The New Nation - Internet Edition

Islami Bank celebrates Siver Jubilee

BUSINESS REPORT

Islami Bank Bangladesh Limited (IBBL) is celebrating Silver Jubilee on the occasion of its 25th founding anniversary today (Sunday).

IBBL started its journey on March 30, 1983 with Tk 50 crore authorised capital and Tk 6 crore 75 lac as paid up capital. Now it reaches at Tk 500 crore authorised capital and Tk 380 crore 16 lac paid up capital.

Presently IBBL is operating with its 186 branches, among which 81 (44%) are situated in rural and 105 (56%) in urban areas.

The total deposit of IBBL reached at Tk 17,000 crore presently with a growth rate of 22% as against the same period of the previous year. A number of deposit schemes are run by the bank, among which, Mudaraba Waqf Cash Deposit Scheme, Mudaraba Hajj Savings Scheme, Mudaraba Muhor Scheme and Mudaraba Savings Bond are prominent.

The total investment of IBBL is more than Tk 18,000 crore at present. The growth rate of investment is 40% against the same period of the previous year.

IBBL plays a vital role in poverty alleviation by creating employment facilities through investing 55% of the total investment in the industrial sector. Among the investment schemes, investment schemes for doctors, transport investment scheme, car investment scheme, SME investment scheme and rural development scheme are mentionable.

Islami Bank is the pioneer for introducing rural development scheme in the country's banking sector. The scheme has given investment facilities to 3,55,598 recipients of 10,184 villages under 129 branches of the country since 1995. Approximately Tk 1,397 crore has been disbursed at the rate of maximum 10% profit among the clients, 92% of whom are women.

Islami Bank has occupied the position of market leader in foreign exchange business. The bank has operated foreign exchange business of Tk 28,792 crore in 2007 which means 43% growth rate compared to the previous year.

Total import business was Tk 13,709 crore and the growth rate was 42% while export business was Tk 6,669 crore with 30% growth. And total remittance was Tk 8.414 crore with 56% growth rate.

Islami Bank has introduced Expatriate Welfare Desk in every branch to deliver their money to their relatives within short time. IBBL has started new products to hand over the money of the remittance to its clients promptly. Modern technologies like SWIFT and Internet are being used in this programme. New countries are being involved in the drawing arrangements. Seven representatives of IBBL are working in four countries of Middle East to serve the expatriates. The bank is going to send representatives to some other countries soon. Activities of drawing money are running with more than 64 banks and exchange houses. The figure is going to touch the number 80 soon.

IBBL has established banking correspondence with 870 Institutions of 90 countries around the globe.

Islami Bank serves the distressed people through Islami Bank Foundation. It also gives financial help to the poor people through 26 projects including income generating activities, health care, relief and rehabilitation, educational and humanitarian activities. lslami Bank has achieved the recognition of the 'Best Bank' by different institutions at home and abroad. The Institute of Cost and Management Accountants of Bangladesh has awarded as the 'Best Corporate Bank Award' to Islami Bank Bangladesh Limited. New York based financial magazine Global Finance awarded IBBL as the Best Bank of Bangladesh in 1999, 2000,2004 and 2005.

Through the journey of a quarter century, IBBL has led many a distressed people to the peak of success and made the destitute happy. The bank stretched hands to help the affected people in flood and Sidr. It has brought international recognition for the country. Undoubtedly IBBL is a partner of development and advancement of the country.

Islami banking system is now a reality for the present economic world. It is our expectation that Islami Bank will develop the standard of customer services and continue its past success.

SME Foundation holds AGM

BUSINESS REPORT

Small and Medium Enterprise Foundation held its second Annual General Meeting (AGM) yesterday at BIAM Foundation auditorium, with Abdul Muyeed Chowdhury, Chairperson of SME Foundation in the chair.

Bangladesh Enterprise Institute President Farooq Sobhan and Women Entrepreneurs Association chairperson Nasreen Awal Minto were present at the AGM.

Earlier, the government nominated Abdul Muyeed Chowdhury, former Adviser to Caretaker Government, as the Chairperson of the Foundation.

Dr Md Nurul Amin, Secretary Ministry of Industries, was present at the meeting as special guest, who is also the general body member of SME Foundation.

Dr Mohammad Ayub Miah, Managing Director of SME Foundation presented the annual progress report of SME Foundation.

He noted that the government had agreed to offer special incentives to SMEs in the upcoming National Budget 2008-2009. About 30 members of the General Body of the Foundation, representing different trade bodies, government organisations, and educational institutions were present at the meeting.

The AGM elected three new members for the Board of Directors of SME Foundation for the next year. They are Khaled Shams, former Deputy Managing Director of Grameen Bank, Prof Momtaj Uddin Ahmed of Economics Department of Dhaka University and Ms Parveen Mahmud, Deputy Managing Director of PKSF.

