IFIC Bank organised a two-day-long training course on ‘Prevention of Money Laundering and Combating Financing of Terrorism’ for the executives and officials of Chittagong division branches of the bank.

SM Abdul Hamid, Deputy Managing Director and Chief Anti-Money Laundering Compliance Officer of IFIC Bank inaugurated the training course that ended on November 16 last.

News:Daily Sun/19-Nov-2013

Bank Asia opened its 80th branch at Sonargaon-Janapath Road at Uttara in Dhaka on Monday.

A Rouf Chowdhury, Chairman of the bank, inaugurated the new branch, said a press release.

AM Nurul Islam and Mohammed Lakiotullah, Vice Chairmen, Md Safwan Chowdhury, Chairman of Executive Committee, Shah Md Nurul Alam, Chairman of Board Audit Committee, Md Mehmood Husain, President & Managing Director of the bank, attended the function.

News:Daily Sun/19-Nov-2013

Rejaul Karim Byron

Prime Minister Sheikh Hasina yesterday approved the separate pay scale for employees of Bangladesh Bank and the four state-owned commercial banks.
The premier also increased the basic salaries for the employees of Bangladesh Bank, Sonali, Agrani, Janata and Rupali banks as opposed to the recommendation made by a government panel.
Under the new 11-grade pay scale, which will replace the existing 20-grade pay structure, the basic salary for those in the lowest grade will be Tk 6,000 and Tk 55,000 for the highest.
The Finance Division might issue an order next week to this effect, Finance Minister AMA Muhith told The Daily Star after a meeting of the cabinet division at the secretariat in Dhaka.
The approval separated the pay scale of the central bank and the state-run commercial banks from the national pay scale, which Bangladesh Bank Governor Atiur Rahman has termed as an achievement.
He would take the issue to the central bank’s board after the government issues an order.
The government committee led by Cabinet Secretary Musharraf Hossain Bhuiyan submitted the proposal for a separate pay scale to the prime minister a few days ago.
Despite the latest pay hike, employees would continue enjoying the existing benefits as per bank rules, a finance ministry official said.
The pay hike came in order to recruit and retain meritorious bankers as the pay scale in the central bank and state-controlled commercial banks are lower than in the private banks. As a result, the state banks struggle to recruit and retain meritorious and efficient officials, said a member of the committee earlier.

He said 50 percent of the newly recruited officers would stay on with the state banks when the new pay scale comes into effect.
Earlier, the Banking Division had recommended the basic salary for those in the highest grade at Tk 52,000 and Tk 5,000 for the lowest grades.
In the existing 20-grade scale, the highest basic salary is Tk 33,500 and the lowest is Tk 4,100. The state banks and the central bank will have the same pay scale.
The managing directors and deputy managing directors of the state banks, who are appointed on a contractual basis, will not be included in the new pay scale.
However, the committee could not finalise the salaries for the BB governor and deputy governors. It will be decided later, said the official.

News:Thy Daily Star/16-Nov-2013

Taka became weaker against UK pound and Euro while it remained unchanged against US dollar in the inter-bank money market on Thursday. UK pound was traded between Tk 121.80 and Tk 124.70 on Thursday against Tk 120.60 and Tk 123.50 on Wednesday last. Euro was traded between Tk 101.80 and Tk 105.60 on Thursday against Tk 101.60 and Tk 105.40 on the previous day. The US dollar was traded between Tk 79.10 and Tk 80.10 on the same day.

News:Daily Sun/15-Nov-2013

United Commercial Bank Limited (UCBL) signed a remittance agreement with DEX International UK at the bank’s corporate head office in Dhaka recently.

Muhammed Ali, Managing Director of UCBL, and Asmat Ullah Butt, Director of DEX International UK, signed the agreement on behalf of their respective organizations, said a press release.

As per the agreement, the customers of UCBL will be able to receive remittance without any difficulty.

The agreement was also signed with a view to remit the hard-earned money of Bangladeshi expatriates through banking channel.

M Shahidul Islam, Additional Managing Director, Md Sohrab Mustafa, attended the signing ceremony.

News:Daily Sun/15-Nov-2013