Bangladesh Bank (BB) has directed commercial banks to provide loans for installing solar panels in residential, commercial and industrial buildings.

The BB sent a circular to the banks yesterday, asking them to come up with a scheme under which borrowers will get such loans at a 10 percent interest rate. The central bank said the banks can fix as high as 10 years as deadline for repayment.

Source: The Daily Star

Home loans for members of the central bank staff have been raised by 92 percent in view of an increase in the prices of land and construction materials.

Bangladesh Bank (BB) approved the proposal yesterday.

Such loans for officials on the highest salary scale has been raised by 87 percent to Tk 60 lakh. The present ceiling is Tk 32 lakh.

For the lowest tier, the ceiling has been increased by 92 percent to Tk 25 lakh. The present ceiling for the staff of this level is Tk 13 lakh.

The Home loans are given to the central bank staff in five categories.

Source: The Daily Star

Southeast Bank Foundation recently arranged scholarship programmes for 281 deprived and meritorious students who passed SSC Exam of 2010.

Dr Atiur Rahman, Governor of the Bangladesh Bank formally inaugurated the programme as the chief guest, said a press release.

Alamgir Kabir, FCA, chairman of the bank was present as the special guest at the programme. Among others, the directors of the bank, executives, other officials and guests also attended the programme.

The central bank governor highly appreciated the initiatives of the Southeast Bank Foundation. The chairman of the bank told that this scholarship programme is renewable and the number of scholarship holders would be around 2000 within 2015.

Source: Daily Sun

Bangladesh Bank Governor Atiur Rahman Tuesday said the country's economy is on the right track and progressing the way it was expected.

“The economy has broadened and become inclusive this year. The agricultural sector has seen wide growth through landmark changes in it. The credit surely goes to the banks,” he added.

He was speaking as the chief guest at a function of Bank Asia titled “Promise to Build Technology-driven Country: Setting up School-based Computer Learning Centres in Rural Areas” at Hotel Purbani in Dhaka.

Recognising the banking sector's contribution in strengthening economy, Rahman said the banks and financial institutions have done well except wrongdoings by a few banks. “The central bank has taken firm stand against the wrongdoers.”

Bank Asia Chairman A Rouf Chowdhury, President And Managing Director Erfan Uddin Ahmed, D.Net Executive Director Ananyo Raihan and schoolteachers from different regions also spoke.

The central bank chief said technology has simplified banking operations with the introduction of different services including ATM banking, online banking, e-banking, mobile banking and net-banking. But risks have also increased in such operations at the same time, he added.

“Banks and financial institutions will have to remain alert to face the risk of hacking and cyber crimes.”

He said the banking sector's contribution in corporate social responsibility may cross 100 percent this year that increased about 35 percent in 2009, compared to 2008.

The bank has set up 25 such centres since 2006 including 12 in this year that provide computer training to 3,000 students, said the Bank Asia boss.

Later, the central bank governor handed computers and accessories to the headmasters of 12 schools.

Source: The Daily Star

Social Islami Bank Ltd (SIBL) has opened its 64th branch in Narayanganj yesterday.

Sultan Mahmood Cho- wdhury, Chairman of the bank formally inaugurated the branch, said a press release.

Muhammad Ali, managing director of SIBL presided over the inaugural function which was also attended by Bank's Vice Chairman Nargis Mannan, Chairman of Board audit committee Rezaul Haque, Additional Managing Director Abu Sadek Sohel, Directors Shah Alam and Kamaluddin Ahmed, several others senior executives, clients and local elites.

Source: Daily Sun