Bangladesh Bank Governor Dr Atiur Rahman, speaks at a seminar on ‘Financial Integrity: Managing Operational Risks and Avoiding Serious Losses at the Branch Level’ at City In Hotel at Shibbarhi in Khulna Sunday.

Bangladesh Bank Governor Dr Atiur Rahman urged the officials of the central bank to tighten supervision on corporate governance, internal audit, internal controls, and external audit in lowering the risk and discouraging repetition of fraudulence.

The central bank has to go forward with firmness and promptness and every bank and Bangladesh Bank have to keep watch so that none can escape by committing any fraud, he said.

The BB chief made the observations while speaking at a seminar on “Financial Integrity: Managing Operational Risks and Avoiding Serious Losses at the Branch Level” at City In Hotel at Shibbarhi in Khulna Sunday. Bangladesh Bank, Khulna, organised the seminar.

Atiur said the central bank has undertaken several reforms and redesign actions for its financial sector supervision framework in order to ensure sound growth of the country’s banking sector.

“As part of it, the BB has instituted quick inspection and formulation of a review report on activities and various issues of financial statement analysis of the banks, and also made two separate departments out of the previous foreign exchange inspection and vigilance department,” he added.

The central bank has been setting up an Electronic Dash Board in order to identify the trends that might indicate irregularities and fraudulence from the data and information of the financial statements of the banks collected by the BB’s supervision departments, the BB Chief said.

Atiur said proper directives have been given to the banks for submitting all information regarding export-import including IBP on-line to BB, as well as to adopt IT-based system.

The IT department of BB has also undertaken initiatives to prepare suitable software for the bank. Besides, the banks have been asked to prepare fraud risk assessment worksheets on quarterly basis. The banks to make self-assessment through the worksheets that has more than 50 assessment criteria, said Dr Atiur.

Bangladesh Bank has appointed the National Fraud Risk Detection and Risk Mitigation Adviser who, with the help of the related departments, will detect the limitations of existing policies, strategies, and guidelines of BB, determine the adequacy of the information sent by the commercial banks, and prepare recommendations on future actions along with providing training programme for the selected Bangladesh Bank Staff, said Dr Atiur.

In the Khulna and Barisal divisions, there are more than 1,200 branches of the scheduled banks, or about 15 percent of the total branches in Bangladesh. Overall, these branches manage about Tk 200 billion in loans and advances and about T. 260 billion in deposits, which represents only 6 percent of the total activity in the banking sector, BB chief mentioned.

He asked BB officials to check whether these branches are following the right procedures in handling the deposits of the people of the region.

Less attention from the head office, due to lower transactions and greater physical distance, fewer face-to-face meetings between branch managers and executive management in Dhaka, and other factors could expose these branches to a higher risk of internal and external fraud. Thus, we have to keep our keen/watchful eye on it.

News: The Daily Sun/Bangladesh/12-Nov-12

Eastern Bank Limited (EBL) organised a training course on 'Prevention of Money Laundering Act, and Anti Terrorism Act-2012' for the officials of different commercial banks of Noakhali.

The training course was held at Nice Guest House and Training Hall at Maijdee Court in Noakhali Saturday, said a press release.

The training course was participated by 55 branch managers from different banks of the district.

Mohammad Musa, Head of Operation Risk of EBL inaugurated the training programme.

Md. Rafiqul Islam, Joint Director, and Mohammad Abdur Rab, Deputy Director of Bangladesh Financial Intelligence Unit, Bangladesh Bank conducted the training course.

Md. Abdul Awal, Head of Operation Risk, SD, ICCD and Mohammad Shahjahan Ali, Head of Compliance Unit, ICCD of EBL also took part in the programme.

News: The Daily Sun/Bangladesh/12-Nov-12

Md. Sayedul Hasan, Deputy Managing Director of Dutch-Bangla Bank Limited inaugurates Ati Bazar branch at keraniganj in Dhaka Sunday.

The 122nd branch of Dutch-Bangla Bank Limited (DBBL) was opened at Ati Bazar in Keraniganj upazila in Dhaka Sunday.

Md. Sayedul Hasan, Deputy Managing Director of the bank inaugurated the branch, said a press release

The branch equipped with modern facilities will provide on-line banking services to its clients.

People from all walks of lives visited the new branch throughout the day and showed their spontaneous enthusiasm by opening accounts with the new branch of Dutch-Bangla Bank.

A milad mahfil seeking blessings of the Almighty Allah was held after the opening ceremony for the successful operation of the branch.

News: The Daily Sun/Bangladesh/12-Nov-12

Mohammed Nurul Amin, Managing Director of NCC Bank Limited, launches ‘Youngster Banking’ at Viqarunnisa Noon School and College in Dhaka recently.

NCC Bank Ltd launched NCCB Youngster Banking for the school going students at Viqarunnisa Noon School and College recently.

Mohammed Nurul Amin, Managing Director of NCC Bank, inaugurated the activation of the programme as chief guest, said a press release.

Manju Ara Parvin, Principal of Viqarunnisa Noon School & College, Akhtari Bashar, Asstt. Head Mistress and Ishtiaque Ahmed, Sr. EVP of NCC Bank also attended the function.

Any school-going student within the age of 18 years can open an account in NCCB Youngster Banking. NCCB Youngster Account have three options; Regular Savings Account, Monthly Deposit Scheme and Fixed Deposit.

News: The Daily Sun/Bangladesh/12-Nov-12

The Supreme Court (SC) on Thursday stayed a directive of the Securities and Exchange Commission (SE) on compulsory two percent share holding for two directors of Jamuna Bank. The appellate division of the apex court issued the order following an appeal filed by Al-Haj M. A. Khayer, a director of Jamuna Bank.

“Stay as prayed for is granted in respect of petitioners only till March 17, 2013, on which date the leave petition will come up for hearing before the court, said the court order.

“The Supreme Court issued stay order only in favour of the petitioners,” SEC director Mahbubur Rahman said.

Commenting on the court order, DSE president Rakibur Rahman told daily sun that the stay order will be applicable for the petitioners only. He also said if any body files leave to appeal petition, he/she can get the same court order.

News: The Daily Sun/Bangladesh/12-Nov-12