Douglas Flint, HSBC group chairman, recently announced the launch of HSBC Water Programme, a new $100 million, five-year partnership with WWF, WaterAid and Earthwatch effort.

It is intended to tackle water risks in river basins, bring safe water and improved sanitation to over a million people; and raise awareness about the global water challenge, said a statement yesterday.

The programme came in the wake of a new report from Frontier Economics for HSBC. It revealed that by 2050, without any improvement in water resource management, seven of the world's top ten river basins will face unsustainable water consumption leading to scarcity.

It implies that at least 30 percent of the natural water run-off is being consumed. This could mean the GDP growth expected in the river basins would not materialise. Also, ecosystems home to quarter of the world population would face permanent damage affecting sustainability of communities and businesses.

HSBC group chair Flint commented, "Research findings show that the future of river basins is critical for global economic growth."

"The report also highlights the powerful economic rationale for improving access to freshwater and sanitation, at a time when total aid for water access and sanitation has actually declined. The HSBC Water Programme will benefit communities in need, and enable economies to prosper," he added.

The programme will tackle water supply and sanitation. In 2010 nearly 800 million people were without access to safe water, and 2.5 billion without access to basic sanitation. HSBC will share findings and insight to contribute to global understanding and best practice among NGOs, policymakers and businesses, as well as engaging its own employees.

Barbara Frost, chief executive of WaterAid commented, "The HSBC Water Programme will transform lives through its support of WaterAid's work. This exciting 5 year partnership will result in 1.1 million people gaining access to safe water and 1.9 million to improved hygiene and sanitation in Bangladesh, India, Nepal, Pakistan, Nigeria and Ghana."

WWF Chief Executive David Nussbaum said that recent figures from WWF show that freshwater ecosystems have declined by 70 percent since 1970 and 2.7 billion people are living in river basins that experience water shortages at least one month a year.

"These figures, alongside the research commissioned by HSBC, demonstrate why it is so important for us to take action to protect our freshwater resources now," he added.

Eve Carpenter, chief operating officer of Earthwatch said, "The programme will enable Earthwatch to set up research projects across the world, working with local conservation partners to address urban water management issues."

The Daily Star/Bangladesh/ 20th June 2012

Mahbubul Alam Tara has been re-elected Chairman of the Audit Committee of NCC Bank Ltd, while Fakhrul Anwar was re-elected Chairman of the Executive Committee of the bank. The Board of Directors of NCC Bank at a meeting re-elected them.

Mahbubul Alam Tara, Chairman of the Audit Committee of the bank, is a sponsor director and a former chairman of the bank. He was Whip of Bangladesh Jatiya Sangsad during 1991 to 1995 and was also president of Jatiyabadi Krishak Dal.

Fakhrul Anwar, Chairman of the Executive Committee, was born in a respectable family of Nanupur, Fatikchhari in Chittag- ong in 1967. He is the Managing Director of Golden Inn Chittagong Ltd, Director of Federal Insurance Company Ltd., Holy Crescent Hospital Ltd. and Neptune Motors.

The Daily Sun/Bangladesh/ 20th June 2012

Md. Shirajul Islam Mollah, Chairman of Prime bank Limited, seen with other directors of the bank at the bank’s ‘managers’ meeting-2012’ at a city hotel in Dhaka.

Prime Bank Limited organised ‘Managers’ Meeting-2012’ at a city hotel in Dhaka.

Md. Ehsan Khasru, Managing Director of the bank presided over the meeting, said a press release Tuesday.

Md. Shirajul Islam Mollah, Chairman of the bank was present as chief guest while former Chairman Azam J Chowdhury, directors of the bank, Md. Shahadat Hossain and Prof. Mohammed Aslam Bhuiyan, Advisor of the bank Ziaul Hassan Siddiqui were present as the special guests.

The main objective of the meeting was to analyse the business progress of the bank, upcoming challenges and ways to resolve them.

The Daily Sun/Bangladesh/ 20th June 2012

The government has appointed two new directors of International Finance and Investment Corporation (IFIC) Bank from its stake.

The Banking Division of the Finance Ministry Tuesday issued a circular in this regard.

As per the circular, Arijeet Chowdhury, Joint Secretary of the Banking Division has been appointed director of IFIC Bank to replace Mahbub Haque Bhuiyan, the existing director of the bank and also Chairman of the Bangladesh Sugar and Food Industries Corporation (BSFIC).

ARM Nazmul Sakib, Additional Secretary of the Finance Division will replace Joint Secretary Mohammad Ali, the other director of the bank.

The government now holds 32.75 percent of the share of IFIC bank.

The Daily Sun/Bangladesh/ 20th June 2012

The banks have a significant opportunity to extend services to an overwhelming number of the country’s three million readymade garment workers so that they can have access to savings and credit products, a study released by The International Finance Corporation (IFC), a member of the World Bank Group, finds.

The study analysed how barriers to access to finance for 86 percent employees of the $-16 billion readymade garment industry can be addressed, said a press release.

The South Asia Enterprise Development Facility, managed by IFC in partnership with the UK Department for International Development and the Norwegian Agency for Development Cooperation, and the Bangladesh Investment Climate Fund, managed by IFC in partnership with the UK Department for International Development and the European Union, carried out the study.

The Daily Sun/Bangladesh/ 20th June 2012