Seven officials of the state-owned commercial banks were promoted to Deputy Managing Directors (DMDs).

The banking division of the finance ministry in a circular on Thursday has also transferred three DMDs. According to the circular, general manager (GM) of Bangladesh Krishi Bank (BKB) Manjorul Ahmed was promoted to DMD of the same bank.

GM of Karmoshangsthan Bank MD Delwar Hossain Bhuyian was promoted to DMD and was posted in Bangladesh Development Bank Limited (BDBL). GM of BKB A M Asraf Uddin Khan was promoted to DMD of Rupali Bank, while GM of Agrani Bank MD Obidullah Al-Masud was made DMD of the same bank .

GM of Agrani Bank Omar Faruk was promoted to DMD of Janata Bank. GM of BKB Musharraf Hossain Chowdhury was promoted to DMD of Rajshahi Krishi Unnayan Bank. GM of Agrani Bank AKM Mujabur Rahman was promoted to DMD of the same bank.

Besides, DMD of Agrani Bank was transferred to Janata Bank at same position. DMD of Rajshahi Krishi Unnayan Bank MD Sidddqur Rahman was transferred to Janata Bank while DMD of Sonali Bank (UK) Khandokar MD Iqbal was transferred to the same bank.

Source: The Daily Sun/ Bangladesh/ 18th Nov 2011

Md Abdul Jalil MP, chairman of Mercantile Bank, inaugurates the Bank's 66th branch at Damudya in Shariatpur recently.
AKM ShahidulHaque, managing director, was also present

Source: The Daily Star/ Bangladesh/ 18th Nov 2011

Bank Asia Chairman A Rouf Chowdhury presides over the Bank's eighth extraordinary general meeting at the Institution of Diploma Engineers in the capital yesterday.

The Bank  approved the change in the denomination of its each share's value from Tk 100 to Tk 10.

Vice Chairman Mohammad Lakiotullah, Managing Director Md Mehmood Husain and Directos Rumee A Hossain, Mashiur Rahman, Faisal Samad, Nafees Khundker and Shah Md Nurul Alam were also present.

Source: The Daily Star/ Bangladesh/ 18th Nov 2011

A convertible coupon bond for Tk 200 crore from Standard Bank Limited will hit market soon.Such bond is 50 percent convertible.

The 27th extra-ordinary general meeting of Standard Bank Ltd , which was held at the Institute of Diploma Engineers of Bangladesh on Monday, unanimously approved the issuance of the bond, according to a press release.

Chairman of the board of directors Kazi Akramuddin Ahmed presided over the meeting. The meeting also endorsed enhancement of the authorised capital from 880 crore to 1,500 crore and converting the bank's share face value from Tk 100 to Tk l0. 

The meeting was attended by directors Kamal Mostafa Chowdhury, Muhammad Nurul Islam, Ashok Kumar Saha, Ferozur Rahman, Mohammed Abdul Aziz, Mohammad Shamsul Alam, Abdul Ahad, Shaikh Mesbah Uddin and Sahazada Syed Nizamuddin Ahmed. Managing director SA Farooqui, deputy managing director Md Alauddin AI-Azad, assistant managing director Md Nazmus Salehin, and board secretary AFM Nizamul Islam Chowdhury were also present.

Source: The Independent/ Bangladesh/ 17th Nov 2011

Mercantile Bank Limited, the country’s leading 3rd generation bank, has introduced two new deposit schemes, aiming to encourage people towards savings.

The two new products are -- ‘Monthly Deposit Scheme-3 Years’ and ‘Special Saving Scheme’.

Md Abdul Jalil, chairman of the Bank, formally launched Tuesday these products as part of the Bank’s month-long special deposit mobilisation campaign.

Jalil elaborated the benefits of the two new saving schemes and claimed that these new products would secure depositors’ future financial status. 

AKM Shahidul Haque, the Bank’s managing director and chief executive officer, MS Ahsan,  chairman of the  executive committee, M Amanullah and AKM Shaheed Reza -- the two directors --, Md Abdul Jalil Chowdhury, Monindra Kumar Nath, MA Yousuf Khan, Md Quamrul Islam Chowdhury and Choudhury Mostaq Ahmed – the deputy managing directors --, were present.

Source: The Independent/ Bangladesh/ 17th Nov 2011