It is noted that SME Foundation is created by government and run by private management as non-profit company working as a facilitator for the expansion of SMEs in Bangladesh.

Warid welcomes govt decision on mobile network in CHT

BUSINESS REPORT

Warid Telecom, one of the leading private mobile phone operators of the country, has welcomed the government decision to allow mobile network in three hill districts-Rangamati, Bandarban and Khagrachhari.

CEO of Warid Telecom Muneer Farooqui said, "We welcome the government decision allowing mobile network in three hill districts. Warid Telecom's Network and Technology caters for rapid deployment capability in the form of Mobile BTS Solutions. End to End IP/NGN technology enables fast and efficient network deployment and integration. Warid Telecom will take advantage of this technology to serve the communication needs of the people of the area."

Chief Adviser Dr Fakhruddin Ahmed on March 27 (Thursday) at a meeting in Rangamati announced a government decision to allow cellphone network in three Chittagong Hill Tracts (CHT) districts. The government, however, will initially allow mobile service in municipal areas of the three districts.

Warid Telecom expanded its network to 61 districts within six months of its launch in Bangladesh emerging as the fastest growing mobile operator in the country.

Seminar on 'Poultry Hatchery Vaccination' held

BUSINESS REPORT

ACI Animal Health arranged a seminar on "Poultry Hatchery Vaccination" on March 18 at Dhaka Sheraton Hotel.

Dr FH Ansarey, Executive Director, Agribusiness, ACI Limited made the welcome address giving emphasis on using modern technology in poultry industry.

Dr. Kh Hela Uddin, Business Director, Livestock & Fisheries, ACI Limited addressed on the occasion and highlighted the usefulness of this technology. He says although it is a new technology in Bangladesh it is being used in different countries of Asia over the last couple of years.

He also mentioned, in spite of difference of MDA level of bird, poor water quality, administration difficulties, maintaining the temperature, etc., Hatchery Vaccination is safe and modern technology for the farmers, especially for broiler.

Sunil Chandra Ghosh, Director General, Department of Livestock Services graced the seminar with his valuable speech giving direction for the improvement of Poultry Industry.

Stephane BORDIER, Area Manager, Ceva Asia Pacific made a presentation on introduction of Ceva Sante Animale, France from where products., machineries and technologies of hatchery vaccination will come.

Dr. Marcelo PANIAGO, Regional Market Manager. CEVA Animal Health Asia Pacific made the main technical presentation of Hatchery Vaccination with full attraction and enthusiasm.

Dr. Kh. Helal Uddin gave the vote of thanks.

AUST's permanent campus to be opened on Monday

STAFF REPORTER

The permanent campus of Ahsanullah University of Science and Technology (AUST), ranked first among the private universities and third among all universities by Cybermetrics Lab of Spain, will be inaugurated on Monday by President and Chancellor of AUST Professor Dr Iajuddin Ahmed.

This was disclosed by Prof Dr M Anwar Hossain, Vice-Chancellor, AUST at a press conference on the new campus at Tejgaon Industrial Area in the city. Kazi Rafiqul Alam, President of Dhaka Ahsania Mission, also spoke on the occasion, among others.

AUST was established in 1995 under the sponsorship Dhaka Ahsania Mission (DAM), which was founded in 1958 by Hazrat Khan Bahadur Ahsanullah (RA), a great educationist and social reformer of undivided India.

The university since its inception has attracted students with high academic records in the departments of Business, Architecture, Civil Engineering, Computer Science and Engineering, Electrical and Electronic Engineering and Textile Technology.

The new campus built on five bighas of land, has a ten-storied building including two-level basement with a total floor area of more than four lakh square feet. "The large campus with modern facilities and research laboratories would now facilitate to offer post-graduate programmes in the fields of Engineering, Architecture and Science leading to the award of Post-graduate Diploma, Masters and M Phil degrees," Prof. Anwar Hossain said, adding, "it is being contemplated to open few new departments, specially Department of Mechanical and Production Engineering to help develop the industrial sector of the country's economy."

"AUST is very keen to interact closely with the industries for producing graduates useful to the society and has already taken some steps in this regard particularly with telecommunication, garments and textile industries," he said.

AUST, set on the model of Bangladesh University of Engineering and Technology (BUET), plans a second campus soon.

France to invest $0.226m in Dhaka EPZ

BUSINESS REPORT

M/s Hyder Web Solutions Ltd, a French company, will set up a web based advertising industry in the Dhaka Export Processing Zone (DEPZ).

