KS Tabrez, Managing Director of Dutch-Bangla Bank Limited, addresses the inaugural function of a workshop on green banking at the Bank’s Training Wing in the city recently.

Dutch-Bangla Bank Limited (DBBL) held a workshop on ‘Green Banking Policy and Environmental Risk Management’ at its Training Wing in the city recently.

The workshop trained the Bank officials on the way they can exercise green banking in a more sustainable manner, said a press release. KS Tabrez, DBBL’s managing director, formally inaugurated the workshop administered by Khondakar Morshed Millat, joint director of Bangladesh Bank, as resource person.

The Bank’s MD said a truly green bank will reduce carbon footprint by making its branches more competent in implementing energy-efficient operational procedures. “DBBL, being socially responsible, has already taken various initiatives in this regard,” he added. The Bank’s deputy managing director Sayedul Hasan and executive vice president Mohd. Rafat Ullah Khan, among others, also attended the inaugural function.

The Daily Sun/Bangladesh/ 20th Feb 2012

Bangladesh Bank (BB) has advised leasing and finance companies to collect their necessary funds from bond market and take support from the central bank’s revolving fund through increasing their investment in agriculture sector.

“We’ve advised financial institutions to issue bonds to collect their funds for investment,” BB Deputy Governor SK Sur Chowdhury said while briefing journalists after a meeting with Bangladesh Leasing and Finance Companies Association (BLFCA) here yesterday.

BB Governor Dr Atiur Rahman presided over the meeting. During the meeting, the BLFCA proposed to get access to the government fund, Sur Chowdhury said, adding that BB supported this proposal and requested the authorities concerned to consider this proposal positively.

He said financial institutions could borrow funds from sources abroad maintaining the existing rules and regulations. “We’re thinking how they can easily collect such funds from foreign sources,” he added.

Dr Atiur yesterday sought cooperation from financial institutions for expansion of the country’s bond market, saying that the central bank has given special attention for the development of bond market, especially in private sector.

The Daily Sun/Bangladesh/ 20th Feb 2012

Bangladesh Bank Governor Dr. Atiur Rahman speaks to the NBFI chiefs at the BB conference room in the city on Sunday.

The central bank will take measures to develop a strong bond market for the private sector financial instructions to create opportunity for collecting more funds through issuing bonds.

Bangladesh Bank Governor Dr. Atiur Rahman sought cooperation from the Non-Banking Financial Institutes (NBFI) in this regard during a meeting with the chief executives of the country’s NBFIs on Sunday.
The meeting between NBFI chiefs and Bangladesh Bank was held at the BB conference room.

The meeting, presided over by the BB governor, discussed important issues relating to development of bond market, minimum term of deposit collection, deposit Insurance Coverage and bank-imposed interest rate on term loans.

The meeting revealed that three institutions had issued asset backed Securitisation Bonds of Tk 1.71 billion (2004 to 07) while five institutions issued Zero Coupon Bonds worth Tk 8.50 billion (2001-08).

The BB Governor told the meeting that the private sector institutions, particularly the Insurance Companies, were not making any such investment in local bonds. Besides, the opportunity of expanding the Islamic Bond Market was not possible to accept to that level.

In response to a proposal of the NBFI chiefs to keep the minimum term of deposit collection at 6 months, Atiur felt that the proposal was irrational and said the existing term would be keep intact.

He said the Deposit Insurance Department would immediately take initiatives to bring the financial institutes under the deposit insurance act.

The governor however said the central bank would extend its cooperation regarding the tax rebate of DPS, mentioning that the National Board of Revenue (NBR) can consider the issue.

He also mentioned that for the first time, a separate chapter on the activities of the financial institutions has been added in the annual report (Chapter-6) of Bangladesh bank.

The Daily Sun/Bangladesh/ 20th Feb 2012

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) opposed the banks' decision to increase interest rate on already disbursed loans.

President of the country's apex business body FBCCI Mr A K Azad Saturday said that the banks were demanding more than 18 per cent interest on the already disbursed loans.

"Banks have been charging 18 to 19 per cent interest on the loans given two years back which is not at all logical," he said.

The FBCCI chief said this while addressing a programme on "Modernising Agriculture and Agricultural Produces, Meeting Domestic Demand and Expanding Export" organised by Bangladesh Agricultural Product Producers and Merchants Association (BAPMA) held at the conference hall of the Federation in the capital.

