BRAC Bank recently signed a Memorandum of Under-standing (MoU) with Kazi Farms Group to provide Cash Management solution to Kazi Farms Group (KFG) which will facilitate the distributors of KFG with more systematic, improved and efficient nationwide collection system through BRAC Bank’s 144 on-line branch networks.

Kazi Zeeshan Hasan, Director, Kazi Farms Group and Khwaja Shahriar, Head of Cash Management, Custodial Services and Probashi Banking, BRAC Bank signed the MoU on behalf of the respective organisations.

Syed Mahbubur Rahman, managing director and CEO, BRAC Bank, Kazi Zahedul Hasan, managing director, Kazi Farms Group and other senior officials of both the organisations were present.

News: Daily Sun / Bangladesh/ jan-28-2011

A daylong training workshop on ‘Online Credit Information Bureau (CIB)’ was recently organised by Dhaka Bank Training Institute (DBTI).

A total of 71 officers from different branches and head office of the bank took part at the training workshop.

Neaz Mohammad Khan, deputy managing director, Dhaka Bank Limited addressed the inauguration as the chief guest.

Md Mehedi Hasan, joint director (system analyst) of Credit Information Bureau of the Bangladesh Bank conducted the training session.

Shamshad Begum, Principal of the institute and Head of HRD also spoke on the occasion.

News: Daily Sun / Bangladesh/ jan-28-2011

The first conference for the year 2011 of regional and corporate branch managers of Pubali Bank Limited was held at bank's head office recently, said a press release.

Vice-chairman of PBL Habibur Rahman, directors of PBL Sk Wahidur Rahman, Syed Moazzem Hussain, Muhammed Kabiruzzaman Yaqub were present as guest while managing director Helal Ahmed Chowdhury presided over the meeting.

In his speech vice-chairman of PBL Habibur Rahman emphasised on expansion of foreign remittance business through better customer and modern banking service. He also advised all to work hard, look for new business avenues and diversification and to take concerted efforts for achieving the target fixed for the year 2011.

Other directors underscored the need for increased utilisation of the modern information technology for qualitative improvement in the overall customer service of PBL as the bank has to operate in a highly competitive banking sector.

Managing director of Pubali Bank Securities Limited (PBSL) M Rafiqul Islam, deputy managing directors Khurshid-UI-Alam, Mahbub Mustafizur Rahman, MA Halim Chowdhury and Safiul Alam Khan Chowdhury, general managers and other senior executives of head office were present at the conference.

News: Daily Sun / Bangladesh/ jan-28-2011

The economy of the country posted 5.8 per cent real GDP growth during the last fiscal (2009-10), which was largely internal-demand driven. In view of the internal and external sector developments, the 6.7 per cent real GDP growth targeted in the national budget of current fiscal is well within reach, according to the highlights of Bangladesh Bank annual report 2009-10.
In its near and medium term outlook for the current fiscal, the report said that the main near term risk is the persistent shortages of power and gas supplies, disrupting production in installed capacities and slowing down investments for new capacities.
It said that near and medium term growth prospects for the economy now hinge crucially on implementation of the government’s plan to eliminate energy shortages by adding as fast as possible new generation capacities with private and public sector
outlays.
“Significant external sector risk factors to medium term growth outlook include the recent declining trends in FDI and manpower exports.”
“Foreign direct investment inflows are likely to pick up in step with global growth recovery, but can be hastened by forging closer trade and investment ties with the fast growing economies in the East and South Asia, bilaterally as well as regionally.”
On the supply side for fiscal 2009-10, the report mentioned that the growth was underpinned by overall robust growth in the agriculture and service sectors accompanied by a modest growth in the industry sector.
It showed that the agriculture sector grew by 4.7 per cent during the last fiscal compared to 4.1 per cent in the previous fiscal (2008-09).  The growth rates for the industry and services sector were 6.0 and 6.4 per cent respectively in fiscal 2009-10 while 6.5 and 6.3 per cent respectively in fiscal 2008-09.
The Bangladesh economy maintained growth momentum despite deceleration in the export growth and investment initiatives, continuing with its resilient response to the global economic slowdown.
According to the report, the 12-month average Consumer Price Index (CPI) inflation rate increased to 7.3 per cent at the end of 2009-10 fiscal compared to 6.7 per cent at the end of fiscal 2008-09.
On the other hand, point-to-point CPI inflation rate stood at 8.7 per cent at the end of 2009-10 fiscal, which was 2.3 per cent at the end of fiscal  2008-09.
The 12-month average CPI food inflation rate rose to 8.5 per cent at the end of fiscal 2009-10 compared to 7.2 per cent at the end of fiscal 2008-09. Non-food inflation rate fell to 5.5 per cent at the end of fiscal 2009-10 as against 5.9 per cent at the end of 2008-09.
Money and credit developments:
The Bangladesh Bank pursued accommodative monetary policy stance during the fiscal 2009-10 with a view to promoting investment and productive economic activities and sustaining domestic demand against the backdrop of the global recession.
The broad money (M2) growth during the 2009-10 fiscal was 22.4 per cent, which was 19.2 per cent in the preceding fiscal.
The credit to the public sector declined sharply by 5.2 per cent during the 2009-10 fiscal compared to 20.3 per cent growth in the fiscal 2008-09. Reduced Annual Development Programme (ADP), higher revenue receipts and foreign grants and loans were mainly responsible for the fall in the credit to the public sector. 

