Md. Mehmood Husain, President and Managing Director of Bank Asia seen with the participants of a training programme on Foreign Exchange at the bank's training institute at Panthapath in Dhaka recently.

In an effort to improve professional efficiency on foreign exchange, Bank Asia organised a seven-day long training programme for its 7th batch Management Trainees.

Md. Mehmood Husain, President and Managing Director of the bank, inaugurated the training programme as chief guest, said a press release.

The programme was held at the bank's training institute at Panthapath, Dhaka recently.

Bangladesh Bank (BB) Wednesday warned the commercial banks of stern actions for not accepting mutilated or defective currency notes from a public.

In case of any non-compliance, the central bank will initiate stern actions against the management of concerned branch and head office of the banks, the central bank said in a circular Wednesday.

The BB circular also asked the banks to check genuineness of the currency notes before initiating payments against the mutilated or defective notes.

According to BB circular, 90 percent of the security features of the mutilated or defective notes must be genuine for full refund on submission of torn bank notes.

Bank branches will need to send the currency notes of different denominations which are more than two-split submitted by clients seeking refund, the circular reads.

Banks were also directed by the central bank to hang notice regarding value refund against mutilated or defective notes at visible places at every branch offices.

Branches of all scheduled banks at Anwara-Patya in Chittagong will remain closed today for parliamentary by-election in the vacant Chittagong-12 constituency.

Bangladesh Bank, in a circular Wednesday, gave the directive and asked for proper compliance.

The decision of keeping banks closed has been taken to facilitate the polls, the circular says.

Bangladesh Bank Governor Dr Atiur Rahman inaugurates a new branch of Bangladesh Bank at Durgabari Road in Mymensingh district town Wednesday.

Bangladesh Bank  (BB )formally opened its Mymensingh branch Wednesday.

BB Governor Dr Atiur Rahman inaugurated the branch during a function at its premises at Durgabari Road in Mymensingh town.

With the new branch, the number of central bank’s branch now stands at 10.

The new branch will supervise the banking activities of Mymensingh, Jamalpur, Kishoreganj, Netrokona, Tangail and Sherpur.

While addressing the inaugural function, BB Governor Atiur Rahman said the central bank is initiating new techniques and appointing efficient manpower considering the rising demand for ensuring sound economic growth in the country.

He also said due to some limitations, the central bank has not been able to fulfill the increasing demand of the customers through its head office.

So Bangladesh Bank has decided to open a new branch in Mymensingh, Atiur said.

The existing BB branches are located at Motijheel and Sadraghat in Dhaka and one each in Sylhet, Chittgaong, Rajshahi, Rangpur, Khulna, Bogra and Barisal.

Atiur Rahman said there are about 600 branches of different banks in six districts under Mymensingh region and the central bank has been monitoring those branches through its head office.

He also expressed hope that the supervision of Bangladesh Bank in Mymensingh region will be smoother with the opening of the new branch in Mymensingh.

MA Sattar Mondal, member of Planning Commission, Lokman Hossain Mia, Deputy Commissioner of Mymensingh, Mymensingh Municipality Mayor Ikramul Haque Titu, Mv Mahfuzur Rahman, executive director of Bangladesh Bank and managing directors of different private banks were also present at the inaugural function.

The Bangladesh Bank on Tuesday asked the scheduled banks to follow the Bangladesh Bank (Note Refund) Regulations 2012, adding that the BB would take punitive action against the officials concerned of the banks if they fail to abide by the rules.

The BB in a circular asked the banks to repay full value of a note to clients through the cash counters if the single largest piece of a mutilated or charred note presented is more than 90 per cent of the note.

   
As per the new BB regulation, banks will pay 50 per cent value of a mutilated or charred note to the clients, if the single largest piece of the note presented before the bank is between 51 per cent and 75 per cent of the note.

 
The clients will get 75 per cent of its value, if the single largest piece presented is between 76 and 90 per cent of the note. No claim regarding a charred note will be considered unless the unburnt area of the note is more than 50 per cent of the note.