Opposing the decision of the Bangladesh Association of Banks (BAB) Mr Azad said, the BAB decided that they would give 12.5 per cent interest to depositors and would take 15.5 per cent interest from the borrowers.

"But the decision will also hurt the struggling industries as the interest rate for the borrowers is higher," he said.

He also criticised the hit- and- miss circulars by the Insurance Development and Regulatory Authority (IDRA), Bangladesh saying that those are hampering the country's business stability.

Mr Azad also said only 100 men of the country has taken nearly Tk 400 billion from the banks recently which has also hurting the rest of businesses in the country.

Talking on the agricultural product marketing the FBCCI head emphasised on modern packaging and transportation system to reduce post harvest losses.

He said, "North Bengal should be prioritised for agro-based industries as the region is now producing more than 50 per cent of our total food demand".

Criticising failures of Trading Corporation of Bangladesh (TCB) Mr Azad said that the government should leave TCB under PPP to strengthen it and ensure food at fair price to the consumers.

Commerce minister GM Quader while addressing the programme as the chief guest said TCB will be strengthened further and the government intervention will remain in food market to protect the market from uneven competitions.

He said, TCB is now contributing only 3.0 per cent of food products which is very small. It should be increased, he added.

Talking on the increased interest rate by the banks on old loans he assured the businesses that he would place it to the government.

UNB adds: Admitting the prevalence of extortion at every point, GM Quader said it is the extortion not middlemen that pushes up the prices of essentials at consumer level.

"Manipulators are there…middlemen will also be there, but extortion at every point -- production to consumer level -- raises the prices of basic goods," he told a seminar in the city.

Quader, the lone Jatiya Party (JP) representative in the Cabinet, thinks it is happening for lack of good governance and accountability. "We need to stop the extortion at any cost…to make that happen, we need to ensure good governance."

FE report further adds: While explaining food security he said, a country can be called as food secured country only when it is self -sufficient in staple food items.

He said we have to increase production in a limited land space to ensure food security in the country.

FBCCI first vice president Md Jashim Uddin stressed the need for processing a particular food item which will be available round the year.

"It would also ensure fair price to the farmers," he said.

President of Bangladesh Supermarket Owners' Association (BSOA) and group director of Rahimafrooz Mr Niaz Rahim emphasized on information dissemination for the growers to maintain quality of raw agricultural produces.

FBCCI vice president Mr Mostofa Azad Chowdhuri Babu expressed his opinion that every district should have a separate industrial zone to protect farm lands and ensure food security.

Standard Bank Ltd chairman Md Aqramuddin Ahmed said that his bank was very much interested in providing loan to the farmers and small businesses in North Bengal.

He commented that the poor never default loan which the rich men do.

BAPMA president Mr Ruhul Amin who chaired the programme said, "WTO's irrational conditions and intervention of multinational companies are threatening our agriculture and we have to protect it from any intervention to secure food sovereignty of the country".

Post harvest quality expert Dr Sale Ahmed presented a paper which revealed that the country would need 30 per cent more rice by 2025 than the present quantity.

Besides rice, we will also require additional 6.5 million tonnes of vegetables, 1.5 million tonnes of fruits, 2.0 million tonnes of fish, 1.5 million tonnes of meat and 2.6 million tones of milk by the time, the paper said.

Transportation and storage expert Dr Sreekanta Sheel presented a paper which revealed that the country incurs a loss of 1.825 million tonnes of fruits and vegetables worth Tk 26.29 billion due to post harvest mismanagement.

The paper suggested modernisation of packaging system from growers level to the retail level in the cities.

Chief scientist of floriculture at Horticulture Research Centre Dr Kobita Anzuman- Ara presented a paper on floriculture which showed a great prospect of flower export from Bangladesh.

Chairman of Bangladesh Cold Storage Association Md Jasim Uddin, director of Bangladesh Rice Exporters Association Md Ishaqul Hossain Sweet among others also spoke.

Financial Express/Bangladesh/ 19th Feb 2012

Bangladesh Bank is all set to release new notes of Tk 10, Tk 20 and Tk 50 denominations bearing the image of Bangabandhu Sheikh Mujibur Rahman on Monday.

The newly designed notes would initially be circulated from the central bank’s Motijheel office and would be available at all branches and banks later on, its general manager A F M Asaduzzaman told bdnews24.com on Saturday.

The notes would also bear images of important architectures of the country.

The Indepedent/Bangladesh/ 19th Feb 2012