Eastern Bank Ltd and South Asia Enterprise Development Facility (SAEDF) signed a Memo-randum of Understanding (MoU) yesterday to promote renewable energy in Bangladesh.

Ian Crosby, head of SouthAsia Enterprise Development Facility, chaired the signing ceremony held at a city hotel.

IFC, a member of the World Bank Group, is working with Eastern Bank Limited to encourage financing energy efficiency and renewable energy projects in Bangladesh to strengthen the bank’s green portfolio.

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

Julian Fong, Chief Financial Officer (CFO) of Standard Chartered Bank (SCB) for Asia and Global Head Country Finance in a two-day official visit arrived here yesterday.

Julian served as an Executive Director of Standard Chartered Bank in Hongkong. , He is accompanied by Anurag Adlakha, Chief Financial Officer of the bank for India and South Asia, said a press release.

Julian has thirty years of banking experience, having been with Standard Chartered Bank in Hongkong and Singapore for the last 19 years and previously he worked in various capacities with Royal Bank of Canada.

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

(Managing Director of DBBL KS Tabrez, distributing certificates among the participants at a function in the city on Sunday. DBBL PHOTO)

Dutch-Bangla Bank Ltd (DBBL) organised an eight-day long training course on “Intern-ational Trade and Foreign Exchange” that ended on Sunday.

The course is offered to the officials of trade and foreign exchange departments, said a press release.

Managing Director of DBBL KS Tabrez distributed certificates among the participants. Among others, Executive Vice Pres-ident of Training Wing of the bank AHM Zahurul Islam was also present.

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

Dhaka Bank yesterday issued a subordinated bond, for the first time, worth Tk 200 crore for expansion and to consolidate its capital base.

The bonds will be amortised and have a tenure of seven years. State-owned and private commercial banks, insurance companies, non-bank financial institutions, corporate offices and development banks have subscribed to the bond through private placement.

Standard Chartered's Dhaka office was the mandated lead arranger of the funds.

The bank will invest the funds in major ongoing projects like expansion of its branch network, establishment of overseas exchange houses and 100 new ATMs all over the country. Depending on availability, the fund will also be used in expanding retail operations and capital market operations.

Julian Fong, chief financial officer for Asia and global head for country finance of Standard Chartered Bank, is in Dhaka for a two-day official visit, says a statement.

Julian is also an executive director of the bank's Hong Kong operations. Anurag Adlakha, chief financial officer for India and South Asia, accompanies him.

In his banking career of nearly 30 years, Fong has been serving StanChart in Hong Kong and Singapore for the last 19 years.

Previously he worked in various finance roles with the Royal Bank of Canada in Toronto and Montreal.

Julian's current responsibilities include providing leadership, strategic direction and governance for the country finance function globally; and directing the capital, financial management and financial control function.

An MBA in finance and accounting from McGill University in Canada, he is also a certified member of the Society of Management Accountants Ontario, Canada and a fellow of the Institute of Canadian Bankers.

Anurag Adlakha is responsible for the regional finance function. His key responsibilities cover business performance analysis, financial reporting and control, balance sheet management, financial compliance and taxation.

Adlakha has 24 years of experience, which includes 19 years in the financial services industry.

Source: The Daily Star, Bangladesh/6th Dec 2010