Bangladesh Bank (BB) has waived the penalty of Tk10 lakh earlier imposed on Farmers Bank for loan irregularities of over Tk38 crore.

The decision came at a board meeting held at the Bangladesh Bank headquarters in the city yesterday. The meeting was presided over by the central bank governor Atiur Rahman.

“We have waived the penalty as High Court asked the central bank to consider their application,” said SK Sur Chowdhury, deputy governor of Bangladesh Bank.

Moreover, the bank has fulfilled the instructions of Bangladesh Bank, he said.

The bank has recently sent a letter of apology to the central bank, stating that it has in line with the BB’s instruction corrected the loan amount of over Tk38crore disbursed to six institutions. 

Earlier, the bank marked the amount as investment, violating rules. As the bank complied with the instruction of Bangladesh Bank, the bank should be freed from the penalty, reads the letter.

The BB has decided to place the Farmers Bank’s appeal before its board meeting.

Earlier on January 11, the bank filed a writ with the High Court against the penalty imposed by the central bank, which drew a huge criticism from every corner. 

Economic Reporter :The 103rd Branch of Bank Asia started formal operation at Mirpur-1 in the capital Dhaka on Wednesday. A Rouf Chowdhury, Chairman of the Bank formally inaugurated the new branch. Vice Chairmen Mohd. Safwan Choudhury and AM Nurul Islam, Chairman of Board Executive Committee Rumee A Hossain, Directors M Shahjahan Bhuiyan and M Irfan Syed and Additional Managing Director Aminul Islam were, among others, present. Members of the business community, local elite and a large number of people also attended the auspicious event. The new branch has all the modern banking facilities including on-line banking and ATM. Starting its operation in 1999, Bank Asia is one of the most innovative banks in the country's banking sector. It offers a wide range of financial services that covers the entire spectrum of banking operations including Islamic Banking, SME financing, Agent Banking, e-banking, ATM, etc under its online platform to deliver the highest standard of services to its clientele, ably supported by the use of state-of-the-art technology.

Abrar A Anwar, CEO; Aditya Mandloi, Head of Retail Banking, Standard Chartered Bank, Bangladesh and Md Hayat Khan, Finance Controller, Ocean Paradise Hotel & Resort along with other senior officials of both organizations, inaugurating the new ATM at the h

Economic Reporter :Standard Chartered Bank, Bangladesh has expanded its footprint by opening its first ATM at Cox's Bazar. It is located at the premises of Ocean Paradise Hotel & Resort.  With the addition of this new ATM, the bank's customers travelling to Cox's Bazar will have easy access to their funds and also goes on to show its brand promise of 'Here for good'.  Abrar A Anwar, CEO, Standard Chartered Bank, Bangladesh; Aditya Mandloi, Head of Retail Banking, Standard Chartered Bank, Bangladesh; along with senior officials of Ocean Paradise Hotel & Resort were present during the inauguration program.Abrar A Anwar, CEO, Standard Chartered Bank, Bangladesh stated, "I am very thankful to the management of Ocean Paradise Hotel & Resort for giving us the opportunity to set up an ATM inside their premises. At Standard Chartered, we are constantly endeavoring to provide easy access to our client's fund with highest level of client satisfaction."

First Security Islami Bank Ltd. donated Tk.15 Lakh to Dhaka North City Corporation (DNCC) for its CCTV Surveillance Project.

Syed Waseque Md. Ali, Managing Director and Quazi Osman Ali, Additional Managing Director of First Security Islami Bank Ltd. handed over the cheque to the DNCC mayor Annisul Huq at the Mayor’s office in Gulshan, Dhaka.

Premier Bank’s Narayanganj Branch has shifted in the new address at Al-joinal Plaza, holding no-56, S.M Maleh Road, Tan bazar, Narayanganj recently for the betterment of the customers. 

Dr. H.B.M Iqbal Chairman of the Board of Directors of The Premier Bank Limited was present as Chief Guest in the program.

Among others, Bank’s MD & CEO Khondker Fazle Rashid, Addl MD M. Reazul Karim and Adviser of the Bank Md. Ehsan Khasru and Chief of the branch Executive Vice President Shahid Hasan Mallik were also present along with the local distingused guests.