Doha: Qatar, which makes huge investment abroad, has agreed to deposit US$1.8 billion in the Bangladesh Bank, Governor Dr Atiur Rahman said here on Monday.

“I had a meeting with acting governor of Qatar central bank…we discussed the matter in details. A memorandum of understanding (MoU) will soon be signed in this regard,” Atiur told UNB in Doha after a meeting with Sheikh Fahad Faisal Al-Thani.

The meeting was held at 10 am (local time) at the central bank office of Qatar in Doha.

Dr Atiur said a technical team of Bangladesh Bank will visit Qatar in January to finalise the terms and conditions in this regard.

He said if Qatar deposits the money with the Bangladesh Bank, its reserve will increase and it will have a positive impact on the balance of payments.

An official at the central bank here said the BB will share profits with the Gulf nation from investing the fund abroad if things get finalised.

The BB official said the central bank makes a handsome amount of profit every year from the investments it makes abroad.

News: The Daily Sun/Bangladesh/4th-Dec-12

The country’s single-month inward remittance in November this year witnessed a sharp fall as wage earners remitted $1098.25 million compared to $ 1330 million in October.

Bangladesh bank (BB) data shows the trend of remittance inflow maintains a steady growth in the current financial year (FY) 2012-13 with $ 1 billion. The rising trend continued till October, but fell drastically last month.

With the latest amount received, the country’s total remittance in last five months reached $ 6.1 billion from July to November period.

In October this year, the inward remittance hit the single-month highest at $1.33 billion, Bangladesh bank (BB) data shows. Fabulous flow of remittance during October surpassed the previous single-month highest of $1.22 billion posted in January this year.

The central bank data showed the country received the amount in a period between 1-26 October. With the latest development, total inward remittance stands at $4.89 billion from 1st of July to 26th October.

In September, the flow of remittance marked a steady growth though the month is considered to be the lean season, according to official statistics.

From 1st to 28th September, expatriate Bangladeshis remitted $ 1.05 billion (Tk 82 billion) in the country from different destinations across the world, the Bangladesh bank (BB) data shows.

The remittance flow rose in September 2012 as remitters sent extra pennies to near and dear ones during Eid-ul-Azha and Durga Puja.

News: The Daily Sun/Bangladesh/4th-Dec-12

Shah A Sarwar has joined IFIC Bank Ltd as its managing director, the bank said in a statement yesterday.

He was serving as the managing director of Trust Bank Ltd prior to this appointment.

Sarwar started his career as management trainee at ANZ Grindlays Bank in 1982 and has since worked with Standard Chartered Bank, American Express Bank and United Commercial Bank Ltd.

He has also served as managing director and chief executive officer of Industrial Promotion & Development Company Bangladesh Ltd and Premier Bank.

News: The Daily Star/Bangladesh/4th-Dec-12

Chief Executive Officer of Standard Chartered Bangladesh Jim McCabe receiving the prestigious ‘Bank of the year’ award at The Banker Awards 2012 at The Intercontinental Park Lane Hotel, London recently.

Standard Chartered Bank Bangladesh has been awarded the prestigious "Bank of the year" award at The Banker Awards 2012.

The award was handed over to Jim McCabe, Chief Executive Officer of Standard Chartered Bangladesh at a grand gala dinner program held at The Intercontinental Park Lane Hotel, London recently.

While receiving the award Mr. McCabe said, "we are delighted to receive this award which is a testimony of our commitment to serve our clients in this market consistently over so many years and we are proud to be able to make positive contributions in Bangladesh. We are thankful to all our clients and colleagues of the bank for their support in getting this prestigious award once again."

This is the third international award that Standard Chartered Bangladesh won this year. Earlier this year we also won the "Best Retail Bank in Bangladesh" award from The Asian Banker and the "Best Foreign Commercial Bank in Bangladesh" award from FinanceAsia. A presence in Bangladesh that spans over a century means that we are part of the country's heritage. Starting from opening the first letter of credit in sovereign Bangladesh immediately after independence, Standard Chartered has been a partner in progress for the nation. These awards reiterates that we are 'Here for good' in Bangladesh.'

Now in its 13th year, The Banker Awards has become one of the most prestigious events within the industry. The Banker is the world's premier banking and finance resource. Read in over 180 countries around the world, The Banker is the key source of data and analysis for the industry. Its unique database of more than 4000 banks maps their financial strength and soundness via Tier 1 capital, their profitability, and their performance versus their peers.

News: The Daily Financial Express/Bangladesh/3rd-Dec-12

The government received US$ 748 million worth of foreign aid in the July-October period of the current fiscal, more than double the amount received in the corresponding period of last fiscal, officials said Sunday.

In Jul-Oct period of the last financial year (FY) 2011-12, the government received US$ 353.71 million in assistance from multilateral and bilateral donors, official data showed.

The Economic Relations Division (ERD) statistics, released on Sunday, also showed that the donors had committed $ 1.74 billion in loans and grants during the first four months of the current financial year of 2012-13.

In the corresponding period of the last fiscal, the donors committed $ 2.06 billion in aid for Bangladesh's development work.

"Since Japan and the World Bank have disbursed a good amount of aid, the overall foreign assistance flow in the Jul-Oct period of the current fiscal has been impressive," a senior ERD official told the FE.

During the period under review, a total of $ 150 million in loan had been disbursed by Bangladesh's largest bilateral donor, Japan, and $ 285 million by the largest multilateral donor World Bank, the ERD statistics showed.

The second largest multilateral donor-Asian Development Bank-has also extended an impressive amount of assistance worth $ 136 million.

Among other donors, the United Nations Development Programme (UNDP) disbursed $25 million and the International Labour Organisation $34 million during the period.

"We are hopeful about achieving our foreign aid target through the government channel in the remaining eight months of the current fiscal," a senior ERD official said.

The government had set a foreign aid target of nearly $2.20 billion for the current financial year.

News: The Daily Financial Express/Bangladesh/3rd-Dec-12