Al-Arafah Islami Bank Ltd opened its 77th branch at Bashurhat, Noakhali rec- ently. Managing Director of the bank Ekramul Hoque inaugurated the branch as chief guest, said a press release. Vice President of the bank Engr Md Habib Ullah delivered the welcome speech. The occasion was addressed by the Chairman of Comp-anigonj upajila parishad Md Sahab Uddin Ahmed, president of Companigonj Upajila Awami League Khijir Hayat Khan, member of Companigonj upajila BNP Humayun Kabir Palash, president of Bashurhat Trade Owners Associa-tion Reazul Hoque Liton and chairman of Shirajpur union parishad Md Abu Sayed spoke. Among others, vice president of the bank Abed Ahmed Khan and first assistant vice president Jalal Ahmed, a large number of local elites, businessmen, clients and well-wishers participated on the ceremony.

Source: Daily Sun/ Bangladesh/ 1-Jan-2011

Dhaka, Dec 30: Inter-bank clearance of cheques for about Tk 5,000 crore suffered unusual delay during the last three days because of a technical glitch in the Bangladesh Bank's automated clearinghouse. Commercial banks have been asked to have their low value (less than Tk 5 lakh) cheques cleared manually, leaving them in queues for three to four days for a work that usually that takes a day. The central bank, however, continues clearing high-value (more thank Tk 5 lakh) cheques in a day through its back-up server located at Mirpur.

A high official of Bangladesh Bank said the main server of the central bank’s clearance house remained inoperative for the last few days. “The technical problem emerged three days back. We kept the main server shut to avoid further glitch. Experts are working to bring it normal and we are hopeful that the server will resume its full operation by Monday next,” Fazlur Rahman, Deputy General Manager of Bangladesh Bank said. He said the central bank today cleared about Tk 1704 crore high value cheques online through the Mirpur server while low value cheques worth about Tk 800 crore were cleared manually. The bank cleared about Tk 2500 crore a day on an average of which one third cheques were of Tk 5 lakh or below.  “Many clients expressed their utter dissatisfaction over the delay. We are trying to settle all the cheques by working beyond banking hours,” Habibur Rahman, manager of a branch of Islami Bank said.

Naz Hossain, Head of Banking, Standard Chartered Bank, said since the master clearing house is facing problem ultimately customers have to face delay. Mian QC Chowdhury, Senior Vice President of the United Commercial Bank said their branch level transaction faced severe problems for the crisis. The central bank had launched the system in early October this year to settle payments online among 1,100 branches of all 47 scheduled banks initially in Dhaka.

At the same time, it kept the manual settlement system open as a 'stand-by' solution. The system experienced problem within three weeks of its introduction. Bankers blamed the central bank's inadequate back-up support for the debacle. They also pointed out that Bangladesh Bank adopted the new technology without sufficient technical know-how and manpower. The central bank, however, denied the allegation of poor management, saying that such a technical fault is nothing unusual.

Source: The Independent, Bangladesh/31st Dec 2010

Eastern Bank Ltd (EBL) has opened its 49th branch at Tanbazar in Narayanganj recently.

The branch offers online banking facilities with wide range of consumer, SME loans and deposits, said a press release.

Ali Reza Iftekhar, managing director and CEO of EBL formally inaugurated the branch.

Muklesur Rahman, deputy managing director, Mohammad Musa, executive vice president and area head of consumer banking, Khurshed Alam, head of SME business, Ahmed Rashid Joy, head of medium business, Md Abdus Salam, head of admin and security, Ziaul Kanm, head of brand and marketing, Irfan Islam, brand and marketing manager, and other senior officials from EBL were also present during the inaugural ceremony.

Source: daily-sun, Bangladesh/31st Dec 2010

Bangladesh Krishi Bank has launched its 965th branch in Mymensingh recently.

Local lawmaker Advocate Md Moslem Uddin inaugurated the branch at Shushti Bazar under Fulbaria upazila of the district, said a press release.

Deputy managing director Md Mainul Haque, general manager of Mymensingh Division Md Lutfar Rahman and other high officials of the bank were present on the occasion.

Source: daily-sun, Bangladesh/31st Dec 2010

Bank Alfalah Limited has donated Tk two million to Ahsania Mission Cancer Hospital (AMCH) for constructing its building at Uttara in the city.

The bank donated the said amount for construction of a patient and attendant lounge of AMCH, said a press release.

SAA Masrur, country head of the bank yesterday handed over a cheque for Tk one million to Kazi Rafiqul Alam, president of Dhaka Ahsania Mission at Dhanmondi Mission Bhaban in the city.

Another cheque for Tk one million will be handed over soon, the news release said.

Country operational head Muhammad Shahab Khattak, senior manager (liability) Mohd Maqsudule Haque of the bank and vice president and company secretary of Hajj Finance Company Limited Monzur Md Kawser were present at the function.

Source: daily-sun, Bangladesh/31st Dec 2010