Pubali Bank Limited has inaugurated its 393rd branch at Dania, Dhaka recently with online facilities.

Chairman, board of directors of Pubali Bank Ltd Hafiz Ahmed Mazumder MP inaugurated the branch as chief guest while directors Ahmed Shafi Chowdhury and Muhammed Kabiruzzaman Yaqub were present as special guests.

Managing director of the bank Helal Ahmed Chowdhury presided over the inauguration function, said a press release.

Director Ahmed Shafi Chowdhury also delivered speech at the function. They urged all to take banking services through the Pubali Bank.

Deputy managing director of PBL Safiul Alam Khan Chowdhury, general managers MA Zubayer, Sk Golam Mohammad, regional head of Dhaka south region Md Halimuzzaman, local elite and renowned businessmen were also attended in the function.

Source: Daily Sun

The employees of the Bangladesh Bank (BB) can draw their salaries from the automated teller machine (ATM) booths of Dutch-Bangla Bank Limited (DBBL), replacing the old token system for salary drawing that led the officials to stand in long queues.

BB Governor Dr Atiur Rahman formally inaugurated this technology-based system by opening a co-branded (BB-DBBL) ATM booth at the central bank’s own premises yesterday.

While speaking at the inaugural function, Dr Atiur Rahman said the new system was launched to replace the token system for salary drawing of the BB employees with a modern system on the way to modernise and simplify the central bank’s activities.

BB Governor said the central bank already inked agreements with the country’s two mobile phone operators- Banglalink and City Cell to introduce mobile banking soon in the efforts to take the banking services at the doorsteps of the people.

The mobile banking system will simplify the drawing of teachers’ salaries and the allowances of the freedom fighters and that for the elderly people, he added.

The central bank’s governor profusely lauded the role of DBBL for adopting modern and latest IT technology for rendering modern banking services to the doorsteps of the customers.

Deputy Governor of BB Murshid Kuli Khan and Chairman of the Executive Committee of the DBBL Board of Directors Sayem Ahmed, among others, were also present at the inaugural function.

Sayem Ahmed said the policies and support of BB helped the banking system of the country to be digitised.

Source: Daily Sun

The central bank has detected a case of sending a fake circular to different banks using the name of Bangladesh Bank. The central bank has alerted the banks to the fraud case.

The fake circular “directed” the banks to take the subscription fees paid to international news agency Reuters by different local news agencies, in local currency instead of foreign currency.

It also said the "chief executive officer" (CEO) of Reuters in Bangladesh and the BB entered into an agreement that the fees against the services of the international news agency should be paid in local currency.

The circular also said if the banks did not comply with the directive, action would be taken against them under anti-money laundering law.

The fake circular, issued on December 9, was sent to different banks by courier.

As the circular raised suspicion among the officials of the private banks, an official brought the matter to the notice of the central bank yesterday.

Bangladesh Bank Governor Atiur Rahman held a meeting with the high officials of the BB and directed them to take necessary steps, an official said.

SK Sur Chowdhury, executive director of the central bank, told The Daily Star that it is a "unique way" of cheating.

He said the central bank informed the banks yesterday that it was a fake circular and directed them to check with the Bangladesh Bank website if they receive any circular in future.

The central bank also informed the intelligence agencies to investigate the matter and find out who are involved with the forgery.

Contacted, an official of the Reuters Bangladesh office said the news agency does not have a CEO post in Dhaka, and there is no scope for such agreement.

Source: The Dailystar

The booming shipbuilding industry may get a Tk 200 crore refinancing fund, as the Bangladesh Bank (BB) will review the scheme tomorrow at its board meeting.

The central bank is keen to start funding the industry under the scheme, said an official of the central bank yesterday.

The BB earlier sanctioned the fund to give a further boost to the sector, which is considered to be the country's second largest export industry after readymade garment.

Once approved, shipbuilders will get loan at a 10 percent interest rate. The other criteria of the scheme will be disclosed elaborately after the finance ministry's approval, the BB official added.

Industry insiders said the much expected refinancing is being delayed due to an apprehension that such funding may influence the rising inflation.

But people from the banking sector, dismissing the fear, said the fund is too small to impact inflation.

High financing cost is the only bottleneck in the growing industry, said Abdullahhel Bari, president of Association of Export Oriented Shipbuilding Industries of Bangladesh.

Source: The Daily Star

DHAKA, DEC 26: Chowdhury Mohammad Kayes Sami, former managing director of The Oriental Bank Limited, has been appointed as managing director (MD) of the newly founded bank Expatriate Welfare Bank (Probashi Kallayan Bank) on contract basis for two years.
The establishment ministry issued a circular in this regard on Sunday. Sources in the expatriate ministry said that the newly appointed managing director of the bank will join within couple of days and kickstart its work by January next year. Headquarters and regional office of the specialised bank has already set up in the Eskaton area in the city.
The bank was established recently aimed at promoting by manpower exports and provide services to non-resident Bangladeshis. A cabinet meeting on July 5 gave final approval for the Expatriate Welfare Bank Act 2010 with an aim to provide collateral free loans to the people intending to go abroad for employment.
Dr Zafar Ahmed Khan, secretary of the ministry of expatriates’ welfare and overseas employment, earlier, told
The Independent that they are planning to sign agreements with remittance transfer companies like the ‘Western Money Union’ soon as the migrant workers will be able to send their hard-earned money to their families safely and easily through the bank.
“None will have to sell his land and properties to go abroad for job. The new bank will provide loans for their safe migration,” he said.
“The bank will be established with full expatriate equity and management.
Dr Zafar Ahmed Khan said that the Expatriate Welfare Bank would be a fully commercial scheduled bank in future.

Source: The Independent