Dutch-Bangla Bank Limited (DBBL) has opened its 103rd branch at Borolekha, Moulvibazar on Tuesday.

KS Tabrez, managing director of the bank formally inaugurated the branch that is equipped with all facilities for providing on-line banking to the clients from the opening day of the branch, said a press release.

In his speech, KS Tabrez informed that DBBL will provide a wide array of banking products and financial services including card services to its retail and corporate customers. He further added that, the bank has started mobile banking operation, first of this kind in the country to reach banking services to the door steps of the millions of rural people.

News: Daily Sun/ Bangladesh/ 19-Oct-2011

A central bank spokesman has turned down the view that the economy is in bad shape, but admitted that increasing joblessness and low-inflow of remittances in the current fiscal year will remain major concerns. While briefing newsmen on behalf of governor Dr Atiur Rahman, the spokesperson dismissed the possibilities of further erosion of the economy saying that a number of economic indicators showed maintenance of a steady growth.
Pointing out a better balance of payment situation, he expected a decline in inflation.
He said food import cost will be lower this fiscal because of adequate food grains stock.
He said balance of payment pressure is becoming lower as exports continue to rise while the reserve of foreign currency also went up in the last couple of days, mainly due to significant gain in euro and gold price.
He said the gap between export and import is not big now.
Quoting the latest BB statistics, he said the reserve crossed US$10180 million on Wednesday.
The BB spokesperson maintained that inflation  would also come down next month, as the prices of commodities, including petroleum products, are declining in the international market.
On bank borrowing by the government, he said Tk. 8,130.58 crore has been borrowed, which is still within the limit as the target of borrowing this FY is Tk 19,000 crore.
"So, there is no reason to be panicked about the state of the economy. I would say, basically, the economy is in no mess, which has been reported by several dailies recently quoting some economists," the spokesperson told reporters Thursday.  
"We felt the need for talking to the media to uphold the genuine features of the economy as such maltreated reports triggered panic among the people," he said.
He said the liquidity crisis already eased by regulatory intervention to check banks' investment in unproductive sectors. He said the central bank has advised banks to borrow from external resources for private sector's large and medium scale projects.
On the capital market, the BB spokesperson said the market is fairly valued right now.
"What the regulator (Securities and Exchange Commission) can do is to take effective initiatives to mobilise portfolio investment by attracting investment from foreign private institutions and NRBs (non-resident Bangladeshis)," he said. 
Economists and business personalities have expressed deep concerns regarding the state of the economy by saying that the rising borrowing by the government from banking system would leave a negative impact on the private sector and accelerate inflation.

News: The Independent/ Bangladesh/ 14-Oct-2011

All the field level activities of Rajshahi Krishi Unnayan Bank (RAKUB) should be more proactive, transparent and accountable for implementing its objectives properly. Besides, importance should be given to bringing all the existing agricultural potential sectors and sub-sectors under qualitative and quantitative investments for making the region’s agro-based economy more vibrant.
The observations came at the 369th meeting of the Board of Directors of Rajshahi Krishi Unnayan Bank (RAKUB) held at its board room here on Wednesday with Board Chairman Prof Dr Shah Newaz Ali in the chair.
The meeting also noted that the bank’s administrative, operational and commercial activities must be farmers-friendly for boosting agricultural production.
For the sake of sustainable livelihood development of the farmers and for bolstering the agro-based economy, the meeting called for increasing the need-based credit flow so that the hopes and aspirations of the farmers in general are reflected properly.
The meeting discussed elaborately how to make the bank’s operational and commercial activities more dynamic through strengthening the credit support for both farm and non-farm prospective fields. Terming the farmers as a vital force for boosting up agricultural productivity the meeting expressed its commitment to protect the farmers’ interests as a whole.
Managing Director of the bank Prodip Kumar Dutta, Directors Khandaker Jahangir Kabir Rana, Abdul Mannan, Prof Rustam Ali Ahmed and Saidur Rahman attended the meeting.
Besides, Deputy Managing Director Siddiqur Rahman, General Manager Nozmul Hoque and Council-Secretary Aminul Islam Khandaker were also present. The meeting reviewed overall activities of the bank and took some important decisions relating to its operational and administrative matters.

News: The Independent / Bangladesh/ 14-Oct-2011

Pubali Bank Limited (PBL) joined hands with Metal (Pvt) Limited (MPL) on supplying agricultural equipments to farmers. A memorandum of understanding (MOU) on supplying Tk 1 billion equipments was signed between PBL and MPL at Pubali Bank’s head office in the city recently. Mosharraf Hossain, general manager of principal branch of PBL and Engr. Sadid Jamil, managing director of MPL signed the MoU on behalf of their respective organisations, said a press release. Under the MOU, a farmer can get loan to buy agricultural equipments from PBL on easy terms. Helal Ahmed Chowdhury, managing director, MA Halim Chowdhury, additional managing director, Mahbub Mustafizur Rahman, deputy managing director, Shanti Ranjan Sarkar, general manager of PBL, Engr. Aminul Islam, chairman of Metal (Pvt) Limited, Mizanur Rahman, Sirajul Islam, general managers of Metal (Pvt) Limited, among others, were present on the occasion.

News: Daily Sun/ Bangladesh/ 14-Oct-2011

Uttara Bank Limited shifted its Magura Branch to a new office.

Shaikh Abdul Aziz, Managing Director and CEO of the bank inaugurated the new office at MR Road of the district town recently.

Deputy Managing Director Md Fazlur Rahman, Executive General Manager Salim Nazrul Hoque and Zonal Head (Khilna Zone) Md Reaz Hasan also attended the function.

News: Daily Sun/ Bangladesh/ 14-Oct-2011