Smiling Sun (Surjer Hashi) hosted the inaugural ceremony of the Smiling Sun online Managemment Information System (MIS) at Rangamati recently. Dutch-Bangla Bank donated 320 Net Books, valued Tk 7.25 million, which will enable all 320 Smiling Sun locations to connect to the Smiling Sun online MIS system. Mr Sayem Ahmed, Chairman of the Executive Committee of the Board of Dutch-Bangla Bank (guest of honour) presented the Net Book to Mr Richard Greene, Mission Director of USAID.

Smiling Sun (Surjer Hashi) hosted the inaugural ceremony of the Smiling Sun online Managemment Information System (MIS) at Rangamati recently.

Dutch-Bangla Bank donated 320 Net Books, valued Tk 7.25 million, which will enable all 320 Smiling Sun locations to connect to the Smiling Sun online MIS system. The MIS system ensures improved management, accountability and transparency using real-time data for the affordable healthcare of the rural masses.

Present at the ceremony were Dipankar Talukder, State Minister, Ministry of Chittagong Hill Tracts Affairs, (chief guest), Dan W. Mozena, US Ambassador to Bangladesh (guest of honour), and Sayem Ahmed, Chairman of the Executive Committee of the Board of Dutch-Bangla Bank (guest of honour).

The US ambassador explained the role that the seemingly 'invisible' online MIS system would deliver real results and play a part in creating a better service for Smiling Sun clinics nationwide. He discussed USAID's continuing role in Bangladesh. He applauded the generous contribution made by DBBL in this specific instance and also in other sectors as well.

Mr. Sayem Ahmed presented the Net Book to Mr. Richard Greene, Mission Director of USAID. The Net Books have been presented to the SSFP for use in 64 districts through a network of 320 rural and urban clinics.

Mr. Sayem Ahmed mentioned in his speech that the role of Smiling Sun for providing affordable healthcare in a sustainable way is unique, genuine and different. He mentioned that with the MIS system, Smiling Sun has set the standard for a nationwide healthcare network.

Mr. Naba Bikram Kishore Tripura, Secretary Chittagong Hill Tracts Affairs, Mr. Sourendra Nath Chokroborty, D.C. Rangamati, Dr. Shuvro Chakma, DPM Tribal Health, DGHS, and Mr. K.S. Tabrez, Managing Director, Dutch-Bangla Bank attended the event and spoke on the occasion as special guests. Mr. Nikhil Kumar Chakma, Chairman, Hill District Council, Rangamati, chaired the event.

Financial Express/Bangladesh/ 5th April 2012

Bangladesh Bank's (BB's) board of directors on Wednesday approved three new banks sponsored by non-resident Bangladeshis (NRBs). "However, the BB board has decided to further evaluate the shortlisted applications for conventional banks. Today's meeting is being 'adjourned', and the board will sit again on Sunday," BB deputy governor SK Sur Chowdhury told reporters after the meeting.

Governor Dr Atiur Rahman chaired the meeting at the central bank's board room.
License for new conventional banks in the private sector has remained a much-discussed topic for the last few months, after the government pronouncement that it would allow more players in the over-saturated banking sector.  

Currently, 47 banks are operating across the country.
Earlier, BB had received nine applications by NRBs to set up banks for expatriate Bangladeshis. Chowdhury said that the BB board has decided to provide licenses to three of these banks, with conditions that these would contribute to the country's economy by boosting up remittance inflows, getting higher overseas trade and commerce and ensuring more FDI (Foreign Direct Investment).

"One of the three NRB banks will be named NRB Commercial Bank Ltd. Coincidentally, proposed names for the other two banks happened to be the same, namely, NRB Bank Ltd. The board has advised that one of these two banks should change its name," Chowdhury added.

According to BB sources, Iqbal Ahmed (UK), Nizam Chowdhury and Farashat Ali (USA), respectively, are sponsors of the three banks.

Although, aspirants for conventional banks hoped that something would come out for them as well, the BB board could not reach consensus in this regard due to absence of some members, said an inside source.
Chowdhury, however, said that the meeting had some other agendas, and that the board members did not have much time to discuss the issue.

The central bank had shortlisted 16 applications from a total of 37 such applications. Applicants, who had been shortlisted,  include influential lawmakers, politicians and business personalities linked to the ruling alliance, said BB sources.

According to sources, top five banks on the shorted list are -- Union Bank Ltd of former president HM Ershad, Modhumati Bank Ltd of Fazle Noor Taposh MP, The Farmers Bank Ltd of Dr Mohiuddin Khan Alamgir, South Bangla Agriculture and Commerce Bank of SM Amjad Hossain, and Midland Bank Ltd of Moniruzzaman Khandker.

Other aspirants include Mirza Azam MP (The People's Bank), Harun-Ur-Rashid (Destiny Bank), Mahbuba Kabir (Self Employment Bank), Enamul Haque Chowdhury (Chartered Bank), Abdul Matlub Ahmed (Katak Bangla Bank), Abul Kashem (People's Islami Bank), MA Hashem (Federal Bank) and Engineer Enamul Haque (Korea-Bangla Bank).

The Independent /Bangladesh/ 5th April 2012

M Wahidul Haque, chairman of AB Bank, and M Fazlur Rahman, president and managing director, attend a press meet to celebrate the Bank's 30 years of commercial operations, at Ruposhi Bangla Hotel in Dhaka yesterday.

AB Bank yesterday celebrated its 30 years of commercial operation at a programme at Ruposhi Bangla Hotel in the capital.

"Taking into consideration the world economy, AB will step forward through creating newer opportunities for itself with its unique features and stature," said M Wahidul Haque, chairman of the Bank.

