The Bangladesh Bank has asked the scheduled banks to submit their insurance deposit-related information online and through manual system to the central bank in due time.

If the banks fail to submit such information in due time, they will face financial penalty.
The BB on Monday issued a circular to managing directors and chief executive

officers of the banks saying that from now on the banks would have to submit the insurance deposit-related information online and through the manual system.

The banks now submit the information only through manual system.
The banks will submit the information within the first month after every half year in the new format prepared by the BB, the circular said.

The central bank will impose financial penalty on the banks in accordance with the Bank Company Act-1991 if the banks fail to submit the information in due time.

The Bangladesh Securities and Exchange Commission on Tuesday rejected the rights issue applications of BRAC Bank and IFIC Bank as the banks did not apply for the rights issue properly.

The commission took the decision at a meeting presided over by its chairman M Khairul Hossain, a BSEC news release said.

The BSEC release said the commission did not consider the rights issue applications of BRAC Bank and IFIC Bank as their issues were not fully underwritten which is a violation of section 3(d) of Securities and Exchange Commission Rules-2006.

The board of directors of BRAC Bank on April 16 recommended one rights share against existing two shares at an issue price of Tk 20 including a premium of Tk 10.

The board of directors of IFIC Bank in 2012 decided to offer three rights shares against existing four shares at an issue price of Tk 20 including a premium of Tk 10.

The BSEC on Tuesday also fined Jalalabad Securities Limited Tk 3 lakh as it issued loans against consolidated customer account violating securities rules.

Mobarak Hossain, General Manager of Agrani Bank and Abdul Mannan Bhashani, Executive Director of SPS, exchange documents after signing an agreement at the bank’s boardroom in Dhaka Tuesday.

The state-owned Agani Bank Limited signed an agreement with Social Progress Services (SPS) for distributing saplings of oil palm, orange, strawberry,

litchi and neem free of cost to the farmers across the country.

Mobarak Hossain, General Manager of Agrani Bank Limited and Abdul Mannan Bhashani,

Executive Director of SPS signed the agreement on behalf of their respective organisations at the board room of the bank in Dhaka Tuesday.

RANGPUR: The daylong monthly divisional business assessment meeting for June- 2013 of the officials of the principal, regional and corporate branch offices of Sonali Bank Limited (SBL) was held here on Monday.

General Manager of Rangpur General Managers’ Office ATM Afzal Hossain presided over the meeting at his conference room while newly appointed General Manager of the same office AFM Ali Asgar was present as the guest of honour.

All regional chiefs, chiefs of all six principal offices, regional offices, corporate branches and senior officials of the SBL from all eight districts in Rangpur division participated.

The meeting assessed business achievements of all regional, corporate, principal offices and branches of the bank during the just ended fiscal year and put maximum emphasis on achieving all fixed business indexes during the current fiscal.

Expressing satisfaction on achieving the fixed business targets during the last fiscal, the senior SBL officials asked its field level officials for achieving all set business targets of the bank during the current fiscal year.

They suggested for increasing capitals and profits through providing best services, realizing classified loans, exploring prospective sectors, settling pending cases and unbalanced balanced, coordination of reconciliation, updating various data bases etc. 

Mosharraf Hossain, Chairman of the Board of Audit Committee of SJIBL, presides over a meeting at the bank's head office in Dhaka recently.

Shahjalal Islami Bank Limited (SJIBL) organised the 145th meeting of its Board of Audit Committee (AC) at the bank's head office in Dhaka recently.

Mosharraf Hossain, Chairman of the Board of Audit Committee of the bank, presided over the meeting, said a press release.