The New Nation - Internet Edition

EBL launches 'TraveLoan'

BUSINESS REPORTER

Eastern Bank Ltd yesterday announced the launching of travel financing solution, titled 'EBL TraveLoan.'

Ali Reza Iftekhar, Mangaing Director and CEO formally announced the launching of 'EBL TraveLoan' at a press conference at Sonargaon Hotel in the city.

Mamoon Mahmood Shah, Head of Consumer Banking of EBL and Nazeem A Chowdhury, Head of Marketing of EBL also spoke at the press conference.

The loan will be available in both secured and unsecured versions. In terms of secured travel loan, loan amount will be 90 per cent of the security deposit (EBL FD). There will be an easy instalment repayment system ranging from 12 months to 60 months. A client can receive loan amount starting from minimum Tk 50,000 to maximum Tk 5,00,000 as travel loan. EBL will charge a processing fee either one per cent of the loan amount, or Tk 2,000. It will allow advance and partial payment. Loan will be disbursed directly to customer account, and for receiving loan no personal guarantee will be required.

There will be a 50 per cent waiver on processing fee for EBL dual currency credit card holders. It will also provide waiver of 50 per cent on dual currency card issuance fee for travel loan borrowers. In terms of unsecured travel loan, EBL will consider Tk 50,000-Tk 5,00,000 or 10 times of gross monthly income which ever is lower. Loan above Tk. 2,00,000-air ticket fee (including co-traveler) to the travel agency will be made by EBL by Pay Order from EBL; 80 per cent of the remaining loan amount through TC/cash foreign currency endorsement from EBL and balance will be send to customer account with EBL in Cash.

EBL will charge 18 per cent interest on the travel loans. A client, if he is a serviceholder and drawing a monthly salary of Tk 15,000 or if a client is a businessman and earning Tk 20,000 per month, both will be eligible for the loan. Additional supporting documents like valid passport photocopy, valid visa of travelling country (for unsecured loan) and travel quotation from travel agency (for unsecured loan) will be a prerequisite for receiving the loan.

Pubali Bank opens branch at Raozan

Business Report

Pubali Bank Limited has inaugurated its Raozan branch at Chittagong recently.

Chairman, Board of Directors of Pubali Bank Ltd Hafiz Ahmed Majumder formally inaugurated the branch as the chief guest, while Managing Director of Pubali Bank Helal Ahmed Chowdhury presided over the function.

Directors of PBL Moniruddin Ahmed, Sk Wahidur Rahman, Giasuddin Ahmed, Monzurur Rahman, Ahmed Shafi Chowdhury, Fahim Ahmed Faruk Chowdhury and Alternative Director Kabiruzzaman Yakub were also attended the ceremony. In his speech, Hafiz Ahmed Majumder said that Pubali Bank is committed to providing the best and innovative banking services needs of the market in fastest possible time. As part for providing better services and clients' increasing demand Pubali Bank has opened its Raozan branch at Raozan.

He expressed his hope that Pubali Bank would surely serve its customers with utmost satisfaction by applying modern technology through this branch.

Directors' Moniruddin Ahmed, Sk Wahidur Rahman, Giasuddin Ahmed, Monzurur Rahman, Ahmed Shafi Chowdhury, Fahim Ahmed Faruk Chowdhury and Alternative Director Kabiruzzaman Yakub also delivered speeches at the function. They urged all to take banking services through the Pubali Bank.

In his speech, Helal Ahmed Chowdhury said that Pubali Bank has been providing better services to its customers since 1959 with a promise to keep up its original tradition.

He also said, PBL gives priority to provide opportunity and advantage to the customers through application of modern technologies. With a view to expanding the scope of services, the bank has opened its Raozan branch.

Helal Ahmed Chowdhury said Pubali Bank recently introduced 'Non-Resident Credit Scheme'. One can take financial help through this scheme who goes abroad for employment.

He said that all branches are computerised and expressed his hope this branch would remarkable contribution in the business development of this area.

He also urged all the local people for extending cooperation to the bank.

Chief Financial Officer of PBL ATM Hasanuzzaman, General Manager of Chittagong Mohammad Firoz Khan, Regional Head of Chittagong North Region DGM Md. Humayun Kabir, Company Secretary Pradip Kumar Sen, local elite and renowned businessmen also attended the function.

BRAC Bank signs MoU with Intraco CNG Ltd

BUSINESS REPORT

BRAC Bank signed a Memorandum of Understanding (MoU) with Intraco CNG yesterday in the city.

Zabed Amin, Head of Retail Banking, BRAC Bank Limited and Irad Ali, Deputy Managing Director of Intraco CNG Limited signed the MoU on behalf of their respective organisations.

Abedur Rahman Sikder, Head of Marketing and Corporate Affairs, BRAC Bank, Abdur Rahman, Head of Non-Funded Business and Secured Value Center of BRAC Bank and Najmun Nahar, Chief Operating Officer of Intraco CNG Limited were present at the signing ceremony. Senior officials of both organisations were, among others, present.

