The New Nation - Internet Edition

IDB believes in empowerment of family thru' HR development

BUSINESS REPORTER

Recently a delegation of Islamic Development Bank (IDB) headed by Nabil A Nassief, Adviser in Charge, Islamic Financial Services Department, IDB visited Head Office of Islami Bank Bangladesh Limited at Islami Bank Tower and exchanged views with the Directors and Senior Executives of the bank at a meeting at the Board Room.

Other members of IDB delegation are Abdelaziz Slaoui Andaloussi, Micro Finance Specialist, Sayefuddin, Field Representative, Farookuzzaman, Adviser, IDB.

The discussion meeting was presided over by Mominul Islam Patwary, Chairman, Executive Committee. The meeting was attended, among others, by Kazi Harun-ar-Rashed, Chairman, Audit Committee, Engr Md Eskander Ali Khan, Director, Mir Quasem Ali, Member Secretary, Islami Bank Foundation, Md Abdur Rashid Chowdhury, Ex-Director, M Fariduddin Ahmad, Executive President, Abdur Raquib, former Executive President, Azizul Haq, Consultant Islami Banking, AB Bank Limited, Mohd Shamsul Haque and Md Habibur Rahman, Deputy Executive Presidents and Senior Executives of the bank.

Nabil A. Nassief, Adviser Incharge, Islamic Financial Services Department, IDB briefed the meeting on the background of establishment of the department and its role in further expanding Islamic banking institutions through establishment of new institutions and through mergers of smaller Islamic Banks besides capacity building for the industry in line with the vision of IDB adopted in the year 2005.

He also briefed the meeting on the development of poverty reduction fund of US$10 billion with a view to promoting the cause of Microfinance Development Programme for alleviation of poverty from Muslim countries and Muslim communities of non-muslim countries of which Bangladesh is one of the four pilot projects countries.

Nabil Nassief appreciated the achievements of IBBL and that IDB is aspiring IBBL to be a leader in the region like a world class bank in the Islamic Financial Industry.

Abdelaziz Slaoui Andaloussi informed the meeting of the special IDB micro-finance programme for Palestine which is aimed at empowering family with finance and social sector support so that comprehensive human resource development target is achieved instead of so-called female empowerment.

The approach is targeted to a multi sector, integrated and comprehensive Islamic development programme.

M. Fariduddin Ahmad, Executive President of the bank informed that IBBL is actively associated with the international level in all Islamic banking fora.

Pubali Bank launches 'Non-Resident Credit Scheme'

BUSINESS REPORTER

First ever in Bangladesh Pubali Bank Limited has recently started a collateral security free credit line titled 'Non-Resident Credit Scheme' for financially supporting those who intend to go abroad for employment.

Inaugurating the project Managing Director of Pubali Bank Ltd Helal Ahmed Chowdhury has handed over a cheque to Abdus Sattar Majmder, a Dubai-going employment- seeker. Chief Financial Officer of PBL ATM Hasanuzzaman, General Manager of PBL Mirza Ali Insaf, Mizanur Rahman Molla, M. Mustafizur Rahman, Md. Iqbal Hossain Chowdhury, A.H.M. Badrul Alam, Md. Rasul Amin and other senior executives of Human Resources Division were present in the function.

City Bank holds conference on Cards Business

BUSINESS REPORT

Recently The City Bank Limited has arranged a conference on its Cards business. It was attended by representatives and branch managers from all its 83 branches.

The conference focused on launching of three new products in Credit Card. Among the products, "City Card Variable Interest" offers a facility where customers enjoy a special 4-8% reduced interest rate when transaction volume is above Tk 50,000.

The 2nd product 'City Card Balance Transfer' offers 8% reduction in rate if other banks' card liability is brought to City Bank. The 3rd product 'City Card EMI Plan' allows customers to pay card dues in 36 installments at a 13% reduced rate.

The conference was inaugurated by bank's Managing Director and CEO K Mahmood Sattar.

DMD Sohail RK Hussain and Head of Retail Banking Mashrur Arefin were present. The programme was conducted by Anwar Hossain, Head of Business Cards.

Krishi Bank balance sheet okayed

Krishi Bank Chairman Khondkar Ibrahim Khaled presided over the 454th board meeting of the bank in the board room at the bank's head office on March 25 last. The balance sheet of the bank for the financial year 2006-2007 was approved at the meeting. Some important decisions were taken on various activities of the bank. The members of the Board of Directors, Managing Director, two Deputy Managing Directors, all General Managers of head office, Secretary of the Board of Directors along with concerned Deputy General Managers were present on the occasion.

