D.Net, an information based NGO, has launched a special service named Info-lady. These ladies will get loan with easy terms. National Bank Ltd (NBL) is to provide finance at easy conditions to these ladies (Tathyakallani) so that they could smoothly serve and expand services for the rural people, using information technology. Equipped with modern technology, such as a net book, internet modem, headphone, web cam, digital camera, mobile phone, weight measurement machine, blood pressure machine, pregnancy and sugar test kit, an info-lady is providing about 20 services to the rural people, including health, medicine and education.

D.Net Info-lady is a modern self-depended profession for educated rural women folks.
In this context, a tripartite Memorandum of Understanding (MoU) has been signed among D.Net, NBL and Fair Price International (Pvt.) Ltd.

On behalf of the respective organisations, Md Badiul Alam, additional managing director of NBL, Dr Ananya Raihan, chairman of D.Net, and Urmi Lohani, managing director of Fair Price International, signed the MoU.
Under the agreement, NBL with the support of Bangladesh Bank will provide finance to the info-lady.

The Info-lady financing ceremony was held at Ruposhi Bangla Hotel in the city on Wednesday.
NBL chairman Parveen Haque Sikder presided over the singing ceremony while Dr Atiur Rahman, governor of Bangladesh Bank (BB), attended as the chief guest and Shaheen Anam, executive director of Manusher Jonno Foundation, was the special guest.

Among others, Mosharrof Hossain, deputy director of D.Net, Zainul Abedin, chairman of Fair Price International (Pvt) Ltd, Sukamal Sinha Choudhury, general manager of BB, NBL’s deputy managing directors A K M Shafiqur Rahman and Nazib Uddin Bhuiyan, and infolady Shathi Akhter spoke at the event.

“The country’s women are lagging behind while getting loans. It is necessary to bring them into the country’s main economic stream for sustainable economic development. That is why the central bank has given priority to the women entrepreneurs,” Atiur Rahman, the BB Governor said. To ensure easy credit for the women entrepreneurs, he said the BB has allocated at least 15 per cent of the SME re-financing schemes for them.

The country’s banks and financial institutions disbursed a total of Tk 1,805 crore credit to 13,831 women
entrepreneurs in 2010 and Tk 2048 crore credit to 16,697 women entrepreneurs in 2011, he said.

As of May 2012, the central bank Governor said about 5,008 women entrepreneurs received about Tk 381 crore worth of credits under the BB’s re-financing scheme.
D.Net chairman Dr Ananya Raihan said, “The Info-lady project will create self-employment opportunity for 15,000 educated rural women by 2016.”

To become self-depended, each info-lady have to invest Tk 1 to 1.5 lakh, he said and added that about Tk 275 crore would be needed for the Info-lady project.

Shaheen Anam, executive director of Manusher Jonno Foundation, said this project is a win-wing project as it is not only empowering the rural women but also changing the people’s mindsets towards the women.

While sharing her experiences an info-lady, Shathi Akhter from Gaibandha district said, “I grew up struggling with poverty. I had not enough money to carry out my studies. After passing my HSC examination, I started to work as an info-lady. Now, I am able to earn Tk 12,000 to Tk 18,000 a month.”

The Daily Independent/Bangladesh/ 4th July 2012

Khondoker Fazle Rashid

Setting examples of wide-spread and modern banking service, Dhaka Bank Ltd (DBL) celebrates 17th founding anniversary today.

There were many obstacles on the way since July 1985, but it established a firm position in the banking sector today and played a significant role in developing economy.

The bank has made big contribution to GDP growth and employment generation.

On the eve of the bank’s 17 years celebration, managing director of DBL Khondoker Fazle Rashid talked to daily sun.

While sharing his feelings, Fazle Rashid articulated: “DBL has always been with the customers and will continue to work being even closer to them.”

He said the bank is not only the friend of good days but also a true friend during bad time.

“It any of our clients fall in trouble, we always stand by them.”

MD of DBL said the bank plans to introduce some new and innovative services marking the founding anniversary.

“We want to bring something really unique. We also emphasise novelty in SME banking, green banking and women entrepreneurship. Our clients can enjoy new innovative services by end of this year.”

“Relationship beyond Banking” is the theme of the 17th anniversary of the bank.

Fazle Rashid explained the bank’s policy is to develop a long-term relationship with the customers by going beyond simply banking services.

“Corporate social responsibility is an important part of our work which we want to perform with our customers for the human wellbeing.”

DBL stresses institutional development rather an individual.

MD said many individuals could be benefited from institutional development.

He credited the bank’s success to the combined and cordial efforts of shareholders, customers, employees and officers of the bank.

Presently, the bank has 67 branches, 35 ATM booths with 24 hour cash withdrawal facility, three SME service centres, one offshore banking unit and six branches of DBL Securities across the country.

The services are being provided by a large group of over 2000 employees.

