Razzak tells while opening MTB branch in Tangail

Minister for Food and Disaster Management Dr Muhammad Abdur Razzak, MP said that banking services must reach the rural areas of the country, where the common people reside.

He was addressing as the chief guest while inaugurating a SME/Agri branch of Mutual Trust Bank Ltd (MTB) at Dhanbari, Tangail on Tuesday.

Governor of the Bangladesh Bank Dr Atiur Rahman addressed the function as the guest of honour.

Dr Atiur Rahman said that banks in the country should expand their branch networks in rural areas of the country to have a balanced development of the economy, and, in this regard, Bangladesh Bank will provide all kind of support.

Among others, MTB Group chairman Samson H Chowdhury, managing director and CEO Anis A Khan and other senior officials of the bank were present at the event. A large number of leading businesspersons, customers, local elite, journalists and dignitaries attended the function.

“MTB is keenly interested to serve the underserved and un-served segment of the society with the wide spectrum of its products and services to augment economic development of the country and opening of a branch at Dhanbari is a manifestation of this endeavor.” said Samson H Chowdhury.

Anis A Khan said: “As part of its financial inclusion program, MTB has already introduced several products for agriculture, SMEs, women entrepreneurs etc and extended credit facilities to a large number of borrowers in these sectors, and the programme will be broadened in the days to come.”

Food and Disaster Management Minister Dr Muhammad Abdur Razzak, MP, Governor of Bangladesh Bank Dr Atiur Rahman, seen at inauguration of a SME/Agri branch of Mutual Trust Bank Ltd at Dhanbari, Tangail Tuesday.

Source: Daily Sun

Bangladesh Bank (BB) Governor Dr Atiur Rahman yesterday said the Bangladesh Bank has taken steps to turn all its activities IT based, while it CID activities would go online within next month.

All banks would also start mobile banking systems in a broader way within next two to three months, he expected.

Dr Atiur Rahman was addressing as the chief guest a roundtable titled “Financial Inclusion and Impact of ICT” organised jointly by NeoSTAR Alliance and Bank Al-falah Ltd at the National Press Club VIP lounge.

Parliamentary standing committee chairman on Post and Telecommunication Ministry Hasanul Huq Inu addressed as special guest.

Dr Atiur Rahman said: “It is the time to reach at the doorsteps of poor rural people, and it is the IT solution only that can do it. I always support the partnership between mobile phone companies and banks as they can play a vital role in this acts.”

He called upon the banks to increase their corporate social responsibility (CSR) activities and provide loan to the poor farmers including women farmers.

Praising the effectiveness of the farmers account, that was opened just for Tk 10, he called upon the banks to provide one per cent more interest from the normal interest rate to encourage the farmers for savings. He also informed that the National Board of Revenue (NBR) has already exempted those accounts from tax coverage.

“We need to focus on marginal people who have no access to banking service. But we have nationwide mobile network coverage that we can utilise to spread the banking service at the doorsteps of the rural people,” he added.

Hasanul Haq Inu stressed on the need for removing social injustice in order to improve broader IT services in the country. According to International Labour Organisation (ILO) data, ICT implementation in various financial sectors might reduce 50 per cent operating cost, he mentioned.

“Technology has no alternative to achieve financial inclusion. But proper knowledge and capacity building is essential to reach the ultimate destination,” Inu said adding they would recommend the government to change necessary law for expansion of ICT activities in the country.

He sought recommendations from the related authority including banks and IT companies on what kinds of changes are needed with the law for the development of ICT uses.

Speakers of a roundtable yesterday said the country was moving forward towards development.

“It’s the time to implement mobile and IT solution system for better financial inclusion. Mobile banking is one the key component in this respect,” they said.

The goal of the event was to bring financial institution, technology companies and software solution developers at the same platform to critically analyse the profound impact of financial inclusion on emerging economy.

President of Association of Mobile Telecom Operators in Bangladesh (AMTOB) president Zakiul Islam presented the key note paper at the programme moderated by Habibullah N Karim, MD and CEO of Technohaven.

Zakiul Islam said the country in the past failed to introduce mobile service system in the financial sector for tough law but the present government has taken initiatives.

He said at present only 7 to 10 per cent of the people are getting banking services in the country, while 35 to 40 per cent people have access to mobile phone. So, banks can avail such a grate opportunity, he added.

Top officials from banks, mobile network operators, technology companies, and universities also took part at the discussion.

Source: Daily Sun

Bangladesh Bank yesterday asked commercial banks to set up CSR desks in their offices.

The desks will update the BB on the banks' corporate social responsibility activities.

“The banks are required to have a separate contact point to maintain proper communication with all concerned,” the central bank said.

Source: The Daily Star

The 7th Extra Ordinary General Meeting (EGM) of Social Islami Bank Limited was held yesterday at hotel Purbani Internatinal in the city, said a press release.

The shareholders present at the EGM approved the proposals for increasing authorised capital from Tk 4.00 billion to Tk 10.00 billion and issuing 1:1 right shares, said a press release.

Sultan Mahmood Chowdhury, chairman of the bank presided over the meeting. Managing director of the bank Md Ali, directors, shareholders and executives of the bank attended.

Source: Daily Sun

Enamul Haque has joined Sonali Bank Limited as deputy managing director (DMD) on Monday.

Prior to his promotion he was GM of Agrani Bank, said a press release.

Enamul Haque was born on January 1, 1952 in Munshiganj district. He passed SSC and HSC in 1968 and 1970 respectively.

He took part in liberation war in 1971. He completed his BSC And MSC from Dhaka University.

Md Enamul Haque joined Agrani Bank in 1977 as probationary officer. He was promoted to general manager in July, 2005.

Source: Daily Sun