State-owned BASIC Bank has fired two of its officials for their alleged involvement in a financial crime at the bank's Gulshan branch.

The officials are Shipar Ahmed and Zahid Hasan, who were deputy general manager and deputy manager, respectively, of the branch during 2011-2013, when scams worth hundreds of crores taka took place. Ahmed was also the in-charge of the branch.

The board of the bank took the decision at a meeting on December 11, 2014 and an office order was issued last week.

“Now the bank will file criminal cases against them,” a senior official of the bank said, asking not to be named.

BASIC, which was one of the best state banks till 2009, became news headlines in 2012 for financial scams. The central bank found that then chairman of the bank Sheikh Abdul Hye Bacchu (2009-2013) had granted loans worth around Tk 5,000 crore on forged and weak documents. Many of those have become bad loans now.

Muhammed Ali, Managing Director of UCB and Selim R. F. Hussain, Managing Director of IDLC along with other executives seen at the Term Sheet signing ceremony between United Commercial Bank Limited and IDLC Finance limited Thursday.

United Commercial Bank Limited (UCB) Thursday signed a Term Sheet with IDLC Finance Limited  at the Corporate Head Office of the Bank. The signing is initiated to issue 'UCB Second Subordinated Bond' of BDT 5.0 billion as Tier-II Capital.  

Muhammed Ali, Managing Director of UCB and Selim R. F. Hussain, Managing Director of IDLC signed the Term Sheet on behalf of their respective organizations.

Among others Mr. M. Shahidul Islam, Additional Managing Director of UCB; Mr. Mirza Mahmud Rafiqur Rahman, Additional Managing Director of UCB; Mr. A. E. Abdul Muhaimen, Additional Managing Director of UCB; Mr. Md. Tariqul Azam, Deputy Managing Director of UCB; Mr. Mohammad Habibur Rahman Chowdhury, SEVP & CFO of UCB;   Mr. M. Jamal Uddin, GM & Head of Corporate Division of IDLC and Mr. Md. Mesbah Uddin Ahmed, DGM & Head of Structured Finance of IDLC were also present at the signing ceremony.

DHAKA : Bank Asia opened its 98th branch in the district town of Tangail on Thursday, reports UNB.
Dr MH Khan, a renowned physician of the district, formally inaugurated the branch at Masjid Road in the town, said a press release.
Head of the newly opened branch Md Nasir Uddin and secretary of Panchani Soyani Bazar Sadharan Babosayee Samity 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 online banking and ATM booth.
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, e-banking, ATM, etc under its online platform to deliver the highest standard of services to its clientele, said the release. Members of the business community, local elite and a large number of people also attended the auspicious event.

Bangladesh Bank (BB) Governor Atiur Rahman will announce the next monetary policy statement (MPS) later this month amid downside risks from divergent aspects, reports BSS.
"The monetary policy statement will be announced on January 29," Biru Paksha Paul, the newly-appointed chief economist of BB told the news agency. The economist, who was an associate professor of economics at a US university, did not want to make any comment on the forthcoming flagship policy instrument of the central bank.
Governor Rahman, however, already pointed out the downside risk factors while he was making some points on the country's economic outlook for 2015.
He cautioned about the possible inflationary pressure from implementation of the new pay scale, but said that BB would keep the issue in mind and design the upcoming monetary policy for expediting growth prospect.
He also put high hope on higher growth prospect provided that the political situation remains stable like last year.
"If the stimulation in domestic demand that the economy experienced at the fag end of 2014 is continued, earning a growth rate of 6.5 per cent or more will not be difficult in 2015," said the governor.
While announcing the MPS for the first half of the current 2014-15 financial year (FY15) on July 26 last year, the governor was cushioned with the already restored political, economic and social stability by the newly elected government under the leadership of Prime Minister Sheikh Hasina. This time the government has also committed of maintaining a political and social stability, but many expressed concern at the BNP-Jamaat's destructive activities in the name of politics.
Rahman said one of the main targets of the financial sector would be to increase the purchasing power of the lower and middle income people, and BB would focus on improving banking governance to help boost investment confidence, which would eventually create more jobs and increase trade and business.
Despite the risk factors, the governor will be comforted by the strong trend in the economy, which already achieved a 6.12 per cent growth rate against all political odds when the per capita income rose from $1044 in 2013-14 financial year (FY14) to $1190 in FY15.
The main objective of the BB's monetary policy stance - containing inflation - also came down to 25-month low at 6.11 per cent in December, very close the target, set out in the last MPS.
The last MPS targeted bringing the average inflation down to 6.5 per cent by June 2015, with ensuring that credit supply to private sector stimulates inclusive economic growth.
The global oil and food prices would also offer the governor a larger comfort zone to absorb some domestic jolts.
The oil price tumbled by 60 per cent in the last six months to $46 a barrel when the food prices showed down trend for the third consecutive years at the end of December.

KERANIGONJ: The 179th Branch of National Bank Limited has been inaugurated at Rajendrapur Bazar, South Keranigonj in Dhaka on yesterday, reports in a press release.
Shamsul Huda Khan, Managing Director of the Bank formally inaugurated the Branch as chief guest. A discussion meeting was held on the occasion. Mohammad Salim, Executive Vice President & Md. Jahangir Bin Hamid, Senior Vice President of the bank were present as special guest. Shahin Ahmed, Chairman of Keranigonj Upazilla presided over the meeting. Shamsul Huda Khan, Managing Director of the Bank in his inaugural speech mentioned that in future NBL will pay a remarkable contribution in the business development of Keranigonj area like other Branches of National Bank Ltd. Our Rajendrapur Bazar branch will fulfill the cherished desire of the people of this locality for modern banking facility he also added.
S M Sanaullah, Vice President & Manager of Islampur branch of the bank delivered his welcome addresses and Sheikh Mohammad Ashraf, Manager of Rajendrapur Bazar Branch delivered his vote of thanks. The elites, businessmen and huge numbers of people of the area were also present in the opening ceremony.