The New Nation - Internet Edition

Business Desk

Prime Bank Limited opened its 58th branch on 10th December 2007 on Ring Road, Dhaka. Azam J Chowdhury, Chairman, Board of Directors, formally opened the branch as the chief guest. M Shahjahan Bhuiyan, Managing Director of the bank, presided over the inauguration ceremony.

Inaugurating branch, the chairman of the bank said that Prime Bank opened this branch as a part of the program of extending its quality banking services to every corner of the country. He emphasized that a country like Bangladesh could only prosper when its economic activities would flourish everywhere. "Prime Bank has been expanding its branches network to contribute in the economic development of the country", added Azam J Chowdhury.

Apart from commercial banking operation, Prime Bank Limited, through its foundation, is simultaneously playing a pivotal role in the society as part of its corporate social responsibility. A portion of the profit of the bank is donated for the uplift of underprivileged people of the country. With that view, Prime Bank has introduced different short and long term programs such as Education Support Program (ESP) to support poor and meritorious students and Eye Cataract Operation for treatment of the poor free of cost. Managing Director, M. Shahjahan Bhuiyan in his speech said that Prime Bank believed in the economic emancipation of general mass of the country and in view thereof had introduced several customized solutions for their welfare. People of all tiers of the society could avail these products and services particularly the small investors under SME category.

He requested the august gathering present on the occasion to avail the banking services from the branch to improve their condition and to stabilise the society. The managing director said, "Continuous support of the stakeholders has encouraged the board and the management of the bank to take prudent decisions which has tremendously contributed towards its present envious position in the banking industry. The bank is based on 'sound fundamentals' and this has helped the bank to earn "AA" rating which is unique among the local banks".

M. Shahjahan Bhuiyan further said that Prime Bank had achieved the first position in the Banking category of ICAB National Award-2006 for best published accounts and reports. "The bank has been maintaining its top position for last consecutive three years. This award in itself is the testimony of the bank's sound financials, transparency and compliance of national and international accounting standard," concluded Shahjahan Bhuiyan.

Mohammad Aminul Haque, Chairman, Executive Committee, former Director Dr. R. A. Gani and Firoja Amin, Deputy Managing Directors of the bank Mahbubul Alam and R.Q. M Forkan, Head of the Branch, Jahan Ara Begum, and a large number of local elites, clients and businessmen were present on the occasion.

Country's first Independent Power Producer in private sector Summit Power Limited on Wednesday held its 10th Extra-Ordinary General Meeting (EGM) at Bashundhara Convention Centre at Baridhara to pass a special resolution for incorporating a new qualifying object clause in the Memorandum of Association of the company to assure the lenders for repayment of facilities granted to any associate or subsidiary company (ies).

The shareholders of the company present at the EGM approved of the incorporation of the new qualifying object clause in the Memorandum of Association subject to the permission of the High Court Division of the Supreme Court of Bangladesh on petition under Section 13 of the Companies Act 1994.

Presided over by Director Syed Fazlul Haque, the meeting was also attended by Tauhidul Islam, Managing Director; Md. Latif Khan, Ms. Ayesha Aziz Khan, Tapan Krishna Podder Helal Uddin Ahmed (all Directors), Mahmud Hasan, Financial Controller and Company Secretary and other senior officials of the company.

Summit Power Limited since establishment in the year 2001 has three power plants each with 11 MW capacity for sale of electricity to Rural Electrification Board (REB) under Build, Own and Operate basis at Savar, Narsingdi and Comilla. The company has already expanded its total generation capacity to 105 MW.

Summit Power Limited is also going to implement another four power plants totaling a capacity of 110 MW. Out of the four power plants, three will be 33 MW each located at Jangalia, in Comilla, Rupganj in Narayanganj, Maona in Gazipur and one 11 MW, located at Ullapara in Sirajgonj through its two subsidiary Summit Uttaranchol Power Company Limited and Summit Purbanchol Power Company Limited. With the establishment of the new projects generation capacity will be raised to 215 MW.

Considering the immense opportunities, the company is striving to establish more small power plants ranging 10MW to 50MW around the country. The fast-growing company has set a mission to expand the company with a power generation capacity to the tune of 1000 MW, which is a modest 20 percent of the electricity requirement in Bangladesh.

