Banking
IBBL gets gold medal for bringing huge remittance
Islami Bank Bangladesh Limited (IBBL) received Gold Medal for its outstanding contribution to the foreign remittance services of Bangladesh.
Bangladesh Bank Governor Dr. Atiur Rahman, on behalf of Centre for NRBs, handed over the award to Mohammad Abdul Mannan, Managing Director, IBBL at a function at Sonargaon hotel in Dhaka on Tuesday, said a press release.
US Ambassador in Bangladesh Dan W. Mozena, Ambassador of European Union William Hana, FBCCI President Kazi Akramuddin Ahmed,
former Bangladesh Bank Governor Dr. Farashuddin and former Deputy Governor Khondokar Ibrahim Khaled were present on the occasion as special guests.
IBBL also received “Branding Bangladesh Award” for its great contribution in branding Bangladesh across the globe.
NCC Bank training course ends
The programme was arranged for the newly-recruited officers of the bank, said a press release.
Jagadish Chandra Debnath, Principal of the training institute presided over the function.
Prime Bank recommends 12.50pc cash dividend
The Board of Directors of Prime Bank on Wednesday recommended 12.50 percent cash dividend for its shareholders for the year ending on December 31, 2013 .
The Board has also decided to issue “Prime Bank Subordinated Bond-2” up to Tk. 2,500.00 million for raising Tier-II Capital subject to approval of the Regulatory Authorities, according to DSE website.
The Annual General Meeting of the company will be held on March 30, 2014 at 3:00 PM at Ruposhi Bangla Hotel in the capital.
The Record date is 13.03.2014. The Company has also reported Consolidated EPS of Tk. 1.98, Consolidated NAV per share of Tk. 22.69 and Consolidated NOCFPS of Tk. 2.41 for the year ended on December 31, 2013.
Meanwhile, the Board of Directors of Union Capital Limited recommended 10 percent stock dividend for the year ending on December 31, 2013.
The Annual General Meeting of the company will be held on March 31, 2014, at 10:30 AM at the LGED Auditorium (First Floor) in city’s Agargaon.
The Record datehas been set on 13th March, 2014.
The Company has also reported consolidated net profit after tax of Tk. 141.76 million, consolidated EPS of Tk. 1.29, consolidated NAV per share of Tk. 18.29 and consolidated NOCFPS of Tk. 3.13 for the year ended on December 31, 2013 as against Tk. 56.72 million, Tk. 0.52 (restated), Tk. 17.00 (restated) and Tk. 3.17 (restated) respectively for the year ended on December 31, 2012. —UNB
BB to form CSR regulation
Bangladesh bank (BB) plans to formulate a regulation for corporate social responsibility (CSR) funds, mandatory for commercial banks and other financial institutions.
“We are going to formulate a regulation for CSR activities with the provision of retaining a minimum percentage of net profit of the financial institutions for performing their CSR activities” said BB governor Dr.
Atiur Rahman yesterday. He was addressing a MoU signing and cheque distributing ceremony organised by Green Banking and CSR department of Bangladesh Bank.
A total of nine government and non-government organisation, performing social services, were awarded by the BB’s Disaster management and social responsibility department for their outstanding contributions.
The BB distributed cheques worth about Tk 4.25 crore among the organisations to enhance their benevolent activities.
Distributing the cheques the governor hoped that the regulation would help build up a huge fund for CSR activities with wilful participations of banks and other financial institutions.
News:Dailly Sun/5-Mar-2014Atiur: Easy transfer system helps Bangladesh achieve high remittance growth
Bangladesh Bank Governor came up with the disclosure while addressing an inaugural session of the World Conference Series-2014
The country’s remittance inflows have gradually witnessed a growth of an average of 11% against 7.15% in the other Asian countries during the last four years (FY2009-13) thanks to easy and hassle-free remittance transfer system.
Bangladesh Bank Governor Atiur Rahman came up with the disclosure while addressing an inaugural session of the World Conference Series-2014 titled “NRB Talent, Remittances and Investment for Development’’ held at a city hotel yesterday.
“Remittances in Bangladesh now stand around 10% of the GDP, rising from 5% of the GDP in the beginning of year 2000,” he said.
“Despite global economic recession and political turmoil in the Middle East, Bangladesh’s financial and external sectors continued to remain resilient with the foreign exchange reserves of more than $18bn, which was mainly aided by the robust growth in exports, moderate growth in imports and due to unflinching remittance inflows.”
Describing the growth trends in remittance inflows, Atiur said: The remittance inflow in the FY 2012-13 were around $14.46bn, a 12.59% growth, leading a current account surplus for the last five years, only in south Asia, despite being a trade deficit country.
This demonstrates inherent strength of our external sector and hence that of our currency. And one must give credit to NRBs for attaining this strength, said the governor.
Pointing at the central bank’s steps for ensuring easy and hassle-free remittance transfer system, he said Bangladesh Bank had already simplified approval policy for drawing arrangements between foreign exchange houses and domestic banks.
Thirty-seven banks have already been permitted to set up 1,084 drawing arrangements with 288 exchange houses all over the world for collecting remittances. Responding to this arrangement, some banks have already established exchange houses abroad.
“Bangladesh Electronic Fund Transfer Network (BEFTN) and mobile banking are operating in full-swing to ease remittance disbursement. Micro-finance Institutions (MFIs) are also involved as partners in smooth delivery of inward remittances.”
The central bank has already given licenses to at least three NRB banks to further improve the pace of remittances & foreign investment inflows in the country, said the governor.
News:Daily Sun/5-Mar-2014