News: The Independent/ Bangladesh/ jan-27-2011

The economy of the country posted 5.8 per cent real GDP growth during the last fiscal (2009-10), which was largely internal-demand driven. In view of the internal and external sector developments, the 6.7 per cent real GDP growth targeted in the national budget of current fiscal is well within reach, according to the highlights of Bangladesh Bank annual report 2009-10.
In its near and medium term outlook for the current fiscal, the report said that the main near term risk is the persistent shortages of power and gas supplies, disrupting production in installed capacities and slowing down investments for new capacities.
It said that near and medium term growth prospects for the economy now hinge crucially on implementation of the government’s plan to eliminate energy shortages by adding as fast as possible new generation capacities with private and public sector
outlays.
“Significant external sector risk factors to medium term growth outlook include the recent declining trends in FDI and manpower exports.”
“Foreign direct investment inflows are likely to pick up in step with global growth recovery, but can be hastened by forging closer trade and investment ties with the fast growing economies in the East and South Asia, bilaterally as well as regionally.”
On the supply side for fiscal 2009-10, the report mentioned that the growth was underpinned by overall robust growth in the agriculture and service sectors accompanied by a modest growth in the industry sector.
It showed that the agriculture sector grew by 4.7 per cent during the last fiscal compared to 4.1 per cent in the previous fiscal (2008-09).  The growth rates for the industry and services sector were 6.0 and 6.4 per cent respectively in fiscal 2009-10 while 6.5 and 6.3 per cent respectively in fiscal 2008-09.
The Bangladesh economy maintained growth momentum despite deceleration in the export growth and investment initiatives, continuing with its resilient response to the global economic slowdown.
According to the report, the 12-month average Consumer Price Index (CPI) inflation rate increased to 7.3 per cent at the end of 2009-10 fiscal compared to 6.7 per cent at the end of fiscal 2008-09.
On the other hand, point-to-point CPI inflation rate stood at 8.7 per cent at the end of 2009-10 fiscal, which was 2.3 per cent at the end of fiscal  2008-09.
The 12-month average CPI food inflation rate rose to 8.5 per cent at the end of fiscal 2009-10 compared to 7.2 per cent at the end of fiscal 2008-09. Non-food inflation rate fell to 5.5 per cent at the end of fiscal 2009-10 as against 5.9 per cent at the end of 2008-09.
Money and credit developments:
The Bangladesh Bank pursued accommodative monetary policy stance during the fiscal 2009-10 with a view to promoting investment and productive economic activities and sustaining domestic demand against the backdrop of the global recession.
The broad money (M2) growth during the 2009-10 fiscal was 22.4 per cent, which was 19.2 per cent in the preceding fiscal.
The credit to the public sector declined sharply by 5.2 per cent during the 2009-10 fiscal compared to 20.3 per cent growth in the fiscal 2008-09. Reduced Annual Development Programme (ADP), higher revenue receipts and foreign grants and loans were mainly responsible for the fall in the credit to the public sector.

News: The Daily Star/ Bangladesh/ jan-26-2011