Kazi Harun-ar-Rashed, Director of Islami Bank Bangladesh Limited has been propelling a relief team of the bank to carry on a wide range of relief distribution efforts in the devastating super cyclone affected regions. Recently this team set out its journey by the ship M.V. Shella of BIWTC with a good quantities of relief goods. The relief team conducted relief distribution work in the southern parts of the country viz. Barisal, Jhalakathi and Pirojpur through the branches of the areas.

The team consists of top Executives and officers along with Director AK.M.S. Islam, Deputy Executive President Md. Shamsul Haque and Assistant Vice President Mahbub Alam,. A medical team together with the relief team has provided with medical service in the affected places.

On behalf of the relief team, two thousand blankets, six hundred chadars, six hundred sweaters, four hundred curtains and hard cash for four hundred families were handed at Tafalbari, Rayenda and Morelganj in Bagerhat districts; two thousand and four hundred blankets, seven thousand chadars, seven hundred sweaters, four hundred curtains, food items and hard cash for five hundred families were distributed at Sadar Upazilla, Mathbaria and Bhandaria of Pirojpur; six hundred blankets, four thousand chadars, one hundred curtains and food items and hard cash for four hundred families were given at Moulavihat, Sagardi and Gouriarpar of Barisal Sadar Upazilla, Patarhat, Muladi Upazilla and Sarufkathi of Miarhat; five hundred blankets and two thousand and five hundred chadars and two hundreds curtains and hard cash for one hundred families were distributed at Nalsiti, Rajapur and lhalakathi Sadar Upazilla. Besides, the members of relief team, members of joint forces, branch managers and local dignitaries were present at the time of relief distribution.

Earlier, the relief distribution committee handed six hundred blankets, one hundred curtains, food items and hard cash for four hundred families to Faizul Kabir, Vice President of Barisal Branch. Five hundred blankets, two thousand five hundred chadars, two hundred curtains and hard cash for one hundred families were handed to Mohammad Shahidul Islam, Manager of .Jhalakathi Branch at Jhalakathi Launch Terminal by the relief committee.

The relief distribution committee handed two thousand four hundred blankets, seven thousand chadars, seven thousand sweaters, four hundred curtains, food items and hard cash for five hundred families to S.M. Abdullah, Manager of Pirojpur Branch.

Market Express in cooperation with Unilever Bangladesh Ltd recently held a training titled 'Certificate Training Course on Effective Selling Skills’ program in Khulna. The training program is designed to help develop the skill level of young educated unemployed and employed people of the region. Through this training , they will be better equipped to build their career in the sales profession in various organizations.

Eunusur Rahman, Divisional Commissioner, Khulna was present as the chief guest in the program.. Shahed Kamal, Sales Training Manager, Unilever Bangladesh Ltd and Jahir Ahsan, Regional Sales Manager, Khulna were also present on the occasion. Sharif M Hassan, CEO, Market Express, presided over the meeting. Market Express will continue to undertake this type of initiative related to human resources development throughout the country.

A 9-member need assessment team of the Japanese government for the Rehabilitation and Reconstruction of Cyclone Sidr arrived in Dhaka.

The team, which consists of officials from Ministry of Foreign Affairs (MOFA) and Ministry of Land, Infrastructure and Transportation, and staffs of Japan International Cooperation Agency (JICA), dispatched to make need assessment for the rehabilitation and reconstruction from the damage by the cyclone Sidr.

The Mission called on Dr. Mohammad Ayub Miah, Secretary, Ministry of Food and Disaster Management to exchange views on how best the Japanese government can support Bangladesh to overcome the damage caused by the cyclone. During the 9-days visit, the Mission will visit the Sidr affected areas in southwest region of Bangladesh as well as will hold discussions with other concerned officials of the Government of Bangladesh and stakeholders on various issues relating Sidr.

The government of Japan has already provided emergency relief goods worth 390,000 USD and grant assistance of 3.67 million USD through WFP, UNICEF and WHO. The result of the mission will contribute to the consideration of further necessary Japanese support in this area.