Anayetur Rahaman

The Bangladesh Bank (BB) has decided to pay subsidy to the State-owned Commercial Banks (SCBs) who disburse loan to salt farmers at reduced interest rate, a central official said.

The interest rate has been set at 4 percent which previously hovered around 10 to 13 percent for the share croppers, small and marginal salt farmers.

The central bank issued a circular yesterday regarding loan disbursement at reduced rate to help boost salt cultivation in the coastal region of the country.

According to the circular, the Bangladesh Krishi Bank, Sonali Bank Ltd, Janata Bank Ltd, Agrani bank Ltd and Rupali bank Ltd can disburse loan to a salt farmer up to Tk 44,000 for per acre of land.

The loan expenditure heads include purchase of polythene Tk 10,000, drawing water Tk 5,000, labour cost Tk 5,000, land rent Tk 21,000 (maximum) and construction of earth protection with others Tk 3,000.

The loan disbursement begins from the month of December and continues till May of next year, as directed in the circular.

The circular also directed the banks to recover loans within 12 months of disbursement and to submit their interest loss subsidy demands by one month of loan recovery.

As per the BSCIC records, 43,460 farmers were involved in salt cultivating on 67,751 acres of land mainly in Cox’s Bazar with some parts of Chittagong and Satkhira in fiscal year 2009-2010. But the farmers experienced huge loss in last fiscal as the price of per kg salt reduced to Tk 1 while production cost is over Tk 3. The farmers produced 1.71 million tonnes of salt against the target of 1.35 million tonnes in last fiscal.

News: Daily Sun / Bangladesh/ jan-27-2011

The Securities and Exchange Commission has withdrawn the trade suspension on NCC Bank.

According to a message posted on the web of the Dhaka Stock Exchange (DSE), the capital market regulator on Wednesday decided to lift the 30-day suspension order on the activities of its merchant banking section.



On Jan 20, the SEC halted the activities of six brokerage houses, including that of the NCC, for one month as they passed aggressive sales orders, resulting in 600-point fall in the key market index of the DSE on the day.

The SEC has also formed a probe committee to investigate the actions of the six brokerage houses about the aggressive selling on Jan 20.

The other brokerage houses are PFI Securities Limited, Alliance Securities & Management Limited, IIDFC Securities Limited, and merchant banks of Al-Arafah Islami Bank Limited and Dhaka Bank Limited.

News: The Independent/ Bangladesh/ jan-26-2011

The Board of Directors of Pubali Bank Ltd hosted a reception party at Chittagong Club recently for distinguished business personnel of the port city.

Hafiz Ahmed Mazumder MP, Chairman and board of directors of the bank was present at the function, said a press release.

Vice-Chairman and Director of PBL Habibur Rahman, Directors of PBL Moniruddin Ahmed, Sk. Wahidur Rahman, Syed Moazzem Hussain, Ahmed Shafi Choudhury, Fahim Ahmed Faruk Chowdhury, Muhammed Kabiruzzaman Yaqub, Mustafa Shahriar Ahmed and Managing Director of Pubali Bank Helal Ahmed Chowdhury were also present on the occasion.

In his speech, Hafiz Ahmed Mazumder said Pubali Bank organised the function for its business expansion and to encourage all the customers and the people associated with the bank.

Referring to skilled management, deposit reserve and sufficient foreign exchange reserve, he reiterated that PBL can render foreign remittance business to their clients. He urged all customers to extend business through the service of Pubali bank.

Senior Vice President of Chittagong Chamber and Commerce Industries Mahbubul Alam Talukder, Share Holder Kazi Fazlur Rahman, Chairman of BSRM Group Ali Hossain Akbar Ali, Managing Director of GPH Group Md Jahangir Alam, Propritor of Gangchil and Rangdhonu Feeling Station Mrs Rasheda Akter also spoke at the function.

News: Daily Sun

The Janata Bank Ltd (JBL) distributed Taka 8.02million soft-term agri-loans at two percent interest rate among 225 farmers at a function arranged in Nilphamari district town Monday.

The agri-loans were distributed among the farmers of all eight upazilas of Nilphamari district with a view to encourage them in enhancing productions of pulses, spices, oilseeds and similar crops in this economically backward area.

As per directives of Bangladesh Bank (BB) Governor Dr Atiur Rahman, the JBL disbursed these loans like other banks in the process of building a developed and poverty-free digital Bangladesh through achieving self-reliance in agriculture by increasing productions.

Rangpur Divisional Manager of JBL M Mohsin chaired the loan distribution ceremony at Nilphamari District Shilpakola Academy auditorium and Chief Executive Officer and Managing Director of JBL SM Aminur Rahman attended as the chief guest.

General Manager (Rural Loan) of the JBL M Ayat Ali and Deputy Commissioner of Nilphamari Zillur Rahman were present as the special guests.

Acting General Manager of Rangpur Branch of Bangladesh Bank (BB) Nurun Nahar and Deputy General Manager (Rural Loan) of the JBL from Dhaka Zikrul Haque also attended the ceremony.

The speakers said that these easiest agri-loans are being disbursed among the farmers for achieving more economic growths in the agriculture sector by saving huge foreign exchange through achieving self-reliance in productions of pulses, oilseeds and spices.

They called upon the officials and experts of the agriculture related departments to assist the farmers in ensuring optimum utilizations of the loans to increase productions of these crops to meet the country’s local demands without importing these commodities.

Dr Atiur Rahman during his visit to Rangpur and other northern districts in October 2009, ordered authorities of RAKUB and other commercial banks to ensure disbursement of adequate agri-loans at two per cent interest rate to increase productions of these crops.

News: Daily Sun/ Bangladesh

Mutual Trust Bank Ltd (MTB) has distributed warm clothes among the distressed people of Panchagarh and Joypurhat recently.

Md Jahangir Alam, MTB group chief risk officer (GCRO) led the warm cloth distribution in Joypurhat while Mohammad Iqbal, head of MTB SME Banking Division led the other event organised for distributing warm clothes at Panchagarh, said a press release.

They distributed blankets, sweaters, shawls, sarees and lungis among the effected people.

News: Daily Sun/Bangladesh/jan-26-2011