Bangladesh received remittances from expatriates worth $1.45 billion in October this year, the record highest in a month.

Fabulous flow of remittances into the country in October surpassed the previous single-month record posted in January 2012, which was $ 1.22 billion, Bangladesh bank (BB) data shows Thursday.

The data showed the country received $1.45 billion in a period between 1st to 31st October.

The BB data shows the trend of remittance inflow maintains a steady growth in the current financial year (FY) 2012-13 with over $ 1 billion in every month in an average.

News: Daily Sun/Bangladesh/02-Nov-12

Muhammed Ali, a prominent banker with 35 years’ of multi-dimensional experience in banking sector Thursday joined UCBL as Managing Director and CEO.

Prior to joining UCBL, he was the managing director of Social Islami Bank Ltd, said a press release.

Ali started his career with Sonali Bank as a probationary officer in 1977. During his long career, he capitalised the opportunities to work with many other banks like, National Bank, National Credit Ltd, Standard Bank, Shahjalal Islami Bank and Social Islami Bank.

Ali held different senior management positions in the arena of credit, foreign exchange, treasury, international division, general banking operations, human resources development including commendable exposure in branch banking and financial administration.

News: Daily Sun/Bangladesh/02-Nov-12

Dutch-Bangla Bank Limited (DBBL) donated Tk 7 million for constructing a building for Sholakuri College at Modhupur in Tangail recently.

KS Tabrez, Managing Director of the bank handed over a cheque for Tk 7 million to Yeakub Ali, Chairman, Organising Committee of Sholakuri College at the bank's head office in Dhaka recently, said a press release Wednesday.

News: Daily Sun/Bangladesh/02-Nov-12

  DHAKA: Deposits in banks marked about 20 percent rise in the past one year, thanks to the central bank’s policy support that encouraged savings, remittance inflow and discouraged unnecessary spending on credit.

Data released by the Bangladesh Bank (BB) showed that the total deposit in the banking sector in September soared to taka 5,01,260.08 crore, which was 19.69 percent higher than the deposit of taka 4,29,985 crore in the corresponding period last year.

“The deposit increased due mainly to effective monitoring on banking sector, flexible monetary policy and new loan rescheduling guideline,” BB’s executive director SM Moniruzzaman told BSS.

He also attributed the achievements to the banks for their inclusive financial activities like agro-financing, SME financing and lending to women entrepreneurs and eco-friendly projects.

The central banker explained that the inclusive financing made loan recovery easier and faster than the lending to the usual credit portfolios of banks such as trade financing and financing to urban projects.

Vice chairman of the Association of Bankers, Bangladesh (ABB) and managing director of Pubali Bank Helal Ahmed Chowdhury said higher inflow of remittance coupled with lower import of food items and declining inflation stabilized the liquidity positions in banks.

The deposit in private bank was taka 3,19,653.95 crore at the end of September when it was taka 1,25,393.58 crore in four state-owned commercial banks and was taka 23,864 crore in four specialized banks in public sector. —BSS

News: Daily Sun/Bangladesh/02-Nov-12

Al-Arafah Islami Bank Limited signed a Memorandum of Understanding (MoU) with Millennium Information Solution Limited at the board room of the bank in Dhaka recently.

Ekramul Hoque, Managing Director of Al-Arafah Islami Bank and Mahmud Hossain, Managing Director of Millennium Information Solution signed the MoU on behalf of their respective sides.

News: Daily Sun/Bangladesh/02-Nov-12