The New Nation - Internet Edition

UNB, Dhaka

Bangladesh Bank is considering easing the 'limitations' of newly transformed Government-Owned Commercial Banks (GCBs) to help them become competitive with other commercial banks operating in the country. "We've given them (GCBs) a positive gesture in this regard," Governor Dr Salehuddin Ahmed told reporters after a meeting with the chief executive officers of the banks at the central bank today (Monday).

He said the banks namely Sonali, Janata and Agrani have caps in paid-up capital, annual credit growth and single borrower limit, as well as shortage of manpower, restricting them to come up as commercial banks in the present competitive banking industry.

The governor, who chaired the meeting, added that the caps were imposed in 2003 on the state-owned banks at the context of that time under separate Memorandum of Understandings (MoUs), but the context has now changed with their conversion into public limited companies (PLCs).

"The Bangladesh Bank would ease the limitations as soon as possible to make the banks commercial ones," he said, adding that the central bank would review the MoUs. It would, however, require some time. The CEOs of the GCBs pointed out the limitations at the meeting, seeking Bangladesh Bank's intervention to remove the bottlenecks and help the banks run commercially. They also pointed out the manpower shortage in the GCBs.

Dr Salehuddin said the GCBs would undertake a process to recruit manpower on their own while they have already applied to the government for their recapitalisation. The meeting was told that the banks were running short of capital due to government borrowing.

He said the government would send the recapitalisation proposals back to the Bangladesh Bank for its review and then the government would take decision in this regard. The process would be completed within a month, he added. The Governor said he would request the Ministry of Law to look into the legal complexities the banks were facing to recover particularly the large loans. He said the meeting, however, observed that the recovery of small and medium overdue loans was taking place to some extent. The Governor asked the GCBs to make their field officers more active to successfully disburse agriculture loans as they have major role in this regard.

They were also asked to pump some more funds from the excess liquidity into the banking system in addition to their agriculture credit target of Tk 1,400 crore in the Sidr-hit areas to help rejuvenate the battered economy of the region.

A meeting of the Shari'ah Council of Islami Bank Bangladesh Limited was held on Saturday, at bank's Board Room at Islami Bank Tower. Moulana Delawar Hussain Sayedee, Vice Chairman of the Shariah Council & former Member of Parliament presided over the meeting.

The meeting was attended by Mufti Sayed Ahmed, Head Mufti of Al Jamiatus Siddikiah Darnl Ulum (Madrasah-e-Furfura Sharif), Dhaka, Mohammad Serajul Islam, former Principal of Madrasah-e-Mesbahul Ulum, Motijheel, Advocate Mujibur Rahman, Senior Advocate, Bangladesh Supreme Court, Moulana Abdus Shaheed Naseem, President, Bangladesh Quaran Shikkha Society, Dr. Hafez Moulana Hasan Muhammad Moinuddin, Chairman, Dawah & Islamic Studies Department, Darnl Eahsan University, Dhaka, Dr. Moulana A. S. M. Toriqul Islam, Associate Professor, Islami University, Kushtia, Dr. Md. Abdus Samad, Assistant Professor, Department of Arabic, International Islamic University Chittagong, Dhaka Campus, Abdur Raquib, former Executive President of Islami Bank Bangladesh Limited, Dr. Manzur-e-Elahi, Assistant Professor of National University & Moulana Muhiuddin Rabbani, Muhaddis, Fayzul Ulum Madrasha.

M. Fariduddin Ahmad, Executive President, Deputy Executive President Mohd. Shamsul Haque, Mohammad Abdul Mannan & Md. Habibur Rahman, Deputy Executive Presidents, Syed Abdullah Mohammed Saleh and Md. Habibur Rahman Bhuiyan, FCA, Executive Vice Presidents and Md. Shamsul Huda, Senior Vice President of Shari'ah Council Secretariate were present in the meeting.

Dutch-Bangla Bank Limited landed its 45th branch at Cox's Bazar (Zilani Complex, Laldigir East Par, Main Road) on December 13 with Truly On-line Banking facilities from the very opening day. The branch was inaugurated by Md. Yeasin Ali, Managing Director of the bank. Earlier DBBL installed 3 ATM booths at different locations of Cox's Bazar town to facilitate the customer's round-the-clock banking services like cash withdrawal, balance enquiry, mini-statement, payments of utility bills, etc. It is mentionable that DBBL is the first and only bank which has installed ATM booth in Cox's Bazar.

Local elite, business personalities, bankers, educationists and local journalists were present at inaugural ceremony. The respected guests, residents of the locality and owners of business houses/shops showed their spontaneous enthusiasm by opening account with the bank.

The opening ceremony started with a doa-mahfil seeking blessings of the Almighty Allah for successful operation of the branch, prosperity of the business community, depositors of the bank and stakeholders. The distinguished guests of inaugural ceremony opined that, Dutch Bangla Bank Limited is not only rendering present-day customer need-focused banking services but also the bank spends a significant portion of its annual profit for carrying out a wide range of philanthropic activities from which the society at large is benefited. Among others, Osman Sarwar, Ex-MP. & Ex-Ambassador in U.A.E, Bonoz Kumar Mojumdar, Superintendent of Police (SP) in Cox's Bazar District, Mohammad Ali, President of Cox's Bazar Chamber of Commerce & Industry, Sarwar Kamal, Chairman of Cox's Bazar Municipality and Additional Managing Director Mr. AHM Nazmul Quadir of Dutch-Bangla Bank were also present at the inaugural function.