According to own figures, DBL in 2011 had an authorised capital of Tk 10 billion, paid up capital 3.59 billion, loans and advances Tk 75.983 billion, investments Tk 9.58 billion, fixed assets Tk 1.703 billion, import business Tk 71.38 billion and export business Tk 46.25 billion.

The Daily Sun/Bangladesh/ 5th July 2012

Engr. Mustafa Anwar, Vice Chairman of Islami Bank Bangladesh Limited, inaugurates an ATM booth at Rupnagar, Pallabi in Dhaka Tuesday.

Islami Bank Bangladesh Limited (IBBL) inaugurated an ATM booth at Rupnagar, Pallabi in Dhaka Tuesday.

Engr. Mustafa Anwar, Vice Chairman of the bank inaugurated the booth as the chief guest, said press release.

Engr. Mustafa Anwar said that, IBBL is providing modern banking services to its clients through its largest online banking network.

The clients of the bank can now withdraw money from more than 1200 ATM booths under Omnibus network, he added.

Md Abul Bashar, Deputy Managing Direc-tor, Md. Kabir Hossain, Executive Vice President, Md. Mosha-rraf Hossain, Executive Vice President and Md. Kamrul Bari Emami, head of Pallabi Branch were present on the occasion.

The Daily Sun/Bangladesh/ 5th July 2012

The government’s borrowing from the banking system crossed Tk 225 billion during the just-ended financial year, according to data available from the Bangladesh Bank (BB).

The amount that the government borrowed till June 28, 2012 is much higher than the original target of Tk 189 billion set for FY 12, but less than the new limit of Tk 291 billion as it was revised by 45 percent in last April.

Sources said, the government is likely to borrow more funds in the current week for meeting budget deficit.

As per the latest development, the government is, so far, burdened with Tk 945 billion loans that it borrowed from the banking sector in different tenures over the years.

A top official of a state-owned commercial bank said the unprecedented rise in government’s borrowing was mainly because of cash supports to some agencies like Bangladesh Petroleum Corporation, Bangladesh Chemical Industries Corporation and Bangladesh Agriculture Development Corporation.

The borrowed funds were utilised for financing the budget deficit and meeting the import costs of those state-owned agencies, he added.

The sources said the government borrowed from the central bank, four state-owned commercial banks, twelve primary dealers (PD) banks and three non-banking financial institutions.

“All of them are now reeling under acute liquidity crisis as they purchased a large number of securities (Treasury Bills and Bonds) from the government costing huge amounts,” said the official, seeking anonymity.

The government was severely criticised by various quarters throughout the year for borrowing such a huge fund.

Economists opposed government’s strategy of high borrowing from the banking system as it has crowded out banks’ lending capacity to the private sector. They said scarcity of funds will be crucial for growth of domestic production.

In April this year, the International Monetary Fund (IMF) suggested the government for lessening the borrowing from banks. It also urged the central bank not to create excess money, which is the principal component to fuel inflation.

The lending agency officials, during a recent visit to Dhaka, had also urged the government not to run the fiscal and monetary policies separately.

They held the inconsistency between the fiscal and monetary policies responsible for high borrowing from the banking system.

“Fiscal and monetary policies should be consistent with one another,” IMF official David Cowen told reporters at a press seminar in Dhaka in April last.

It also urged the government to accelerate the efforts made for unlocking the external aid commitments, which remains in a deadlock between the government and the donor agencies because of alleged corruption in Padma Bridge construction project.

The Daily Sun/Bangladesh/ 5th July 2012

New World Bank President Jim Yong Kim warned Monday that the eurozone crisis poses a deep threat to the global economy as he launched into his first day leading the development lender. The Korean-American physician, who won a contest against developing country candidates in April to run the bank, said the world's economy "remains highly vulnerable." The World Bank has "an economic and moral imperative to help address risks to global growth, no matter where they emerge," he said.

"A strong global economy benefits all countries; a weak global economy makes all countries vulnerable.
"It is urgent that European countries take all necessary measures to restore stability because their actions will impact growth in all regions of the world.

Kim -- a global health expert who contrasts with the bankers and diplomats that Washington has named to run the bank in the past -- pledged to stick to the mission of helping the poorest countries get on their feet.
He gave no hint of any changes to the work of his predecessor, Robert Zoellick.

"I'm humbled and inspired to take over today as president," Kim said at the doorstep of the Washington-based global development lender Monday morning.
"I can't wait to get started."

"I've spent most of my adult life working in some of the poorest communities in the world."

He said the bank will continue to operate "with innovation, with analytic rigor and with great passion, working in partnership with governments, with civil society organizations, with the private sector, and most importantly with the people living in poverty we aspire to serve."

But it was "a pivotal moment" with the eurozone crisis and economic slowdown in the largest countries impacting small, vulnerable economies around the world.

"I will work with our clients and partners to ensure that we are creating a new economic firewall: one that protects people in developing countries against shocks."

"I know from my work in poor communities around the world that, when a crisis hits, and no safety net is in place, the effects can be devastating."

The Daily Independent/Bangladesh/ 4th July 2012