Md Shamsul Haque, deputy managing director, operations wing of Islami Bank, attends a clients’ gathering organised by the corporate branch of the Bank at Islami Bank Tower in the city recently.

Islami Bank Bangladesh Limited (IBBL) recently organised a clients’ gathering at Mohammad Younus Auditorium of Islami Bank Tower in the city.

The function was arranged as part of the Bank’s “100 days of Building Bridge” programme aims at ensuring banking service for all the people of the country, said a press release.

Muhammad Mohan Miah, EVP and head of the Bank’s corporate branch, presided over the function.

Md Shamsul Haque, deputy managing director, operations wing of Islami Bank, attended the function as chief guest while Md Nurul Islam, deputy managing director of International banking wing of the Bank, was present as special guest.

The Daily Sun/Bangladesh/ 25th Jan 2012

The newly appointed Deputy Governors of the Bangladesh Bank (BB) took over their charges on Tuesday.

BB Governor Dr Atiur Rahman, its Deputy Gover-nors and senior Consultants sat in a meeting in the morning where the Governor greeted the new DGs and also shared several relevant issues with them.

Heads of various government and private banks and financial institutes also greeted the new DGs.

Meanwhile, the duties and responsibilities of the new DGs have already been distributed.

Newly appointed Deputy Governor-1 M Abul Kashem will be responsible for Common Services Depart-ment, Currency Manage-ment and Payment Systems Department, Accounts and Budgeting Debt Manage-ment Depart-ment, Special Studies Cell, SME and Special Programs Depart-ment, Printing Publication Department as well as Expenditure Management and IPFF Project.

The departments under the DG-2, Abu Hena M Razee Hasan include Offsite Supervision Department, Statistics Department, Monetary Policy Depart-ment, Anti Money Laundering Department, Bank Inspection Depart-ment 1, 2, 3 and Foreign Currency Inspe-ction and Vigilance Department.

The Daily Sun/Bangladesh/ 25th Jan 2012

Abdul Haque-Naushad Ali

Md Abdul Haque and Mohammad Naushad Ali Chowdhury, general managers of Bangladesh Bank, were promoted to Executive Directors. The central bank on Monday announced the promotion.

Md Abdul Haque joined the central bank as Assistant Director in July 1981. After joining he worked in many departments including BCD (at present BRPD), DBI, FEPD, ACSPD (ACD+SME), CBSP, FRTMD.

Prior to his new assignment, he was General Manager of newly formed department of the central bank - Deposit Insurance Department (DID).

Mohammad Naushad Ali Chowdhury, was the GM of Bangladesh Bank Chittagong office. During his long career in Bangladesh Bank, he attended different seminars and workshops on Banking issues in different countries including USA and UK.

Prior to his new assignment, Chowdhury worked at different departments of head office as well as branch offices of the central Bank.

The Daily Sun/Bangladesh/ 25th Jan 2012

Abdul Haque-Naushad Ali

Md Abdul Haque and Mohammad Naushad Ali Chowdhury, general managers of Bangladesh Bank, were promoted to Executive Directors. The central bank on Monday announced the promotion.

Md Abdul Haque joined the central bank as Assistant Director in July 1981. After joining he worked in many departments including BCD (at present BRPD), DBI, FEPD, ACSPD (ACD+SME), CBSP, FRTMD.

Prior to his new assignment, he was General Manager of newly formed department of the central bank - Deposit Insurance Department (DID).

Mohammad Naushad Ali Chowdhury, was the GM of Bangladesh Bank Chittagong office. During his long career in Bangladesh Bank, he attended different seminars and workshops on Banking issues in different countries including USA and UK.

Prior to his new assignment, Chowdhury worked at different departments of head office as well as branch offices of the central Bank.

The Daily Sun/Bangladesh/ 25th Jan 2012

Bangladesh Bank (BB) has rejected a time extension proposal of state-owned Sonali Bank, which sought amortisation process of its accumulated loss of Tk 54.38 billion in next 19 years instead of government-set time period of 10 years.

When the national commercial bank was turned into company in the year 2007, its accumulated losses were estimated at Tk 54.38 billion. At that time the central bank had asked the bank to pay back the amount in next 10 years through its annual profits.

But recently, as per a 20-year development plan of Sonali, it sought to repay the amount in next 19 years, instead of previously fixed 10 years, sources said.

Amortisation means a periodic payment plan to pay a debt or accumulated loss in which the interest and a portion of the principal is included in each payment by an established mathematical formula and the accumulated loss amount is treated as goodwill BB rejected the proposal of Sonali to extend the time as such time extension will not create usefulness for the country’s largest state-owned bank, a senior Banking Division official said on Tuesday.

The official also said the huge accumulated loss of Sonali will turn into goodwill through amortisation process within next 10 years.

Credit and Sick Industry Branch of BB sent a letter to the Banking Division last week on the issue.

Earlier, Managing Director and Chief Executive Officer of Sonali Bank, M Humayun Kabir, through a proposal sought time extension of the amortisation of losses in next 20 years.

According to the proposal sent to finance ministry, Sonali wanted to amortise a loss of Tk 54.38 billion against yearly its profit earning in next 19 years with yearly amortisation of Tk 2.86 billion.

Sonali amortised Tk 2.86 billion of its yearly profit against accumulated loss in 2010, Tk 5 billion in 2009, and Tk 3.50 billion in 2008, said the proposal.

When contracted over phone on Tuesday, Sonali Bank MD and CEO Md Humayun Kabir declined to comment on the matter.

The risk assets of Sonali remained at an alarming stage in the first nine months of 2011( January-September period) calendar year because of weak recovery of its default loans and high borrowings from the call money market.

As per the report, risk assets of Sonali decreased by 9.71 per cent in 2011 compared to Tk 326.90 billion in 2010 calendar year.

According to statistics, in October 2011, Sonali had risk–based assets worth Tk 326.90 billion.

The Daily Sun/Bangladesh/ 25th Jan 2012