This hundred per cent foreign-owned company will invest US$ 0.226 million and involve itself in web development solutions, site creation and management. The company will create employment opportunity for 30 Bangladeshis and two foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and M/s Hyder Web Solutions Ltd in BEPZA Complex in the city recently. General Manager (Investment Promotion) of BEPZA and Managing Director of M/s Hyder Web Solutions Ltd signed the lease agreement on behalf of their respective organisations.

The Executive Chairman of BEPZA and other officials were present on the occasion.

Recovery of BRAC Bank locker goods: Abed meets Home Adviser

BUSINESS REPORT

BRAC Bank Chairman Fazle Hasan Abed called on Home Affairs Adviser Maj Gen (Retd) M A Matin at his secretariat office on Thursday and requested him to hasten the process of recovery of stolen goods of the locker holders of Dhanmondi branch of the bank.

He thanked the Home Adviser for proper police action that led to the recovery of a large portion of the stolen goods.

The BRAC Bank Chairman also emphasised that the recovery and investigation process should be completed as early as possible so that the stolen goods of the locker holders could be returned as soon as possible.

The Home Affairs Adviser assured him of taking steps to expedite the process of investigation.

Nine new JOCVs arrive

Nine new Japanese Overseas Cooperation Volunteers (JOCVs) arrived in Bangladesh on March 25 in order to extend cooperation in different sectors such as Rural Community Development, PC instructor, Computer Technology, Tourism, and Environmental Education. They will work in public organizations of Bangladesh for the next two years.

Since March 1973, Japan International Cooperation Agency (JICA) has dispatched a total of 936 JOCVs to Bangladesh in various fields as agriculture, forestry and fisheries, processing, maintenance and management, civil engineering and construction, health and hygiene, education, computing, culture and sports.

At present there are as many as 47 volunteers engaged in various activities throughout Bangladesh, all speaking the Bengali language.

The new JOCV members called on Ambassador of Japan Mr. Masayuki Inoue on March 27 at the Chancery. Ambassador Inoue said: "I wish you to fully demonstrate your talents and skills for the benefit of the people of Bangladesh".

Scientific seminar on cardiac catheterisation

BUSINESS REPORT

Apollo Hospitals Dhaka and Dhaka National Medical College & Hospital (DNMC&H) organised a scientific seminar on 'Cardiac Catheterisation' at the seminar hall of DNMC&H in the city recently.

Cardiac catheterisation is a medical procedure used to diagnose and treat certain heart diseases.

Head of Cardiology, DNMC&H, Dr MA Bashar chaired the seminar. Associate Professor, Department of Cardiology, DNMC&H, Dr Dipankar Chandra Nag gave an introduction to cardiac catheterisation.

Consultant, Interventional Cardiology of Apollo Hospitals Dhaka, Dr Syed Sakib Nazir gave the main speech on 'Recent Updates on Cardiac Catheterisation and Intervention'.

Month-long trade fair kicks off at Kishoreganj

OUR CORRESPONDENT From Kishoreganj

A month-long trade fair began at the New Stadium in the district town here on Tuesday.

Deputy Commissioner Sultan Ahmed inaugurated the fair jointly organised by the Kishoreganj Chamber of Commerce and Industry and the National Small and Cottage Industries Samity Bangladesh.

Various types of commodities, including readymade garments, cosmetics and food items have been put on display at different shops.

Siemens speeding ahead with its high-speed train project

BUSINESS REPORT

The first five of a total order for 60 Velaro, the high speed train by Siemens, will be rolling in China in August in time for the Olympic Games. And by the end of the year, the first Russian Velaro will make tracks for Russia from the Siemens plant in Krefeld, Germany, said a press release. "Just like in Spain recently, this high-tech train set from the Mobility Division of Siemens Industry will underscore the image and attractiveness of rail-based transportation in these countries," stressed Edzard Lübben, responsible for the high speed trains at Siemens Mobility, at the UIC Highspeed Congress in Amsterdam.

With the inauguration of the Madrid - Barcelona line at the end of February, Spain is well on its way to having Europe's most comprehensive high speed rail system by 2010. The Siemens Velaro E, which goes by the name AVE S 103 in Spain, takes only two and a half hours to cover the 621 kilometers between Madrid and Barcelona - with a train leaving every hour.

Developed in Germany based on DB's ICE 3, and built in Germany and Spain, these 26 train sets herald in a new era of transportation between Spain's two largest cities. Conventional trains need more than six hours to do the journey, and a flight takes about 70 minutes not counting journey time to and from the airports, check-in and security checks. 144 units of the Siemens Trainguard train control system are deployed on the route between Madrid and Barcelona. Together with ETCS systems and components from other suppliers, they ensure the safety of the Velaro E passengers. And don't forget: it was a Velaro E that set the new world record speed of 404 km/h for series trains in September 2006.

It looks like Siemens will soon be speeding ahead to another record with the upgrade and expansion of the Chinese high speed rail system.