Banking
BB's finance for agro-based plants grows three-fold
Loan disbursement in agro-based industries under the central bank's refinance scheme rose three-fold in 2013 from a year ago.
The scheme gave out Tk 197 crore in loans from the agro-based refinance scheme last year, compared to Tk 65 crore in 2012.
Loan distribution increased due to Bangladesh Bank's direct monitoring and increase in the size of the available fund, a central bank official said.
The BB increased the loan scheme—formed in 2003 with Tk 100 crore—to Tk 400 crore last year.
Borrowers except in Dhaka city, divisional cities, and Narayanganj city can access loans under the scheme.
The scheme covers 37 sectors including cold stores, dairy, jute products, tea processing and flower preservation. The maximum applicable rate of interest is 10 percent.
Till date, Tk 403 crore loans have been disbursed from the scheme, of which Tk 229 were outstanding as of December 2013, the BB official said.
RAKUB holdstown hall meeting
Rajshahi Krishi Unnayan Bank (RAKUB) organised a town hall meeting for all officers and staff of the bank of Lalmonirhat and Kurigram zones.
Prof Dr. M Shah Nowaz Ali, Chairman of the board of directors of RAKUB, presided over the meeting as chief guest at Lalmonirhat Zila Parishad Auditorium on Saturday, said a press release.
Md Mofazzal Husain, Managing Director of the bank and directors, Saifuddin Ahmed, Joint Secretary of Economic Relations Division, Ministry of Finance, Md Abaydur Rahman Pramanik, Prof of Accounting and Information Systems, Rajshahi University and Dr. Nazmul Bari, Deputy Managing Director of the bank attended the meeting.
Emdadul Haque, Secretary of the board of RAKUB, Shumsur Rahman, Mahbubul Alom, zonal managers, managers and staff of 37 branches of Lalmonirhat were present.
Al-Arafah Islami Bank okays 13.5pc stock dividend
Badiur Rahman, Chairman of the board of Al-Arafah Islami Bank, presides over a board meeting at the bank’s head office in Dhaka on Thursday.
Al-Arafah Islami Bank Limited recommended 13.5 percent stock dividend for the year ended on 31st December 2013, subject to the approval of the annual general meeting (AGM).
The decision was taken at the 254th meeting of the board of directors of the bank, held at the bank’s head office in Dhaka on Thursday, said a press release.
Badiur Rahman, Chairman of the board of the bank, presided over the meeting.
During the meeting, the board members have taken a decision to organise the 19th AGM of the bank on 30th March 2014.
Vice Chairman of the board SM Shameem Iqbal, Members Md Harun-Ar-Rashid Khan, Abdul Malek Mollah,
Hafez Md Enayet Ullah, Abdul Moktadir, Ahamedul Haque, Abdus Samad, Kh Engr. Mesbah Uddin Ahmed,
Abdus Salam, Niaz Ahmed, Emadur Rahman, Doc. Md Shafiul Haidar Chowdhury, Brig. Gen. (Retd.) MA Malek,
Kazi Badruddin Ahmed, Managing Director of the bank Md Habibur Rahman, Company Secretary and Deputy Managing Directors attended the meeting.
News:Daily Sun/3-Mar-2014City Bank inks deal with Dusai Resort
Mashrur Arefin, DMD and COO of City Bank and Nasser Rahman, Managing Director and Chairman, Dusai Resort and Spa, exchange documents after signing an agreement in Dhaka recently.
City Bank recently
signed an agreement with Dusai Resort and Spa, a luxurious 5-star quality boutique villa type resort and spa in Bangladesh nestled inside 14 acres of hills, beside the tea gardens in Moulvibazar district in Sylhet.
Under the agreement, customers of CityGem, the exclusive priority banking arm of City Bank, will enjoy
various special offers at Dusai which include 20 percent discount on all types of rooms, 20 percent discount on spa, 10 percent discount on foods and beverages etc. supported by dedicated officials for the Citygem clientele.
Mashrur Arefin, DMD and COO of City Bank and Nasser Rahman, Managing Director and Chairman, Dusai Resort and Spa signed the agreement on behalf of their respective organisations.
Among others Ali Reza, Head of CityGem Priority Banking, Nazmul Karim Coudhury, Head of Brand of City Bank and Nabil Nasser, Director, Trina Falgune, Head of Sales and Marketing of Dusai Resort & Spa and other senior officials from both the organisations were present.
Atiur asks banks, FIs to foster green technology
Bangladesh Bank Governor Dr Atiur Rahman on Saturday commented that access to finance is the key to fostering green technologies and asked banks and financial institutions to come up with products tailored with that reality.
“To foster the development of green technology, appropriate financing mechanism is essential from banks and financial intermediaries,” said Dr Atiur Rahman.
“But access to finance is vital for the successful implementation of green initiatives,” he added. An unencumbered flow of financing can expedite the growth of green industry, he said.
“This is high time for the banks and financial institutions to move forward with research and development which is indispensable for exploring appropriate technologies and techniques and new green products,” Dr Atiur said.
BB Governor was addressing the inaugural function of Green Finance Conference 2014 at city’s Bangladesh Bank Training Academy (BBTA).
He said transition to a green economy has the potential to unlock new growth engines and spur business opportunities and Bangladesh can also benefit from widespread use of green technologies.
BB has been encouraging green banking since 2008 with issuing green banking guideline, and instructing banks and FIs on environmental risk management, CSR and financial inclusion, he mentioned.
The central bank governor said the banks in Bangladesh have been advised to finance solar energy, bio-gas plant, ETP and Hybrid Hoffman Kiln (HHK) in brick field under refinance programs.
“In order to bring further momentum in this mode of financing, we have already introduced Taka 2.0 billion refinance line against bank loans for investments in 16 green products. Of late, the off-take from this green fund has started acquiring desirable momentum,” he said.
SK Sur Chowdhury and Nazneen Sultana, Deputy Governors of Bangladesh Bank and ASM Main Uddin Monem, Vice-Chairman of NCC Bank Ltd, Dipal Chandra Barua, President of the Bangladesh Solar and Renewable Energy Association and Ataur Rahman, executive director of the Bangladesh Bank Training Academy among others, spoke on the occasion.