Eminent banker Md. Fariduddin Ahmed has been appointed as adviser of Exim Bank Limited.

Prior to his new assignment, he was Managing Director and CEO of the same bank, said a press release Saturday.

Md. Fariduddin Ahmed started his banking career in Sonali Bank as Probationary Officer in 1977. He joined Islami Bank Bangladesh Limited on the date of its establishment on August 30, 1983 as Manager and held the position of Managing Director and CEO before retirement from that bank.

Ahmed visited many countries including USA, UK, KSA, China, Hong Kong, Thailand, Macau, Iran, UAE, Qatar, Bahrain, Pakistan, Singapore, Indonesia, India, Nigeria, Switzerland, France, Germany, Japan.

The Daily Sun/Bangladesh/ 29th July 2012

PARIS: The International Monetary Fund warned yesterday that the Spanish recession would be worse than initially expected, with a forecast contraction of 1.7 percent this year and of 1.2 percent in 2013.

In addition, the IMF said that worsening market tension could disrupt Spain’s ability to finance itself, despite a eurozone bailout agreed for Spanish banks and emergency financial reforms for the 17-nation bloc.

“Market tensions could intensify further, threatening market access, particularly if policies fail to stem capital outflows or due to further stress elsewhere in the euro area,” the IMF said in a report on the eurozone’s fourth biggest economy.

The Daily Sun/Bangladesh/ 29th July 2012

MUMBAI: ICICI Bank Friday posted a 36 percent rise in net profit at Rs.1,815 crore for the quarter ended June 30 on strong loan growth and improving asset quality.

The country’s largest private lender had posted a net profit of Rs.1,332 crore during the like period of the previous financial year, the bank said in a statement.

The total income stood at Rs.11,425.6 crore during the quarter under review against Rs.9,261.4 crore during the year-ago period, it added.

The bank’s net non-performing asset ratio decreased to 0.61 percent at June 30, 2012 from 0.91 percent at June 30, 2011.

The advances increased 22 percent year-on-year to Rs. 2,68,430 crore during the period under review from Rs.2,20,693 crore during the year-ago period.

The Daily Sun/Bangladesh/ 29th July 2012

Banamali Bhowmik, Deputy Commissioner of Kushtia, Syed Abdullah Mohammad Saleh, Deputy Managing Director of IBBL, seen at a function at Kumarkhali Branch premises of IBBL recently.

Islami Bank Bangladesh Limited organised an SME cluster conference with investment clients of weaving sector at Kumarkhali Branch premises recently.

Banamali Bhowmik, Deputy Commissioner, Kushtia attended the function as chief guest, said a press release Saturday.

Syed Abdullah Mohammad Saleh, Deputy Managing Director of IBBL presided over the programme.

Sukomal Singha Chowdhury, Director General and SM Mohsin Hossain, Joint Director of Bangladesh Bank, AAM Habibur Rahman, Executive Vice President and Head of Rajshahi Zone spoke at the function.

The Daily Sun/Bangladesh/ 29th July 2012

Sybase 365, a subsidiary of Sybase, Inc, and Dutch-Bangla Bank Limited (DBBL), were given the “Best Mobile Banking Initiative Award” at The Asian Banker Technology Implemen-tation Awards 2012.

Sybase 365, a mobile banking platform, was implemented in Bangladesh through a deal with DBBL. With this, DBBL customers can now manage their money via their mobile phones which are far more ubiquitous in rural areas than ATMs.

The phones serve as ‘mobile wallets’ enabling customers to withdraw and deposit money and access other banking services from anywhere, according to a message received here Saturday.

Prior to the imple-mentation of mobile banking, Bangladesh’s banking population predominantly relied on ATMs for their banking needs, when a terminal could be accessed.

“Since our launch in 2011, DBBL Mobile Banking has won numerous awards, including the National Digital Innovation Award in Bangladesh, MMT Awards in Dubai for ‘Best Mobile Banking Programme of the World’, and the eAsia Award in Dhaka for best ‘Driving Economy’.

This recognition at the Asian Banker Technology Implementation Awards is another great achievement for DBBL and Sybase 365,” said Abul Kashem Md. Shirin, Deputy Managing Director, Dutch-Bangla Bank.

The Daily Sun/Bangladesh/ 29th July 2012