Banking
Pubali to provide Tk 100m term loan to IIDFC
Mohiuddin Ahmed, General Manager of Pubali Bank, and Md Asaduzzaman Khan, Managing Director of IIDFC Limited, exchange documents after signing an agreement in Dhaka recently.
Pubali Bank Limited (PBL) will provide term loan of Tk 100 million to Industrial and Infrastructure Development Finance Company (IIDFC) Limited for business expansion of the company.
An agreement between PBL and IIDFC Limited was signed at the Bank’s head office in Dhaka recently, said a press release.
Mohiuddin Ahmed, General Manager of principal branch of PBL and Md Asaduzzaman Khan, Managing Director of IIDFC Limited signed the agreement on behalf of their respective organisations at a simple ceremony in the capital.
PBL sanctioned this term loan for five years. PBL Managing Director Helal Ahmed Chowdhury was also present on the occasion.
News: The Daily Sun/Bangladesh/05-Sep-12
WB to assist entrepreneurs in boosting rural economy
ABM Khorshed Alam, Managing Director of SME Foundation, speaks at a meeting with World Bank trade delegation at his office in Dhaka Tuesday.
The World Bank (WB) has expressed interest to work with the SME Foundation for ensuring overall development of the rural economy by extending cooperation to entrepreneurs in the grassroots levels.
A four-member WB delegation expressed this desire while exchanging views with ABM Khorshed Alam, Managing Director of SME Foundation, at the latter’s office in Dhaka Tuesday.
Imtiaz Uddin Ahmed, Senior Sustainable Development Adviser of Water and Sanitaion Programme of the WB in Dhaka led the delegation while Abdul Motaleb, WB’s Senior Water and Sanitation Specialist, Dr Tanvir Ahsan, Director of Debcon and Md Abul Kashem, Managing Director of ACS International attended the meeting.
Imtiaz Uddin Ahmed said, the global lender, with collaboration of private entrepreneurs, will take an initiative to supply pure drinking water to the rural people through setting pipelines.
Besides, it will take a programme to create new entrepreneurs in the field of sanitation by inspiring them about effective utilisation of modern technology in the sanitary system, Ahmed said.
Moreover, the WB delegation made proposals on how it could help entrepreneurs, on behalf of the SME Foundation, in adopting updated technology, availing loans and also incorporating water and sanitation services as SME booster sector in the SME Policy.
ABM Khorshed Alam, Managing Director of SME Foundation, informed the WB team that the present government has taken some important steps for ensuring better water and sanitation services in the country.
The Foundation, in the next few years, would create hundreds of trainers skilled in water and sanitary issues, each of whom in turn would train at least ten persons in their locality for providing necessary assistance to the entrepreneurs for ensuring a sustainable progress in the field, he said.
The Foundation is committed to work together with all stakeholders for the sake of national development, economic growth, massive employment and women empowerment through expanding SME sector, he continued.
News: The Daily Sun/Bangladesh/05-Sep-12
PBL opens branch in Faridpur
Quazi Sirazul Islam, Director of PBL, inaugurates the 121st branch of the Bank at Boalmari in Faridpur Monday.
Prime Bank Limited (PBL) opened its 121st branch at Boalmari in Faridpur Monday.
Quazi Sirazul Islam, Director of the Bank, inaugurated the branch as the chief guest, said a press release.
Md Ehsan Khasru, Managing Director and CEO of the Bank, presided over the function while Ahmed Kamal Khan Chowdhury, Deputy Managing Director, delivered the welcome speech.
News: The Daily Sun/Bangladesh/05-Sep-12
Banks asked to cooperate with genuine parties
Bangladesh Bank (BB) on Tuesday asked all the banks to cooperate with genuine exporters and suppliers by buying Internal Bill Purchase (IBP) of both local and foreign currencies.
The IBP, a tool for external trade, includes the information of the carriers and shippers and acts as a carriage contract agreement.
“We have noticed that some genuine exporters and suppliers are facing problem though the central bank issued proper guideline for banks to buy IBP after examine those properly,” a BB directive said.
The directive was issued against the backdrop of Hallmark scam that made many bankers extra cautious in buying the IBP. Businessmen including apparels exporters recently complained that they were facing problem with some banks in opening back-to- back letter of credits (LCs).
The central bank in its directive said all the authorized dealers are now equipped with modern information technology, which they could use to contact with their head offices faster then ever to take quicker decisions.
News: The Daily Sun/Bangladesh/05-Sep-12
Standard Bank board meets
Kazi Akram Uddin Ahmed, Chairman of Standard Bank, presides over the 197th board meeting of the Bank in Dhaka Monday.
The 197th Board meeting of Standard Bank Ltd was held at the Bank’s head office Monday.
Kazi Akram Uddin Ahmed, Chairman of the Board presided over the meeting, said a press release.
Al-haj Md Yousuf Chowdhury, Vice Chairman, SA Farooqui, Managing Director, Md. Nazmus Salehin, AMD and AFM Nizamul Islam Chowdhury, Company Secretary, Alhaj Moha- mmad Shamsul Alam, Abdul Ahad, Md. Zahidul Haque, Md. Faikuzzaman and Sahazada Syed Nizamuddin Ahmed, directors were also present in the meeting.
News: The Daily Sun/Bangladesh/04-Sep-12