Dhaka, Dec 23 (bdnews24.com)—A parliamentary watchdog has sought explanation why Grameen Bank is not yet being operated under the Microcredit Regulatory Act 2006.

"We've sought an explanation for Grameen Bank's operations from the finance ministry's banks and non-bank financial institution division," chairman of the standing committee on finance ministry A N H Mostafa Kamal told reporters on Thursday after a meeting of the committee.

He, however, refused to comment on the recent controversies over fund management saying that the government would probe the matter.

"The committee has been informed that a high-powered committee will investigate the matter and we'll comment only after the committee submits its report."

Replying to a query, Kamal said the committee would be formed within a few days.

He said the standing committee feels that microcredit operation in the country should be regulated properly. "The committee also believes that rules and regulations of the MRA [Microcredit Regulatory Authority] are weak to regulate the sector."

He added that the regulatory body's manpower should also be increased for strong monitoring activities. "The MRA needs to work at the country's grassroots-level."

Source:biz.bdnews24.com

Standard Chartered Bank and MicroSave have launched a risk management toolkit for micro-finance institutions in partnership with Credit and Development Forum (CDF).

The toolkit aims to sup-port microfinance in Bangladesh and strengthen relationship with stakeholders, StanChart said in a statement yesterday.

The toolkit will be gradually disseminated to MFIs across the globe and cover the management of credit, operational, financial and strategic risks. It comprises 'ready-to-use' training material.

Rozina Razzak, director and head of development organisations for StanChart, and Mosharrof Hossain, chairman of CDF, emphasised the importance of the toolkit and the reasons for supporting such activity.

Shafiqual Haque Choudhury, president of ASA, was present as the chief guest and formally declared the launch of the toolkit, followed by a panel discussion. Joseph Silvanus, regional head for development organisations in Southern Asia of StanChart, moderated the discussion.

“We have spent a lot of time and resources and engaged MicroSave, a leading technical assistance agency to develop this toolkit,” said Tanveer Ahmed, associate director of Standard Chartered.

This is part of a series of efforts that have been made by StanChart to strengthen the development organisations sector globally, he added.

Source: The Daily Star

RAJSHAHI, Dec 23:  The Rajshahi Krishi Unnayan Bank (RAKUB) should ensure farmers-friendly banking services for bolstering the agro-based economy of the country’s northwest region. Besides, the bank should render its services for increasing the qualitative and quantitative credit flow towards the potential fields in the region for sustainable livelihood development of the farmers.
These were highlighted in the 353rd meeting of the Board of Directors of the bank at its board room here yesterday with RAKUB Board Chairman Prof Dr Shah Naoaz Ali in the chair. The meeting discussed on how to make the bank’s operational and commercial activities more dynamic through strengthening the credit support for both farm and non-farm prospective fields.
So, the pro-farmers banking in the specialized bank must be ensured for cherished development of the region after the best use of its existing natural resources.

Source: The Independent

Bangladesh Bank Governor Atiur Rahman yesterday said the bank has directed the commercial banks to set up dedicated desks for women entrepreneurs to ensure friendly atmosphere for them.

The BB governor was attending a loan distribution programme for silk-based small and medium enterprises (SMEs) by the women of indigenous Manipuri community at Kamalganj upazila of Moulovibazar, said a press release.

Bangladesh Krishi Bank (BKB) distributed the loan of Tk 1.5 million among 30 women entrepreneurs of the area to facilitate their silk-based SMEs.

While addressing the function, Atiur Rahman said the loan limit for small entrepreneurs has been re-fixed at Tk 50,000 from 5 million for their convenience.

He also informed that over Tk 380 billion had been distributed in SME loans till September 30 this year which is 160 percent higher that the target amount of 240 billion.

The BB governor also said Bangladesh Bank is considering taking various initiatives for the development of women entrepreneurs.

He also urged the borrowers to utilize the money in proper ways to expand their business.

Source: Daily Sun

Eastern Bank Ltd (EBL) has opened a new branch at SSK Road at Feni town.

Muklesur Rahman, deputy managing director of EBL inaugurated the branch recently, said a press release.

The 46th SME and Agri branch of the bank will offer online banking facilities with wide range of SME and consumer loans and deposits.

Mohammad Musa, EVP and area head, consumer banking, Khurshed Alam, head of SME business, Ahmed Rashid Joy, head of medium business, Major Md Abdus Salam, psc, (retd), head of admin and security and other senior officials were also present during the inaugural ceremony.

Source: Daily Sun