Janata Exchange Co board meeting held in Rome: Chairman advises to increase flow of remittance from Italy

BUSINESS REPORT

S M Aminur Rahman, CEO/MD of Janata Bank Limited presided over the board meeting as Chairman of Janata Exchange Co Srl Italy (a wholly owned subsidiary of Janata Bank Ltd) held recently in Rome. SM Shamsul Alam, MD JEC, Mrs. Sultana Afroz, Economic Counselor Bangladesh Embassy, Italy, Cinzia Perugini, President of the Board of Auditors, Fabio Barto, Member of the Board of Auditors, Clara Perubani, Member of the Board of Auditors, Roberto Saraceni, Chattered Accountant and Commercialist, Beartrice Szumu, Secretary, JEC and other executives were present at the board meeting.

Rahman approved the balance sheet ended in 2006 and discussed elaborately about the implication of Italian privacy law and anti-money laundering law for taking appropriate measure. Besides, decision was taken to the effect that 70% dividend to be remitted to Head Office, Dhaka and 30% to be retained in Italy.

Apart from that he advised all the officials of JEC to maintain close liaison with the expatriates in Italy to increase the flow remittance remarkably through JEC.

United Leasing earns Tk 144.5m after-tax profit

BUSINESS REPORT

The 19th annual general meeting (AGM) of United Leasing Company Limited was held at Bangladesh-China Friendship Conference Centre, Dhaka on March 25 last.

The company earned an after-tax profit of Tk 144.54 million in 2007 (Jan-Dec). Cash dividend of Tk. 20/- per share and one bonus share for every ten shares for the year 2007 was declared at the AGM. Imarn Ahmed, Chairman of the company, presided over the proceeding.

Mahbub joins Prime Bank as DMD

Syed Mahbubur Rahman joined Prime Bank Limited as Deputy Managing Director on March 16, 2008.

Prior to joining Prime Bank Limited, he was Director and Head of Financial Institutions of Citibank, N.A., Bangladesh.

Mahbub has been working in the banking industry for about 20 years, mainly concentrating on the corporate banking business. He started his career by joining Saudi Bangladesh Agricultural and Industrial Investment Co (SABINCO). He also worked with IDLC, and Standard Chartered and the then ANZ Grindlays bank in different capacities.

During his long banking career he underwent various training courses and participated in seminars and workshops on different aspects of banking held in the country and abroad and gained excellent exposure in all modern concepts of banking. Mahbub is an MBA from Institute of Business Administration, University of Dhaka.

UAE contribution to IUT

Ghazi Abdulla Al-Ashoor, Charge d' Affaires of the Unite Arab Emirates in Bangladesh, handed over cheques totaling US $329.543 to Prof. Dr. M. Fazli Ilahi, Vice-Chancellor, Islamic University of Technology (IUT) when he called on him at his office on March 25 last as full settlement of UAE contribution to the budget of IUT, a subsidiary organ of the Organisation of the Islamic Conference (OIC) up to the financial year 2008.

The Vice-Chancellor thanked the Charge d' Affaires and the Government of United Arab Emirates for this as well as for previous contributions and the moral support given to the university. He described the ongoing academic activities of the university and the Charge d' Affaires assured the Vice-Chancellor of continued help and assistance from the United Arab Emirates to this prestigious university of the Organisation of the Islamic Conference for its overall development.

DCCI observes Women's Day 2008

A Training Workshop on Managerial Skills Development for Women Entrepreneurs (WEs) was organised at the Dhaka Chamber of Commerce and Industry jointly with the BRAC Bank Limited with an objectives to enhance managerial skills of the women entrepreneurs in commemoration of International Women's Day-2008. The objective of the workshop was to enhance capacities of the WEs so that they can sustain both at home and abroad with competitive products.

Dasgupta Ashim Kumar, General Manager, Bangladesh Bank (BB) was present at the inaugural session. He informed the women entrepreneurs about the willingness of the Bangladesh Bank to help them in getting finance. He informed that BB has a refinancing scheme in operation of Tk 100 crore to be disbursed to the women entrepreneurs at a lower interest rate.

The decisions of the BB in that respect is that if a schedule bank provided loan to SME women entrepreneurs at a 5% interest rate, BB will refinance them at the bank rate of 5%. He informed that though BRAC Bank has been successful in disbursing SME loan to women entrepreneurs, they are not taking the benefits of refinancing provided by the BB. He informed that BB is ready to extend any sort of advisory services to the SME entrepreneurs and specifically women entrepreneurs.