M Farid Uddin, Managing Director of Rupali Bank Limited, seen at a meeting to exchange views with the borrowers about recovery of classified loan at the RBHRDC auditorium of the bank in Dhaka Saturday.

News: The Daily Sun/Bangladesh/11-Nov-12

KS Tabrez, Managing Director of DBBL, speaks at a foundation training course at the bank’s training wing at Gulshan in Dhaka Saturday.

Dutch-Bangla Bank Limited (DBBL) initiated a four-week foundation training course for its officers.

KS Tabrez, Managing Director of the bank inaugurated the 36th training course at the bank’s Training Wing at Gulshan in Dhaka Saturday, said a press release.

The course is designed aiming at familiarising the participants with the concepts, principles, rules, regulations and practices of banking.

News: The Daily Sun/Bangladesh/11-Nov-12

Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of Islami Bank Bangladesh Limited, speaks at a business development conference at a hotel in Bogra Saturday.

Islami Bank Bangladesh Limited organised business development conference for Bogra, Rajshahi and Rangpur zones.

Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of the bank was present as chief guest at the function at a hotel in Bogra Saturday. Mohammad Abdul Mannan, Managing Director of the bank chaired, said a press release.

Mohammad Serajul Islam, former principal, Madrasah-E-Mesbahul Ulum and Dr. Mohammad Abdus Samad, Associate Professor of International Islamic University, Chittagong for Dhaka campus and members of Shariah Supervisory Committee of the bank were present as special guests.

Md. Shafiqul Mawla, Executive Vice President and Head of Bogra Zone, AAM Habibur Rahman, Executive Vice President and Head of Rajshahi Zone, Taher Ahmed, Senior Vice President and Head of Rangpur Zone and Md. Kamal Uddin Jasim, Senior Vice President and head of business promotion and marketing division spoke at the conference.

News: The Daily Sun/Bangladesh/11-Nov-12

AAM Zakaria, Managing Director of First Security Islami Bank, inaugurates an ATM booth of the Bank at the Bank’s Head Office premises at Gulshan in Dhaka recently.

First Security Islami Bank Limited inaugurated an ATM booth at the Bank’s Head Office at Gulshan in Dhaka recently.

AAM Zakaria, Managing Director of the bank opened the booth, said a press release Saturday.

Md. Abdul Quddus and Syed Waseque Md. Ali, Deputy Managing Directors, Kazi Osman Ali, SEVP and Syed Habib Hasnat, Head of Divisions were present on the occasion.

The Bank in the first phase will open 30 ATM booths by December 2012 in various locations of the country and 50 more in the second phase across the country.

News: The Daily Sun/Bangladesh/11-Nov-12

NEW YORK: Citigroup said it will pay $15.5 million to Vikram Pandit, its former chief executive who resigned from company last month, as well as to his top deputy.

The bank said on Friday the payments to Pandit and former Chief Operating Officer John Havens reflect the progress the bank made in 2012 and work they did in some earlier years.

The statement came less than a month after board members led by Chairman Michael O’Neill told Pandit privately that his work was not satisfactory, sources said at the time. Michael Corbat, head of Europe, Middle East, and Africa for Citigroup, was named the new chief executive.

The payments are the final chapter in the reign of Pandit, who was named chief executive just as the financial crisis started and shepherded the bank through three government rescues and a series of subsequent miscues.

O’Neill lost confidence in Pandit after missteps that included the bank’s failure to win regulatory approval to return capital to shareholders this year, sources had said.

Payments to departing officers are a thorny matter for corporate boards because investors question the benefit the company gets from handing money over to executives that no longer work there.

Citigroup said it was paying the men what it had to. “While Citi will also honor all past awards that they are legally entitled to, there are no severance payments. Before and during the financial crisis, outgoing executives often received much more money. In 2007, for example, Merrill Lynch Chief Executive Stan O’Neal left his company with a severance package of $161.5 million.

News: The Daily Sun/Bangladesh/11-Nov-12