Prime Bank Limited has approved 20 percent stock dividend and 10 percent cash dividend for its shareholders for the year 2011.

The approval came at the 17th annual general meeting (AGM) of the Bank held at a city hotel in the city recently, said a press release.

Md. Shirajul Islam Mollah, chairman of the board of directors of the Bank presided over the AGM.

Chairman of the Bank Md. Shirajul Islam Mollah said the Bank has earned successes based on their continuous support and confidence shown toward the Bank.

The Daily Sun/Bangladesh/ 2nd April 2012

Bangladesh Bank has advised the people not to transact with unapproved financial institutions that are active across the country.

A handout issued by the central bank said that many unauthorised organisations ask the people to invest in their businesses by offering high rate of profits, but the people might be cheated in such transactions with these firms.

The central bank is concerned as some organisations are running banking business throughout the country, although they don’t have any approval from the Bangladesh Bank, said the officials.

High official sources in the Bangladesh Bank told daily sun that the central bank will take necessary measures in this regard if they are formally instructed by the Ministry of Finance.

The Daily Sun/Bangladesh/ 2nd April 2012

As part of its digitization drive, Bangladesh Bank (BB) is well on the way to automate its business processes with a view to providing better services to people and strengthening its oversee job.

The IT Department of BB has so already initiated to develop 80 software to achieve the goal of digital central banking, BB sources said.

The automation process of BB is going on under a Central Bank Strengthening Project (CBSP), which commenced in 2003 with the financial assistance of World Bank.

But the project gained momentum in last one and half years and is expected to be completed by December 31, 2012, said the BB sources.

Under the CBSP project, bank-wide connectivity has already been established and all 10 offices of BB are now connected in a single-network through local and wide area networks.

The central bank officials are now sharing various banking applications on enterprise resource planning, enterprise data warehouse, electronic fund transfer (EFT), among others, through this network. Around 3,000 computers are now connected with the network while a secured disaster recovery site has also been established at Mirpur for data recovery.

An Enterprise Resources Planning (ERP) system under the project is now in full operation in BB offices under which BB officials can see their salary slip, account balance, status of loan and advance, different sorts of personal information at their own desks through the intranet system.

The Daily Sun/Bangladesh/ 2nd April 2012

Bangladesh Bank yesterday asked people not to transact with unauthorised financial institutions.

In a notice the central bank said: “Some institutions are operating business in different districts under various names and collecting money from people, luring them by prospect of getting high interest and attractive profits.”

The warning came following media reports on illegal banking operations by Destiny 200 Ltd.

“People are being requested not to make any investment in these organisations because there is a possibility of being cheated and these institutions have no approval from the appropriate authorities,” the BB statement added.

The Daily Star/Bangladesh/ 2nd April 2012

A Rouf Chowdhury

Bank Asia has re-elected A Rouf Chowdhury as its chairman, the Bank said in a statement yesterday. He is a sponsor director of the Bank.

Chowdhury, an eminent businessman and accomplished entrepreneur, is the chairman of Rangs Group and Sea Resources Group. He is also a director of The Daily Star, the country's highest circulated English newspaper.

A graduate of Business Management from Sloan School of Business, Massachusetts in the US, Chowdhury started his career with a pharmaceutical company.

He was the resident manager of two American pharmaceutical companies in Bangladesh for several years.

Later, he held a senior management position in Jamuna Oil Company for 15 years and made a significant contribution to the development of petroleum products in Bangladesh.

Chowdhury was also the president of Basket Ball Association for four years. He has been a member of executive committee for Kurmitola Golf Club for over 20 years and actively involved in social activities.

The Daily Star/Bangladesh/ 2nd April 2012