The central bank has warned banks against excess flow of consumer credit that might lead to create instability in the economy.   Banking Regulations and Policy Department (BRPD) of Bangladesh bank (BB) has issued a circular in this regard on Wednesday.

“The BB found that some banks have excess consumer loans and less credit to the productive sector. It might lead to unfavourable situation in the economy,” reads the BB circular.

In the circular, the BB has asked all the scheduled banks to tighten credit flow to non-productive sector and ensure adequate credit to the productive ones.

The central bank won’t allow any bank to approve cumulative consumer loans above the average credit ratio of total assets, reads the circular.

The Independent/Bangladesh/ 26th April 2012

Hafiz Ahmed Habibur Rahman

Hafiz Ahmed Mazumder, MP, and Habibur Rahman were unanimously re-elected Chairman and Vice-Chairman of the Board of Pubali Bank Limited.

The election was held at the 873rd Board Meeting of the Bank recently. The 29th Annual General Meeting (AGM) of the Bank was also held on the day, according to a press release received Wednesday.

Hafiz Ahmed Mazum- der, an eminent industrialist and tea planter, is associated with many social welfare activities. He contributed in education sector by establishing “Hafiz Majumder Education Trust”.

The Daily Sun/Bangladesh/ 26th April 2012

The 40th ATM Booth of Mercantile Bank Limited started its operation at Bijoynagar Branch located Akram Centre, 3/3-C & C/3/3-D, Purana Paltan (old), 212 S S Nazrul Islam Sarani (New), Dhaka-1000 recently.

Mr. A K M Shahidul Haque, Managing Director and CEO of the Bank inaugurated the Booth officially. He hopes that the mass people of Bijoynagar area will be benefited with the progressive banking services of Mercantile Bank Limited with 24 hours cash withdrawal facility.

The Daily Sun/Bangladesh/ 26th April 2012

Islami Bank Bangladesh Limited has signed an agreement with LEADS Corporation Limited for establishing contact centre to provide IT-rich banking services.

Muhammad Abul Bashar, deputy managing director of the Bank and Sheikh Abdul Aziz, managing director of LEADS Corporation signed the agreement on Tuesday.

The contact centre will facilitate Bank’s clients with immediate services like account balance, account statement, fund transfer, utility bill payment and so on.

The Bank will also be able to keep internal communication through this centre which the Bank said will add a new dimension to its internal communication.

The Daily Sun/Bangladesh/ 26th April 2012

The scholarship awarding ceremony of Dutch-Bangla Bank will be held at Osmani Smrity Milonayaton in Dhaka on Saturday.

Finance minister Abul Maal Abdul Muhith will attend the ceremony as chief guest while Bangladesh Bank governor Dr. Atiur Rahman will be present as special guest.

The Bank has been awarding scholarship to many meritorious and needy students considering their HSC exams results for years.

As part of the programme, 857 students who passed HSC exams in 2011 and are studying at the graduate level will receive the scholarship.

Minister Muhith will award the scholarship letters to them.

The Daily Sun/Bangladesh/ 26th April 2012