Banking

Star Industrial holds meeting with Prime Bank

Posted by BankInfo on Mon, May 11 2015 11:50 am

Ahmed Kamal Khan Chowdhury, Managing Director and CEO of Prime Bank Ltd, Dr Khater Massaad, Chairman of Star Industrial Holding of Lebanon, and other high officials pose for photograph after holding a meeting at a city hotel recently .

A business meeting between Ahmed Kamal Khan Chowdhury, Managing Director and CEO of Prime Bank, and Dr Khater Massaad, Chairman of Star Industrial Holding Ltd, Lebanon, was held at a city hotel recently. Md Touhidul Alam Khan, Deputy Managing Director and Chief Business Officer of Prime Bank, Md Moalllimul Islam, CEO, and Ajay Kumar, Finance Controller of Star Ceramics Limited, Bangladesh, were also present in the meeting.

News:Daily Sun/11-May-2015

EXIM Bank shifts Imamgonj branch

Posted by BankInfo on Mon, May 11 2015 11:40 am

Dr. Mohammed Haider Ali Miah, Managing Director of Export Import Bank of Bangladesh Limited, inaugurates the shifted Imamgonj branch of the bank, at Nurani Centerat Imamgonj, Chawakbazar in Dhaka on Saturday.

Export Import Bank of Bangladesh Limited has shifted its Imamgonj branch to a new location at Nurani Center at Imamgonj in Dhaka with a view to provide better services to the customers. Managing Director of the Bank Dr. Mohammed Haider Ali Miah inaugurated the shifted Imamgonj branch on Saturday, said a press release. Deputy Managing Director of the bank M Sirajul Islam presided over the programme. 

News:Daily Sun/11-May-2014

BB initiatives ensure stable growth: Atiur

Posted by BankInfo on Fri, May 08 2015 11:10 am

Bangladesh Bank Governor Dr. Atiur Rahman speaks at a discussion, jointly organised by Swiss Federal Office for the Environment, UNEP and Swiss Sustainable Finance, in Bern on Wednesday. 

Bangladesh Bank Governor Dr. Atiur Rahman said that the central bank has taken many innovative initiatives for addressing the longer term needs of inclusiveness and environmental sustainability towards stable economic growth and development pursuits of the country. The BB has been providing regulatory and policy support to align the entire financial sector towards supporting inclusive and environmentally sustainable growth; and that this approach has served the economy well in upholding domestic demand-led growth momentum amid post global financial crisis that slowed down export growth, he said. Dr. Atiur was addressing two sessions in Bern, jointly organised by Swiss Federal Office for the Environment, UNEP and Swiss Sustainable Finance on Wednesday. He said that the inclusion banking by channeling fund for under-served and excluded micro and small scale productive initiatives and green projects by adopting energy efficient and environmentally suitable output processes are adding incremental output in the real economy in Bangladesh. Mandated by its charter to support output and employment growth besides maintaining monetary and financial stability, BB stepped into imparting a deliberate directional bias in financing flows away from speculative and sustainability, BB chief informed. BB as a result is pursuing a host of concerted initiatives drawn up consultatively with financial intermediaries and targeted client bases, Dr. Rahman further added. The BB-guided partnership between banks and micro-finance institutions has been providing necessary input in strengthening inclusive and green financing flows to the underserved segments of the society in addition to bolstering financial stability agenda, he said. 

News:Daily Sun/8-May-2015

HSBC bank logs higher profits amid probes

Posted by BankInfo on Thu, May 07 2015 10:42 am

Scandal-hit global bank HSBC on Tuesday posted rising quarterly profits, but added regulators have requested more information about its controversial Swiss division.

Earnings after tax climbed to $5.26 billion (4.75 billion euros) in the three months to the end of March, compared with $5.21 billion a year earlier, the Asia-focused bank reported in a results statement.

Pretax profits advanced 4.4 percent to $7.1 billion in the same period. That sent HSBC's share price racing higher in morning trading because it easily beat market expectations of $5.8 billion.

