Dutch-Bangla Bank Ltd (DBBL) and Asiatic Laboratories Ltd have recently signed an agreement on mobile banking services at the DBBL head office, says a press release. The agreement was signed by Monir Ahmed, managing director of Asiatic Laboratories Ltd, and Mir Mominul Huq, head of mobile banking division of DBBL. 

Under this agreement, employees of Asiatic Laboratories Ltd will receive their monthly salaries in their DBBL mobile banking accounts.

After receiving their salaries in their mobile accounts, employees will be able to withdraw/ deposit cash from any nearby agent, DBBL branches and ATMs, transfer money to other mobile accounts, buy goods and services from retailers and pay utility bills throughout the country and moreover will get the opportunity of banking with a Bank.

K S Tabrez, managing director, Abul Kashem Md Shirin, and Md Sayedul Hasan, deputy managing directors of Dutch-Bangla Bank, were also present.

The Daily Independent/Bangladesh/ 28th June 2012

Matiul Islam Nowshad, Chief Human Resources Officer of Robi, and Md. Motior Rahman, Managing Director of Jamuna Bank Limited, exchange documents after signing an agreement in Dhaka.

Robi Axiata Limited and Jamuna Bank Limited signed an agreement on channeling remittance through mobile telecom network.

Matiul Islam Nowshad, Chief Human Resources Officer of Robi and, Md Motior Rahman, Managing Director, Jamuna Bank Limited signed the agreement in Dhaka recently, said a press release.

Under this agreement, beneficiary will have to show or submit a photocopy of original National ID card/passport/driving license and transaction ID to the Robi Service Partner (RSP) outlet to collect the money.

After verification of RSP, the remitted amount will be paid to the beneficiary. Customers of any mobile operator can receive remittance service from RSP free of cost.

Matiul Islam Nowshad said, “This will strengthen Robi's commitment to its customers as m-remittance will make remittance collection more convenient.”

Besides, this is an easy, most convenient and secured way to receive foreign remittances. Selected retailers/distributors of Robi will act as cash out points from where the beneficiaries can withdraw the remitted amounts, he added.

The Daily Sun/Bangladesh/ 28th June 2012

Al-Arafah Islami Bank Limited has opened its 93rd branch at Sonapotti in Pabna Wednesday.

Ekramul Hoque, Managing Director of Al-Arafah Islami Bank, inaugurates the 93rd branch of the Bank at Sonapotti in Pabna Wednesday.

Ekramul Hoque, Managing Director of Al-Arafah Islami Bank inaugurated the branch as chief guest, said a press release.

Engr. Md. Habib Ullah, Senior Vice President of the Bank gave welcome speech.

Alhajj AZM Shamsul Alam, founder Chairman of the Bank, Alhaj Abdul Latif Bishwas, President of Pabna Chember of Commerce and Industries, Mahbubul Alam Mukul, Senior Vice President and Dr. Mohammed Ali, Professor of Rajshahi University addressed the function.

A large number of local peoples, businessmen, clients and well-wishers participated.

The Daily Sun/Bangladesh/ 28th June 2012

Md. Shahidul Islam, Chairman (Audit Committee) of IBBL, inaugurates Bhurungamari Branch of the Bank at Bhurungamari in Kurigram Tuesday.

Islami Bank Bangladesh Limited has opened its 274th branch at Bhurungamari in Kurigram.

Md. Shahidul Islam, Chairman (Audit Commi-ttee) of the Bank inaugurated the branch as chief guest, said a press release.

Md. Abdul Hai Master, Upazila Chairman of Bhurungamari was present as special guest while Syed Abdullah Mohammed Saleh, Deputy Managing Director of the Bank presided.

Taher Ahmed, Senior Vice President and Head of Rangpur Zone of the Bank, Md. Jalal Uddin Mandal, Vice Chairman, Bhurun-gamari Upazilla, Alhajj Taifur Rahman Mukul of Bhurungamari Busi-nessmen Society, Swapan Kumar Saha, Secretary, Bhurungamari Motor Owners Association also spoke.

The Daily Sun/Bangladesh/ 28th June 2012

The readymade garments (RMG) and textile sector entrepreneurs Wednesday urged the government not to enforce the recently issued Bangladesh Bank (BB) circular which tightened rules for classification, provisioning and rescheduling of term loans.

Top apparel industry leaders at a joint press conference in Dhaka said enforcement of the new rules would hamper export-import activities of the RMG and textile sectors.

They said the new circular has curtailed the time limit for repayment of credit, which ultimately would raise the volume of classified loans as RMG and textile industry entrepreneurs depend on bank loans for raw materials import, to expand industrial units and for setting up new projects.

In the circular issued on June 14, Banking Regulations and Policy Department (BRPD) of the central bank curtailed the time limit for assessing probability of loan recovery from borrowers on the basis of qualitative judgments.

The BRPD circular suggests that banks reduce timeframe by three months for classification, provisioning and rescheduling of term loans as per the BB prescribed format for sub-standard (SS), doubtful (DF) and bad/loss (BL) accounts.

Industry leaders say the new BRPD rules would restrict the Bank-client relationship which is a major avenue to recover bank assets by avoiding classification, provisioning and rescheduling.

“Thus, the BRPD’s circular is an untimely move and it would create an impasse in the country’s overall trade and commerce,” said Shafiul Islam Mohiuddin, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), in a written statement.

“Once a loan is written as BL (bad or loss) account, borrowers will not be sanctioned further credit (short-term) from banks. As a result, the entrepreneur will lose competitiveness as the bank loan will become burden on him or her,” he said.

“On the other hand, the bank will lose its strength when a large amount of money will be blocked as classified,” he said.

He said the RMG and textile industry is reeling under tremendous local and international pressure.

He said two major festivals – Eid-ul-Fitr and Eid-ul-Azha – are approaching and RMG entrepreneurs will need to get prepared for additional payments as bonus.

He said local causes disruptive to production include acute gas and electricity crisis, high tariff for utility services, hike in wages, political impasses including shutdowns, labour unrest, raising tax at source, high rate of interest for bank loans and non-availability of credit from banks.

The Daily Sun/Bangladesh/ 28th June 2012