Banking

Abdus Samad Labu, Chairman, Al-Arafah Islami Bank Limited, presiding over a 'Doa Mahfil' at the bank’s corporate office in the city on Saturday. Md. Habibur Rahman, Managing Director, Md Enayet Ullah and Engr. Khandakar Mesbah Uddin Ahmed, Directors of th

Posted by BankInfo on Sun, Jun 18 2017 09:15 am

Abdus Samad Labu, Chairman, Al-Arafah Islami Bank Limited, presiding over a \'Doa Mahfil\' at the bank’s corporate office in the city on Saturday. Md. Habibur Rahman, Managing Director, Md Enayet Ullah and Engr. Khandakar Mesbah Uddin Ahmed, Direct

AIIB's 2nd annual meeting of governors kicks off to seek "sustainable infrastructure"

Posted by BankInfo on Sat, Jun 17 2017 09:53 am

Xinhua, Jeju Island :
The second annual meeting of the China-initiated Asia Infrastructure Investment Bank (AIIB) kicked off on Friday in South Korea's Jeju Island, with thousands of government officials, international organization officials and businessmen in attendance.
The opening ceremony of the AIIB's board of governors meeting was launched at 2 p.m. local time (0500 GMT) at the International Convention Center in the South Korean southern resort island.
This year's annual meeting brought together about 2,000 participants, including delegations of both 57 founding members and 20 new members, international organizations and academia as well as businessmen, financiers and journalists.
The attendees included over 20 finance ministers of the 77 approved AIIB members such as Australia, China, Georgia, India, Indonesia and Laos, according to South Korea's finance ministry.
South Korean Finance Minister Kim Dong-yeon, who doubles as the country's deputy prime minister for economic affairs, would chair the official sessions as his country jointly hosted the second annual meeting with the AIIB.
The second meeting was held under the theme of "Sustainable Infrastructure," seeking strategic directions of the international infrastructure bank and making major decisions on the bank's management.
"This annual meeting is particularly important for our maturing institution, as it is a chance for our shareholders and partners to engage with us and provide diverse perspectives on how the bank should transform its strategy into meaningful outcomes for people in Asia," AIIB President Jin Liqun said in his welcoming message.
Along with the official sessions, a variety of side events were scheduled such as seminars on infrastructure and the one-on-one business meetings.
Several bilateral meetings between chief delegates will be held on the sidelines of the official sessions.
Officially launched in January 2016, the Beijing-based AIIB is a multilateral development bank initiated by China and supported by a wide range of countries and regions, which will provide financing for infrastructure improvement in Asia.

news:new nation/17-jun-2017

Hafez Md. Enayet Ullah, Chairman of Board Executive Committee of Al-Arafah Islami Bank Limited, addressing the Iftar Mahfil and Clients Exchange of Views programme at Moulvibazar Branch in Dhaka recently.

Posted by BankInfo on Sat, Jun 17 2017 09:29 am

Hafez Md. Enayet Ullah, Chairman of Board Executive Committee of Al-Arafah Islami Bank Limited, addressing the Iftar Mahfil and Clients Exchange of Views programme at Moulvibazar Branch in Dhaka recently.

news:new nation/17-jun-2017

Kanak Kumar Purkayastha, DMD of BASIC Bank Limited, poses with the participants of a day-long workshop on 'Prevention of Money Laundering and Combating Financing of Terrorism' for officials at its Training Institute in the city recently. 40 officials of B

Posted by BankInfo on Sat, Jun 17 2017 09:14 am

Kanak Kumar Purkayastha, DMD of BASIC Bank Limited, poses with the participants of a day-long workshop on \'Prevention of Money Laundering and Combating Financing of Terrorism\' for officials at its Training Institute in the city recently. 40 officials of

news:new nation/17-jun-2017

Banks asked to set up remittance help desk

Posted by BankInfo on Fri, Jun 16 2017 11:01 am
Star Business Report

Bangladesh Bank has asked scheduled banks to introduce 'remittance help desk' at all their branches to improve service.

The central bank yesterday issued a circular in this regard, instructing lenders to take necessary measures so that remitters feel encouraged to send money through the banking channel.

Banks have also been asked to provide remittance-related information to the recipients on a priority basis.

As per the notice, branches will let beneficiaries lodge complaints if they are unhappy with the services or face any harassment.

The central bank also asked banks to inform clients of the benefits of sending money through banking channel.

The circular was issued after a BB research found that the remitters are reluctant to send money through banking channel because of poor service, said a central banker.

Bangladesh received $11.55 billion in remittance in the 11 months of the current fiscal year, down 14.18 percent from the same period in the last fiscal year, according to BB data.

The fall in remittance prompted the government to take measures to enhance remittance receipts.

BB has also stopped intervening in the market, retaining the dollar price at a certain level. As a result, the exchange rate went above Tk 80 per dollar in the last two months.

Also, the government is set to put in place a dedicated portal for migrant workers.

From the portal, migrant workers will have easy access to work permit-related information of their host countries, while prospective ones can get visa-related particulars.

The government will also encourage the private sector to explore new labour markets and send workers abroad at low cost under state initiatives.

The other measures include developing training infrastructure and imparting training to migrant workers to help them meet job requirements of the host countries.

Remittances from workers overseas contribute to Bangladesh's economic growth by supporting household income and consumption.

Money sent by Bangladeshi workers accounted for 6.7 percent of the gross domestic product in 2015-16.

But muted remittances growth could weigh on consumption, said Moody's on Sunday.

Islami Bank channelled the highest amount of remittance during the July-April period, bringing home $2.21 billion, according to BB data.

Dutch-Bangla Bank brought home $489 million, National $411 million, Uttara $381 million, Pubali $351 million and Bank Asia $313 million.

Among the state banks, Agrani Bank channelled the highest amount of remittance, at $1.11 billion.

news:daily star/16-jun-2017
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