Bangladesh Krishi bank disbursed Tk 954.36 crore as loans in Khulna Division in the 2010-2011 fiscal year to boost the rural economy and generate employment through enhancing agricultural and non- agricultural production in the region.

Alongside disbursement of loans, the bank also realized Tk 533.19 crore as outstanding loans during the same period, officials said here Monday.
They said Khulna Krishi Bank has been functioning through two administrative divisions since 2009 to provide better services to the farmers. Khulna, Satkhira, Bagerhat, Jessore and Narail districts are functioning under Khulna Regional office while Kushtia, Jhenidah, Chuadanga, Meherpur and Magura districts are functioning under Kushtia Regional office under Khulna division.
Assistant general manager of Krishi Bank Kazi Baes Newaz told BSS that the Khulna administrative division of the bank set a target of disbursing Tk 522.26 crore as loans among 75,730 farmers and recovering Tk 287.60 crore through its 84 branches in the region while the bank disbursed Tk 517.33 among the farmers and recovered Tk 267.79 in the last fiscal year.

News: The Independent/ Bangladesh/ 12-Oct-2011

Pubali Bank Limited (PBL) has sanctioned Tk 200 million term loans to Phoenix Finance and Investments Limited for five years. An agreement in this regard was signed at Pubali Bank’s head office recently. Md Mosharraf Hossain, general manager of Pubali Bank’s principal branch and SM Intekhab Alam, managing director of Phoenix Finance and Investments Limited signed the agreement on behalf of their respective organisations at a simple ceremony, said a press release.

News: Daily Sun/ Bangladesh/ 12-Oct-2011

National Bank Ltd (NBL) signed remittance service deal with Qatar-based exchange house Islamic Exchange Co recently.

Under the arrangement, Bangladeshi expatriates living in Qatar will be able to send money home through electronically in a secured, prompt and efficient way, said a press release. Islamic Exchange Co. WLL is running remittance business since 1985. It has partnered with many banks of India, Pakistan and Sri Lanka.

NBL is the first Bangladeshi bank to sign agency agreement with this Islamic Exchange, the news release said.

News: Daily Sun/ Bangladesh/ 12-Oct-2011

City Bank has recently launched a service center for the American Express cardholders at Gulshan in the city.

The exclusive service center, the first of its kind, is manned by adequate personnel wholly dedicated to serving Amex cardmembers, said a press release.

Aziz Al Kaiser, chairman of City Bank, inaugurated the service center as chief guest.

K Mahmood Sattar, managing director and CEO, Sohail R.K. Hussain, additional managing director, Mashrur Arefin, deputy managing director, Zabed Amin, head of Retail Banking and other high officials of the bank, were also present on the occasion.

News: Daily Sun/ Bangladesh/ 12-Oct-2011

Mutual Trust Bank (MTB) recently signed an agreement with Islamic Exchange Qatar to receive remittances from Qatar.

Under the agreement, Bangladeshi expatriates who live in Qatar will be able to send their money securely and safely through Islamic Exchange Qatar, said a press release.

Quamrul Islam Chowdhury, deputy

managing director of

MTB and Yusuf P Hameed, CEO of Islamic Exchange Qatar signed the agreement on behalf of their respective organisations at a function at MTB Centre in the city.

Md Hashem Chowdhury, deputy managing director of MTB, AKM Shameem, senior executive vice president and head of

MTB’s NRB Banking Division and senior officials of both the companies

were also present on the occasion.

MTB customers, the beneficiaries of NRBs and visitors to Bangladesh will be able to receive money from any of the 68 branches of the bank in Bangladesh. This agreement will help boost remittance inflow in the country.

News: Daily Sun/ Bangladesh/ 12-Oct-2011