Bangladesh Bank (BB) will gradually circulate 395 crore new notes of different denominations with the portrait of Bangabandhu Sheikh Mujibur Rahman.

It will also issue 60 crore such new coins of Tk 5 denomination.

The central bank will release eight crore banknotes, of the 395 crore new notes, before Eid-ul-Fitr. The notes in the denominations of Tk 2, Tk 5, Tk 10, Tk 20, Tk 50, Tk 100, Tk 500 and Tk 1,000 will be available at all offices of the central bank.

"We plan to release 230 crore new notes in the first phase and 165 crore in the second phase," said Mohammad Masum Kamal Bhuiyan, general manager of BB's currency management and payment system department.

Prime Minister Sheikh Hasina launched the new banknotes on Thursday.

BB will release 70 crore notes of Tk 2, 30 crore notes of Tk 5, 50 crore of Tk 10, 35 crore of Tk 20 and 15 crore of Tk 50 notes.

There will also 75 crore notes of Tk 100, 70 crore notes of Tk 500, and 50 crore banknotes of Tk 1,000.

The notes are being printed with ink and other materials imported from Germany. A Finland-based company has got the contract to supply the Tk 5 coins. Each of the coins will cost Tk 1.74.

Along with the new banknotes, all existing paper notes in the same denominations will also remain in circulation.

News: The Daily Star/ Bangladesh/ Aug-15-2011

A daylong workshop on “collection and distribution of foreign remittance and increase of remittance business” was held in the Pubali Bank head office, organised by its Information Technology Division recently, says a press release. Managing director of Pubali Bank Helal Ahmed Chowdhury was present as chief guest.
Additional managing director MA Halim Chowdhury and deputy managing director Mahbub Mustafizur Rahman were present as special guests.
General manager and chief technical officer of IT division Mohammad Ali presided over the workshop.
Helal Ahmed Chowdhury said that foreign exchange business increased substantially from previous year for priority services and still there are opportunities to acquire more business in respect to  potentiality.
He emphasised exploration and expansion of foreign remittance business by maintaining regular contacts with importers and exporters.

News: Daily Sun/ Bangladesh/ Aug-15-2011

Eastern Bank Limited (EBL) has recently opened its 50th branch at the Chittagong Export Processing Zone (CEPZ).

Customers of the bank will avail a wide range of banking services at the branch as it is equipped with ultra-modern baking facilities, said a press release.

Meah Mohammed Abdur Rahim, director of the bank, formally inaugurated the branch at Saleh Complex at the industrial zone on Sunday.

The bank’s Managing Director and Chief Executive Officer Ali Reza Iftekhar, Depty Managing Director Moklesur Rahman, brand and marketing Head Ziaul Karim and Md. Musa, manager of the new branch, among others, were present on the occasion.

The EBL will open nine more branches at various parts in the country during the current fiscal, the statement said.

News: Daily Sun/ Bangladesh/ Aug-15-2011

Dutch-Bangla Bank Limited (DBBL) has opened its 101st branch at Ambarkhana in Sylhet recently. Customers of the bank will avail most up-to-date online banking facilities at the branch like other branch network of the bank, said a press release.

KS Tabrez, managing director of the bank, formally inaugurated the branch at Laise Super Market in the Sylhet city’s Kotwali area on Sunday. Prof Md Saleh Uddin, vice-chancellor of Shahjajal University of Science and Technology (SUST), among others, was also present on the occasion.In his speech, Tabrez said DBBL provides a wide array of banking products and financial services including card services to its retail and corporate customers in the country. The bank has started mobile banking operation, first of this kind in the country to reach banking services to the door steps of rural people in the country. The bank also provides enhanced banking services to its customers through a variety of delivery channels like ATMs, Fast Tracks besides branch networks at important places in the country, he added. SUST VC Saleh Uddin said the bank is not only fulfilling present-day customer needs but also the bank spends a significant portion of its profit towards wellbeing of the society.

News: Daily Sun/ Bangladesh/ Aug-15-2011

City Bank has declared 30 per cent stock dividend for its share holders for the year 2010.

The board of directors of the bank approved the dividends at its 28th Annual General Meeting (AGM) at Bashundhara Convention Center in the city on Sunday, said a press release.Aziz Al Kaiser, chairman of the bank, chaired the meeting while the bank’s Vice Chairman Hossain Mehmood, Directors Hossain Khaled, Rajibul Huq Chowdhury, Rafiqul Islam Khan, Mobarak Ali and Managing Director and Chief Executive Officer Kazi Mahmood Sattar, and a large number of shareholders were also present on the occasion. In his speech, Aziz Al Kaiser said the bank has taken a number of measures according to the guideline of Bangladesh Bank, the central bank of the country.

In the long run, the measures will make the bank a stable in banking business in the country, he added.“The suggestions given by the shareholders will help us to formulate the business policy and ensure faster growth and development of the bank,” he said.

News: Daily Sun/ Bangladesh/ Aug-15-2011