The Bank organised different programmes, including painting and essay competitions for the younger members of the families of its employees.

The Bank's President and Managing Director M Fazlur Rahman, Deputy Managing Directors Shamim A Chaudhury, Bardul H Khan, Ahsan Afzal also took part in the event.

The Daily Star/Bangladesh/ 5th April 2012

Dr S Hafeez Rahman is the director general of Asian Development Bank's South Asia Department (SARD), a post that has never been held by a South Asian. SARD that covers Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka is ADB's largest department.

Dr Rahman, who retires today from ADB after serving the organisation for nearly 20 years, was involved in a number of landmark ADB operations, including resumption of the Bank's operations in Vietnam in 1994 and Afghanistan in 20022003. He initiated ADB's assistance to Kazakhstan in 1995 in the aftermath of the collapse of the Soviet Union.

He also played a big role in ADB's stabilisation and recovery assistance to the countries hardest hit by the 1997-1998 Asian financial crisis. Dr Rahman also served as ADB's country director in Nepal during the turbulent times of civil conflict.

Prior to joining ADB, Dr Rahman worked with Bangladesh Institute of Development Studies (BIDS) and was a member of several government, regional, and international expert panels and committees. Recently, he spoke to The Daily Star on a wide range of issues -- from foreign aid to development activities, Bangladesh's economic problems at the moment, the Padma Bridge and his retirement plans -- at ADB's Dhaka office.

Development requires certain changes in mindset; there is no tomorrow in development because needs are increasing every day, Rahman said. “It must be today or yesterday. You have to reform your institutions if things are not happening today or yesterday.”

Rahman said institutions in Bangladesh are lagging seriously in project management, supervision, coordination and project approvals.

“They (institutions) need quick reforms in order to be able to focus on development,” he said.

Foreign aid is needed for many countries and it can very useful if it is used efficiently, he said. There are examples of more efficient uses of aid -- it gives you the breathing space and time unlike a commercial bank, he added.

Rahman focused on efficient aid utilisation as Bangladesh is not getting the funds promised by development partners worth over $13 billion, even though the economy is passing through a difficult time.

“You have to have the mechanism…if you are too slow, it ends up wasting resource,” Rahman said.

He cited examples of how things would get difficult for unnecessary delays in implementation. “If a drinking water project's implementation period is 5 years and if one takes 7-8 or 9 years to execute it, the amount of water you produce would be inadequate.”

He also emphasised partnerships between the public and private sector in taking development issues seriously.

“The most important indicator for a country that can be set to take development seriously is when everybody in the government and private sector starts believing that time is money and we have to be efficient.”

According to him, Bangladesh needs to show urgency that it needs foreign aid. But showing urgency is not enough, the government has to carry out reforms quickly to use aid effectively and speed up development works, he added.

He cited India's example of portfolio management that has improved significantly in the past few years. ADB disburses $2 billion in foreign aid to India annually out of a promise of $3 billion.

“It happens when the government is serious,” said Rahman. “But even 5-6 years ago, India was similar to Bangladesh in aid utilisation.”

On Bangladesh's bottlenecks in aid utilisation, he said the Economic Relations Division (ERD) knows what the problem is.

Rahman advised the government to form a coordinating body or cell that would identify bottlenecks and accordingly, take action. He said Indonesia had formed such a body in the mid 90s to accelerate development works. The body met only top ministers before taking a decision, he added.

The conditions set by donors are much-talked issues in recipient countries, said the ADG DG. He also focused on this point and said these are very common to any lender, whether it is a commercial bank or World Bank or ADB.

“We are accountable to the shareholders. Donors put taxpayers' money and we have to make sure that every dollar is spent efficiently,” Rahman said.

There are other advantages to getting involved with the donors, he said.

“Donors bring the best international practices (from design to supervision), which is the beauty of borrowing from them.”

He however said Bangladesh has improved a lot in aid utilisation than what it was 10 years ago.

The ADB top official said the Bangladesh economy has been doing well until recent months. He said the problems came from fuel import payments. But it is manageable by coordinating fiscal and monetary policies. He also said high inflation is posing a big challenge for Bangladesh.

On the Padma Bridge, Rahman said ADB has already invested in the project by conducting detailed design of the bridge. “It's a difficult issue; one has to wait till the investigation report comes.”

After a long career in ADB and other organisations in and outside Bangladesh, Rahman now thinks of his retirement. He wants to engage in research and analysis on development issues.

The Daily Star/Bangladesh/ 5th April 2012

The National Board of Revenue (NBR) has asked all scheduled banks to send information on bank accounts and other transactions of Destiny 2000 Ltd and its sister concerns within seven days.

NBR, the tax department, also sought account details of all directors of Destiny 2000 Ltd and its nine other sister concerns, NBR sources said.

“We have asked banks to furnish information on all types of accounts of these firms and their directors to see if the company has evaded tax or flouted any rules,” sources added.

The move comes two days after the NBR called for the tax files of Destiny and its sister concerns from the field offices to examine any possible tax dodging by the company.

Talking to daily sun Executive Director of Bangladesh Bank SM Monirujjaman said all concerned agencies like NBR, ACC are working to find out involvement of Destiny in illegal acts.

“We have already submitted report to the line ministries regarding Destiny,” Monirujjaman said adding if concerned agencies or ministries seek any support from Bangladesh Bank, then they are ready to provide those.”

Managing Director of NCC Bank Nurul Amin yesterday told daily sun that they received the letter from NBR. The bank has no business, financial transactions with Destiny 2000 Ltd and there is no account of Managing Director or directors of Destiny with the bank.

Daily Sun/Bangladesh/ 5th April 2012