Dhaka, Dec 15 (bdnews24.com) — The government has decided to offload more than three million shares of the state-run Rupali Bank Limited in the secondary market.

A news posting on the Dhaka Stock Exchange website noted that 30,68,750 shares of the bank would be brought to the secondary market for trading.

Earlier on November 24, the government declared to float in the market 24.55 percent or 28,57,380 shares of the bank.

In November the government decided to offload more shares of state-run companies already listed with bourses in the wake of overheating of the capital market.

Investment Corporation of Bangladesh (ICB) would work as the issue manager for Rupali.

Currently, only a limited number of shares of 12 SOEs are traded on the stock market, while the government maintains a strict policy of holding over 51 percent of the shares to continue its 'management authority' on the entities.

But the recent hype in the capital market forced the government to change its position while the parliamentary watchdog on finance ministry recommended for offloading more shares of the SOEs to increase share supply in the capital market.

Source: bdnews24.com/15th Dec 2010

Bangladesh Krishi Bank (BKB), a government bank specialised to finance agricultural sector of the country, has launched two new branches in Comilla and Munshigonj recently. Local MP Professor M Ali Ashraf inaugurated the bank's 963rd branch at Joyagh Bazar under Chandina upazila in Comilla. While the bank's 964th branch at Baraikhali Bazar under Sreenagar upazila in Munshigonj was inaugurated by local MP Sukumar Ranjan Ghosh on the same day.

According to the bank's website, 130 of the total branches of the bank are located in urban areas while the rest are in rural areas. The primary objective of BKB is to provide credit facilities to the farmers for the development of agriculture and entrepreneurs engaged in development of agro-based and cottage industries.

News Source: Daily Sun/17 Dec 2010

One of the recognized bank with huge online facility, Dutch-Bangla Bank Limited (DBBL) has opened its 91st Branch at Bijoynagar in the city on Tuesday. K S Tabrez, managing director of the bank formally inaugurated the branch equipped with On-line banking facilities from the opening day, said a press release. K S Tabrez, managing director of the bank in his address informed that DBBL provides a wide array of banking products and financial services to its retail and corporate customers.

With a variety of delivery channels like ATMs, Fast Tracks besides, branch networks at important places of the country,  DBBL is calling upon the local people and business community to avail the most up-to-date banking facilities by maintaining a bank account with DBBL, said the Managing Director. Among others, Md Mosaddiqur Rahman, deputy managing director of the bank was present on the occasion.

                                                                                                                                          News Source: Daily Sun/16 Dec 2010

BRAC Bank recenty came up with the medical facility for its employee and opened a medical centre at its head office annex building in Tejgaon. Syed Mahbubur Rahman, Managing Director and CEO of the bank inaugurated the center. Senior officials of the bank were present at the inaugural ceremony. Through this medical center, more than 7,850 employees of BRAC Bank will get preliminary medical services at the time of office hour.

News Source: Daily Sun/16 Dec 2010

The Hongkong and Shanghai Banking Corporation (HSBC) Limited launched a Shariah-compliant financial service 'HSBC Amanah' with full range of products in the country Wednesday. This is recognized as the first Shariah-compliant flagship branch of the bank which was launced at Gulshan in the city.

As banking as per Islamic rules and regulations is getting popular now a days, HSBC, with the goal of providing a range of Islamic financial services to its customers, introduced the product that was developed under supervision of independent, competent Shariah scholars, the high officials of the bank said at a press conference at a city hotel. Head of International, HSBC Asia Pacific, Guy Harvey-Samuel, Global Deputy CEO, HSBC Amanah, Razi Fakih, CEO of Bangladesh Sanjay Prakash and Head of Amanah, Personal banking, Laila F Rahim were present at the press conference.

   From left, Sanjay Prakash, CEO of HSBC, Bangladesh; Guy Harvey-Samuel, head of international, HSBC Asia Pacific, and Razi Fakih, global deputy CEO of HSBC Amanah.Inauguration Programme at Sonargaon Hotel in Dhaka yesterday. Photo: HSBC

The bank executives said, Amanah offers personal banking products including deposits, account services and financial solutions for vehicle, home and other purposes. For commercial customers, it offers world-class Shariah-compliant corporate accounts, deposit services, term financing and term investment services.
It also has comprehensive trade and supply chain services through HSBC Amanah export and import finance.

Guy Harvey-Samuel has highlighted the fact that HSBC is one of the most globally connected banks in the world and HSBC Amanah customers will enjoy the same "HSBC world-class" service and international connectivity from the service. Razi Fakih described in details of Shariah structure of the HSBC Amanah. He said a team combined by world's leading independent scholars is monitoring the service. The Amanah service is available in eight countries including Bangladesh, the UAE, Malaysia and the United Kingdom, Fakih said. An exhibition of Islamic calligraphy presented by renowned artist Murtaza Basheer is taking place in its Amanah branch, which will continue until December 31. The income of the sale will be donated to Ahsania Mission Cancer Hospital fund.

News Source: The Financial Express/16 Dec 2010