The UK's Secretary of State for International Development, Douglas Alexander MP, arrive s today in Bangladesh for a short visit.

During his visit to Bangladesh Alexander intends to visit southern areas affected by Cyclone Sidr, to see the practical impact of the UK's $14 million relief assistance in helping Bangladeshi people to reconstruct lives and livelihoods. Mr Alexander said,

"I, like many in the UK, was deeply saddened by the loss of life and the devastation caused to Bangladesh by Cyclone Sidr. We salute the resilience of the Bangladeshi people in the face of adversity. As friends of Bangladesh, the UK will continue to support both the immediate relief effort and the longer-term measures to rebuild and adapt livelihoods and protect against the impact of future disasters."

Alexander will also call on the Foreign Affairs Adviser and the Finance Adviser to discuss the UK's development relationship with Bangladesh, and the Caretaker Government's progress on the roadmap to elections before the end of 2008. Additionally, he will visit slum sites which are being transformed by the new DFID-supported 'Urban Partnerships for Poverty Reduction' programme. His visit will conclude with a press conference on 19 December. Alexander previously visited Bangladesh in December 2004 in his capacity of Minister of State at the Foreign and Commonwealth Office.

Shahjalal Islami Bank Limited (SJIBL) opened its 25th branch at Bazar Road, Savar, Dhaka on 13 December. The Founder Director of the bank Md. Sanaullah Shahid formally inaugurated the branch as chief guest. The chairman of the bank Akkas Uddin Mollah, Vice-Chairmen of the Board Mohammad Hasan and Syed Nurul Arefeen, Directors Anwar Hossain Khan, Mohammad Solaiman, Md. Masud, Managing Director Muhammad Ali, DMD Md. Jillur Rahman and Founder Chairman of Electra International Ltd. Md. Shahidullah and local businessmen, industrialists and distinguished personalities were present in the opening ceremony.

Akkasuddin Mollah said, Shahjalal Islami Bank provides better services to its clients with latest technology. As a result, banks clients and area of services are expanding day by day.

Managing Director of the bank Muhammad Ali focused on different schemes with a view to improve the deposit base of the bank.

He informed that these schemes are alrady being very popular. The bank has already taken necessary measures for the expatriates to remit money, he added. He expressed gratitude to the clients and well wishers for their continued support.

The opening ceremony included reciting from the Holy Quran, Milad Mahfil was held at the branch premises.

The 62nd meeting of the Board of Directors of Islami Commercial Insurance Co. Ltd. was held recently in the board room of the company presided over by Md. Anower Hossain, Chairman, Board of Directors. The board deliberated on different policies & operational issues regarding business of the company and rendered necessary guidance to the management to accelerate its overall growth & development.

The meeting was attended, among others, by directors and executives of the company, namely M. Kamaluddin Chowdhury, Niaz Ahmed, A.Z.M. Shamsul Alam, Adviser of the Company and AK Momtaz Khan, Managing Director.

Standard Chartered Bank launched 'evening banking services’ at its Banani Cash Booth on Kemal Ataturk Avenue, Banani, Dhaka. The Evening Banking Services will benefit the businesses in the locality by offering banking services beyond normal banking hours. Customers can now withdraw cash and deposit cash cheque every working day from 6:00 p.m. 8:00 p.m.

Taufique Arefeen, Branch Sales & Service Manager, Banani Cash Booth, Standard Chartered Bank formally inaugurated the evening services of Banani Cash Booth recently. Tanvir Haider Chaudhury, Head of Shared Distribution & Service Quality, Standard Chartered Bank was also present on the occasiontogether with senior officials of the bank.

Experience Accessories Co. Limited is going to establish garments accessories industry in the Dhaka Export Processing Zone soon.

The company is jointly sponsored by the British, the Pakistani and the Bangladeshi.

The jointly owned company will invest US$ 6.25 million which will manufacture Carton, Woven & Printed Label, Thread, Poly Bag, Button, Zipper and Interlining (Woven & Non Woven). M/s. Experience Accessories Co. Limited will create employment opportunity for 198 Bangladeshi and 03 foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Zones Authority and M/s. Experience Accessories Co. Limited in BEPZA Complex, Dhaka on Thursday A.Z.M. Azizur Rahman, General Manager (Investment Promotion) of BEPZA and Maqsood Ahmed, Managing Director of M/s. Experience Accessories Ltd. signed the lease agreement on behalf of their respective organisations.

Among others, Brig. General Ashraf Abdullah Yussuf, Executive Chairman, Manager (Industrial Relations) Md. Abdus Sobhan and Assistant Manager (Public Relations) Khadiza Parvin of BEPZA were present at the signing ceremony.