Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of Islami Bank Bangladesh Limited, hands over the cheque to 200 underprivileged students who obtained GPA-5 in the HSC examination-2011 in Dhaka Thursday.

Islami Bank Bangladesh Limited awarded scholarship to 200 underprivileged students who who achieved grade point average 5 in secondary school certificate and equivalent examinations in 2011.

The information was disclosed at a reception for the students organised by the Bank held at the Bangladesh Chemical Industries Corporation (BCIC) in Dhaka Thursday, said a press release.

Each of 200 students will get Tk 18000 who obtained GPA-5 in HSC exam for one year. The Bank will provide scholarship to these students up to completion of their graduation.

Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of the Bank was present as chief guest while Mohammad Abdul Mannan, Managing Director of the Bank presided.

Hafizul Islam Mian, former Additional Secretary, Humayun Bokhteyar, ACPA, FCA, director of the Bank, Mohd. Shamsul Haque, Deputy Managing Director of the Bank addressed the function.

The function was addressed among others by Md. Habibur Rahman, Deputy Managing Director of the Bank, Rafiqul Islam, Chairman, Aman Group, Abdul Hamid, Managing Director, RK Group and A.K.M. Jane Alam, Prominent Industrialist.

Prof. Abu Nasser Muhammad Abduz Zaher in his speech said that achieving scholarship from Islami Bank, you who are beneficiary, need not express gratitude. It is your right. Being awarded by national and international institutions, Islami Bank’s responsibilities has been increased.

Mohammad Abdul Mannan said that Islami Bank is working for the welfare of the people since its inception. The Bank is conducting different program in social development and education.

The Daily Sun/Bangladesh/ 1st July 2012

WASHINGTON: Afghanistan has made progress on structural reforms despite a difficult environment, the IMF said yesterday as it approved the release of $18.2 million in new funds under its loan program.

The International Monetary Fund said Kabul had moved ahead on targets to draft a value-added tax law, set a strategy to fight economic crimes, and strengthen the central bank’s capitalization framework.

The IMF said it was releasing the second tranche of the $133.6 million loan program approved in November even though Kabul had not met a goal on fiscal revenues.

“In a very difficult environment, Afghanistan has begun a transition toward greater macroeconomic stability and economic self-reliance,” IMF deputy managing director Nemat Shafik said.

“The authorities have also reported on asset recovery from Kabul Bank where cash recoveries have increased following a presidential decree,” she added.

“Going forward, the program will continue to focus on safeguarding the financial sector, strengthening economic governance, and moving toward fiscal sustainability, while progress has been made on all these fronts, strong government ownership of the program remains crucial to resist opposition from vested interests.”

The original IMF loan was held up for a year as foreign donors and the Fund pressed the government to deal with the massive Kabul Bank scandal, in which nearly one billion dollars were lost in a scheme involving many powerful Afghan businessmen and officials.

The bank, once Afghanistan’s largest, had to be taken over by the central bank in late 2010 amid accusations that powerful former executives siphoned off more than $900 million, some of which was used to buy luxury properties in Dubai.

The Daily Sun/Bangladesh/ 1st July 2012

AAM Zakaria, Managing Director of FSIBL, seen with the participants of a training course at the Bank’s training centre in Dhaka recently.

First Security Islami Bank Limited organised a foundation training course for its cash officers at the training centre of the Bank recently.

AAM Zakaria, Managing Director of FSIBL inaugurated the course, said a press release Thursday.

Zakaria, in his inaugural speech, emphasised on upgrading the Bank to a modern one and advised all to discharge their duties with honesty and sincerity.

The Daily Sun/Bangladesh/ 1st July 2012

 Leading mobile phone operator Grameenphone in association with BRAC Bank Limited Saturday organised a workshop on ‘Capital Market: Awareness and role of media’ to foster knowledge base of the financial journalists reporting on capital market issues, financial statements and valuation models.

Around 40 journalists of different print and electronic media covering capital market took part at the workshop held at BRAC Inn which also discussed the impact and importance of journalists’ work on capital market and economy.

Dr. Musharraf M. Hussain, Chief Executive Officer, Dhaka Stock Exchange inaugurated the workshop as the chief guest.

Moazzem Hossain, Editor Financial Express, Arif Khan, Member, Securities and Exchange Commission, Rahmat Pasha, Chief Executive Officer, BRAC EPL and, Fridtjof Rusten, Chief Financial Officer of Grameenphone were the panel discussants.

Shawkat Hossain Masum, News Editor of The Daily Prothom Alo moderated the session while Syed Mahbubur Rahman, Chief Executive Officer of BRAC Bank delivered vote of thanks.

The Daily Sun/Bangladesh/ 1st July 2012

Bangladesh Bank governor Dr Atiur Rahman has stressed the need for sustained expansion of productive capacity in all economic sectors by entrepreneurs utilising investment resources efficiently and innovatively to continue broad-based job creation in developing economies.

“Small enterprises producing goods and services figure importantly in output growth and job creation,” he said while addressing a function at the UN Headquarters, New York.

United Nations Department of Economic and Social Affairs arranged the event tilted ‘Financial Inclusion, Productive Capacity and Youth Employment,’ according to a message received here on Saturday.

Atiur said youth employment has always been a challenge and a key priority in populous low-income developing economies like Bangladesh. “Many advanced Western economies are now facing much the same challenge in lingering growth slowdown since the global financial crisis.”

The Daily Sun/Bangladesh/ 1st July 2012