Bangladesh Bank Governor Dr Atiur Rahman speaks at a seminar on ‘Green banking, mobile banking and corporate responsibility’ at BB head office in Dhaka Tuesday.

Bangladesh Bank (BB) Governor Dr Atiur Rahman warned that if the banks fail to introduce mobile banking service within the set time then their licences for the service will be cancelled.

Calling upon the mobile operators of the country to provide necessary help to the banks in this regard, he said, “You have to abide by the laws to do business in the country.”

The BB governor was speaking at a seminar as the chief guest organised on ‘green banking, mobile banking and corporate responsibility’ Tuesday in the capital.

The BB governor said, “Until now, some 23 banks have been given licences to introduce mobile banking. Of them, 14 banks have already started the service. If the other approved banks fail to start the service within the set time, then their approvals will be cancelled and given to other banks. No new approval will be issued in next three years, if needed.”

Chief executives of different scheduled banks, BB deputy governors SK Sur Chowdhury and Begum Naznin Sultana, BB executive directors and senior officials attended the seminar.

In the seminar, chief executives of scheduled banks alleged that the telecom companies are not helping the banks to introduce mobile banking. All the leading mobile operators are acting similarly. They are not coming forward.

Responding to their allegations the BB governor angrily said, “If you want to do business in the country you have to abide by the rules. They will have to come forward.”

Atiur said, “Our mobile banking has to expand more to ensure inclusive growth. There are 40 million people in the country who need to be brought under mobile banking. Economy of the country will advance immensely if new 40 million people are brought under banking service.

News: The Daily Sun/Bangladesh/3rd-Oct-12

KAM Majedur Rahman, Managing Director of Premier Bank, and Desmond Quiah, Country Manager of DHL World-wide Express Bd Limited, exchange documents after signing an agreement in Dhaka recently.

Premier Bank Limited has signed an agreement with DHL World-wide Express Bd Limited on sending officials documents.

KAM Majedur Rahman, Managing Director of Premier Bank and Desmond Quiah, Country Manager of DHL World-wide Express Bd Limited signed the agreement in Dhaka recently, said a press release.

News: The Daily Sun/Bangladesh/2nd-Oct-12

The flow of remittance into the country marked a steady growth in September, though the month is considered to be the lean season, according to official statistics. From 1st to 28th September, expatriate Bangladeshis have remitted $ 1.05 billion (Tk 82 billion) in the country from different destinations across the world, the Bangladesh bank (BB) data shows.

Central bank sources said the flow of remittance remained slow in the month of September during last couple of years but it has showed a remarkable rise this year.

According to the BB data, the country’s receipts as remittance were $ 855.44 million and $ 837.71 million in the single-month of September in the calendar years 2010 and 2011 respectively.

In July and August 2012, the remittances that entered into the country were $ 1201.15 million and $ 1167.84 millions, the BB data shows.

News: The Daily Sun/Bangladesh/2nd-Oct-12

Bangladesh Bank (BB) will raise the flat-rate premium by 0.01 to 0.02 percent for deposit insurance to minimise the risk connected to the loss of depositors’ funds with the scheduled banks, officials of Banking Division under the finance ministry said.

“The Banking Division has already given its consent on the hike in premium rate under the deposit insurance trust fund” said a senior official of the finance ministry’s wing. He also said the central bank will announce the new premium rate soon.

As per a proposal, BB will raise premium rate on deposit insurance by the state-owned commercial banks, non-banking financial institution, and private commercial banks including those under the early warning system and problem banks category. The banks that are now under an early warning system will have to pay such premium at 9 paisa per Tk 100 deposited, which was earlier 7 paisa, according to the BB proposal.

The amount payable as premium for the problem banks will be 10 paisa instead of 9 paisa and 8 paisa for other banks, which was previously 7 paisa. Deposit insurance system was first introduced in Bangladesh in August 1984 aiming to minimise the risk of loss of money deposited with banks.

The Deposit Insurance Act 2000 says in case of an insured bank’s collapse or bankruptcy, BB shall pay an amount equal to the money of each depositor of that bank. However this amount will not exceed Tk 200,000, which was earlier Tk 100,000. As per provisions of the law, the premiums collected from the insured banks are deposited in an account called the Deposit Insurance Trust Fund, maintained by the central bank.

News: The Daily Sun/Bangladesh/2nd-Oct-12

Stocks returned to the black yesterday, breaking a three-day losing streak, as investors took fresh position in the market amid optimism.

DGEN, the benchmark general index of Dhaka Stock Exchange, finished the day at 4,589.33 points, after surging of 44.93 points or 0.98 percent.

The market gauge slipped 53 points within 10 minutes of the opening hour of trading. Turnover on the DSE floor rose 0.19 percent to Tk 783 crore than the previous day.

A total of 1.72 lakh trades were executed with 21.18 crore shares and mutual fund units changed hands on the Dhaka bourse.

“A total of 34 companies generated more than 7 percent gain. Top 20 traded stocks dominated the market activity. Top 20 traded companies had a total turnover of Tk 377 crore, which is equivalent to 48 percent of the day's total turnover,” said LankaBangla Securities, a leading stockbroker.

Of the 274 issues that traded on the DSE, 215 advanced, 53 declined and six remained unchanged.

Among the major sectors, banks gained the most, went up 1.87 percent followed by telecom 1.37 percent, non-bank financial institutions 0.61 percent and pharma 0.25 percent.

United Airways topped the turnover leader for the third day with 3.20 crore shares worth Tk 100.6 crore changed hands on the premier bourse.

RN Spinning Mills and Bangladesh Submarine Cable Company were the next popular stocks of the day.

CMC Kamal was the biggest gainer of the day, posted a 10 percent rise while Delta Spinners was the worst loser, slumping by 7.14 percent.

News: The Daily Star/Bangladesh/2nd-Oct-12