Committee on Implementation of Separate Pay Scale (CISPS) will sit today (Tuesday) to finalise the separate pay scale for the central bank as well as Sonali, Janata and Agrani, an official of the finance ministry said on Monday .

“We will examine the possible options of last three meetings to increase salaries of staff of Bangladesh Bank (BB) and three State-owned Commercial Banks (SCBs),” said a member of the CISPS.

In the proposed structure, a central bank executive director or deputy managing director of a state-lender will get Tk 20,000 more salary than a government secretary, whose take-home salary is Tk 40,000.

Such a big gap between senior bankers and bureaucrats will encourage other enterprises and autonomous bodies demand pay hikes, which could put the whole thing in jeopardy, the finance ministry official said.

According to the revised proposal, monthly gross salary of sub staff members and senior executives will range between Tk 7,000 and Tk 67,500.

Earlier, recommendations made three months ago were turned down as the government committee said the proposed salary hike was too much-- 67 per cent higher than the current level.

The committee then asked the authorities to send a new pay proposal. Finance Minister AMA Muhith said the committee would make a unique salary scale for the central bank and state-owned banks, which could be followed by other government enterprises.

“Committee will finalise the separate pay scale of staffs of the BB and three state-owned banks within current month,” he added.

Banking Division Secretary Shafiqur Rahman Patwari told daily sun on Tuesday that the government committee had some queries regarding separate pay scale.

“The committee will sit on Tuesday for analysing the latest proposal,” he added.

Source: daily-sun, Bangladesh/14th Dec 2010

First Security Islami Bank Limited (FSIBL) was recently awarded the Corporate Social Responsibility (CSR) Award 2009 by Bankers’ Forum.

AAM. Zakaria, Mana- ging Director, First Security Islami Bank Limited received the award from former Bangladesh Bank governor Dr Salehuddin Ahmed at a function held at CIRDAP auditorium in the city, said a press release.

The bank was awarded the CSR award in recognition of its active participation in the field of Corporate Social Responsibility (CSR) Prog- ramme.

Source: daily-sun, Bangladesh/14th Dec 2010

Eastern Bank Ltd yesterday launched a new service to help non-resident Bangladeshies (NRBs) to invest in the capital market of the country.

Ali Reza Iftekhar, managing director and chief executive officer of the bank, formally inaugurated the service named ‘Swadesh Biniyog’ at a press conference in Dhaka yesterday.

NRBs will be able to take part in initial public offerings (IPO), sell the shares, acquired through IPOs, in the secondary market, and buy and sell shares into the secondary market through the service.

To avail the facilities, expatriates have to open a Bangladesh Bank approved Non-Resident Investors Taka Account (NITA), a beneficiary owner (BO) account and give power of attorney to the bank for the transaction.

EBL has been providing with innovative services to NRBs for last few years, Iftekhar told the function

When asked, he said their minimum and maximum charges would range from Tk 500 to Tk 5,000 for each transaction.

To facilitate such transactions, EBL has also signed a Memorandum of Understanding with EBL Securities Limited, a brokerage house and also a subsidiary of Eastern Bank Limited.

Source: daily-sun, Bangladesh/13th Dec 2010

Pubali Bank Ltd recently organised a discussion title ‘Loans under Consumers Credit Scheme’ for all senior executives and officers of the bank.

Managing Director of Pubali Bank Limited Helal Ahmed Chowdhury presided over the meeting, said a press release.

Khurshid-Ul-Alam, Mah- bub Mustafizur Rah- man and Safiul Alam Khan Chowdhury, deputy managing directors of the bank were present at the meeting held at the head office of the bank.

They exchange their views in the meeting regarding consumers credit loans.

Source: daily-sun, Bangladesh/13th Dec 2010

DHAKA: Bashundhara Fo-undation will disburse Tk 2.3 million to poor people as interest-free loan in Banchharampur upazila of Brahmanbaria district in this month of victory of the nation.

The soft loans will be distributed at the Foundation office at the ancestral home of Ahmed Akbar Sobhan, chairman of Bashundhara Foundation, at Durgarampur village next Thursday.

Md Mosharraf Hossain, who is in charge of the foundation, said: “Small credits worth over Tk 1.53 crore have so far been distributed among 2,800 beneficiaries, who have either become self-reliant or are on way to becoming self-dependent.”

Nearly 340 members will get over Tk 23 lakh as interest-free small loans Thursday, he informed.

Mainal Hossain Chowd- hury, coordinator of the foundation, will attend the function as chief guest while local elite and media personalities will remain present. — BSS