CAB President Md Abdus Salam FCA speaks at a training course on IFRS for Bangladesh Bank officials organised by The Institute of Chartered Accountants of Bangladesh (ICAB) at CA Bhaban in the city Sunday.

Speakers at a function stressed the need for quality inspection of all branches of commercial banks to stop embezzlement in the banking sector.

The ICAB professionals in association with Bangladesh Bank can jointly act to minimise such acts by ensuring transparency and higher level of monitoring of the internal control system.

ICAB President Md Abdus Salam FCA said this on Sunday while inaugurating 25-day-long training on IFRS for Bangladesh Bank officials organised by The Institute of Chartered Accountants of Bangladesh (ICAB) at CA Bhaban in the city.

Bangladesh Bank Deputy Governor Md Abul Quasem was present as chief guest.

Quasem said accounting professionals are playing a major role in uplifting country’s economy. Accounting language is guided and directed by concepts and conventions, and professional accountants are the administrators of this language, he added.

“So, being the regulatory body of financial sector, I hope the BB officials will be benefited through sharing knowledge with the highly trained ICAB accounting professionals,” he added.

A total of thirty-five senior officials of the central bank are participating in the training.

ICAB Vice-president Gopal Chandra Ghosh FCA, past president Md Syful Islam FCA, Md Humayun Kabir FCA and distinguished ICAB members and BB officials were present on the occasion.

Akhlaqur Rahman, COO of MetLife Alico Bangladesh, and Mir Mominul Huq, Head of Mobile Banking Division of DBBL, exchange documents after signing an agreement at the bank's Head Office in Dhaka

Monday. Dutch-Bangla Bank Limited (DBBL) signed an agreement with MetLife Alico Bangladesh aiming at collecting insurence premiums through mobile banking.

As per the agreement, policy holders of MetLife Alico will be able to pay their insurance premium directly through DBBL mobile banking accounts, said a press release.

Akhlaqur Rahman, COO of MetLife Alico, and Mir Mominul Huq, Head of Mobile Banking Division of DBBL, signed the agreement at the bank's Head Office in Dhaka Monday.

M Nurul Islam, Head of South Asia, Syed Hammadul Karim, Sub-Regional COO of South Asia, KS Tabrez, Manging Director and Abul Kashem Md Shirin, Deputy Managing Director of DBBL, attended.

Bangladesh Bank (BB) has included the members of the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) in the list eligible for its low-cost Export Development Fund (EDF).

The central bank Monday issued a guideline on the limit of borrowing from the export development fund in form of foreign exchange by the authorised dealer (ADs) banks.

In the circular, issued by the Foreign Exchange Policy Department (FEPD) of the central bank, set the borrowing limit for ADs up to $1 million from to finance import of raw materials by mills under BGAPMEA for local deliveries of garment accessories to manufacturer-exporters against inland back to back letter of credit (LC).

Earlier in December 22, 2009, the central bank allowed the ADs to borrow from the EDF against their foreign currency loan to the mills under Bangladesh Textile Mills Association (BTMA) to make bulk import of raw cotton and other fibers against deemed exports.

The latest circular reads, an EDF loan to an AD against their foreign currency financing of input imports of BGAPMEA member mills, shall not exceed (i) the value realised in foreign exchange against inland back to back LCs over the past 12 months, or (ii) $1. million, whichever is lower.

Freedom fighter Joinul Haque Shikdar, Chairman, Shikdar Group and National Bank Limited (NBL) leads a procession at Shahbagh in Dhaka.

National Bank Limited has extended its solidarity with the on going movement of the new generations at 'Projanma Chttar' in Shabag area demanding death sentence to all war criminals including Kader Mollah.

Freedom fighter Joinul Haque Shikdar, Chairman, Shikdar Group and National Bank Limited (NBL) led the procession, said a press release.

Anwer Hossain Khan, Chairman of Shahjalal Islami Bank Ltd, distributes a blanket to a poor people of Ramganj in Laxmipur district on Saturday.

Shahjalal Islami Bank Ltd (SJIBL) distributed winter clothes among the distressed people of Ramganj area in Laxmipur district Saturday.

Anwer Hossain Khan, Chairman of the bank distributed 2000 pieces of blankets, said a press release.

Md. Abdur Rahman Sarker, Managing Director, Md. Abdul Jabber Chowdhury, Deputy Managing Director, Md. Shamsuddoha Shimu, Vice President and Head of PR and Md. Bellal Hossain, Manager of Ramganj branch of the bank were present on the occasion.