The online export monitoring system introduced at Bangladesh Bank has ensured fast realisation of export proceeds that helps drive the growth of foreign currency reserves, officials said yesterday.

The central bank launched the online monitoring system in November 2011, replacing the manual system.

The repatriated export value was $4.35 billion against the total export value of $4.630 billion until April, according to a monitoring report.

“The online export monitoring system software builds up a real-time centralised database which provides a clear picture of export receipts,” Governor Atiur Rahman said.

Bangladesh Bank used to analyse the overall export situation after getting the paper-based export information or data from different banks.

“It takes long time to get a real picture of export proceeds in the manual system," Rahman said.

“It's now a matter of a minute to get the export proceeds in the online system," he said.

In the online system, the BB receives export information from banks online through a series of checkpoints and analyse data to monitor exports.

Deputy Governor Nazneen Sultana said the online system enables the central bank to monitor the repatriated export value which is, in fact, helping increase the foreign currency reserve.

The Daily Star/Bangladesh/ 3rd May 2012

M Wahidul Haque, chairman of AB Bank, presides over the 30th annual general meeting of the Bank at Bashundhara Convention Centre in Dhaka yesterday. The Bank approved 5 percent cash and 20 percent stock dividends for its shareholders. M Fazlur Rahman, president and managing director, was also present.

The Daily Star/Bangladesh/ 3rd May 2012

Finance Minister AMA Muhith left the country for Manila yesterday to attend the 45th annual conference of the Asian Development Bank (ADB).

The ADB's 45th annual meeting of its Board of Governors will be held in the Philippines' capital of Manila on May 2-5.

Muhith is accompanied by his daughter Samina Muhith.

Nearly 4,000 delegates, comprising top policymakers, business leaders, media, academics, civil society, and development institution representatives, are set to attend the meeting.

The delegates of the meeting will hear from experts about ways to get financial services to nearly three billion poor people around the world.

The Daily Star/Bangladesh/ 3rd May 2012

Bank Asia Limited opened its 66th branch equipped with all modern facility at Dohajari in Chittagong on Thursday.

Rumee A Hossain, Chairman of the Board of Audit Committee of the Bank inaugurated the branch, said a press release.

Mohammed Lakiot- ullah, Vice Chairman of the Bank’s board, AM Nurul Islam, Vice Chairman of the Exe- cutive Committee, Shah Md Nurul Alam, Director, Md. Mehmood Husain, President and Managing Director and Chittagong Zonal Head of the Bank, Swapan Dasgupta, were present.

The Daily Sun/Bangladesh/ 1st May 2012

Sheikh Abdul Hye Bacchu, Chairman of BASIC Bank, presides over an AGM in Dhaka.

BASIC Bank Limited has declared 25 percent stock dividend for its shareholders for the year ended 2011.

The dividend was decided at the 23rd annual general meeting (AGM) of the company at the Bank's head office.

Sheikh Abdul Hye Bacchu, Chairman, Board of Directors of the Bank presided over the AGM, said a press release on Tuesday.

Directors of BASIC Bank Jahangir Akhand Salim, Fakhrul Islam, Shubhashish Bose, Neelufar Ahmed, Quamrun Nahar Ahmed, Shaskhawat Hossain, Prof Dr Kazi Akhtar Hussain, Md Anwarul Islam, FCMA, Managing Director, Kazi Fakhrul Islam, Additional Managing Director, Sheikh Manjur Morshed, Deputy Managing Directors, Fazlus Sobhan and Kanak Kumar Purkayastha were present.

Md. Rizwanul Huda, Deputy Secretary, Banking and Financial Institutions Division, Ministry of Finance attended the meeting as the representative of the government.

BASIC Bank Limited earned a gross operating profit Tk 2.35 billion in 2011.

The Daily Sun/Bangladesh/ 1st May 2012