LONDON: Standard Chartered Plc's shares fell as much as 20 percent on Tuesday after New York's top bank regulator threatened to remove its state banking license, saying the British lender hid $250 billion in transactions tied to Iran. The New York State Department of Financial Services (DFS) said on Monday that Standard Chartered "schemed" with the Iranian government and hid from law enforcement officials some 60,000 secret transactions to generate hundreds of millions of dollars in fees over nearly 10 years.

The British bank, which the regulator called a "rogue institution" also exposed the US banking system to terrorists, drug traffickers and corrupt states, the DFS said.

London-based Standard Chartered was surprised by the statement, even though it has been in talks with US regulators over the matter for years. Its shares were 18.4 percent lower at 12.00 pounds on Tuesday.

The shares had already fallen 6.2 percent on Monday, sliding on the close just as the news emerged.

The regulator's move is a savage blow to Standard Chartered, which has been one of the banks least tarnished during the financial crisis thanks to its focus on Asia and other emerging markets and a conservative capital and liquidity approach.

A top 40 investor in the British bank said he did not expect it to be a lasting problem given the bank's robust defense, but added: "Given that the shares are not especially cheap, particularly in relative terms, it may be the shares remain in the doldrums for a while now that their blameless reputation has suffered a knock." Standard Chartered said the bank "does not believe the order issued by the DFS presents a full and accurate picture of the facts."

The Daily Sun/Bangladesh/  8th Aug 2012

Bangladesh Bank (BB) will release new notes of Tk 20 denomination from today.

The new Tk 20-note imprinted with Banga-bandhu Sheikh Mujibur Rahman will be released today from Bangladesh Bank’s Motijheel central office, said a press release.

Later, the note will be available in all other branches of the Bangladesh Bank and the scheduled banks.

The new note is being released to evade confusion between the current Tk 20 and Tk 500 notes as there are some similarities in colour and sizes among the two different notes.

With the portrait of Bangabandhu Sheikh Mujibur Rahman on one side the new Tk 20-note will be imprinted with a drawing of Shatgambuz Masjid of Bagerhat on the other side.

The Daily Sun/Bangladesh/  8th Aug 2012

Alhaj Anwer Hossain Khan, Chairman of the Board of SIBL, presides over a meeting at Officers Club in Dhaka Sunday.

Shahjalal Islami Bank Limited (SIBL) organised a meeting on “Mahe Ramadan” and Iftar Mehfil at Officers Club in Dhaka Sunday.

Alhaj Anwer Hossain Khan, Chairman of the Board of Directors of the Bank, presided over the meeting, said a press release.

Hamidur Rahm-an, Assistant Professor of International Islam-ic University of Technology (IIUT) and member of Shariah Supervisory Committee of Shahjalal Islami Bank Limited, attended the meeting.

Alhaj Khandoker Sakib Ahmed, Vice Chairman, Alhaj Engineer Md Towhidur Rahman, Alhaj Mohammed Solaiman, former chairmen, Alhaj Mohammad Hasan, Alhaj Tofazzal Hossain, Directors were present.

The Daily Sun/Bangladesh/  7th Aug 2012

 A five-day long training course on "Agricultural and Rural Banking" concluded in the city recently.

Bangladesh Institute of Bank Management (BIBM) conducted the training course, said a press release.

A total of 21 officers from different banks and financial institutions took part in the training course.

BIBM organised the course to make aware the participants about the present status of agriculture and rural banking and to emphasise the importance of institutional credit facilities for the overall development of rural and agricultural sectors.

The Daily Sun/Bangladesh/  7th Aug 2012

The Bangladesh bank (BB) has asked all banks to remain open on August 18 (Saturday) to facilitate trade and commerce.

The department of offsite supervision of the central bank issued a circular in this effect on Monday.

The Daily Sun/Bangladesh/  7th Aug 2012