Broad Band Telecom Services Limited (BBTS), a joint venture of the Ispahani Group, will set up optical fibre network to connect Trust Bank Limited head office with its all branches across the country.

BBTS chairman Mirza Ali Behrouze Ispahani and Trust Bank Managing Director Shah A Sarwar singed an agreement to this effect on behalf of their respective organisations on Tuesday at a city hotel.

Under the agreement, BBTS will build a nationwide Wide Area Network (WAN) infrastructure through optical fiber/radio link to connect Trust Bank head office with its all branches and ATM booths.

The connectivity will help the Bank’s customers save time and cost, which is one step forward to get closure to its valued clients countrywide, said a press release. 

The Daily Sun/Bangladesh/ 10th Feb 2012

Bangladesh Bank has directed ocean-going ship importers to collect no objection certificates from the ship building and ship recycling board (SBSRB) of Industries Ministry instead of from the department ocean transport for opening LC (letter of credit) for ship imports.

The Foreign Exchange Policy Department (FEPD) of Bangladesh Bank on Thursday issued a circular in this regard.

The decision was made in view to discouraging import of ocean-going ships to Bangladesh which is considered to pose threat to the environment as well as human health.

The no-objection certificates will have to be taken as per the ship breaking and ship recycling guidelines-2011, issued by the Industries Ministry on December 12, 2011, the circular said.

The Daily Sun/Bangladesh/ 10th Feb 2012

Bangladesh Bank sits with the managing directors (MDs) of all the banks operating in the country on Thursday to discuss the overall situation of the banking sector.

The meeting will start at 11am at the BB conference room with governor Dr Atiur Rahman in the chair, BB general manager AFM Asaduzzaman said on Wednesday. 

The meeting is likely to focus on the steps taken by the central bank, Asaduzzaman said adding that it will also review whether the banks are following the instructions of the central bank. 

The Daily Independent/Bangladesh/ 9th Feb 2012

Muhammad Ali, MD of SIBL, AMM Farhad, DMD and M Shams-Uddin Ahmed, EVP, Md Tahirul Islam, principal of the SIBL Training Institute pose for photograph at a function in the city recently

Social Islami Bank Limited (SIBL) Training Institute handed over certificates to the participants of ‘Foundation Course in Banking’.

Muhammad Ali, SIBL’s managing director (MD), distributed the certificates at a function at the Bank’s head office in Dhaka recently, says a press release.

AMM Farhad, deputy managing director (DMD) and M Shams-Uddin Ahmed, executive vice president (EVP), were also present at the function chaired by Md Tahirul Islam, principal of the SIBL Training Institute.

The Daily Sun/Bangladesh/ 9th Feb 2012

Bangladesh Bank yesterday refuted the media reports that claimed fake notes worth of Tk 5,000 enter the country's market every day, and one in every three to four notes is fake.

The BB issued a statement following the comments madeby analysts at a roundtable that said the circulation of fake currency is gradually increasing.

"It is not true as it is inconsistent with the reality,” the central bank said in the statement.

The country has a total of Tk 68,000 crore worth of authentic currency in the economy, the banking regulator said, adding that it would be fearful if Tk 5,000 crore worth of fake notes is in circulation out of Tk 68,000 crore.

The regulator yesterday checked the volts of four banks to identify the fake notes. It examined around 9.07 lakh pieces of Tk 100 and Tk 500 notes. But it did not find any fake note.

Prof Abul Barakat, chairman of Janata Bank, said on Monday, “Fake notes worth Tk 5,000 crore, in denomination of Tk 500, are coming into the market everyday and one third or fourth of those notes are fake.”

Abdul Jalil MP, chairman of Mercantile Bank, said the country's economy cannot be a middle-income country or self-reliant until fake notes are wiped out from the market.

The central bank is strictly monitoring to prevent the circulation of fake currencies in the economy, according to the statement.

It said the central bank has already taken a number of measures, including formation of taskforce, visiting volts of commercial banks, strengthening security features and arranging mass awareness against fake notes.

The Daily Sun/Bangladesh/ 9th Feb 2012