Islami Bank Bangladesh signed an agreement with TMA Distribution Limited for expanding mobile banking service Mcash.

Mohammad Abdul Mannan, Managing Director of the bank, the agreement was signed on April 16, 2013 at Board Room of Islami Bank Tower, said a press release.

Mohd. Shamsul Haque, Deputy Managing Director of Islami Bank and Kazi Rakib Ansari, Managing Director of TMA Distribution Limited inked the deal on behalf of their respective sides.

Md. Habibur Rahman, Engr. Md. Abul Bashar and AKM Abdul Malek Chowdhury, Deputy Managing Directors of Islami Bank and top executives and officials of the bank and TMA Distribution Limited were also present on the occasion.

Meanwhile another agreement was signed between Islami Bank and Hajj Agencies Association of Bangladesh (HAAB) with a view to facilitate HAAB members through IBBL ATM and Onlice Services. 

After revising the rights offer, the board of directors of BRAC Bank Limited has recommended 1:2 rights shares for the shareholders, meaning one rights share for every two shares in the holding.

The bank offered rights share at an issue price of Tk 20 each including a premium of Tk 10 per share.

Earlier on 20th May last year, the bank had offered 1: 2 rights share at an issue price of Tk 25 each including a premium of Tk 15 a share.

As per the revision, the bank has cut Tk 5 issue price for raising the paid up capital.

Raising paid-up capital is subjected to the approval of general meeting and the regulatory authorities.

The company will organise an AGM at Savar in Dhaka on 9th May, 2013 and the record date for AGM has been set on 7th April.

Another record date for entitlement of the proposed rights shares will be set later on after obtaining approval from the Bangladesh Securities and Exchange Commission (BSEC).

Bangladesh Bank has taken an initiative to supply metal coins of different denominations through eleven commercial banks in a bid to facilitate city people to conduct their daily transactions.

Besides, the central bank will supply metal coins worth Tk 1, Tk 2 and Tk 5 through all commercial banks across the country, said a press release.

Recently the central bank has taken a decision to supply the metal coins through Press Club and Bangabandhu Avenue branches of Sonali Bank,

Ramna and Elephant Road branches of Agrani Bank, New Market branch of Janata Bank, Sadarghat branch of Pubali Bank,

Bashundhara branch of Social Islami Bank, Gulshan branch of Dutch-Bangla Bank, Kawran Bazaar branch of Southeast Bank, Malibagh branch of Prime Bank and Jatrabari branch of National Bank Limited.

Md Tajul Islam, MP, speaks at the inauguration of Sonali Bank's treasury activity at Manohorganj, Comilla on Monday.

Sonali Bank Limited (SBL), Manohorganj branch, Comilla has started its activity as government treasury from Monday.
Md Tajul Islam, MP, inaugurated the bank's treasury activity as chief guest, said a press release.

Md Zahurul Islam, Deputy General Manager, Principal Office, Comilla presided over the function.

Hasan Iqbal, General Manager, Head Office attended the function as special guest. Md Tajul Islam, MP, expressed his satisfaction over the activity of the bank.

Though some stray incidents took place in recent past, still Sonali Bank has shown its success in customers' services, it was told at the function.

Bangladesh Bank (BB) is preparing a guideline for streamlining bank's financing to the IT (information technology) sector especially to the software development initiatives, a BB official said

The central bank already formed a committee as a step forward to prepare the guideline.

 
The committee titled "Committee for IT-based SME Financing" includes representatives from the Prime Minister's Office (PMO),

the Ministry of Information and Communication Technology, Bangladesh Association of Software and Information Services (BASIS) and BB.

The committee would be the base working group to prepare and finalise the guideline after consultation with all relevant groups, organisations and institutions, the official said.

"It would primarily assess the risks in IT business in Bangladesh and rate the IT firms on the basis of their efficiency and skills in business and risks management," the official said.

"IT firms especially those are in software development depend mainly on skilled manpower like software engineers.

If a firm for some reasons loses its skilled staff than it faces trouble in keeping the pace of business and eventually becomes risky for financing,"

General Manager of SME and Special Programmes Department of BB Sukumol SinghaChowdhury said.