Shaju Hosein, Chairman of Robbar Publications and Md Hashem Chowdhury, Deputy Managing Director of MTB, inaugurate an ATM booth at Ittefaq Moor at 1 RK Mission Road in Dhaka.

Mutual Trust Bank Limited (MTBL) opened an ATM booth at Ittefaq Moor at 1 RK Mission Road in Dhaka.

Shaju Hosein, Chairman of Robbar Publications and Md Hashem Chowdhury, Deputy Managing Director of the Bank, inaugurated the booth recently, said a press release.

Branch managers of MTBL, department staff from corporate head office and local elites were present. Through this booth, the Bank will provide 24 hours banking services to its customers.

The Daily Sun/Bangladesh/ 4th July 2012

The Bangladesh Bank (BB) Monday turned down banks' appeal for extension of timeframe regarding loan classification, provisioning and rescheduling.

The central bank's refusal came after a delegation of the Association of Bankers, Bangladesh (ABB), led by its Chairman Nurul Amin, submitted a proposal to BB Governor Dr. Atiur Rahman for extension of the deadline by at least 1.5 years.

Vice Chairman of ABB and Managing Director of Pubali Bank Ltd Helal Ahmed Chowdhury, Managing Director of Islami Bank BD Ltd Abdul Mannan, and Managing Director of Eastern Bank Ltd Ali Reza Iftekhar were present, among others.

Earlier, the central bank set July 1, 2012 as the deadline for complying with its directive on loan classification, provisioning and rescheduling.

On June 19, the BB said in a clarification that its revised instructions on loan classification and provisioning will come into effect from July 01, instead of June 14.

However, the ABB, according to the decision taken at its recent meeting, requested the BB to extend the deadline up to January 1, 2014.

The Daily Financial Express/Bangladesh/ 3rd July 2012

Tofael Ahmed, MP, inaugurates the 77th branch of Mercantile Bank Limited at Kornophuli Complex on Sadar Road in Bhola.

Mercantile Bank Limited (MBL) recently opened its 77th branch at Kornophuli Complex on Sadar Road in Bhola.

Tofael Ahmed, Member of Parliament, formally inaugurated the branch as the chief guest, said a press release.

Md Abdul Jalil, Chairman of MBL and Member of Parliament, presided over the inaugural function.

The Daily Sun/Bangladesh/ 3rd July 2012

Badlisyah Abdul Ghani, CEO of CIMB Islamic Bank of Malaysia, and Md. Ehsan Khasru, CEO of Prime Bank Limited, seen at an agreement signing ceremony at CIMB Bank Head Office in Kualalumpur recently.

Prime Bank Limited signed an agreement with CIMB Islamic Bank of Malaysia.

Badlisyah Abdul Ghani, CEO of CIMB Islamic Bank of Malaysia and Md. Ehsan Khasru, CEO of Prime Bank Limited attended the ceremony at CIMB Bank Head Office in Kualalumpur recently.

Under the agreement, Prime Bank now became a strategic partner to render remittance service through "CIMB Islamic Money Transfer "from CIMB Bank's global operations.

Anand Kadakol, executive vice president and Naushad Hussain, senior vice president of CIMB Investment Bank Bhd and senior officials of CIMB Group Sdn Bhd attended the ceremony.

Habibur Rahman, senior executive vice president and head of ID, and Mostafa Hassan, CEO of Prime Exchange Co Ltd Singapore (PEC) from Prime Bank Ltd were also present.

The Daily Sun/Bangladesh/ 3rd July 2012

State-run Sonali Bank has proposed the National Board of Revenue (NBR) for exempting it from income tax on a Tk 65.74 billion amortised amount that can be treated as allowable expenses.

Earlier, Sonali Bank amortised its goodwill amount of Tk 65.74 billion for the years 2008, 2009, 2010 and 2011.

Newly appointed Managing Director and CEO Pradip Kumar Dutta sent a letter last week to NBR Chairman Dr Nasir Uddin Ahmed through Banking Division in this regard.

Amortisation means a periodic payment plan to pay a debt or accumulated loss in which the interest and a portion of the principal is included in each payment by an established mathematical formula and the accumulated loss amount is treated as goodwill.

When the country’s largest bank was turned into company in the year 2007, its accumulated losses were estimated at Tk 65.74 billion which was treated as goodwill, said a senior official banking division.

The Daily Sun/Bangladesh/ 3rd July 2012