Neaz Ahmed has been appointed Managing Director of National Bank Limited (NBL).

Prior to this new appo¬intment, he was the consultant of the same bank. Neaz Ahmed joins NBL with 31 years experience in banking in foreign and local banks, said a press release.

Neaz is the second son of late Borhan- uddin Ahmed, a former secretary to the then government of Pakistan and also the government of Bangladesh. He started his banking career in Grindlays Bank in January 1978 as a Management Trainee after completing BA (Hons) and MA in Economics from the Dhaka University.

He spent 19 years with Grindlays Bank and held many important positions including Manager, Business Banking in ANZ Bank in New Zealand for four years. He attended many trainings and seminars at home and abroad.

Neaz also served as EVP and Head of Marketing, IT and Logistic Division, SEVP and Head of International Division, Overseas Operation and Garments Division in IFIC Bank Ltd (from March 1997 -October, 2002), DMD in Premier Bank (from November 2002-September 2004) and Managing Director in Southeast Bank Ltd (from October 2004-March 2009).

Neaz Ahmed is an Associate of Chartered Institute of Bankers, UK (ACIB) and a DAIBB. He is also appointed as Honorary Consul of the Consulate of New Zealand in Bangladesh since 2007.

Neaz is a seeded tennis player of the country. He is married to Shaheda and they have two children, Sabin and Meraz.

Source: daily-sun, Bangladesh/8th Dec 2010

The 158th meeting of the Board of Directors of Jamuna Bank Ltd was held at its head office in the city recently.

Al-haj Md. Rezaul Karim Ansari, Chairman of the Board of Directors of the bank presided over the meeting, said a press release.

Md Tazul Islam, Chairman, Audit Committee, Al-Haj Nur Mohammed, Chairman, Jamuna Bank Foundation, other directors of the Board of Directors of the bank, Managing Director Md Motior Rahman and Deputy Managing Director Md Abul Shahjahan were also present at the meeting.

The Board reviewed the overall aspects of the bank and took some pragmatic steps for the expansion of the business of the bank and its improvement.

(Al-haj Md. Rezaul Karim Ansari, Chairman of Jamuna Bank Ltd, presiding over the 158th Board meeting of the bank in the city recently.)

Source: daily-sun, Bangladesh/8th Dec 2010

Three-day long training of trainers programme on “Improving Remittance Related Banking Services” concluded in the city yesterday.

The Bangladesh Institute of Bank Management (BIBM) and International Organization for Migration (IOM) jointly organised the programme with financial supports from the Department for International Development (DFID).

Chairman of the BIBM and Governor of the Bangladesh Bank Dr Atiur Rahman inaugurated the training programme, said a press release.

Total 33 officers from different banks participated at the programme. A training toolkit has been prepared by BIBM to be used by the bankers was highlighted at the programme.

Dr Toufic Ahmad Choudhury, Director General, BIBM delivered the welcome address. Rabab Fatima, Regional Representative for South Asia of IOM, Khursed Alam Chowdhury, Director General of BMETspoke.

Mohammad Mohiuddin Siddique, Associate Professor and Director (CPGS) of BIBM and Mahmudul Ameen Masud, AGM of Agrani Bank Ltd jointly coordinated the programme.

Source: daily-sun, Bangladesh/8th Dec 2010

The Awami League government is unlikely to extend the tax exemption facility to Grameen Bank, which is under scrutiny following its alleged diversion of overseas fund. The facility expires by the end of this month, sources in the Banking Division of the Finance Ministry told daily sun on Monday.

Finance Minister AMA Muhith asked the Finance Division secretary Sunday afternoon to place the Grameen Bank application seeking extension of the tax waiver facility. The government move came following reports that have revealed diversion of fund by Grameen Bank managing director and Nobel laureate Dr Muhammad Yunus from the bank to another institution.

Prime Minister Sheikh Hasina also came down heavily on Dr Yunus on Sunday for what she termed exploitation of the poor loan recipients. She also ordered a probe into the fund diversion. “The finance minister asked the Banking Division secretary to submit the file of Grameen Bank. The government is now unlikely to extend the corporate tax waiver the bank has been enjoying for the last 27 years,” said a high official of the division.

The facility was last extended by the previous army-backed interim government for two and a half years. The bank has been enjoying the facility under the provision-33 of the Grameen Bank Ordinance, 1983. The minister is expected to sit with the officials concerned any time today (Tuesday) to discuss the matter.

Four months ago, the Grameen Bank forwarded a fresh application to the Finance Ministry seeking extension of the tax waiver facility. Then the finance minister sent the proposal to the National Board of Revenue, sources said.

Following the telecast of a documentary on a Norwegian television revealing that Dr Yunus diverted the fund from Grameen Bank to Grameen Kalyan, Muhith said on Saturday that he did not see anything wrong with the settlement taking place more than a decade ago.

Earlier, the Awami League government rejected a Grameen Bank proposal to cut the government’s stake in the bank from 25 percent to 15 per cent despite endorsement by the caretaker government.

Usually, a company not listed with any of the stock exchanges has to pay 55 per cent corporate tax on its annual profit.

The Grameen Bank posted a net profit of Tk 371.5 million in 2009, down from over Tk 1.30 billion of the previous year, according to the bank data. The total number of its borrowers stood at 8.33 million as of October last. Of them, 97 percent were women. With 2,565 branches, GB provides services at 81,373 villages, more than 97 percent of the total villages in Bangladesh.

In 2009, Grameen opened 23 new branches bringing 99 percent of rural Bangladesh under its coverage.

According to a recent report, about 7.0 million people have so far received microcredit from Grameen Bank. Of them, 97 percent are women.

Source: daily-sun, Bangladesh/7th Dec 2010

(M Mahfuzur Rahman, Executive Director of Bangladesh Bank inaugurating a workshop held at NCCB’s Training Institute in the city recently. NCC BANK PHOTO)

NCC Bank Ltd organised a workshop on Anti Money Laundering for the executives and officers of the bank from different branches.

M Mahfuzur Rahman, Executive Director of Bangladesh Bank inaugurated the workshop held at the Bank's Training Institute, said a press release. In his inaugural speech, Mahfuzur Rahman highlighted on the importance of 'AML for Bamlco' for banking activities.

Mohammed Nurul Arnin, Managing Director and CEO of NCC Bank attended the workshop as special guest. Additional Managing Director of the bank Golam Hafiz Ahmed and Senior Executive Vice president T M Faruque Chowdhury were also present on the occassion. Principal of the NCC Bank Training Institute Jagadish Chandra Debnath co-ordinated the workshop.

Source: daily-sun, Bangladesh/7th Dec 2010