The Institute of Chart-ered Accountants of Bangladesh (ICAB) awarded Eastern Bank Limited (EBL) has received for its annual report for the year 2009.

EBL was awarded the second prize at the 10th ICAB National Awards for the best published accounts and reports which was held in the city recently, said a press release.

Ali Reza Iftekhar, Managing Director and CEO of EBL received the ICAB award from Finance Minister AMA Muhith.

Source: Daily Sun/ Bangladesh/ Jan-7-2011

Bank Asia opened its 49th branch at Jagannathpur, unamganj from on Thursday.

Mohd Safwan Choud-hury, Vice Chairman of the bank inaugurated the branch. Erfanuddin Ahmed, president and managing director of the bank was present on the occasion, said a press release.

Members of the business community, local elite and a large number of people also attended the function. The branch of the bank has all the modern banking facilities including on-line banking and ATM.

Starting its operation in 1999, Bank Asia is one of the most innovative banks in the country’s banking sector, Mohd Safwan Choudhury said adding that the bank offers a wide range of financial services that covers the entire spectrum of banking operations.

In addition, it has launched Islami banking, brokerage, SME banking, SMS banking, ATM and internet banking under its online platform to deliver the highest standard of service to its clientele, ably supported by the use of state-of-the-art technology, he added.

In addition to 49 branches, there are 10 SME Service Centres and 1 SME/Krishi Branch of the bank

Source: Daily Sun/ Bangladesh/ Jan-7-2011

Speakers at a workshop said that the banking industry can not run its business without prudent risk management.

They were speaking at a workshop on “Stress Testing, VaR and Basel II,” organised by City Bank at a hotel in the city recently.

K Mahmood Sattar, Managing Director and CEO of City Bank inaugurated the workshop.

SK Sur Chowdhury, Executive Director, KM Abdul Wadood, General Manager, Md Aminur Rahman Chowdhury, Deputy Director and Shahriar Siddique, Deputy Director of Bangladesh Bank jointly conducted the workshop, said a press release.

Ehsan Khasru, DMD and chief risk officer, B Chowdhury, EVP and head of SME and Abdus Salam Bhuiyan, head of HR of City Bank were also present.

K Mahmood Sattar in his speech emphasised that the banking industry can not run its business without prudent risk management. He informed that City Bank is managing risk in line with best industrial practice as well as Basel II norms as set by the central bank.

Khasru appraised the central bank for its proactive role in risks management. Total 40 participants from City Bank attended at the workshop.

SK Sur Chowdhury discussed on importance of stress testing for banks and also answered various issues on stress testing raised from participants.

Wadood discussed about supervisory review process and pointed out the importance of capital of a bank as well as Internal Capital Adequacy Assessment Process (ICAAP). Both Aminur and Siddique conducted practical session of the workshop.

Source: Daily Sun/ BAngladesh/ Jan-06-2011

Bangladesh Bank (BB) will take necessary steps to restore stability in the stock market.

BB will take stock market friendly initiates on adjusting over exposure of banks and financial institutions as the call money market has already been stabilised through immediate steps taken by the central bank, BB governor Atiur Rahman said.

Atiur told this at a meeting with SEC member Yasin Ali to discuss on how to overcome the restless situation of the stock market.

At the meeting, the policy makers expressed deep concern over instability in stock market due to liquidity crises.

Recently the BB asked the SEC to take necessary steps to help stabilise stock market and following that the SEC high official met the central bank chief.

“BB will not take any decision to bring down the over exposure of banks and financial institutions, which might bring negative impacts to the stock market,” said Atiur.

He also said BB will cooperate SEC in developing a sustainable stock market to bring confidence of the investors.

Source: Daily Sun/ BAngladesh/ Jan-05-2011

The central bank (Bangladesh Bank) has warned banks against awarding depositors any interest higher than the rate announced.

On receipt of complaints that some commercial banks in a deviation from rules are giving more interests on deposit, Bangladesh Bank (BB) issued a circular to the banks asking those not to choose this way to lure depositors.

News: The Daily Star Bangladesh/05 Jan 2011