Global Finance’s latest report rates three central bank chiefs “A”

DHAKA, SEPt 23: Bangladeshis living and working abroad sent home $2.25 billion in the first two months of the current fiscal, the country's central bank data showed Monday.

According to Bangladesh Bank (BB) data, the flow of inward remittances plunged over 14.46 percent year-on-year to $1,008.20 million in the last month, Xinhua reported. Remittances, one of the key sources of foreign exchange for the impoverished nation, in July were $1,238.96 million, it showed.

The inflow of remittances from nearly nine million Bangladeshis in the 2012-13 fiscal, which concluded in June, reached a record high of nearly $15 billion, about 13 per cent higher than a year ago, the BB data showed.

Most of the remittances came from Saudi Arabia, the United Arab Emirates, the United States, Kuwait, 
Britain, Malaysia, Oman, Qatar, Singapore, Bahrain, Italy and Australia, acording to the bank. 
The country witnessed the record high remittance inflow in the just-ended fiscal year (2012-2013) of $14460.52 million.

“It’s the highest amount of remittance that the country ever received in a year,” Bangladesh Bank official said.  
He said Bangladesh had received $ 12,843.43 million remittance in 2011-2012 fiscal year, which was $ 11,650.31 million in 2010-2011 fiscal year. 

240.36 million remittance received the country from state-owned commercial bank’s channel, 8.82 million from specialised bank’s, 455.52 million from the private commercial bank’s (PCB) chanel and 9.90 million from the foreign commercial bank’s chanel.

Among the PCB channel, Islami bank received the highest remittance worth of $ 165.75 million. 

  
Bangladesh Bank permits banks in Bangladesh to establish drawing arrangements with Foreign banks and Exchange houses for facilitating remittance by Bangladeshi nationals living abroad.

Persons willing to remit their earnings through official channels can buy either Taka draft or US dollar draft from these Foreign banks and Exchange houses having drawing arrangements with different banks in Bangladesh.

Bangladeshi nationals living abroad can send Foreign Exchange very easily and directly to their own bank accounts maintained in Bangladesh or to their nominated person's / relative's bank accounts in Bangladesh.

Furthermore, recently banks have taken some major steps towards crediting the proceeds of remittances to the beneficiary's account promptly, maximum by 3(three) days.

Ludwig Schulze, CEO of Mistral and Mohammed Moazzem Hossain Khan, Head of IT Development Division of DBBL, seen signing an agreement in Dhaka recently.

Dutch-Bangla Bank (DBBL) will soon launch “Agent Banking Services” using an Agent Banking System (ABS) for providing banking services to another segment of customers who cannot write and sign, and does not possess any mobile phone.

In this regard, an agreement has been signed between DBBL and Mistral recently in Dhaka.

Ludwig Schulze, CEO of Mistral and Mohammed Moazzem Hossain Khan, Head of IT Development Division of DBBL signed the agreement on behalf of their respective organisations.

DBBL has been providing banking services through its Core Banking System (CBS) to a segment of customers who can write and sign a cheque or can operate ATM using debit cards and through its Mobile Banking System (MBS), said a press release.

The Agent Banking System will be supplied and installed at DBBL by Mistral MFS Ltd – a Finland based company.

Bangladesh Development Bank Limited (BDBL), a state run specialized bank, is on the top in terms of camel, risk and credit ratings among the country’s all state-owned banks.

Managing Director of the bank Dr Md Zillur Rahman said this while presiding over a workshop on ‘Diagnostic Workshop on Income, Expenditure, Deposit, Advance and Recovery of Classified Loans’ at the bank’s Training Institution here on Saturday, said a release on Sunday.

BDBL Chairman Educationist Professor Santi Narayan Ghosh spoke on the occasion as the chief guest while director and Additional Secretary of the Ministry of Finance Amolendu Mukharjee and director Kazi Morshed Hossain Kamal took part in the discussion.

Heads of all regional and branches and high officials of the bank also joined the workshop.

Professor Santi Narayan called upon the participants to put in their best efforts to make the bank’s all branches profitable.

Dr Zillur rahman said the BDBL has achieved remarkable success in various fields despite manifold problems in he country’s banking sector.

He stressed the need for further attention for realization of outstanding loans and distribution of loans for new projects.

The BDBL MD also directed the branch managers to increase loans for SME sector and keep default loans under 30 per cent by December next. — BSS

The Anti-Corruption Commission yesterday filed two separate cases against the owners of two business entities and five officials of Bangladesh Commerce Bank Ltd for misappropriating more than Tk 28 crore from the bank.

SB Group, in connivance with the bank officials and a surveyor — Rafid Inspection, swindled Tk 25 crore from the bank showing forged documents of lands used as mortgage, according to one of the case statements.

The Anti-Corruption Commission yesterday filed two separate cases against the owners of two business entities and five officials of Bangladesh Commerce Bank Ltd for misappropriating more than Tk 28 crore from the bank.

SB Group, in connivance with the bank officials and a surveyor — Rafid Inspection, swindled Tk 25 crore from the bank showing forged documents of lands used as mortgage, according to one of the case statements.