National Credit and Commerce (NCC) Bank Ltd opened two ATM booths in the city’s Pragati Sarani area and Narayangonj town on Wednesday to provide enhanced banking services to its customers.

At the ATM booths, the bank’s customers will get various banking services including 24-hour cash withdrawal, balance inquiry, utility bill payment, mini statement and pin change facilities from the booths with free of charge, said a press release.

Md Nurun Newaz, chairman of the bank, formally inaugurated the booths as chief guest.

The bank’s Managing Director and CEO Mohammed Nurul Amin, Deputy Managing Director TM Faruque Chowdhury, Executive Vice President Md Omar Faruque Bhuiyan, Senior Vice President Fakhrul Islam Chowdhury, among others, were present on the occasion.

News: Daily Sun/ Bangladesh/ July-02-2011

HSBC has initiated a cross-border Renminbi (RMB) trade settlement the first ever of its kind in Bangladesh for one of its corporate clients, Ring Shine Textiles Limited.

Ring Shine Textiles Limited, a Chinese company, is based in the Dhaka Export Processing Zone. Under this deal, HSBC has opened a Documentary Credit to facilitate import of yarn from an onshore exporter in China.

Cross-border trade settlement in RMB allows businesses to reduce transaction costs, diversify their currency portfolio and hedge foreign exchange risk. Bangladeshi businesses doing international trade with China can garner significant benefits when settling their trade in RMB.

Commenting on the initiative, Sanjay Prakash - HSBC CEO in Bangladesh said, "HSBC is pleased to execute the first ever RMB trade transaction in Bangladesh. As part of our global efforts, HSBC is committed to connecting our customers internationally and assist them in achieving their goals."

"This transaction is a testament to HSBC's continued leadership in international trade. It also reflects our solution-oriented approach towards the changing requirements of our customers engaged in cross-border trade," said Md Mahbub-ur-Rahman - Corporate Banking Head of HSBC Bangladesh.

"HSBC's reputation as Asia's global bank is further reinforced through our capability to offer solutions in the Chinese currency. With our RMB related research and knowledge base, and a strong presence in Greater China, HSBC is able to facilitate settlements with higher efficiency and better value for its clients," added Bashar M Tareq, Head of Global Markets, HSBC Bangladesh.

As Asia's strongest banking brand with a deep-rooted history in China, HSBC is the global RMB expert. The first international bank to settle cross-border RMB trade, HSBC's RMB capabilities across six continents is one of the widest amongst all banks. HSBC currently offers RMB trade settlement services across Asia, Europe, Australasia, Africa, North America and South America.

Source: Financial Express/Bangladesh/May 26, 2011

Apollo Hospitals has recently signed a corporate agreement with Social Islami Bank Limited (SIBL) to provide priority corporate benefits and medical services for the bank’s card holders and their dependents.

Michael S. Potter, chief executive officer(CEO) of Apollo Hospitals, Dhaka and Muhammad Ali, managing director of Social Islami Bank Ltd, signed the agreement on behalf of their respective organisations, said a press release.

Dr. Shagufa Anwar, general manager for Business Development of Apollo Hospitals, said they will continue to provide premium services to their corporate clients. A M M Farhad, senior executive vice-president (SEVP) and head of Global Business of Social Islami Bank Ltd, was also present on the occasion.

News: Daily Sun/ Bangladesh/ May-18-2011

Islami Bank Bangladesh Ltd (IBBL) will set up 150 ATM booths of its own and plans to share service with 1,000 shared booths across the country within this year.

The bank is now providing service through 54 self-installed and 124 shared ATMs, said a press release.

Mohammad Abdul Mannan, managing director of the bank, hinted the initiative on Tuesday while inaugurating the bank’s 55th ATM booth on IBN Sina Trust Building in the city’s Dhanmondi area, the news release said.

Md Nazibur Rahman, executive vice president and head of Dhaka South Zone, Muhammad Kamaluddin (Jasim), senior vice president and manager of the bank’s Dhanmondi branch, were also present on the occasion.

Abdul Mannan said the service of IBBL is spread in the international sphere. This bank has turned into the leading bank of the country with confidence of the people of the country.

He also informed that 28 percent of the total remittance of the country is handled through IBBL.

The bank handles around 7 million deposit and investment clients and 60 thousand shareholders, he added.

News: Daily Sun/ Bangladesh/ 21-Apr-2011

Bangladesh Bank (BB) has advised all commercial banks and financial institutions to disburse profits to shareholders, through the Electronic Fund Transfer Network (EFTN). The central bank issued a circular on Thursday, in this regard, which was signed by AKM Fazlur Rahman, deputy general manager of department of currency management and payment system.
The circular mentioned that the EFTN system had been launched by the central bank, on February 28, in order to make financial transactions fast, efficient and safe. The system is cost-effective and saves time, the
circular noted.
Earlier, 40 private and state-owned commercial banks had joined the central bank's EFTN credit transfer initiative, by rolling out the service in branches across the country.
Under the programme, BB has provided the foundation for access to every banking and non-banking consumer, as well as business customers, to facilitate electronic commerce, inward remittance and salary payment, at lower costs and shorter time.
Terming the EFTN system a milestone for the country's banking history, central bank governor Dr Atiur Rahman said the network will have extensive reach by connecting, for the first time, all the banks in Bangladesh, for transfer of funds electronically.
He said creation of the EFTN system is the most critical component in the development of a modern payments system infrastructure.
"It (EFTN) is the electronic highway of digital banking. In the near future, I expect that all banks will begin processing electronic funds transfers through this network," he said.
The BB governor also maintained that the transaction volume on the network will grow slowly, as banks would have to explain the benefits of electronic payments to their clients.
He said education and marketing efforts are necessary to maximise capabilities of the network.
Dr Rahman added that EFTN is an integral component for reaching the goal of Digital Bangladesh, for financial services.

News: The Independent/Bangladesh/ Apr-06-2011