RAJSHAHI: All the 367 branches of Rajshahi Krishi Unnayan Bank (RAKUB) to be computerized in phases by June, 2014 aimed at making its client services and other operational activities more expedited.

RAKUB Managing Director Pradip Kumar Dutta revealed this while inaugurating a five-day training course on ‘Infinity Banking Solution and Troubleshooting’ at the Banks Computer Training Laboratory here on Thursday as the chief guest.

With Deputy General Manager Khandaker Golam Mostofa in the chair, Deputy Managing Director Abu Hanif Khan, General Manager (Operation) Habibur Rahman and General Manager (Audit, Accounts and Recovery) Nishit Kumar Shaha also spoke on the occasion.

The Daily Sun/ Bangladesh/ 26-May-2012

The Asia Pacific Group (APG), a global anti-money laundering body, has asked the government to prepare a guideline on financial operations of local stock related companies to check money laundering.

The anti-money laundering watchdog has also urged the government to tag few international practices as condition for the country’s postal and cargo service providers, sources in Banking Division of the Ministry of Finance said.

Those conditions and directives were given during a recent meeting of the Asia-Pacific Review Group on money laundering activities in the country. A total of five members of Bangladesh Bank and the Banking Division attended the meeting held in New Delhi.

Deputy Governor of Bangladesh Bank Abu Hena Mohd Razee Hassan headed the Bangladeshi delegation in the meeting.

From now on, the APG will review anti-money laundering activities in Bangladesh as it is on its gray list at present. If the country doesn’t work properly for the next four months, it might go to APG’s black list, sources informed about the meeting told daily sun.

The review group further put a condition of thoroughly checking all travelers if they carry more than US $ 5,000 with them while going outside Bangladesh, sources said.

The Daily Sun/ Bangladesh/ 26-May-2012

Bangladesh Bank (BB) Governor Dr Atiur Rahman inaugurated ‘Numismatic Exhibition-2012’ at the Dhaka GPO Friday, hoping that people, specially the children, will have an atypical scope to learn history, heritage, culture from the exhibition of currencies and coins of different countries.

“It is certainly an exceptional event because this numismatic exhibition will help visitors lean history, heritage and culture of a country and its people. I think people, especially the children, will enjoy a sort of arty pleasure,” said the governor while opening the two-day event as chief guest.

Numismatic Collectors’ Society (NCS) organised the exhibition. Director General of Bangladesh Postal Department Nayed Delwar Hussain also spoke on the occasion. 

The Daily Sun/ Bangladesh/ 26-May-2012

KS Tabrez, Managing Director of Dutch-Bangla Bank Limited, inaugurates the Bank’s Ruhitpur branch at Keraniganj in Dhaka Wednesday.

Dutch-Bangla Bank Limited (DBBL) has opened its 117th branch Wednesday at Ruhitpur Bazar under Keraniganj thana in Dhaka.

Managing Director of the Bank KS Tabrez inaugurated the new branch equipped with on-line banking facilities, said a press release.

KS Tabrez informed that DBBL provides a wide array of banking products and financial services including card services to its retail and corporate customers.

He further added that the Bank has started mobile banking operation, first of this kind in the country, to reach banking services to the door steps of the millions of rural people.

He said in addition to branch networks at important places of the country, DBBL has a wide variety of delivery channels including ATMs and Fast Tracks to serve its more than 1.9 million customers throughout the country.

He called upon the local people and business community to avail the most up-to-date on-line banking facilities by maintaining a Bank account with DBBL.

The Daily Sun/ Bangladesh/ 24-May-2012

The IMF yesterday urged the Bank of England to cut interest rates and pump more cash into the recession-hit economy, which has been hit hard by the debt crisis in major trading partner the eurozone.

The International Monetary Fund also warned that Britain's coalition government needed to be prepared to cut taxation and increase infrastructure spending, should the recovery fade or the eurozone crisis worsen.

"Further monetary easing is required" for Britain to secure a "sustainable economic recovery", the IMF said in its annual report on the nation's economy.

"Monetary stimulus can be provided via further quantitative easing (QE) and possibly cutting the policy rate."

The BoE's Monetary Policy Committee (MPC) slashed interest rates to the current record low of 0.50 percent in March 2009, when it also launched its radical QE policy aimed at stimulating the economy.

Under QE, the central bank has so far pumped the economy with 325 billion (402 billion euros, $512 billion) of new cash by purchasing assets such as government and corporate bonds with the aim of giving a boost to lending.

"Evidence suggests that QE can continue to support demand by lowering long-term interest rates and improving banks' liquidity," the IMF said Tuesday.

"The MPC should also reassess the efficacy of cutting the policy rate below its current level of 0.50 percent."

The economy clawed its way out of a fierce downturn in late 2009 but has since struggled to recover, and slid back into recession in the final quarter of 2011 on the back of the eurozone crisis and state austerity.

The IMF added the government may need to further slow the pace of its tough austerity measures to lift the growth amid the risk of a major eurozone "shock".

"If the economy turns out to be significantly weaker than forecast, fiscal easing should be considered," said IMF managing director Christine Lagarde.

"Measures should be focused on supporting growth and employment."

The fund's report noted unemployment stood at 8.2 percent while output was more than 4.0 percent below its pre-crisis peak, but still predicted a modest return to growth in the second half of 2012 provided Europe's crisis eases.

The Daily Sun/ Bangladesh/ 24-May-2012