Mohammed Nurul Amin, Managing Director of NCC Bank, hands over a Biochemistry Analyzer Machine to Jahangir Alam, General Secretary of Parshuram Diabetic Samity in the city recently.

NCC Bank Limited donated a Semi Automatic Biochemistry Analyzer Machine to Parshuram Diabetic Samity in Feni recently.

The Bank has donated the machine as part of its Corporate Social Responsibility (CSR) in a simple ceremony held at the Bank's head office in the city, said a press release.

Mohammed Nurul Amin, Managing Director of NCC Bank handed over the machine to the Jahangir Alam, General Secretary of Parshuram Diabetic Samity.

Among others, director of NCC Bank Ainul Kabir, board secretary AKM Nurul Islam, advisor of Parshuram Diabetic Samity, Jalal Uddin Ahmed Chowdhury Pappu, joint secretary Mir Ahmed Chowdhury and Khurshed Alam Helal were also present on the occasion.

The Daily Sun/Bangladesh/ 29th March 2012

Rehana Rahman, director of Southeast Bank Limited, inaugurates a branch of the Bank at Mirpur in the city recently. Mahbubul Alam, managing director, Shahid Hossain, deputy managing director, are also seen.

Southeast Bank Limited (SBL) opened its 86th branch at Mirpur in the city recently.

Rehana Rahman, director of the Bank, inaugurated the branch, said a press release.

Mahbubul Alam, managing director, Shahid Hossain, deputy managing director, SM Mainuddin Chowdhury, senior executive vice president and head of Information Technology, Kayser Imtiaz, senior assistant vice president and head of Rupnagar branch, Donald Rossette, assistant vice president and head of corporate marketing attended.

Local businessmen, customers, educationists, local elites and other officials of the Bank were also present.

The Bank opened the branch aiming to provide modern commercial banking services and credit facilities to its customers.

Besides, the hard-earned money of the Bangladeshi expatriates working abroad shall be handed over speedily to their beneficiaries at a competitive exchange rate through this branch.

The Daily Sun/Bangladesh/ 29th March 2012

Eastern Bank Limited (EBL) has declared 35 percent stock dividend for the shareholders for the year ended on 31 December 2011.

The approval was given at the 20th annual general meeting (AGM) of the Bank held at Gulshan-2 in the city yesterday and the record date for the dividend had been set on 1 March this year, said a press release.

Md Noor Ali, Chairman of the Board of Directors of the Bank, presided over the meeting.

During the meeting, Noor Ali presented the Directors’ Report and financial statements for the year 2011 before the shareholders.

The Daily Sun/Bangladesh/ 29th March 2012

Mercantile Bank Limited declared 23 percent stock dividend for its shareholders for the year 2011.The approval was given at the Annual General Meeting (AGM) of the Bank in the city on Wednesday.

Abdul Jalil, MP, Chairman of the Bank presided over, said a press release.

The shareholders approved the company’s profit and loss account and balance sheet.

In the year 2011, the Bank earned operating profit of Tk 3.5017 billion. Banks deposit and loans and advances were Tk 102.26 billion and Tk 80 billion respectively.

Import and export of the Bank activities was Tk. 35.0087 billion and Tk. 81.3118 billion. Foreign inward remittance was Tk 7.15 billion and provision for taxes was Tk 1.25 billion.

Abdul Jalil in his speech mentioned that the success of the Bank in the year 2011 is the result of co-operation and support of its shareholders clients, central Bank and other regulatory bodies and thanked the board of directors and the management for theirs co-operation to achieve the success.

Among others, Morshed Alam, Vice Chairman, Mohd. Selim- Vice Chairman, MS Ahsan, Chairman Executive Committee, Al-Haj Akram Hussain (Humayun), Chairman Audit Committee, Directors Md. Anwarul Haque, Dr. Toufique Rahman Chowdhury, Engr. Mohd. Monsuruzzaman, Bilkis Begum, Md. Tabibul Huq, ASM Feroz Alam, M Amanullah, AKM Shaheed Reza, Md. Nasiruddin Choudhury, Md. Shahabuddin Alam, SM Abdul Mannan, MP, Al-Haj Mosharref Hossain, MA Khan Belal, Dr. Matiur Rahman, MP, sponsors Al-Haj Md. Abdul Hannan and SM Shafiqul Islam (Mamun), Bank’s Managing Director and CEO AKM Shahidul Haque, Deputy Managing Directors Md. Abdul Jalil Chowdhury, Monindra Kumar Nath, MA Yousuf Khan, Md. Quamrul Islam Chowdhury and Choudhury Moshtaq Ahmed and senior executive of the Bank were also present on the occasion.

A large number of share holders attended the Annual General Meeting.

The Daily Sun/Bangladesh/ 29th March 2012

The government has decided to increase the size of next fiscal year’s budget by 7.2 percent with no cut in the subsidy and Annual Development Programme (ADP) allocations.

The decisions came from a budget management resource committee meetings held at the ministry of finance in the capital yesterday, which also projected to keep inflationary pressure within eight percent.

In the meet, the Gross Domestic Production (GDP) growth target has also been fixed at above seven percent, which some of the participants in the discussions termed ambitious in the backdrops of the global economic situation and the domestic earning and investment projections, a senior government official who attended two consecutive meetings on fiscal coordination and on budget management.

Finance minister AMA Muhith presided over the meetings.

The source also said the government wants to increase the revenue earnings to a maximum level next fiscal to maintain the budget deficit within 5.1 percent. In the current 2011-12 fiscal, deficit has crossed five per cent of the budget size, he added

“In the meeting, the National Board of Revenue (NBR) has been asked to prepare a report on the new scopes of revenue earnings in the next fiscal year”.

The NBR was also asked to submit reports on revenue earnings before the next budget resource committee meeting, he added.

Prime Minister’s economic affair adviser Mashiur Rahman , NBR Chairman Nasiruddin Ahemd , Economic Relation Division secretary Iqbal Mahumund , Bangladesh Bank governor Atiur Rahman, Statistics Division secretary Riti Ibrahim and planning secretary Bhuiyan Shafiqul Islam, among others, attended the two consecutive meetings.

Meeting sources said size of the next 2012-13 fiscal year’s budget will be slightly below Tk 2 trillion.

According to mid-term budgetary framework estimation, the size of the next budget will be Tk 1.89 trillion with a deficit of Tk 508.9 billion. The size of current fiscal year’s revised budget is Tk 1.61 trillion.

Meeting sources said finance minister has asked the revenue board to increase its earnings to ease the government’s fiscal pressure. Bangladesh Bank was asked to strictly monitor the banking sector to implement government government’s policy for the banking sector.

Member of the budget management committee said yesterday’s meetings also emphasised on more investment in the agriculture and energy sectors in next fiscal as like the present fiscal year. Besides, the meetings also decided to give adequate subsidy to agriculture sector for keeping agriculture sector growth above four per cent.

Meeting sources said the total subsidy in the next fiscal may be fixed at Tk 400 billion, from the initially allocated Tk 200 billion for the current fiscal.

But the amount of subsidy in the current fiscal has increased to Tk 470 billion in the middle of the fiscal, sources said.

Earlier, the power division sought Tk 100 billion as subsidies to the government for smooth supply of electricity across the country in next fiscal. The government allocated a subsidy of Tk 50 billion to the sector for the current fiscal.

The next fiscal year’s development budget will be over Tk 500 billion, creating subsidy pressure. But the government scale up its revenue collection between Tk 1.14 trillion and Tk 1.20 trillion to offset the pressure, meeting sources said.

The Daily Sun/Bangladesh/ 29th March 2012