"Our business recovered well in the first quarter following a difficult fourth quarter," said chief executive Stuart Gulliver in the statement.

"Global Banking & Markets had its usual strong start to the year, with a notable increase in year-on-year revenue in our markets businesses."

However, striking a negative tone, the bank also disclosed a new twist in the so-called SwissLeaks scandal.

"In the UK, the Financial Conduct Authority (FCA) issued a request for information to HSBC Bank plc and HSBC Holdings plc in relation to HSBC Swiss Private Bank," the bank announced in earnings release.

 

The FCA had previously said in February that it was "working closely with the firm". A request for information by the watchdog however falls short of launching a formal investigation.

During the quarter, HSBC was forced to apologise for "unacceptable" failings at its Swiss division.

News:The Daily Star/7-May-2015

 

Bank raid suggests law enforcers involved

Posted by BankInfo on Wed, May 06 2015 03:40 pm

David Bergman and Muktadir Rashid

An early morning raid by Rapid Action Battalion on 8 March 2015 on the Gulshan headquarters of the First Security Islami Bank further suggests that law enforcement authorities were involved in picking up opposition leader Salah Uddin Ahmed two days later, New Age can reveal.
Investigation by the paper has found that the bank provides a crucial link between a sequence of raids and arrests by RAB that finally resulted in the BNP politician being picked up, just over 48 hours later on 10 March, from a flat in Uttara where one of the bank’s deputy managing directors lived.
RAB raided the First Security Islami Bank’s headquarters on Sunday, 8 March due to Salah Uddin’s ownership of the building. The battalion had received information, which turned out to be inaccurate, that the BNP politician was hiding in a sixth floor boardroom of the bank.
However, on the same morning as the search in the bank, RAB also raided a flat on road 136 which was owned by a board director of the same bank – a man who was also the brother of the financial institution’s chairman.
The flat was raided as the battalion had also received information that Salah Uddin was living there – correct, but out of date as a few days earlier the BNP politician had moved to the Uttara flat of one of the bank’s deputy managing directors.
During the raid on the bank director’s flat, RAB detained his 70-year-old cook, subsequently alleging that he had ‘harboured’ the BNP leader. The cook remains in jail having been denied bail on at least two occasions.
The raids on both the bank and its director’s flat are likely to have resulted from information obtained after picking up three of Salah Uddin’s
employees from their homes, which also took place that very same morning, about which New Age has previously reported.
Two of the men were Salah Uddin’s drivers, who knew the politician and his wife’s movements, and the third man was his personal assistant one of whose responsibilities was maintenance of the First Security Islami Bank’s headquarters. The three are currently in jail.
BNP insiders believe that RAB were finally able to locate Salah Uddin in Uttara after forcing the two brother-directors and the deputy managing of the First Security Islami Bank to disclose the BNP leader’s whereabouts.
The Bangladesh Nationalist Party leader, who had been appointed spokesperson of the party six weeks earlier, has not been seen for nearly two months since he was taken away from a house in Uttara on the night of 10 March 2013.
At the time he went missing, the caretaker of the building told journalists that ‘detective branch’ officers had taken Salah Uddin blindfolded from the first floor flat and put him into a vehicle waiting outside.
Local guards and security officers also confirmed RAB vehicles were seen that night in the vicinity of the building, and that its officers had sought the location of the house where Salah Uddin was residing.
RAB and the detective branch have consistently denied any involvement in the alleged pick-up of Salah Uddin, pointing to a general diary entry written by the officer-in-charge of Uttara West police station that stated that the Uttara building caretaker had told the officer that law enforcement officials were not involved – a finding that conflicted with what newspapers had reported the caretaker as saying.
RAB-1 commanding officer Lieutenant Colonel Tuhin Mohammad Masud told New Age that he could not remember whether the battalion had undertaken any raid on the Gulshan headquarters of First Security Islami Bank on 8 March. The director of RAB’s legal and media wing, Commander Mufti Mahmud Khan also said he did not know whether any raid had been conducted then. ‘March 8 is a long time ago to remember what happened,’ he said. ‘You should ask the bank.’
