Social Islami Bank Ltd has centralized its international trade processing through a focused centralized trade processing unit (CTPU) at its Foreign Exchange branch.

The Managing Director of the bank Mr Muhammad Ali inaugurated its centralized trade processing from Bank's Nawabpur Branch.

On this occasion in a recent gathering of the valued customers of the branch Mr Ali emphasized that the bank has upgraded its service distribution system for international trade services in all its branches irrespective of being an AD or non AD branch; customers could now receive their desired service through online connectivity with the centralized trade processing unit.

More so, centralized trade processing unit having efficient officers managing international trade finance operations in a focused unit shall concentrate much in elevating the standard of international trade, managing pertinent risks, more effectively and ensuring regulatory compliances in line with other developed banks shall in turn support our customers in managing their international business more efficiently too.

Mr Muhammad Ali informed that bank will very soon open another such centralized trade processing unit in Chittagong to support the branches of the port city.

Source: The Financial Express, Bangladesh/31th Dec 2010

A new bank, 50 percent owned by non-resident Bangladeshis, has received a green light from Bangladesh Bank.

The central bank will seek applications from interested NRB entrepreneurs, said an official, after the BB's Board of Directors on Tuesday approved a proposal to set up the bank.

The central bank will also make a set of criteria for evaluating the application forms.

The proposal mentioned that the amount of foreign direct investment in Bangladesh is much lower than in neighbouring countries.

NRBs are interested to invest here and their demand for establishing banks owned by them was raised many times in different forums.

Considering the huge remittances sent by the NRBs, formation of such a bank to create a handsome foreign exchange reserve has opened up a positive side, the proposal said.

In line with a guideline, also approved by the board, the paid-up capital of the NRB bank will be Tk 400 crore. The NRBs will provide the half of the paid-up capital and the rest will be raised through a public offering.

An entrepreneur can hold a minimum of Tk 10 crore in shares or a maximum of 10 percent of the total shares. No share of the entrepreneur can be transferred in three years without the central bank's permission.

A non-refundable amount of $15,000 has to be deposited with the application.

There are about 50 local and foreign commercial banks operating in the country, of which 30 are private.

The approval for any new bank had been on hold from 2001, following the presence of more-than-required banks and criticisms from various quarters.

 Source: The Daily Star

Bangladesh Bank Governor Dr. Atiur Rahman yesterday handed over agricultural loans among the local farmers at Lohajang Upazila Complex of Munshiganj district.

Organised by Bangladesh Krishi Bank (BKB), a government-owned especialised bank, Whip of the Parliament Professor Sagufta Yasmin, BKB Chairman Khondker Ibrahim Khaled and

the Director of Sonali Bank Limited Shuvash Singh Roy, BKB’s Dhaka Divisional General Manager Saud Ahmed, General Manager of Bangladesh Bank SM Moniruzzaman, District Commissioner of Munshiganj, Chief Regional Manager of Munshigonj Mozammel Haque, among local dignitaries, joined the gathering.

BKB Managing Director Mukter Husain presided over the function.

Source: Daily Sun

Mutual Trust Bank Ltd (MTB), as a participant in the Investment Promotion and Financing Facility (IPFF), has signed a Master Facility Agreement with Bangladesh Bank.

Bangladesh Bank Executive Director S K Sur Chowdhury and MTB managing director and CEO Anis A Khan signed the agreement on behalf of their respective organisations at Bangladesh Bank Head Office on Tuesday, said a press release.

Bangladesh Bank’s joint director Hosne Ara Shikha, deputy director Rathin Kumar Paul, MTB deputy managing director Md Ahsan-uz Zaman, vice president Monzur Hassan and other officials of both the organisations were present at the occasion.

Under the agreement, Mutual Trust Bank will enjoy financing facility from the World Bank, administered by the Bangladesh Bank, for extending credit facilities to infrastructure projects under Public Private Partnership (PPP).

Source: Daily Sun

Eastern Bank Limited (EBL) has opened its 48th branch at Garib-E-Newaz Avenue of Uttara in Dhaka on Tuesday.

Ali Reza Iftekhar, managing director and chief executive officer of EBL, formally inaugurated the branch equipped with online banking along with a wide range of modern banking facilities, said a press release.

Muklesur Rahman and Fakhrul Alam, deputy managing directors, Mohammad Musa, executive vice president and area head, Consumer Banking, among others, were also present on the occasion.

Source: Daily Sun