Under the agreement, BRAC Bank Car Loan clients will enjoy discounted rates and exclusive services from Intraco CNG Limited. Following are the key benefits and services that Intraco CNG will provide to the car loan clients referred by BRAC Bank Limited: Exclusive discounts on regular CNG conversion price for EFI type vehicles, premium service will be offered to BRAC Bank car loan clients at the Intraco CNG filling stations, 20 months service warranty for kit (without electrical parts) and five years' warranty for cylinders, 30 per cent discount on the after sales service membership card, free computerised cylinder re-test facility (for first 20 months), 24-hour after sales service at any Intraco CNG outlet all over Bangladesh including mobile ambulance service for roadside troubleshooting .

Tata Motors, Nitol Motors launch CNG-driven bus

BUSINESS REPORT

Tata Motors of India and its local distributor Nitol Motors Ltd yesterday jointly launched a long distance version of CNG-driven bus in Bangladesh at a function held at Bangladesh China Friendship Conference Center in city yesterday.

Musabbir Ahmad, Managing Director, Nitol Motors presided over the launching ceremony.

Sudhakar Dalela, Counsellor (Economic and Commerce), High Commission of India in Bangladesh was present as the chief guest. Sujoy Nag, Senior Resident Representative, Tata Motors and N Ramchandran, Country Manager of Tata Motors were present as special guests at the launching ceremony.

This new model of Tata bus fitted with internationally renowned Cummins CNG engine, incorporates various standard safety features as per international norm, besides several new features, like additional safety CNG cylinder storage capacity of 793 litres Waveller type suspension for softer riding comfort, heavy duty differential with larger tyres, standard, all of which are ideally suited for long distance travel. Over 1100 buses fitted with Cummins CNG engine are already very well accepted for their reliability and operation success in Bangladesh since 2005.

Tata Motors and Nitol Motors have a joint venture company under the name-NITA Ltd for the assembly and progressive manufacturing of Tata commercial vehicles in Bangladesh. It has so far assemble and sold over 13500 Tata vehicles. The company has recently diversified into bus and truck body manufacturing.

Popular Pharmaceuticals holds annual conference

BUSINESS REPORT

Annual conference-2008 of Popular Pharmaceuticals Ltd was held recently at Bangladesh-China Friendship Conference Centre in the city.

The meeting was presided over by Dr. Mostafizur Rahman, Managing Director of Popular Pharmaceuticals Ltd.

He said Popular Pharmaceuticals is well-known for its uncompromising quality in the local and global market.

"Popular Pharmaceuticals Ltd is the first company in Bangladesh, which has manufactured and made available Insulin injection (Insul), an essential life-saving drug for the diabetic patients and has achieved their confidence," he said.

Chief Operating Officer of Popular Pharmaceuticals Ltd Dr Pinaki Bhattacharya praised the success of Popular Pharmaceuticals Ltd in last year and gave future guidelines of the company in his welcome speech.

Product Promotion Manager Khondkar Khaled Alhossainy and other high officials assured that through achieving the objectives, Popular will contribute significantly to the health sector of Bangladesh.

Chairman of the company Mrs. Tahera Akhter rewarded the top achievers on this occasion.

Workshop on 'Practice of Islamic Banking' at IBBL

BUSINESS REPORT

A four-day long workshop on 'Practice of Islamic Banking' for the senior executives of the Bank of Ceylon, Sri Lanka was organised by Islami Bank Training and Research Academy (IBTRA) on March 10 last at the Board Room of Islami Bank Tower in the city.

Mominul Islam Patwary, Chairman, Executive Committee of the bank was present in the function as the chief guest.

Presided over by M Fariduddin Ahmad, Executive President of the bank the function was attended, among others, by Mohammad Shamsul Haque, Mohammad Abdul Mannan and Md Habibur Rahman, Deputy Executive Presidents and top executives of the bank.

A four-member delegation led by M Kiridaran, Chief Legal Officer and Deputy CEO of Bank of Ceylon have been participating in the workshop. Speaking at the inaugural ceremony, Mominul Islam Patwary said Islami Shari'ah is the main inspiration of Islami Bank and investment of the bank is open for all irrespective of religion and colour. Islami banking system is the only way to emancipate people from financial exploitation.

M. Fariduddin Ahmad, Executive President of IBBL said in his presidential speech that IBBL is going to be established as the recognised bank all over the world. IBBL has brightened the image of the country in the international arena. He assured to provide all types of cooperation from IBBL to the officials of the Bank of Ceylon.

Syed Waseque Ali joins First Security Bank as Senior Executive Vice President

Syed Waseque Md. Ali has joined First Security Bank Ltd as Senior Executive Vice President recently. He will be heading the Marketing and Development of the bank.

He was working as Executive Vice president with Douth Bangla Bank Limited.

He started his Career in 1982 with IFIC Bank and held various leadership positions during his tenure with the bank. .

" He attended various training in home and abroad.