The New Nation - Internet Edition

ADB awarded three best performing project teams

ECONOMIC REPORTER

Bangladesh Resident Mission of the Asian Development Bank (ADB) Wednesday awarded three best performing project teams implementing ADB-supported projects in Bangladesh.

The 2007 award-winning project teams are the Northwest Crop Diversification Project (NCDP) implemented by the Department of Agriculture Extension and Bangladesh Bank, and the Urban Governance and Infrastructure Improvement (Sector) Project (UGIIP) and the rural infrastructure improvement project (RIIP)--both implemented by the Local Government Engineering Department (LGED).

ADB Country Director Hua Du handed over the plaques and certificates to the project directors, coordinators and project representatives at a ceremony at the ADB's Dhaka office.

Senior government officials, award-winning project team members and ADB staff attended the function.

"The awards were given recognizing the project teams' excellent performance, efficiency, integrity, transparency in procurement, effective project implementation, achievement of targets, innovations, strong leadership, overcoming project start-up delays, efforts in women's empowerment and other criteria," Hua Du said.

NCDP, which coves 61 upazilas of 16 north-western districts, is helping to increase income of small farmers by promoting high value crops, disseminating appropriate modern production technologies, and improving the rural marketing system, management and infrastructure through public-non-government organizations (NGO) partnerships.

The project also promotes women empowerment and contributes to export diversification, import substitution and improving balanced nutrition by increasing access and availability of fruits, vegetables and spices.

UGIIP aims to promote human development and good governance in 30 selected municipalities to enhance management accountability and strengthen capabilities in providing services, develop physical infrastructure and urban services to increase economic opportunities and reduce vulnerability to environment degradation, poverty and natural hazards.

RIIP is helping to alleviate rural poverty through improving rural roads, markets and union council office complexes in 16 districts of Khulna and Barisal divisions. The project will enable farmers to reach markets more easily for selling their produce and buying seeds and fertilizer, and provide easier access for rural children to school.

Hundreds of destitute women are being given jobs to plant trees and maintain the roads, and the rural population will get access to health and other social services provided by the government organisation and NGOs, says a press release.

Asset Magazine awards Citi as Best Bank in Asia

ECONOMIC REPORTER

Citi was awarded best bank in Asia by the editors of the Asset Magazine for 2007. This is the eighth year in a row that Citi has picked up best bank from the Asset Magazine, one of Asia's leading monthly financial markets magazines.

"Citi has shown leadership across a broad spread of banking activities including corporate finance, investment banking, advisory, financing and structuring.

Citi has built a franchise in all these areas that is unmatched by its peerstit has stood behind its clients in the region, offering them the opportunity to realize their business goals," read the editorial write up on the Best Bank awards.

In 2007, Citi raised over US$30bn for its Asian clients across the region from debt and equity capital markets and was also involved on 102 announced M&A transactions worth close to US$250bn.

Many of these transactions also picked up awards, including best deal in India, best deal in Thailand, best convertible bond, best bond, new bond, corporate bond, best investment grade bond, best liability

management, best syndicated loan and best domestic securitization.

Citi also picked up best Asian bond house and best Asian leveraged finance house at the annual awards.

"This recognition from the Asset Magazine is testament to the dedication and performance of our employees across the region. To be awarded best bank eight years in a row is a great honour, especially as Asia becomes ever more competitive.

I would also like to thank our clients, who place their trust in us - this award would not be possible without their support," said Robert Morse, CEO Asia Pacific Markets & Banking at Citi.

The City Bank goes to centralisation process

ECONOMIC REPORTER

The City Bank has already trained 500 people in Corporate Banking, SME, Retail Banking, Credit Risk management and Credit Administration Group.

As part of centralisation process recently Credit Administration Department (CAD) received a comprehensive training on various IT templates to institute the centralised disbursements, adjustments and monitoring of loans and advances. CAD Centralisation Team will primarily work two locations namely Dhaka and Chittagong to cover all 83 branches in the country.

With this reengineered process, client experience in the branches will be enhanced. Kizi Azizur Rahman, Head of IT Division of The City Bank pioneered the training programme.

AB Bank Signs MoU with GoldSmith Bangladesh

ECONOMIC REPORTER

The Arab Bangladesh Bank Limited (AB Bank) has signed a Memorandum of Understanding (MOU) with the prime ornament producing company 'GoldSmith Bangladesh' to issue personal jewellery loans "Gold Grace."

President and Managing Director of AB Bank Kaiser A Chaudhury and ATKM Azmal from GoldSmith formally signed the agreement on Tuesday Night at a local hotel in the capital.

When the price of gold is increasing day by day, middle income families find it immense difficult to purchaser the gold ornaments, which is a pert of our Bengali traditions, said President AB Bank. Since, Bengali wedding and other occasions are unthinkable without gold jewellery, we have introduced jewellery loans with easy and affordable conditions to enable our middle income families meet the tradition, he said while speaking on the occasion.

"With our launching Gold Grace jewellery loan scheme, our clients could borrow money according to their requirements from Tk 50,000 to Tk 3,00,000 range," he said. According to him, the loans could be repayable through 12, 24 or 36 affordable installments. Interest rate with this scheme is only 16 per cent, he added. This scheme was targeted to self employed personals and employed male and female between 22 to 52 age group who earns minimum Tk 10,000 per month, he added.

This agreement between a Jewellery manufacturer with a financial organization is expected to make history, said ATKM Azmal from GoldSmith.

"When the price of gold has gone beyond the reach of common people, bank loans like this would relief our customers. This would increase the price of our customers as well," he added.

Premier Bank holds workshop on 'Credit Risk Management'

The Premier Bank Limited arranged a daylong workshop on 'Credit Risk Management' for the Senior Management of the Bank. It was held at the Bank's Training Institute, Hall Room, Iqbal Centre, (4th Floor) Banani, Dhaka on Tuesday 19th February 2008.

Khondker Fazle Rashid, Managing Director of the Bank inaugurated the workshop as Chief Guest while Additional MD of the Bank Md. Mokhlesur Rahman Head of Credit Division Shahadat Hussain were also present. in the workshop.

Khondker Fazle Rashid, Managing Director of the Bank in his speech indicated the impact and implication of proper implementation of guidelines of Central Bank(B.B) in this regard and called upon the participants to take care in handing credit issues in branches. Finally he advise that the officers working in a bank must know the techniques of managing credit risk to ensure high return on their assets.