A representative team of World Bank (WB) on Tuesday visited Rapid PR, the first digital media archive of the country, says a press release.

They were pleased to see that Rapid PR achieved the power to monitor the vast number of media channels of the world and many largest organisations such as World Bank.  

World Bank gave thanks for monitoring its development works in Bangladesh. Communication officer Meherin Mahbub, consultant MA Mazed and Nawmi Ahmed were present as visitor on behalf of World Bank.  

Managing Director of Rapid PR Khondoker Shahidul Islam Shakhor showed them the different sections of Rapid PR. The visiting team has decided to work as a combined team with Rapid PR.

The Independent/Bangladesh/ 8th March 2012

KAM Majedur Rahman, Managing Director of Premier Bank Limited, inaugurates an ATM booth at Uttara in the city recently. Md Mahfuzur Rahman, Head of Cards, and Md Hasanul Hossain, Manager for Uttara Branch, among other officials, are also seen..

Premier Bank Limited (PBL) recently opened an ATM Booth beside its Uttara branch in the city.

Majedur Rahman, managing director of the Bank, formally inaugurated the booth, said a press release.

Md Mahfuzur Rahman, head of cards, and Md Hasanul Hossain, manager for Uttara branch, among other senior officials and clients were also present on the occasion.

PBL has a plan to expand the ATM network throughout the country.

The Daily Sun/Bangladesh/ 8th March 2012

The Bangladesh Merchant Bankers Association (BMBA) leaders yesterday agreed to waive 50 percent interest on margin loans of the small investors as per a recent government decision.

The merchant bank leaders made the decision at a meeting held yesterday in Dhaka attended by its executive members.

“We sat to discus the issue of waiving 50 percent interest on margin loans taken by retail investors who suffered losses due to recent debacle in share market”, said Mohummad A Hafiz, president of BMBA.

He also said each merchant bank agreed to waive interest and the process wave the interest would begin soon.
Earlier on March 4, the government waived 50 percent interest on margin loans for investors who borrowed up to Tk 1 million and suffered losses due to plunge in share prices during the last one year.

The government also offered 20-percent quota in all initial public offerings (IPOs) to be offloaded in 2012 and 2013 by government or private entrepreneurs.

On February 22, the government formed a special committee led by Investment Corporation of Bangladesh Managing Director M Fayekuzzaman to make recommendations on giving compensation to retail investors who suffered losses during the market crash.

The committee came up with various recommendations, including waiving interests and IPO quota.

The Daily Sun/Bangladesh/ 8th March 2012

Alhaj Mohammad Hasan, Chairman of Shahjalal Islami Bank, presides over the executive committee meeting of the Bank at a hotel in Chittagong recently.

Shahjalal Islami Bank Limited (SJIBL) organised its 474th executive committee (EC) meeting at a hotel in Chittagong recently.

Alhaj Mohammad Hasan, chairman of EC of the Bank, presided over the meeting, said a press release.
The members of the executive committee discussed various issues relating to investment in different sectors.

Among others, Alhaj Anwar Hossain Khan, chairman of board of directors, Alhaj Akkas Uddin Mollah, Alhaj Mohammed Solaiman, Alhaj Tofazzal Hossain, directors, Md Abdur Rahman Sarkar, managing director and Md Abdul Jabber Chowdhury, deputy managing director were present in the meeting.

The Daily Sun/Bangladesh/ 8th March 2012

HONG KONG: Banking giant HSBC said yesterday it has agreed to sell its general-insurance businesses in Hong Kong, Singapore, Argentina and Mexico for around $914 million.

The move is part of the bank's strategy to cut costs and focus on growth, HSBC Group Chief Executive Stuart Gulliver said in a statement to the Hong Kong stock exchange.

"It will enable us to focus our capital and resources on the growth of our core businesses, including the building of our broader wealth management capabilities," he said.

The Daily Sun/Bangladesh/ 8th March 2012