in fact quite handy.

Mercantile bank has a schedule for internet banking. It is Sunday to Thursday, 9am-3pm. They have the facility of money transaction, deposit and withdrawal though they charge a particular amount for each transaction according to their policy, it is a relief if you don’t have to go to bank for depositing and drawing money, isn’t it?

HSBC and BRAC Bank are clearly not satisfied with the transaction thing only in internet banking. They thought of something more and desiring and customized the service to its best for their clients and getting better day by day. HSBC has a whole lot of features in their online banking that includes 24/7 account access, loan account information, net- worth information, transaction amongst accounts, bill pay, personal information update, demand draft,  ATM info or PIN replacement request, chequebook order and lot more.

BRAC bank is one step ahead because for the first time they have introduced online shopping in Bangladesh. With exclusive features and facility BRAC bank also provides general online facility like the other banks. BRAC bank’s online shopping facilitates merchants to buy any product as they need online, they can customize the offers as well. Those who may have BRAC Bank VISA card or any VISA card can be a part of this online shopping service.

As the world economy is growing faster and banking sector is making mark each and every day, online banking is very important and effective to be a part of it. Bangladesh just started its journey in internet banking and banks are coming forward to make it a success. Online banking is clearly a huge benefit for the customers and saves a lot of time and things get done so easily. A developing country like Bangladesh can make the best out of Internet Banking and banks are completely into it.

The World Bank is supporting Bangladesh to improve planning and management of the rapid urbanization process in Bangladesh as urban population in the country has doubled since 1990. The Municipal Services Project supported by the World Bank continues to provide support to pourashavas and city corporations to improve urban infrastructure and delivery of municipal services coupled with capacity building of these local government bodies.
Started in 1999, the Municipal Services Project has financed basic infrastructure, such as water supply, roads and street lighting in about 130 municipalities, and repaired and rehabilitated flood-damaged infrastructure in more than 195 towns following the devastating floods of 1998, 2004 and 2007.
More than half of urban local governments in Bangladesh have received assistance from the project via Local Government Engineering Department (LGED) and the Bangladesh Municipal Development Fund (BMDF), said a release.
With the full disbursement of the original credit of $138.4 million, the World Bank has provided an additional financing of $42 million to fund similar urban sub-projects through the Bangladesh Municipal Development Fund and for preparatory studies for a follow on project.
The World Bank Board approved the $ 42 million additional funding for Municipal Services Project in June last year aimed at financing urban infrastructure improvements to around 170 towns and improve the municipal financial and management capacity.
A World Bank team and the government recently reviewed the project implementation and noted satisfactory progress in the subproject preparation.
The BMDF has already started a series of procurement activities for works in numerous municipalities.
The BMDF appointed a Managing Director following signing of the additional financing agreement.
The LGED will start implementing the technical assistance components under Additional Financing.
The technical assistance will include provisions for studies and other activities that will lead on to the preparation of the next generation of urban development activities and financing, as rapid urbanization continues in Bangladesh. 

News: The Independent/ Bangladesh/ Mar-07-2011

Speakers at a day-long workshop here emphasized the need for expediting credit flow towards small and medium enterprise (SME) sector for accelerating the national economy. They said SME-friendly banking is very vital as there is no alternative to uplift the SME sector to create more entrepreneurs for more income generation.
Trust Bank Limited organized the workshop titled “SME Investment:  Analysis of Product Marketing and Credit Risk” at BGB Party Point on Saturday.
SME Division Chief of the bank Raoshan Zadeed addressed the workshop as the chief guest while Vice- President and Cluster Manager Tanvir Hossain and Vice-President and local branch manager Mahbub Hossain were, among others, present as special guests. The speakers mentioned that the growth of national income and generation of more employment scopes could be possible through substantial promotion of the SME sector.

News: The Independent/ Bangladesh/ Mar-07-2011

HSBC, known as world's local bank, has recently introduced their very popular HSBC Amanah banking in Bangladesh. HSBC Amanah is the global Islamic financial services division of the HSBC Group. Amongst the many international Islamic financial services team, HSBC Amanah represents the largest in Middle East, Asia-Pacific, Europe and the Americas. It was established in 1998 with more than 300 professional to serve the purpose. Their main concern are the customers and their needs.

HSBC Amanah offers commercial banking products along with deposits and investment products, account services, corporate financing solutions, trade services, guarantee solutions and cash management services etc. Not only these, HSBC Amanah also provides Corporate Internet Banking- an international secured service based on the award winning HSBC net platform, in Bangladesh.

Amongst so many popular services HSBC Amanah in Bangladesh has introduced Amanah Inport Finance, Short-Term Financing, Documentary credit etc.

Amanah Import Finance

For business purpose HSBC's trade specialists and financial consultants offer expertise and practical support to the business owners as HSBC is well reputed for expertise in global trade finance. Amanah Import Finance is based on the Shariah principles of Goods Murabaha, catering to import finance through Documentary Credit and Shipping Guarantees.

Main Features:

Ø Competitive pricing with the market

Ø Simple documentation and quick turn-around time

Ø In the goods Murabaha transactions, a client him/herself will be appointed as their agent to purchase the goods and negotiate the price and other specification with the supplier of goods.

Documentary Credit

Amanah Documentary Credit helps developing the overseas business relationship. A number of key factors need to be considered while developing business relationships with overseas suppliers and there comes the Documentary Credit. A documentary credit issued by HSBC Amanah provides assurance and security to both the buyer and the supplier by helping to mitigate the inherent risks of international trade.

Main Features:

HSBC Amanah documentary Credit is based on the Shariah principles of Murabahah or Wakalah. It has multiple features like following:

Ø Financial Strength

Ø Global Network

Ø Seamless and timely

Ø Expert Assistance

Ø Vendor Support

Short-Term Financing

This financing facility is known as Amanah Goods Murabaha which is a Shariah-compliant product that provides shot-term financing for a customer's working capital requirements and purchase of assets. This particular financing system involves the Bank purchasing goods/assets at a customer's request and selling the same to the same customer at a sale price on a deferred payment basis. It is a Shariah requirement that the breakup of cost and profit in the sale price be disclosed.

Product Features:

Ø It helps a customer to purchase with a wide variety like Raw Material, Spare Parts, machinery/equipment, finished goods etc.

Ø A customer may enjoy competitive pricing with the market

Ø 1-12 month tenor

Ø Simple documentation and quick turn-around time

Ø Various payment schemes

Product Structure:

How does it work? A customer of the bank will be appointed as their agent to purchase the goods and negotiate the price and other specifications with the supplier. Each time a customer needs prior approval of the bank to get engaged with a supplier. Based on the value of the purchase, bank will prepare an offer letter for the customer, which will be signed and sent by the customer to the bank advising to purchase the goods from the bank at a Murabaha price (cost plus profit).

The bank will sell the purchased goods/assets to the customer by accepting the offer and making the payment to the supplier. Customer will pay the bank on the agreed date.

HSBC Amanah has surely opened a new window to the business owners as well as regular clients in Bangladesh which will surely be a great opportunity for them to enhance the economic strength of the country with an Islamic way and view.