Previously, RAB had confirmed to New Age that it had been searching for Salah Uddin before 10 March 2015.
For First Security Islami Bank, it all started at around 2:30am on the 8th March, when witnesses told New Age they saw three RAB vehicles and a microbus stop on the road outside its headquarters on road 8 of Gulshan-1, and about 10 people enter the bank’s premises.
The bank’s chairman is Md Saiful Alam, who is also the chairman of S Alam Group, one of the country’s major conglomerates.
‘About half of the men were in the black RAB uniform, with black bands around their heads and the other half were in plain clothes,’ said one person, who spoke to New Age on condition of anonymity due to the sensitivity of the matter.
‘There was one woman amongst them in RAB uniform. The leader seemed to be one of the men who was in plain clothes,’ the person added.
The building where Saiful Alam’s bank is located is owned by BNP’s joint general secretary Salah Uddin. RAB knew this and had been informed that the BNP leader might be hiding in the bank’s board room on the sixth floor.
A duty officer was brought to the bank to open the board room, but no one was inside. ‘I heard that they searched the room, but there was no one there,’ an employee told New Age also on condition of anonymity. A jacket belonging to a director of the bank was hanging on a chair and nothing else.
The RAB officers left at about 7:00am, but a few hours later a RAB officer came back to the bank and was seen taking away the bank’s digital video recorder and CPU linked to the bank’s CCTV camera.
The surveillance equipment was returned to the bank some days later. It is not clear whether RAB took the CCTV equipment to check whether Salah Uddin was hiding in the bank’s premises or to delete evidence that the law enforcement officials had been present in the bank earlier that morning.
First Security Islami Bank has refused to talk to New Age about the raid. Its head of marketing, development and public relations, Azam Khan declined to make any comment when asked about it.
At around the same time that RAB raided the bank, its officers also went to another location, a flat on road 136 Gulshan-1, a few minutes walk across the main Gulshan Avenue.
As New Age previously reported, when RAB arrived at the building, the officials specifically wanted to see a particular first floor flat in the building.
The paper has now been able to confirm that this flat is owned by Shahidul Islam, a director of First Security Islami Bank and also the brother of the bank’s chairman, S Alam.
Guards confirmed that Salah Uddin had lived in that flat since 5 January, the day the BNP’s chairperson Khaleda Zia announced the beginning of the nationwide siege, and that he had only left it a few days before the RAB raid.
According to those who knew the BNP leader, Salah Uddin was on friendly terms with both Shahidul Islam and his brother, the chairman of the bank, all three of whom are originally from Chittagong.
From this flat, RAB arrested the cook, Rahim, who was subsequently accused of ‘harbouring’ the BNP leader. As part of the cook’s unsuccessful application for bail, a certificate was given by the bank claiming that Rahim was its employee.
At the time RAB raided the bank and the flat on road 136, Salah Uddin was living in a flat in Uttara which was also connected to the First Security Islami Bank, and from which it is alleged that he was picked up by law enforcement agencies on 10 March.
The flat located on road 13B, in Sector 3 in Uttara is rented by Habib Hasnat, one of the three joint deputy managing directors of the bank.
Habib Hasnat, also from Chittagong, is a friend of Salah Uddin’s family.
A year earlier, Habib had allowed his old friend to stay at his in-law’s house located in sector 5 of Uttara, during the pre-January 2014 election period.
Habib Hasnat left the country on 11 March, the day after Salah Uddin was taken away from his flat. According to Salah Uddin’s wife, Hasnat called her from Dubai airport on the same afternoon and told her that her husband had been taken away by law enforcement authorities.
Bank sources say that Hasnat’s first floor office in First Security Islami bank’s headquarters is now locked.
The deputy managing director, now believed to be in New York in the USA, did not respond to multiple attempts to contact him over the phone.
New Age has attempted to contact both First Security Islami Bank’s director Shahidul Islam and his brother, and chairman of the bank, S Alam, but without success.

 

 

News:New Age/6-May-2015

 

 

269 | 270 | 271 | 272 | 273 | 274 | 275 | 276 | 277