Comilla : Bangladesh Commerce Bank Limited (BCBL) inaugurated its 44th branch “Kangshanagar Bazar Branch” in Burichong, Comillainformed by the authority.
Bangladesh Commerce Bank Limited (BCBL) inaugurated its 44th branch “Kangshanagar Bazar Branch” in Burichong, Comilla on 18 August 2014, Monday. Md. Yousuf Ali Howlader, Chairman of the Board of Directors of BCBL inaugurated the branch as Chief Guest. Mr. Abu Sadek Md. Sohel, CEO & Managing Director was present on the occasion as Special guest. Besides, local elite and a good number of valued customers as well as Senior Executives of the bank were present at the opening ceremony.

Bangladesh Bank has added three new products, including garment sector ones, to its refinance scheme of low-interest loans.

The banking regulator included solar water-pumps, green industry and workplace safety projects of the apparel industry in the scheme.

The highest loan limit for solar water-pumps is Tk 3 core, Tk 20 crore for green industry and Tk 1 crore has been earmarked for garment factories, the central bank said in a notice yesterday.

Borrowers will have to pay a 9 percent interest rate for green industry and garment factories and 11 percent for solar irrigation pumps. The repayment period is six years, five years and 10 years respectively, with a nine-month grace period.

Earlier in May, BB included 26 new products to its revolving refinance scheme for solar energy, biogas and effluent treatment plants.

The central bank set up a Tk 200 crore revolving fund in 2009 for banks and financial institutions to disburse as low interest loans for solar energy, biogas and effluent treatment plants.

The central bank provides funds to banks and financial institutions at 5 percent interest, so they can provide loans on easy terms.

Bangladesh is willing to join the newly-formed BRICS Bank though the multilateral development bank is yet decide on whether it would include any country outside the five founder nations.

“We have decided to join BRICS Bank,” Finance Minister AMA Muhith told reporters after a meeting yesterday with Asian Development Bank Vice-President Lakshmi Venkatachalam at his secretariat.

Officially called the New Development Bank (NDB), it was formed in July 2013 by the emerging markets of Brazil, Russia, India, China and South Africa as an alternative to the US-dominated World Bank and International Monetary Fund.

Each of the five nations will initially contribute $10 billion to bring the bank's starting capital to $50 billion. Its primary focus of lending, scheduled to start in 2016, will be infrastructure projects.

However, NDB is yet to decide on whether it would give membership to any country other than its founder members.

Finance ministry sources said the Economic Relations Division has sent a letter to Bangladesh ambassadors in the five countries to enquire whether the country can join the bank.

Bangladesh has also communicated to Indian High Commissioner in Dhaka Pankaj Saran its willingness to become a member of NDB.

 National Bank Limited organised an orientation programme for its newly-recruited probationary officers at the bank’s training institute in Dhaka recently.

A K M Shafiqur Rahman, Managing Director and CEO of the bank attended the programme as chief guest, said a press release.

With conferring Bangladesh Bank Award 2013, the central bank at a programme today (Wednesday) is paying its highest tribute to two eminent economists for their lifetime and distinct contribution to the economy and the development of the country.

The central bank is arranging the august event at its training centre at Mirpur in the city to confer its top award on Professor Dr Muzaffer Ahmad and Dr Swadesh Ranjan Bose (posthumous).

“The award has been conferred on Professor Dr Muzaffer Ahmad and on Dr Swadesh Ranjan Bose for their distinctive contribution to the development economy,” a BB statement said on Tuesday.

Finance Minister Abul Maal Abdul Muhith will be present at the award giving ceremony as the chief guest. Chairman of Palli Karam Shahayak Foundation (PKSF) Dr Qazi Koliquzzaman Ahmed, Director General of Bangladesh Institute of Bank Management (BIBM) Dr Toufic Ahmed Chowdhury, Director General of Bangladesh Institute of Development Studies (BIDS) Dr Mustafa Kamal Mujeri and family members of the two late economists will speak on the occasion. BB Governor Dr Atiur Rahman will chair the event. A gold medal, Taka one lakh in cash and a BB crest will be handed over to each of the heir of the awarded economists.

A five-member jury board of prominent economists of the country led by the BB governor jointly nominated these two prominent economists for the Award.

Professor Dr Muzaffer Ahmad was an economist best known for his diverse researches on industry, education, international economics, public enterprises, human rights, health economics, labour relations, good governance, rural development and poverty reduction and environmental issues. He was also awarded the Ekushey Padak in 2008. Dr Ahmed died in 2012. —BSS