A two-day-long anti-money laundering conference organised by Rupali Bank Limited at a hotel in Cox’s Bazaar ended on Saturday. M Farid Uddin, Managing Director of Rupali Bank presided over the conference titled “AML and CFE Compliance in Banks Operating under Islamic Principles,” said a press release. Abu Hena Md Razi Hasan, Deputy Governor of BB, M Mahfuzur Rahman, Executive Director, Devprasad Devnath, GM and Md Shamsul Haque, DMD of Islami Bank were present at the conference. News:Daily Sun Bangladesh/25-Aug-2013

Dr. Muhammad Asaduzzaman, Managing Director of Bangladesh Commerce Bank, is seen at a training course in Dhaka recently. Bangladesh Commerce Bank Limited (BCBL) organised a training course on “Foundation Course in Banking” in Dhaka recently. Dr. Muhammad Asaduzzaman, Managing Director of the bank, presided over the course as chief guest, said a press release. Shamsuddin Ahmed, EVP (HRD), Principal (acting) of BCB Training Institute, Md Abdul Karim and Md Mobarak Hossain, AVP of the bank, attended the function. News:Daily sun Bangladesh/25-Aug-2013

In order to prevent the scam, Bangladesh Bank must be given full autonomy for monitoring the activities of state-owned banks as is done in case of private commercial banks. The Banking Division of the Ministry of Finance should not intervene in the operation of the state-owned banks for the betterment of the banking sector as well as businesses and economy of the country. ICCB Vice President Latifur Rahman said this at a workshop on New ISBP (International Standard Banking Practices) 2013 and URBPO (Uniform Rules for Bank Payment Obligation). The incidents of recent scam in the banking sector took place in collaboration with a group of bank officials and influential group, he said adding, “Though the Bangladesh Bank is taking measures to prevent the scams, the incidents are growing faster than actions. The International Chamber of Commerce (ICC), the world business organisation has been formulating various rules followed worldwide for international trade, he added. The ICC revised the International Standard Banking Practices (ISBP) which has become effective from July 2013 and also formulated the United Rules for Banking Payment Obligations. As the workshop will be dealing with these important topics, he urged upon participants to take full advantage of the presentation by the expert and get clarified on all issues. He said the companies engaged in international trade are facing growing threat from fraud and forgery. Besides, the recent scam in some of the state-owned banks have shaken entire banking sector, he mentioned. The commercial banks are now taking extra precautionary measures in opening LCs, which shows less import in the recent past. If this trend continues, the much needed development of the country’s industrial base will be in jeopardy, said the ICCB vice president. To face these challenges, concerned officers and authorities must be skilled about trade finance practices, said the ICCB vice president said adding, “The ICC Bangladesh often gets information on fraud activities both from local exporters, importers, institutions and also from the counterparties.” Vincent O’Brien and Digby Bennett who conducted the workshop and ICCB Secretary General Ataur Rahman also spoke on the occasion. A total of 166 participants from banks, financial institutions and export oriented industries attended the workshop and around 49 participants are expected to attend the workshop on the same topic to be held in Chittagong today (Sunday). News:Daily Sun Bangladesh/25-Aug-2013

Bangladesh Bank Governor Dr Atiur Rahman yesterday suggested bankers to bring small and medium business activities in Cox’s Bazar region under banking services to support development of the tourism sector. “Banks need to play active role to bring all small and medium business activities of the tourism region Cox’s Bazar under banking service for their further development,” Atiur said while addressing as chief guest at the opening session of a workshop in Cox’s Bazar. Officials of different banks working in Cox’s Bazar region attended the workshop on financial inclusion, said a BB press release yesterday. He said the main objective of banks is to ensure banking services for marginal and grassroots level people. Banks must play active role to reach banking services to doorstep of local people because banks are run by people’s money, he added. The governor said banks should take steps to ensure banking service for small and medium salt producers in Cox’s Bazar. He also urged banks to make banking services available for fishermen in Cox’s Bazar. — BSS News:Daily Sun Bangladesh/25-Aug-2013

CHUADANGA: Bangl adesh Krishi Bank (BKB) has fixed a target to disburse Taka 75 crores as agricultural and business loan to the farmers and businessmen here during the current fiscal. The loan is being disbursed for crop cultivation, fish cultivation, cattle, goat and ram rearing, purchasing of agriculture equipments, tractors and poverty alleviation etc. During the month of July the bank has disbursed Taka one crore and 84 lakhs among 432 loan receivers of Chuadanga region of the bank against the target. On the other hand, the bank has fixed up the target to realise Taka 69.20 crores of outstanding loan from the Chuadanga region of the bank during the current fiscal. — BSS News:Daily Sun Bangladesh/23-Aug-2013