Syed Mahbubur Rahman, Managing Director, BRAC Bank, received Citi Distinguished Alumni Awards for his special leadership.

Citi globally introduced the Citi Distinguished Alumni Awards which recognises Citi Alumni who have exhibited special leadership, said a press release.

In 2013, out of 90 submissions from around the world, a total of 40 were selected by Cit Alumni Relations in New York.

In a recent event held at Citi’s Bangladesh corporate office, Rahman was presented with a trophy and certificate by Rashed Maqsood, Managing Director and Citi Country Officer for Bangladesh.

Also present at the occasion were SAA Masrur, Chief Executive Officer of Bank Alfalah Limited and Citi Bangladesh Alumni Ambassador along with 50 Citi Alumni and Citi Bangladesh Management Committee.

News:Daily Sun/05-Feb-2014

Xpress Money, one of Bank Asia, to  the leading money transfer brands, recently announced a strategic extension of its services with offer ‘Any Bank Account Credit’ service to its Bangladeshi customers,

says a press release. Xpress Money’s ‘Any Bank Account Credit’ service with Bank Asia will provide beneficiaries an access to their funds sent to any branch of any scheduled or specialized bank in Bangladesh,

within 48 hours from the time the remitter completes the transaction. 

This service is routed through Bangladesh Electronic Funds Transfer Network (BEFTN), a payment solution provided by Central Bank of Bangladesh.

Xpress Money is the first amongst the international money transfer operators to introduce this service in Bangladesh

. 
The service does not levy any back-end charges to customers. Speaking on the launch, Shamim Iftakhar, country manager-Bangladesh,

Xpress Money, said, “We are pleased to introduce the ‘Any Bank Account Credit’ service with Bank Asia that would enhance the Direct Account Credit service in Bangladesh.

This unique service will boost the savings culture amongst Bangladeshis as the remittances are directly credited to their savings account with any bank in Bangladesh.

Bangladesh being a critical market for Xpress Money, it is essential that we strategically expand our services to attract both white-collared and blue-collared expats.”

Xpress Money offers a bunch of services to address varied customer demands in both develop and developing remittance markets.

“We constantly innovate to bring homes closer for the growing expatriate community of Bangladesh,” he added.

A file photo shows an establishment of Hallmark Group is being demolished by authorities on the outskirts of Dhaka. Sonali Bank board of directors on Monday decided to file a number of cases against Hallmark Group with Artha Rin Adalat and other civil courts in a bid to recover Tk 2,554 crore embezzled by the group. — New Age photo.

Sonali Bank board of directors on Monday decided to file a number of cases against Hallmark Group with Artha Rin Adalat and other civil courts in a bid to recover Tk 2,554 crore embezzled by the group.

The board made the decision in a meeting and the bank will file a number of cases against the companies concerned of Hallmark Group which embezzled around Tk 3,000 crore with the help of some officials of Sonali Bank. 

Sonali Bank director Zaid Bakht told New Age on Monday that the bank would file the cases within this month in a bid to recover the swindled money by Hallmark Group.

This is for the first time Sonali Bank will file the cases against Hallmark Group’s managing director Tanvir Mahmud along with related persons involved in the embezzlement which was unearthed in 2012.

Tanvir and other Hallmark officials along with a number of high officials of Sonali Bank have already faced criminal cases by the Anti-Corruption Commission for embezzlement of the money.

An investigation by Bangladesh Bank revealed that the Ruposhi Bangla Hotel branch of Sonali Bank had lent Hallmark Group and five other companies Tk 3,606.48 crore in between 2010 and May 2012 on the basis of fake documents.

A high official of Sonali Bank told New Age that in the first phase the bank would file civil cases against Hallmark Group to recover the money and then they would go for five other companies.

The funded and non-funded liabilities of Hallmark with the bank stand at around Tk 2,554 crore as the bank has so far recovered around Tk 500 crore, he said. 

Sonali Bank board of directors on Monday decided to file a number of cases against Hallmark Group with Artha Rin Adalat and other civil courts in a bid to recover Tk 2,554 crore embezzled by the group.

The board made the decision in a meeting and the bank will file a number of cases against the companies concerned of Hallmark Group which embezzled around Tk 3,000 crore with the help of some officials of Sonali Bank. 

Sonali Bank director Zaid Bakht told New Age on Monday that the bank would file the cases within this month in a bid to recover the swindled money by Hallmark Group.

This is for the first time Sonali Bank will file the cases against Hallmark Group’s managing director Tanvir Mahmud along with related persons involved in the embezzlement which was unearthed in 2012.

Tanvir and other Hallmark officials along with a number of high officials of Sonali Bank have already faced criminal cases by the Anti-Corruption Commission for embezzlement of the money.

      
An investigation by Bangladesh Bank revealed that the Ruposhi Bangla Hotel branch of Sonali Bank had lent Hallmark Group and five other companies Tk 3,606.48 crore in between 2010 and May 2012 on the basis of fake documents.

A high official of Sonali Bank told New Age that in the first phase the bank would file civil cases against Hallmark Group to recover the money and then they would go for five other companies.

The funded and non-funded liabilities of Hallmark with the bank stand at around Tk 2,554 crore as the bank has so far recovered around Tk 500 crore, he said. 

Muhammed Ali, Managing Director of UCBL, along with other senior officials seen at the MoU signing with Vanguard Asset Management Limited, in Dhaka on Sunday.

United Commercial Bank Limited (UCBL) joined hands with Vanguard Asset Management Limited (VAML) on expanding future business opportunities.

A Memorandum of Understanding (MoU) was signed between UCBL and VAML at the Corporate Head Office of UCBL on Sunday, said a press release.

Muhammed Ali, Managing Director and Mohammed Shawkat Jamil, Deputy Managing Director of UCBL and Waqar Ahmed Chowdhury, Managing Director and CEO of VAML signed the MoU on behalf of their respective organisations.

M. Shahidul Islam, Mirza Mahmud Rafiqur Rahman, and AE Abdul Muhaimen, Additional Managing Directors, Md. Tariqul Azam,

Deputy Managing Director of UCBL and ASM Arif,

SVP and Head of Structured Finance Division, Md Rifatur Rahman Joarder, Deputy Chief Executive Officer of VAML along with other senior officials of both the companies were also present in the programme.

Mohammad Lutfar Rahman, Chairman of the Executive Committee of the Board of Directors of IFIC Bank inaugurates the Mohakhali Branch of the bank at Siddique Tower at Mohakhali in Dhaka on Sunday.

The newly shifted Mohakhali Branch of IFIC Bank was inaugurated at its new location on Sunday.

The branch has been shifted to Siddique Tower at Mohakhali from its previous location to offer modern banking services at the doorstep of the customers, said a press release.

Mohammad Lutfar Rahman, Chairman of the Executive Committee of the Board of Directors inaugurated the branch at a ceremony.

Shah A Sarwar, Managing Director and CEO, Mati-ul Hasan, Deputy Managing Director (Business), SM Abdul Hamid, Deputy Managing Director and Chief Financial Officer (CFO), SEVP of the bank and AKM Mozharul Hoque, Company Secretary, senior executives of the bank and local dignitaries attended the inaugural ceremony.