Banking
Trust Bank disburses Tk 30m loans to weaving cluster
Trust Bank disbursed Tk 30 million loans on spot for weaving cluster at Sirajganj Saturday.
Dr. Atiur Rahman, Governor of Bangladesh Bank was present at the function as the chief guest while Managing Director of Trust Bank Shah A Sarwar presided over the programme at Shaheed M. Mansur Ali auditorium, Sirajganj.
An amount of Tk 30 million was disbursed among 220 micro entrepreneurs under the mode of group financing.
Sukomol Sinha Chowdhury, GM, SME of Bangladesh Bank, TIM Rawshan Zadeed, Head of SME, Trust Bank, Cluster Manager Motaleb Patwary, SM Mahbub Hasan, Manager, KYAMCH branch, MA Matin, Representative of EDCL were present.
The Daily Sun/Bangladesh/ 16th July 2012
RMG exporters to reschedule loans without downpayment
Bangladesh Bank (BB) will allow rescheduling of loans without down-payment for apparel exports, especially stock-lots caused by non-shipment of goods or cancellation of export orders, BB Governor Dr Atiur Rahman said Sunday.
“Apparel exporters will enjoy loan rescheduling without down-payment if the non-repayment was genuinely caused from stock lots,” Dr Atiur Rahman told daily sun.
Besides, the regulator would also relax the rules on loan rescheduling considering the national priority on the basis of individual case study, the governor said.
The central bank last month asked the banks to enforce the new rules on classification, provisioning and rescheduling of term-loans with a provision of allowing maximum three-time rescheduling of a term-loan with effect from July 1.
The new rules had panicked the apparel exporters who pursued the central bank authority for not enforcing such tightened rules that reduced the time-limit by three-month for classification, provisioning and rescheduling.
According to new rules, non-repayment period against a term-loan for more than two months will be treated a specially mentioned account (SMA) and the non-repayment period between 3-6 months will be classified as substandard. If the non-repayment period is more than six months, it will be treated as default loan.
Atiur said the central bank inspectors will monitor the supervisory activities of banks regarding the loan classification, provisioning and rescheduling as per the new rules.
The governor also asked all the banks and financial institutions to strengthen respective supervisory strength in this regard.
He said banks must follow the provisioning of respective capital in accordance with the new rules.
“It was necessitated because of adopting internal best practices by banks so that the country’s banking sector become stable,” he said.
The Daily Sun/Bangladesh/ 16th July 2012
BB releases new Tk 50 banknote
Bangladesh Bank yesterday released a new banknote of Tk 50 denomination with the portrait of Bangabandhu Sheikh Mujibur Rahman in it, the central bank said in a statement.
On the back of the banknote, 'Moi Deya' Jolrong, Shilpacharya Zainul Abedin will be written in place of 'Moi Deya' Jol Rong Chitro, Shilpi Zainul Abedin, Bangladesh Bank said.
All other security features of the banknote remain unaltered, it said.
The Daily Star/Bangladesh/ 16th July 2012
Bank Asia, inaugurates 68th branch on Elephant Road in Dhaka
Deutsche Bank says it will cooperate in rate probe
Deutsche Bank may escape with a lighter penalty than other banks in Europe if investigators impose fines in the wake of an interest rate-rigging scandal, two sources familiar with the bank told Reuters on Sunday.
They said Deutsche Bank has applied to cooperate with authorities in their investigation under the leniency programmes of the European Union and in Switzerland, but that it did not mean the bank was admitting any guilt.
"The bank last year obtained the status of being a witness for the prosecution in the EU and in Switzerland," one source said.
"As a result of that, the bank could get a lighter penalty if a punishment is imposed," another said.
Deutsche Bank's application under the leniency programme has been approved.
A global investigation into manipulation of interbank lending rates widened two weeks ago with Britain's fraud squad taking up the case.
The Daily Star/Bangladesh/ 16th July 2012