Dutch-Bangla Bank Ltd yesterday donated 30,000 pieces of blankets worth Tk. 10.5 million for the people who are the worst sufferers of the winter chill across the country.

Mohammed Sahabuddin Ahmed, founder chairman of DBBL and Chairman of Dutch-Bangla Bank Foundation Trustee Board, handed over a sample blanket to Food and Disaster Management Minister Abdur Razzaque, said a press release.

Dr M Aslam Alam, secretary, Atish Kumar Mukut Moni, additional secretary, Md Abdul Wazed, joint secretary of food and disaster management ministry , Zahirul Haque, director general of Directorate of Relief and Rehabilitation, Ashan Jakir, director general of Bureau of Disaster Management, Md Fazlul Haque, joint secretary of Disaster Management and Relief division, Manoj Kanti Baral, assignment officer to the Prime Minister and K S Tabrez, managing director of the Bank were also present in the occasion.

The Minister lauded the role of DBBL for extending its helping hands to mitigate the sufferings of the affected people.

He termed the donation very timely and said it would inspire others to stand by the cold-hit people, the statement said.

Source: Daily Sun/Bangladesh/16 Jan 2011

The Bangladesh Bank (BB) has identified 11 commercial banks for responsible in stock markers volatility that led market to historic fall.

Three separate teams of the central bank have already found involve-ment of these banks after primary investigation, a senior official of the BB said.

“One of the commercial banks made profit of Tk 10.40 billion during last year. Of these amount of profit, Tk 4.40 billion came during the last month by investing in share market,” he said without disclosing the name of the bank.

He also said allegations have been found that bank officials provided false loan to fake clients for investment in the share markets.

The BB also investigated allocation of Tk 24 billion industrial loans by a bank to its clients last year, an official of BB said.

“I am surprised how the industrial loan was invested in the industrial sector when gas and electricity connections were not given to that unit,” he said expressing his dissatisfaction.

He also said some commercial banks on an average borrowed Tk 70 billion during share market debacle and invested in share market illegally.

Even some banks have invested over 10 percent of their capital violating BB guidelines, he said.

Source: Daily Sun/Bangladesh/14 Jan 2011

Kaiser A Chowdhury has been re-appointed President and Managing Director of AB Bank Limited.

He has been holding the position since January, 2005, said a press release.

Chowdhury started his three and a half decade long banking career with Grindlays Bank Limited in 1975 and held various key positions at home and abroad. He also served ONE Bank Limited as Deputy Managing Director from 1999 to 2004.

Under his leadership, AB Bank has been awarded “The Century ERA Award” in the Gold Category at Geneva 2008 and “International Quality Summit Award” in the Platinum Category at New York 2010 by Business Initiative Directions (BID).

An accomplished writer with 34 publications to his name, Chowdhury takes active interest in juvenile literature and wrote profusely in this genre.

He has been awarded “Agrani Bank Shishu Shahitya Purushkar”, “Chandrabati Academy Swarnapadak”, “Sriggan Atish Dipankar Swarnapadak”, and many more for his literary works.

Source: Daily Sun/Bangladesh/14 Jan 2011

The state-run specialised financial institution—Karmashangsthan Bank - distributed loans amounting to Taka 4.38 billion among 69,000 youths across the country for job creation in 2009 and 2010.

Of the total amount, Taka 1.92 billion was disbursed among 29,00 youths in 2009 and Taka 2.46 billion among 40,000 youths in 2010.

A total of 250,000 people were benefited directly and indirectly from the loans given without collateral and on a nominal rate of interest, said official sources.

Seventy-one new branches of the bank were opened at the upazila level in last two years to spread its activities up to the field level.Chairman of the Board of Directors of Karmashangsthan Bank

Maniruzzaman Khondakar told BSS that the bank is implementing the Prime Minister’s pledge to make the youth self-reliant by providing them with loans on low interest rate.

“Loan is a right’ - this slogan is being implemented by the Bank, he said adding only this bank is offering loans at 8 per cent interest in the country.

Bank’s Managing Director Dr Mohammad Nurul Huda Chowdhury said unlike the commercial banks, Karmashangsthan Bank is not giving emphasis on profit, but on reaching the loans to a greater number of unemployed youths to make them self-reliant.

Source: Daily Sun/Bangladesh/14 Jan 2011

AB Bank Ltd recently distributed blankets among the deprived people of Chorforadi at Pakundiya upazila in Kishoreganj.

Mahfuzur Rahman, executive director of Bangladesh Bank and Majedur Rahman, additional managing director of AB Bank, distributed the blankets among the winter affected people of the area on Saturday, said a press release.

Other high officials of the bank were also present during the warm cloth distribution.

Source: Daily Sun/Bangladesh/14 Jan 2011