Dutch-Bangla Bank Ltd (DBBL) organised a day-long workshop on ‘reporting of foreign exchange transaction’ for the designated officers of the bank yesterday.

K S Tabrez, managing director of the bank, inaugurated the workshop at bank’s training centre at Dilkusha in the city, said a press release.

Officers and executives from different branches and head office participated in the workshop.

Resource persons from Bangladesh Bank were also invited to conduct various sessions in the workshop.

At the workshop, K S Tabrez stressed on the need for establishing a structured framework of ‘Reporting of Foreign Exchange Transaction’ in-line with regulatory guidelines on Core Risk Management in banking.

He also mentioned that the participants would be able to gather knowledge for making a correct and update reporting system related to foreign exchange transactions.

Md Abdus Satter Miah, general manager, Md Amin Ullah, joint director and Md Jafrul Haque, deputy director of Statistics Department of Bangladesh Bank, A K M Shah Alam, executive vice president and head of international division, A H M Zahurul Islam, executive vice president of Training Wing and Iqbal Amin, senior vice president and head of Human Resources Division of DBBL also spoke at the workshop.

Source: daily-sun, Bangladesh/9th Jan 2011

The IPO lottery of Mercantile Bank Ltd First Mutual Fund (MBL 1st Mutual Fund) will be held today (Sunday) at 11-00 am at city's Emmanuelle's Banquet Hall (Gulshan-1).

According to LR Global, the issue manager of the IPO, the mutual fund was over-subscribed by about 113 per cent.

Source: The Financial Express, Bangladesh/9th Jan 2011

In a country like Bangladesh a personal vehicle is very necessary. Though insufficient traffic system and lack of enough road cause enormous traffic jam in the city of Dhaka more often and now a days in Chittagong, the capital of business. Even in this condition a vehicle of your own can become very handy and can save you a lot of time and hessel on the road. As a result people are getting interested to buy their own vehicle for transportation now a days. It's not even difficult anymore.

Most of the banks in Bangladesh have come up with multiple schemed car loan facility. Amongst those DBBL, AB Bank, Mutual Trust Bank, HSBC, One Bank etc are very promising. Starting from Tk. 200000/- one can get a loan of Tk. 2000000/- with different interest scheme. To pay back the loan different bank has their own range of time. As there are so many banks providing various facilities to pay the loan back, competition is getting higher. This opportunity is considered as a huge opportunity to make a dream come true. 

In addition, HSBC has come up with a different auto loan. The loan is know as Motorbike Loan. No bank has introduced such loan yet. Motorbike Loan could be very famous due to current traffic condition in Dhaka. Not only this but also the loan comes up with a very low interest rate. Anyone who gets a salary of Tk. 15000/- per month will be eligible for the loan. This loan starts from Tk. 50000/- and extends upto Tk. 1000000/- which has different payment range. One can pay back the loan in 12 to 36 months. 

Vehicle description along with approximate amount of money could be a good starter for proposal. For detail you can visit BankInfoBD.com Auto Loan section.  

The country’s remittances dropped at US$ 4.6 billion or 1.67 percent during the first five months of the current fiscal compared with US$ 4.66 billion at the same period a year ago.

The total liquid assets of the scheduled banks stood lower at Tk 821.65 billion as of end November, 2010, against Tk 871.97 billion as of end June, 2010.

Excess liquidity of the scheduled banks also recorded lower at Tk 247.57 billion as of end November, 2010, against

The gross foreign exchange reserves of the Bangladesh Bank declined to US$10.7 billion as of end November last year, against $11.6 billion (with ACU liability of US$ 599.80 million) by end October, 2010, according to BB report.

The gross foreign exchange reserves during November 2010 is equivalent to import payments of 4.73 months. The country spent US$ 2.2 billion per month based on the previous 12 months average.

The gross foreign exchange balances held abroad by commercial banks stood lower at US$ 542.48 million by end November, 2010 against US$583.21 million by end October, 2010.

This was also lower than the balance of US$564.57 million by end November, 2009.

Tk 344.99 billion as of end June, 2010.

As on end November 2010, liquid assets of state owned banks was Tk 267.62 billion, private commercial banks Tk 372.25 billion, private Islamic banks Tk 88.32 billion, foreign banks Tk 84.15 billion, specialised banks Tk 6.30 billion.

The excess liquid assets of state owned banks as on end November 2010 totaled Tk 94.62 billion, private commercial banks Tk 85.19 billion, private Islamic banks Tk 28.85 billion, foreign banks Tk 37.63 billion, specialised banks Tk 1.27 billion.

As on end June 2010, liquid assets of state owned bank was Tk 310.89 billion, private commercial banks Tk 358.56 billion, private Islamic banks Tk 96.34 billion, foreign banks Tk 92.48 billion, specialised banks Tk 13.70 billion.

The excess liquid assets of state owned banks as on end June 2010 totaled Tk 152.68 billion, private commercial banks Tk 98.20 billion, private Islamic banks Tk 42.86 billion,foreign banks Tk 45.16 billion, specialised banks Tk 6.07 billion.

Reserve money recorded an increase of Tk 18.59 billion or 2.31 percent during July-September, 2010 compared to the increase of Tk 52.11 billion or 7.51 percent during July-September, 2009.

The increase of reserve money growth was mainly due to rise in the net foreign assets of Bangladesh Bank by Tk 30.09 billion or 4.92 percent during the period under report.

However, the net domestic assets of Bangladesh Bank decreased by Tk 11.50 billion or 5.96 percent during July-September, 2010.

The reserve money multiplier increased to 4.60 at the end of September, 2010 from 4.51 of June, 2010.

Source: Daily Sun/ Bangladesh/ Jan-07-2011

Rupali Bank, an state owned commercial bank has sold 50,450 shares out of 3,068,750 as of January 4 this year.

The government on November 24 last year decided to offload further 24.55 per cent or 2,857,380 shares of Rupali Bank Ltd held by it through Investment Corporation of Bangladesh (ICB).

Later on December 15, the bank authority declared that they would offload 3,068,750 shares instead of earlier declared 2,857,380 shares.

Investors complained that the process of offloading Rupali Bank shares is going at snail’s pace as the issue manager is delaying the process.

On October 30 last year, Finance Minister AMA Muhith announced that eight state-owned enterprises (SoEs), already listed in the capital market, will offload more shares in the market within next 15-20 days.

Among the eight SoEs only Rupali Bank has offloaded shares within the stipulated time line.

Source: Daily Sun/ Bangladesh/ Jan-07-2011