AAM Zakaria, Managing Director of FSIBL, inaugurates a branch in Jessore Monday.

First Security Islami Bank Limited (FSIBL) opened a branch in Jessore Monday.

AAM Zakaria, Managing Director of the bank, inaugurated the branch, said a press release.

Sheikh Afil Uddin, MP, Syed Waseque Md Ali, Deputy Managing Director, Quazi Osman Ali, and Habib Hasnat, Senion Vice Presidents, Kazi Md Amanullah, Head of General Services Division, Taher Ahmed Chowdhury, Head of Information Communication Technology Division, Azam Khan, Head of Marketing and Development Division, branch manager and local elites attended the function.

News: The Daily Sun/Bangladesh/18th-Dec-12

Islami Bank Bangladesh Limited (IBBL) organised a conference for its clients in Naria recently.

Colonel (Retd) Shawkat Ali, MP, Deputy Speaker of the Jatiya Sangsad, presided over the conference as chief guest, said a press release.

Md Nurul Islam, Deputy Managing Director of the bank, attended the function as the special guest while AKM Harunur Rashid, Executive Vice President and Head of Barisal Zone of the bank, spoke.

Mageda Showkat Ali, Woman Leader and Social Worker and Mohammad Asaduzzaman, Upazila Nirbahi Officer of Naria attended the function.

Shawkat Ali, in his speech, suggested the officials of Islami Bank to invest in industries and business development sectors at Naria and urged local people for receiving the service of the bank.

News: The Daily Sun/Bangladesh/18th-Dec-12

The government Monday signed an agreement with the Asian Development Bank (ADB) for US$160 million in loans to help Bangladesh develop sustainable urban public transport systems in greater Dhaka areas.

The assistance will contribute to developing a sustainable urban transport system in Dhaka North City Corporation and Gazipur City Corporation areas, which form part of north Greater Dhaka, by constructing a 20-kilometer bus rapid transit (BRT) route. It will help establish the first modern mass transit system in Bangladesh pursuing a holistic solution for integrated urban mobility.

Saifuddin Ahmed, Joint Secretary, Economic Relations Division (ERD) and M. Teresa Kho, Country Director of ADB’s Bangladesh Resident Mission, signed the agreement on behalf of Bangladesh and ADB respectively, at a ceremony at ERD, Sher-e- Bangla Nagar, Dhaka.

The assistance for the Greater Dhaka Sustainable Urban Transport Project will also construct sidewalks, mixed-traffic lanes, high-capacity drainage system, BRT depot and terminal facilities, and 155 access roads for non-motorised transport.

The BRT Airport terminal will be developed as an intermodal hub under a public-private partnership scheme. With an inclusive approach, the project will install 1,000 energy-efficient streetlights along the corridor; improve 10 local markets, nine drains, 141 local roads, and two pedestrian-friendly pilot roads, and further improve traffic management. The Project will directly benefit more than 1 million people.

News: The Daily Sun/Bangladesh/18th-Dec-12

Bangladesh Bank Governor Dr Atiur Rahman speaks at the inauguration of Trader Work Station (TWS) at Jahangir Alam Conference Hall of BB in Dhaka Monday

Bangladesh Bank (BB) Monday launched a new software to expedite the secondary bond market with offering a more investors’ friendly online platform to buy and sell government securities, including treasury bills and bonds.

Inaugurating the software at a programme at the central bank headquarters in the city, governor Dr Atiur Rahman said this would offer online services to banks, financial institutions and their clients for buying and selling treasury bills and bonds.

The software, known as Trader Work Station (TWS), is already in use in many developing countries for trading of bills and bonds in the secondary market, the governor said.

Besides, he said anyone could have information about the market value of the bills and bonds and their yield, volume and the date of issue and expiry from the website of the Bangladesh Bank.

News: The Daily Sun/Bangladesh/18th-Dec-12

Stocks gained 2.17 percent yesterday -- the highest in three weeks -- thanks to a buying spree in anticipation of a good run.

The banking sector, which accounts for 30 percent of the total market capitalisation, registered substantial gains in the last few days to pull up the DGEN to close at 4,177 points.

“Investors preferred the most-weighted banking sector anticipating a bear run in the market,” said Masrib Zahid, managing director of Cosmopolitan Finance, adding that it was encouraging to see that the DGEN was not dropping beyond the 4,000 points.

“However, it is a matter of concern that the volume is so low, which suggests low investor confidence,” he said.

Turnover rose by 23.94 percent from the previous day to Tk 218 crore.

“Investors were more upbeat on the banking sector, which gained by 3.46 percent,” IDLC Investments said in its daily market commentary.

“In addition, some other large cap stocks -- Grameenphone, Titas Gas and Lafarge Surma Cement -- experienced positive movements which turned it into a large cap rally,” the merchant bank said.

A total of 0.75 lakh trades were executed yesterday, with 6.96 crore shares and mutual fund units changing hands on the Dhaka bourse.

All the major sectors ended in the black. Banks rose by 3.45 percent, followed by non-bank financial institutions at 3.32 percent, power 2.17 percent, telecommunications at 0.80 percent and pharmaceuticals at 0.58 percent.

Of the 260 issues that traded on the DSE, 222 advanced, 33 declined and 5 remained unchanged.

National Bank was the top traded stock of the day with its transaction of 67.22 lakh shares worth Tk 15.21 crore.

Prime Leasing and Finance was the biggest gainer of the day, posting an 8.87 percent rise, while Modern Dyeing and Screen Printing was the worst loser, slumping 6.78 percent.

News: The Daily Star/Bangladesh/18th-Dec-12