Bangladesh Bank (BB) Governor Dr Atiur Rahman yesterday asked the new chairman and acting managing director of the BASIC Bank to restore discipline in the bank, reports BSS.
Restoring discipline in the Bank is important to regain confidence of its clients, the governor said when the chairman Alauddin A Majid and acting managing director Fazlus Sobhan of the troubled bank met him at his office at the central bank headquarters. Following the meeting, BB Executive Director SM Moniruzzaman told journalists that new chairman and the acting managing director requested the central bank to allow lending activities by its three branches. 
The central bank earlier stopped lending activities by Gulshan, Dilkusha and Shantinagar branches of the Bank after found irregularities in credit disbursement in these branches.
The new administration of the Bank also urged for relaxing some conditions of memorandum of understanding signed between the bank and BB, said Moniruzzaman. He said the finance ministry and central bank and the already brought major changes to the Bank to restore discipline in the BASIC Bank.
The Finance Ministry last week dissolved the board of the BASIC Bank and appoint Alauddin A Majid as its new chairman on the following day. Earlier, Sheikh Abdul Hye Bachchu resigned from the Bank as chairman against backdrop of charges of corruption, irregularities and misappropriation of funds against the board of directors of the specialized bank.

Kamran Reza Chowdhury  Asif Showkat Kallol

An audit report finds 13 gross anomalies in the bank’s three branches

NEW DELHI: Indian Prime Minister Narendra Modi headed to Brazil Sunday for a meeting of the BRICS group of emerging powers, hoping to seal the long-discussed deal to open a new development bank.

Modi will be the guest of Brazilian President Dilma Rousseff who also hosts the leaders of Russia, China and South Africa on Tuesday before a meeting with South American leaders the next day in Brasilia.

The countries are looking to set up a development bank to finance infrastructure projects as well as a reserve fund to fend off currency and balance of payments crises.

The bank and the reserve are being seen as a counterweight to Western- dominated financial organisations like the Washington- based World Bank and International Monetary Fund.

Modi, who was elected with a massive mandate in May, was upbeat about the two economic initiatives finally taking shape.

“I look forward to the successful conclusion of major BRICS initiatives, like the New Development Bank and the Contingent Reserve Arrangement, which have seen significant progress since their launch in New Delhi in 2012,” he said in a statement.

“These initiatives will support growth and stability in BRICS and also benefit other developing countries,” the Hindu nationalist leader added.

The BRIC acronym, to which South Africa was later added, was created by economist Jim O’Neill, who used the term in 2001 to describe the growing clout of the economic grouping. —AFP

Principal Sayeed Kamaluddin Zafree, Chairman, Shariah Supervisory Committee of Social Islami Bank Limited, speaks at a discussion meeting on “Importance of Sadakah and Role of SIBL’s Cash Waqf in Holy Ramadan” at the principal office of the bank recently.

 Principal Branch of Social Islami Bank Limited (SIBL) recently organised a discussion meeting on “Importance of Sadakah and Role of SIBL’s Cash Waqf in Holy Ramadan” and an “Iftar Maffil”.

Md. Shafiqur Rahman, Managing Director of the bank was present in the programme as chief guest, said a press release.

Abdul Mohit, Director of the bank was present as special guest.

Principal Sayeed Kamaluddin Zafree, Chairman, Shariah Supervisory Committee of the bank was the main discussant at the discussion.

Tarik Morshed, Manager of Principal Branch and SEVP presided over the programme.

AKM Shafiqur Rahman, Managing Director and CEO of National Bank Limited, speaks at a branch managers’ conference held at the bank’s training institute in Dhaka recently.

 National Bank Limited (NBL) organised branch managers’ conference at the bank’s training institute in Dhaka recently.

AKM Shafiqur Rahman, Managing Director and CEO of the bank attended the conference as chief guest, said a press release.

Md Badiul Alam, Additional Managing Director, Abdul Hamid Mia and Syed Mohammad Bariqullah, Deputy Managing Directors, and Forhad Ahmed Chowdhury, Senior Executive Vice President of the bank were also present on the occasion.