Eastern Bank Ltd (EBL) has signed a memorandum of understanding (MoU) with Chittagong Women Chamber of Commerce and Industry (CWCCI) to help develop women entrepreneurship in the country

Md. Khurshed Alam, head of SME, EBL and Gulshanara Ali, acting president of CWCCI signed the MoU on behalf of their respective organizations at the SME fair venue, Polo Ground Chittagong recently.

 
Anwar Faruq Talukder, Head of Small Business, Md. Saiful Islam, Md. Abdul Aziz Unit Heads from EBL, Sharmin Husain, Nasrin Sarwar Meghla, directors of CWCCI were present among others.

Under the MoU, EBL and CWCCI will work jointly for development of women entrepreneurship in Chittagong area.

In addition to the financial support EBL will provide different non-financial services like training to Women entrepreneur, bridging supplier & buyers etc. on the other hand CWCCI will help EBL to find out potential women entrepreneun.

Mutual Trust Bank Limited opened its 81st branch at Iris Noorjehan Tower at Kakrail in Dhaka.

Rashed Ahmed Chowdhury, Vice Chairman of MTB inaugurated the branch at a function Wednesday, said a press release.

Anis A. Khan, Managing Director and CEO of MTB, Md. Ahsan-uz Zaman, Additional Managing Director, Quamrul Islam Chowdhury and Md. Hashem Chowdhury, Deputy Managing Directors, local elite attended the function.

News: The Daily Sun/Bangladesh/21th-Dec-12

Al-hajj Abdus Samad, Chairman of EC of Al-Arafah Islami Bank, presides over a meeting at the bank’s board room in Dhaka Wednesday.

The 372nd meeting of the Executive Committee (EC) of the board of directors of Al-Arafah Islami Bank Limited was held at the bank’s board room in Dhaka Wednesday.

Al-hajj Abdus Samad, Chairman of EC of the bank, presided over the meeting, said a press release.

News: The Daily Sun/Bangladesh/21th-Dec-12

Bangladesh Bank has directed all the banks to better their SME service by taking steps such as skill development of the officials and displaying the SME credit policy at every branch across the country.

In a letter Thursday, the central bank’s SME and Special Programmes Department issued the directive to the banks’ managements.

The directive came after a Bangladesh Bank investigation found that the small and middle entrepreneurs were getting confused about SME credit policy as they were not receiving proper service from the banks’ officials concerned. Such situation was the result of lack of inefficiency among the officials in handling SME loans disbursement, the investigation observed.

In some banks, personal or consumer loan accounts were being logged with those of SME loans, leading the SME people to get confused, the central bank’s letter said.

Bangladesh Bank’s SME department said appropriate training, supervision and monitoring by respective banks’ managements could improve SME loan service.

It, however, said: “SMEs are getting momentum due to relentless endeavors of the central bank and the banks.”

The central bank department, in a separate letter to the branches of different banks, said that the banks could use several refinancing funds of Bangladesh Bank, JICA and ADB to promote SMEs.

News: The Daily Sun/Bangladesh/21th-Dec-12

Government’s finance division said it would not issue special bonds for implementing new power projects as banks face difficulties when bonds remain unsold.

Earlier, Power Division requested Finance Division for special bonds to finance newly proposed power plants, especially the coal-fired 1320 megawatt plant at Rampal in Bagerhat district.

In a letter to power division secretary on 13th of this month, Finance Division’s assistant secretary Abu Dayan Mohammed Ahsanullah conveyed their decision on issuing special bonds to fund power projects.

Meanwhile, the treasury bills and treasury bonds issued by government bond bazaar primary dealers through an auction failed to attract the clients.

As a result, Bangladesh Bank, banks and the government agencies concerned were forced to devolve the unsold bonds and bills on themselves, finance division letter said. It further said the government bills and bonds on the secondary market were not transacted to the expected level.

Besides, given the current financial strength and cash flow position in the country, finance division said the bonds without government guarantee have the lowest possibility of being sold.

In addition, interest rates of the new bonds will be very high, reads the finance division letter.

“So it’s not time befitting to issue new bonds in the market for implementing the new power projects,” the finance division directive said.

Power Division sought $302 million as equity for the newly-formed India-Bangladesh Friendship Power Company that will be responsible to set up the 1320MW coal-fired plant in Rampal, said a senior official.

He also said Bangladesh Power Development Board (BPDB) is likely to sign a power purchase agreement (PPA) with the Indian National Thermal Power Company (NTPC) on January 2 next year to implement the plant.

News: The Daily Sun/Bangladesh/21th-Dec-12