Islami Bank Bangladesh Limited (IBBL) inaugurated its 137th ATM booth at Sejan Point, Farmgate, in Dhaka recently.

Hafizul Islam Mian, Director of the bank inaugurated the ATM booth as chief guest, said a press release on Saturday.

Md. Shamsuzzaman, Executive Vice President and Head of Dhaka Central Zone, Md. Shahidullah, Senior Vice President and incumbent of Farmgate Branch, Dr. Muhammad Kamal Uddin Jasim, Senior Vice President and Head of Business Promotion and Marketing Division and other high officials of the bank were present.

News: The Daily Sun/ Bangladesh/ 18-May-2012

NCC Bank Limited signed a deal on remittance agreement with Japan Remit Finance Company Limited in Tokyo, Japan recently.

Bangladeshi expatriates from now would be able to remit their hard-earned money from Japan to Bangladesh safely and quickly, said a press release on Saturday.

Mentionable that Japan Remit Finance Company Limited is the only legal organisation to remit money from Japan to Bangladesh.

Mohammed Nurul Amin, Managing Director of NCC Bank Limited and Hossain Sarwar, CEO of Japan Remit Finance Co. Limited signed the agreement on behalf of their respective sides.

Md. Nurun Newaz Salim, Chairman of NCC Bank, Noboru Muramatsu, General Manager of Japan Remit Finance, CFO Masahiko Watanabe and CTO Taka Mizuno were also present.

News: The Daily Sun/ Bangladesh/ 20-May-2012

Asian markets slumped and the euro fell further on Friday as the eurozone debt crisis was stoked by a ratings downgrade for Greece and 16 Spanish banks, while weak US data added to the pessimism.

Tokyo tumbled 2.99 per cent, or 265.28 points, to 8,611.31, while Seoul plummeted 3.40 per cent, or 62.78 points, to 1,782.46 and Sydney dived 2.67 per cent, or 110.9 points, to 4,046.5, its biggest fall in eight months.
Hong Kong fell 1.30 per cent, or 249.08 points, to 18,951.85 and Shanghai was 1.44 per cent lower, shedding 34.37 points, to 2,344.52.

Moody’s slashed the ratings of 16 banks in Spain by between one and three notches, citing “renewed recession (in Spain), the ongoing real-estate crisis and persistent high levels of unemployment”. It also blamed the reduced credit-worthiness of the government.

Top bank Santander and number two BBVA were both hit with three-notch downgrades to A3, while two other large banks, Banesto and CaixaBank, were also cut to the same level.

The move came just over a week after the government intervened to prop up the fourth-largest bank Bankia by taking a 45 per cent stake.

Bankia on Thursday had to bat away rumours it had been hit with a run on deposits, as nervousness around the eurozone grew over the entire Spanish banking sector.

Also Thursday, Fitch downgraded Greece’s credit a notch, to CCC from B-, saying it was vulnerable to default amid political uncertainty over Athens’ commitment to a crucial bailout plan and its possible exit from the eurozone.
“The downgrade of Greece’s sovereign ratings reflects the heightened risk that Greece may not be able to sustain its membership of Economic and Monetary Union (EMU),” it said in a statement.

A strong showing by anti-austerity parties in May 6 elections and the failure of officials afterwards to form a government “underscores the lack of public and political support for the EU-IMF 173-billion-euro ($220 billion) programme”, it said.

A caretaker government of technocrats took office in Athens Thursday to prepare fresh elections to be held mid-June amid rising popularity of political parties that oppose the bailout and its tough austerity measures.

The agency warned that if a new government did not support the bailout, Greece would likely leave the euro bloc and default on its debt, potentially hurting the ratings of other eurozone member countries.

The single currency tumbled in early European trade as low as $1.2642 to reach a level last seen on January 16. It later stood at $1.2687, compared with $1.2693 in New York, and well down from $1.2744 in Tokyo Thursday.

It also stood at 100.55 yen—its weakest level since February—from 100.65 yen, and sharply lower than 102.35 yen seen in Thursday in Tokyo.

