Prime Bank Limited signed a license agreement with Japan Credit Bureau (JCB) International Co Ltd at a hotel in the capital on Tuesday. Under the agreement, Prime Bank will be able to issue and acquire JCB cards in Bangladesh. Md Ehsan Khasru, managing director and chief executive officer of Prime Bank, and Hiroshi Terade, executive vice president of JCB, signed the agreement.

Khasru said, “It is a great moment for Prime Bank to begin journey with JCB along with its new brand.”
Hiroshi said the product will reach market by November.   JCB is a major international payment system dominating the credit card market in Japan. JCB issues cards in 17 countries around the globe.

The Daily Independent/Bangladesh/ 19th July 2012

Kanak Kumar Purkayastha, Deputy Managing Director of BASIC Bank, speaks at a workshop on money laundering at REB conference room in Gopalganj Wednesday.

BASIC Bank Limited organised a day-long training workshop on "Prevention of Money Laundering and Combating Financing of Terrorism" for its branch managers at REB conference room in Gopalgonj.

AKM Ehsan, Joint Director, BFIU, conducted the training workshop, said a press release Wednesday.

AKM Nurunnabi, Deputy Director, BFIU and Asoke Bandhu Das, In-charge, Training Cell of BASIC Bank, Kanak Kumar Purkayastha, Deputy Managing Director and Chief Anti Money Laundering Compliance Officer of the Bank attended the programme.

The Daily Sun/Bangladesh/ 19th July 2012

In order to provide fund to Padma Bridge project, Bangladesh Bank will particularly try to build a strong foreign exchange reserve, said Governor Dr. Atiur Rahman.

“We always help government by financing imports of agriculture inputs and petroleum products. In the case of Padma bridge, it is nothing different,” the central bank governor said.

He said Bangladesh Bank would help the government meet import costs related with the project, if needed.

Dr Rahman was replying to the journalists’ queries after announcing monetary policy statement for first half of current fiscal.

Earlier, Prime Minister Sheikh Hasina announced to construct Padma Bridge by local financing, after the World Bank rejected $1.2 billion loan deal fearing corruption.

She told the parliament that the government would use from foreign currency reserve, if necessary, to import construction materials for the bridge.

The Daily Sun/Bangladesh/ 19th July 2012

The central bank Wednesday dismissed the involvement in HSBC bank scandal of terrorism financing and money laundering by two local banks saying that “It was an old issue as instantly the authority concerned took regulatory actions at that time.”

“It was an old issue as it took places between 2005 and 2007. Bangladesh Bank (BB) already enforced regulatory actions in this regard,” said Deputy Governor SK Sur Chowdhury.

Chowdhury was replying to queries from reporters on involvement of the banks in money laundering activities jointly with the HSBC bank.

SK Sur Chowdhury attended a function organised by the central bank at its office to announce the new monetary policy for July-December period of the financial year (FY) 2012-13.

A US Senate Permanent Subcommittee on Investigations report suspected the two banks to have involvement in transacting funds for terrorist organisations, which got media coverage since Monday last.

The report is the result of an investigation on London-based HSBC Holdings PLC by the US subcommittee.

Chowdhury said the central bank keeps constant eyes on day-to-day banking activities in the entire banking sector in order to check illegal acts.

He said there is no such allegation against Bangladesh’s banking sector right now as we are very-much watchful on banks’ daily transactions.

“However, we are examining the US senate report and we will take actions if there is any current issue,” he said.

The BB high official said the central bank has reconstituted the Bangladesh Financial Intelligence Unit (BFIU) and posted highly skilled manpower in the department to carry out investigations in banks on money laundering and terror financing, if there is any.

“Our BFIU is now of global standards and the law is stringent than the previous one,” he said.

Governor Dr Atiur Rahman supplemented by saying that the US senate report has already mentioned that the regulatory actions against two local banks were taken that time.

“However, we would intervene if necessary,” Dr Rahman said.

He said the banking sector of the country was saved from the impact of global economic meltdown only because of rightful initiatives of the central bank.

The BB authority lays due emphasis on financial intelligence, he added.

He said the capacity of BFIU was strengthened over the past few years. “We will install latest software for use of BFIU soon,” he added.

Meanwhile, commenting on the issue, IBBL managing director Mohammad Abdul Mannan said that his bank has no link with money laundering or terrorism financing.

“There is no correlation between IBBL and HSBC regarding any such transaction, as it was mentioned by different media,” Mannan told daily sun.

He said the things the senate report identified was the sponsorship of Al Raji Foundation to IBBL. “I would say the sponsorship was given to them (Al Raji Foundation) after fulfilling the regulatory requirements and Bangladesh Bank and the Securities and Exchange Commission knew it,” he said.

The Daily Sun/Bangladesh/ 19th July 2012

Steve Ball

Steve Ball has recently been appointed as the chief financial officer of HSBC, Bangladesh, according to a statement of the bank yesterday.

Since joining the HSBC Group in 2007, Ball worked in group management reporting, covering North America, before being selected for the group's International Finance Manager programme.

A UK-qualified professional accountant, he also holds a bachelor degree in modern Chinese studies.

Commenting on Ball's appointment, HSBC Bangladesh CEO Andrew Tilke said: "It is a privilege for us to have someone of Steve's calibre and experience in the bank's leadership team in Bangladesh.

"I am confident that, with his broad range of global financial experience, Steve will contribute significantly in the HSBC's endeavour to grow and excel as the leading international bank."

Steve Ball replaces Nayeem R Choudhury who joined HSBC Group's IFM programme and moved to HSBC Oman as chief financial officer.

The Daily Star/Bangladesh/ 19th July 2012