The 7th Extra Ordinary General Meeting (EGM) of Social Islami Bank Limited was held yesterday at hotel Purbani Internatinal in the city, said a press release.

The shareholders present at the EGM approved the proposals for increasing authorised capital from Tk 4.00 billion to Tk 10.00 billion and issuing 1:1 right shares, said a press release.

Sultan Mahmood Chowdhury, chairman of the bank presided over the meeting. Managing director of the bank Md Ali, directors, shareholders and executives of the bank attended.

Source: Daily Sun

Enamul Haque has joined Sonali Bank Limited as deputy managing director (DMD) on Monday.

Prior to his promotion he was GM of Agrani Bank, said a press release.

Enamul Haque was born on January 1, 1952 in Munshiganj district. He passed SSC and HSC in 1968 and 1970 respectively.

He took part in liberation war in 1971. He completed his BSC And MSC from Dhaka University.

Md Enamul Haque joined Agrani Bank in 1977 as probationary officer. He was promoted to general manager in July, 2005.

Source: Daily Sun

Bangladesh Bank (BB) has asked banks not to finance the purchase of any car older than five years.

The central bank emphasised that the banks willing to finance the purchase of used cars must prepare a set of uniform guidelines to determine the value of the vehicles.

“However, in no case the banks will finance the cars older than five years,” it said in a notice to the scheduled banks.

The central bank also instructed the banks to finance the vehicles imported as described in the existing import policy order.

Source: The Daily Star

Dhaka, Dec 20: BRAC Bank Ltd. (BBL) on Sunday launched Bangladesh's first e-commerce banking platform in alliance with Visa, thereby opening an opportunity for Bangladeshi citizens to use Visa cards for shopping online. Any Bangladeshi with internet access now can shop online with a Visa card or any card issued by BRAC Bank. Attending as the chief guest, Dr. Atiur Rahman, Governor of Bangladesh Bank, inaugurated the country’s first e-commerce banking system at a city hotel on Sunday.

Md. A. (Rumee) Ali, Chairman of BBL, Syed Mahbubur Rahman, Managing Director and Chief Executive Officer of BBL and Uttam Nayak, Group Country Manager (India and South Asia) of Visa were present along with senior officials, leading merchants and clients.

“The central bank has continuously been facilitating bringing banking to the doorsteps of the general mass. This online shopping is another milestone in that journey. I am happy to inaugurate this service brought first time in Bangladesh and that too by a Bangladeshi bank,” the Banglaesh Bank Governor said.

Md. A. (Rumee) Ali, said, “I think this will pave the way for many companies to start doing business online. This hopefully will be the start of online business revolution for Bangladeshi companies enabling them to keep up with the rest of the world and innovate how they interact with their customers.”

Uttam Nayak in his speech said that e-commerce would not only reduce cost of transaction but also save couple of hours rather than shopping physically.

E-commerce facilitates remote payments which are better than face-to-face payments, he said and adding it will give an opportunity to include more people in banking transaction, one’s who buying goods and other’s who selling goods. Firoz Ahmed Khan, Head of Retail Banking, while demonstrating the new service features at the launching ceremony said that the new shopping platform would work just any other developed online stores work.

Consumers can browse and choose their products on either the online super-stores or individual shops and then they can add the products to their cards through checking out finally, they simply need to put their details from BBL or Visa card. Online ticket booking with ones credit card and general retail purchases online have been something many credit card holders have been waiting to be able to do for years while many working Bangladeshis facing problems as the shops are normally closed at 8 pm., he said.

BRAC Bank online shopping is open for 24 hours making it possible for retail products, companies and stores to keep earning long after shopping hours are over, he added.

Source:The Independent

Janata Bank Ltd will extend its loan facility to the small investors of footwear and tannery industries in exporting their products overseas, said its managing director and CEO yesterday.

S M Aminur Rah- man, managing director and CEO of Janata Bank was attending a certificate distribution ceremony of a skill development workshop for the small investors at Biam auditorium in the city, said a press release.

In March this year, Janata Bank signed an agreement with the Bangladesh Lather Sector Business Promot- ion Council (BLBPC) to provide loan facility without collateral and sanctioned 70 million facilitating the small investors, the news release added.

Mohammad Zillur Rahman, deputy managing director of Janata Bank, who was also present at the function, said the bank will provide loan facility for over 2,000 small industries situated in the old part of the city.

Source: Daily-Sun