Dutch-Bangla Bank Limited (DBBL) and Int’l Turkish Hope School (ITHS) recently signed an agreement for e-Payment of student fees through DBBL Internet Payment Gateway by using DBBL Nexus Debit Card, MasterCard and Visa card.

The agreement was signed by Bedrettin Suata, Chairman, Int’l Turkish Hope School and Md. Kamruzzaman, Head of Personal Banking Division, DBBL on behalf of their respective organizations, said a press release.

News:Daily Sun/27-Nov-2013

The 129th meeting of the Audit Committee of the Board of Directors of Al-Arafah Islami Bank Limited was held at the bank’s Board Room in Dhaka on Monday.

Alhajj Abdus Salam, Vice Chairman of the committee presided over the meeting, said a press release.

During the meeting, the board members have reviewed overall business performance of the bank.

News:Daily Sun/27-Nov-2013

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has said investment and domestic economic activities are largely affected due to prevailing high interest rates of bank loan. The cost of importing capital machinery and raw materials are also being affected due to higher interest rates of bank loan, the country’s apex trade body made the observations in its quarterly (July to September) published magazine “FBCCI Business News.”
Along with the limitation of infrastructure and ongoing political stalemate, high interest rates of bank loan are hampering the industrialisation and investment of the country, it said. “It is very difficult for any businessman to ensure profitability with high interest rate where lack of infrastructure limitation exists,” it added.
Currently, the interest rates varies from 16 to 19 per cent where additional service charges are taken without proper justification, it pointed out.
“Though different steps have been taken to overcome the problems of infrastructures, no serious attention is being given to lower the interest rate,” it said adding that it was the long-wanted demand of the business community in Bangladesh to reduce the current lending rates for the greater interest of economic development of the country. The prevailing high interest rates of bank loan are leading the local businessmen and entrepreneurs to lose their business competitiveness in the international market compared with the neighbouring countries, the editorial said.
The rates prevailing in the neighbouring countries are apparently much lower, it said and added that thus, it provides a cutting edge in supplying their products to Bangladesh.
It would be very difficult to lower the interest rate until policy decisions were take adequately to overcome the crux of the problems, the FBCCI said.
At present, the banks are holding excess funds and could not lend the excess funds as businesses were reluctant to take loans at high rates, it said.
Besides, the current political situation merged with rising violence in the name of hartal was also creating bottlenecks for the business to shy away from further borrowing and investment in the country, the FBCCI said and opined that the government should come up with a solution to make the interest rates affordable.

News:Daily Independent/25-Nov-2013

The Hongkong and Shanghai Banking Corporation Limited (HSBC Bangladesh) opened a new business development office at Uttara EPZ in Nilphamari.

This is the 8th business development office of HSBC Bangladesh and with this, HSBC has become the only international bank to be present in all the eight EPZs of Bangladesh, said a press release.

Uttara EPZ, established in 2001, housed a range of diversified exporters.

News:Daily Sun/26-Nov-2013

United Commercial Bank Limited (UCB) organised a trainee officer induction programme at the bank’s corporate head office learning and development centre in Dhaka on Monday.

Muhammed Ali, Managing Director of the bank inaugurated the programme. The newly recruited trainee officers attended the induction programme, said a press release.

News:Daily Sun/26-Nov-2013