Bangladesh Bank (BB) has eased the procedures of offering banking services to the street children, with lifting the condition of mandatory permission from BB by the non-government organisations (NGOs), reports BSS.
The central bank in a directive yesterday said interested NGOs now can apply to any scheduled bank for offering the services to the street children.

On receiving application, the bank will sign a memorandum of understanding (MoU) with the concerned NGO after considering its credibility and track records in operations.
The bank will submit all necessary documents to the Green Banking and CSR Department of BB within 15 days after launching of the banking services to the street children.
On March 10, 2014 the central bank in a circular asked all banks to allow street children and child workers open bank accounts by taking a deposit of Tk 10 only, which the banks are now offering to farmers and others who cannot afford normal banking services.
Following the directive, 10 banks teamed up with the non-government organisation Save the Children for offering the service to the destitute children who have no option other than living and working in railway stations, bus and ferry terminals, slums and footpaths.

The central bank plans to inspect HSBC's local office after the publication of reports linked to 34 client accounts of Bangladeshis in the banking giant's tax leaks.

Inspectors will check whether the client accounts associated with Bangladesh are legal, Mahfuzur Rahman, executive director of Bangladesh Bank and deputy head of the Financial Intelligence Unit (FIU), told reporters yesterday.

The BB summoned HSBC's officials in Dhaka to the central bank headquarters.

“We will also write to the FIU of Switzerland seeking details of the Bangladeshis who were named in the report.”

Leaked documents show that 34 accounts associated with Bangladesh had a total of $13 million in HSBC Suisse, which has been accused of abetting affluent tax-dodgers across the world.

“We will cooperate with the central bank in every possible way,” said Talukdar Noman Anwar, head of communications at HSBC's Bangladesh office.

HSBC started business in Bangladesh in 1996. It does business with retail and commercial banking, but with no private banking, according to the bank.

The leaked report showed that the accounts from Bangladesh were opened between 1985 and 2006, including seven offshore accounts.

Of the $13 million deposits by Bangladeshis, a maximum amount of money associated with a single client was $4.4 million. However, the report did not mention the name of the individual who had the maximum amount there.

Bangladesh is ranked 148th among 203 countries in terms of the deposited money. India is ranked 16th with $4.1 billion deposited with the HSBC's Swiss branch, Pakistan 48th with $859.7 million, Nepal 116th with $54 million, Myanmar 133th with $26.5 million and Sri Lanka 112th with over $58 million.

The man at the centre of the SwissLeaks tax scandal in Britain is a soft-spoken Church of England clergyman who turned HSBC into Europe's biggest bank, and was once seen as a model of ethics in finance.

HSBC's former chief executive and chairman, Stephen Green, used to be courted for his advice by politicians of all stripes and by the Anglican hierarchy, but now he finds himself widely shunned.

The ex-banking titan was pursued down a London street by a BBC journalist this week in the wake of the revelations, refusing to answer questions.

"I'm not prepared to make any comments about HSBC business past or present," the 66-year-old Green said before walking off, clutching his briefcase.

Growing pressure may force him to change his mind.

Green has been asked to testify before a British parliamentary committee which is investigating who knew what, when about alleged tax dodging strategies on accounts containing tens of billions of pounds.

The fall from grace has been particularly astonishing for a man praised for steering HSBC through the global financial crisis without the bailouts using taxpayer money that other banks resorted to.

The son of a lawyer, Green began his career with the management consultancy McKinsey in 1978 and joined HSBC in 1982, rising to the top of an institution with its historical roots in the British empire.

As he rose through the ranks in his 28-year career with the bank , he was also ordained as an Anglican clergyman in 1988. He has spoken frequently about the need for an ethical approach in banking.

He has written a book entitled "Serving God? Serving Mammon?" about how to reconcile being a Christian with working in finance, as well as calling for "enlightened" capitalism.

The links between the Church of England and the world of business are not so unusual and there are many ordained clergy in secular employment.

Since his retirement, Green has also advised the Church of England on how to reform its hierarchy -- putting forward proposals that have proved controversial as being too business-minded.

In a letter in the Guardian this week, a fellow clergyman, Reverend Paul Nicolson from the campaign group Taxpayers Against Poverty, criticised Green.

"The Rev Stephen Green's chairmanship of HSBC while legal tax avoidance and illegal tax evasion were taking place raises important questions for the Church of England about the role of all clergy in secular employment," Nicolson wrote.

The focus of the political controversy over Green, however, has been his time in government in a period after the revelations about HSBC's Swiss private banking arm first surfaced in 2007.

Bangladesh Bank (BB) has raised the cash entitlement to $5,000 from previous $3,000 for traveling abroad.
The central bank in a circular on Wednesday asked all the authorised dealers to issue outbound Bangladeshi citizen cash foreign currency amounting up to $5,000 per person per trip against their annual travel quota, reports BSS.
The non-resident Bangladeshi and the foreigners will also get the similar amount of cash US dollars against their related bank accounts, the circular said.
BB in April last year enhanced private travel entitlement to $12,000 per adult passenger during a calendar year, with up to $5,000 or equivalent for travel to SAARC member countries and Myanmar and up to $ 7,000 or equivalent for travel to other countries. For minors below 12 years in age, the applicable quota is half the amount admissible for adults.

RAJSHAHI: Rajshahi Krishi Unnayan Bank (RAKUB) should be committed to reach its services towards doorsteps of the farmers in general for elevating their living and livelihood condition.
Besides, the bank should work for bringing all the existing agricultural potential sectors and sub-sectors under qualitative and quantitative investments for making the regionÂ’s agro-based economy more vibrant, reports BSS.
Board of Directors of the bank made these observations in 423rd meeting held at its board room here on Tuesday afternoon with Chairman Prof Dr Shah Newaz Ali in the chair, RAKUB sources here said on Wednesday.
RAKUB, headquartered in Rajshahi, has been operating its banking activities as the largest development partner in all 16 northwest districts of Rajshahi and Rangpur divisions targeting its agricultural sector and all its sub-sectors.