Al-Arafah Islami Bank Ltd arranged a daylong branch managers’ conference for Dhaka region at its head office in the city recently.

Jb. Ekramul Hoque, managing director of the bank, presided over the conference, said a press release.

Managers from 37 branches of the bank participated in the conference.

The conference discussed various issues regarding the overall performance of the bank, the news release said.

Bank’s Deputy Managing Directors Jb. Ihsanul Aziz and Jb. Md Rafiqul Islam, Senior Executive Vice President Jb. Khondoker Nayeemul Kabir, Company Secretary Jb. Md Mofazzal Hossain and other officials of the bank were present among others on that occasion.

News: Daily Sun/Bangladesh/11 Feb 201

MM Haikal Hashmi has joined Trust Bank as deputy managing director, the bank said in a statement yesterday.

Prior to the appoin-tment, he was the senior executive vice president and head of credit risk management of Dhaka Bank. Hashmi also served Credit Agricole Indosuez, ANZ Grindlays Bank, Standard Chartered Bank, American Express Bank and Mashreq Bank in Dubai in his career of 26 years.

He is a postgraduate of management from Dhaka University and a master in banking and finance from University Bocconi, Milan, Italy.

The certified credit analyst has also worked with AB Bank and IFIC Bank.

News: Daily Sun/Bangladesh/10 Feb 2011.

Eastern Bank Ltd recently signed an agreement with Germany-based bank Commerzbank AG, to work together in online foreign exchange trading. The deal will add significant value to EBL and its customers to importers, exporters, corporate, SMEs and consumer customers having foreign exchange transactions, said a press release. M. Fakhrul Alam, deputy managing director, Sidhartha Roy, acting head of Treasury, Md Obaidul Islam, head of ID of EBL and Martin Hercules, chief representative, Patrick Thiel, relationship manager and Gabriele Kenter, vice president for electronic Foreign Exchange Trading of Commerzbank, signed the agreement on behalf of their respective sides at the head office of EBL in the city.

Ali Reza Iftekhar, managing director and CEO of EBL was also present at the signing ceremony. He said EBL has ventured into massive induction of technology in operation and expressed the hope the agreement for online trading with Commerz Bank will take the both parties one step ahead. Click and Trade Foreign Exchange Electornic Trading System is an advanced online trading platform with enhanced, accurate, fast and tight pricing demand. It will also ensure online access to international market and real time competitive FX rates as an efficient alternative channel having 150 currency pairs and covering all major currencies for Forex transactions, the statement added.

News: Daily Sun/Bangladesh/9 Feb 2011.

The board of directors of Mutual Trust Bank recently approved a 20 per cent stock dividend for the year ended on December 31 last year.

The board also decided to amend some clauses of articles of association of the bank in connection with categorisation of share, rotation of directors and notice period for board meeting subject to approval of Bangladesh Bank and shareholders in the extraordinary general meeting (EGM). The bank has also reported net profit after tax of Tk. 988.36 million with earning per share (EPS) of Tk. 46.63. The net asset value per share of the bank for the year stood at Tk 206.59, while the net operating cash flow per share at Tk 16.84. The record date for the dividend is Feb 24 and the bank will hold its annual general meeting at the Bangabandhu International Conference Centre on March 28 this year.

News: Daily Sun/Bangladesh/10 Feb 2011.

Mutual Trust Bank Ltd (MTB) recently launched “MTB Ruby” – a deposit product exclusively tailor-made for women.

MTB director Yasmeen Haque formally launched the product at a ceremony at MTB Centre, Gulshan in the capital, said a press release.

Yasmeen Haque handed over the account documents to Nazia Andaleeb Preema, the first customer.

MTB’s founding chairman Syed Manzur Elahi, vice chairman Dr Arif Dowla, directors MA Malek, Rashed A Chowdhury, Md Hedayetullah Ron, Md Wakiluddin, Md Nasirullah, MTB managing director and CEO Anis A Khan, deputy managing director Md Ahsan-uz Zaman, head of business (retail) Gazi Yar Mohammed and senior officials were present at the function.

“MTB is keenly interested to bring custom-made products for all segments and cater to the changing needs of the market, and launching of MTB Ruby – a deposit product for women - is the manifestation of this endeavor,” Yasmeen Haque said.

MTB Ruby is an exclusive savings account for women, which offers attractive interest rate, free debit card, free internet banking and premium interest rate for Non Resident Bangladeshis.

News: Daily Sun/Bangladesh/10 Feb 2011.