The dollar stood at 79.27 yen compared with 79.28 yen in New York. The US currency bought 80.32 yen Thursday in Tokyo.

On Wall Street, trade was subdued amid fears that a deep crisis in the eurozone may spread across the Atlantic and knock the tentative US recovery off course.

The Dow fell 1.24 per cent, the S&P 500 dropped 1.51 per cent and the Nasdaq plummeted 2.10 per cent.
Discouraging US indicators on regional manufacturing and the economic outlook added to investor woes. Oil was lower.
New York’s main contract, West Texas Intermediate crude for delivery in June, was down 25 cents to $92.31 per barrel while Brent North Sea crude for July shed 66 cents to $106.83 in late afternoon trade.

Gold was at $1,589.90 an ounce at 1100 GMT, compared with $1,547.20 late Thursday.
In other markets:
Singapore slipped 1.54 per cent, or 43.51 points, to 2,779.10.
DBS Bank fell 1.99 per cent to Sg$13.27 while real estate developer CapitaLand was down 3.48 per cent at Sg$2.50.

Taipei fell 2.79 per cent, or 205.58 points, to 7,151.19.
TSMC shed 3.88 per cent to Tw$81.8 while Chunghwa Telecom was 0.77 per cent lower at Tw$90.3. 

The Independent/ Bangladesh/ 19th May 2012

Speakers asked the newly recruited bankers to equip themselves with professional knowledge as it is vital for attaining success in the banking sector for overall socio-economic development of the region. They urged them to make their banking activities free from corruption and monopoly so that the clients could derive total benefits of their services.

They were addressing the closing and certificate-giving ceremony of a six- week foundation training course for the newly appointed senior officers of Rajshahi Krishi Unnayan Bank (RAKUB) at its training institute on Thursday.

RAKUB Chairman Prof Dr Shah Nawaz Ali addressed the session as the chief guest while Managing Director Pradip Qumar Dutta, Director Prof Dr Rustam Ali Ahmed and Deputy Managing Director Abu Hanif Khan spoke as special guests with principal of the institute Mozammel Haque in the chair.

The Independent/ Bangladesh/ 19th May 2012

Syed Manzur Elahi, former adviser to the caretaker government and MTB’s Founding Chairman, inaugurates the 100th ATM booth of Mutual Trust Bank Limited (MTB) at MTB Centre at Gulshan in Dhaka.

Mutual Trust Bank Limited (MTB) opened its 100th ATM booth at MTB Centre, Gulshan in the city recently.

Syed Manzur Elahi, former Adviser to the Caretaker Government and MTB’s Founding Chairman inaugurated the booth as chief guest which MTB Chairman Dr. Arif Dowla was present as the special guest.

MTB Directors M.A. Rouf JP, Md. Abdul Malek, Anjan Chowdhury, Md. Hedayetullah Ron, Md. Wakiluddin, Khwaja Nargis Hossain and Managing Director and CEO Anis A. Khan, MTB Privilege customers, senior officials of corporate houses, elite and dignitaries also attended the event.

Syed Manzur Elahi expressed his happiness at the opening of MTB’s milestone of 100 ATMs, within just over a year, since the first ATM was inaugurated, at the same venue, on March 27, 2011, by the late MTB Chairman Samson H Chowdhury.

Dr Dowla said that MTB is continuously looking for ways to enhance the banking experience of its customers and the expansion of its ATM network, within such a short time, is a testament to that fact.

At present the MTB’s ATM network covers Dhaka, Chittagong, Sylhet, Moulvibazar, Sunamganj, Habiganj, Brahmanbaria, Cox’s Bazar, Bogra, Gazipur, Comilla, Laksham, Chauddagram, Narayanganj, Jessore, Kushtia, Pabna, Rajshahi, Joypurhat, Thakurgaon, Tangail, Madaripur and Mymensingh areas.

The Daily Sun/ Bangladesh/ 19th May 2012