The New Nation - Internet Edition

Aid agencies warn of housing crisis as cyclone victims enter monsoon

BUSINESS REPORT

Five months after Cyclone Sidr killed 4,000 people and destroyed nearly 1.5 million homes, millions of Bangladeshis remain in dire need of housing assistance.

With only weeks to go before the start of the annual monsoon rains, hundreds of thousands of families are still living under plastic sheeting, tarpaulins and other basic shelters which leave them at the mercy of the elements.

Aid agencies taking part in the country's shelter coordination group have warned that the scale of the destruction is simply too massive for them to provide meaningful assistance to all of those in need. The cyclone and the subsequent storm surge have damaged or destroyed nearly four times as many homes as were affected by the 2005 Pakistan earthquake.

"The combined efforts of all aid agencies as well as bilateral government pledges for core housing are likely to reach around 60,000 affected families. But this is only a fraction of those who need help," said Graham Saunders, head of shelter for the International Federation of Red Cross and Red Crescent Societies, speaking on behalf of the global Emergency Shelter Cluster and the operational shelter agencies in Bangladesh.

"More than 260,000 extremely vulnerable families are currently not getting any assistance to rebuild their homes. Assessments indicate that these families have very limited means of coping on their own, and there are simply not sufficient programmes in the pipeline to help them," he said.

Aid agencies are urging the Bangladeshi government and the international community to implement a comprehensive plan for ensuring affected families have safe and adequate shelter.

With time running out before the start of the rains, the agencies are also recommending the launch of a major awareness raising campaign on safer building techniques.

"While the neediest families are entirely dependent on assistance, others are coping a bit better. Of the 1.5 million affected families, we estimate that more than a million are starting to rebuild their homes - but not all of them are building back safer," said Heather Blackwell of Oxfam, one of the operational agencies involved in the shelter coordination group.

"Some of the current building techniques are outright dangerous and could cause injuries once the winds and rains arrive. We need to make sure that people are aware of simple and practical techniques that make their homes more resistant to storms, floods and cyclones."

"The monsoon season is approaching and a broad range of activities needs to be undertaken now by the Government and the international community" added Nick Southern, country director for Care.

"And we're not just talking about shelter- without a roof over their heads people are also exposed to serious health and hygiene risks. The situation is deeply worrying."

25% Stock Dividend for IBBL shareholders

BUSINESS REPORT

The Board of Directors of Islami Bank Bangladesh Limited recommended 25% Stock Dividend for the shareholders for the year 2007 i.e. one bonus share against 4 existing shares subject to the approval of the Annual General Meeting of the Bank.

The rate of profit of IBBL Bond for the year 2007 has been announced to 12.64% which is a summation of 10.14% final rate of arumal profit of 8 years term Mudaraba Savings Bond and 10% of the rate of declared dividend. The profit of the bond will be distributed within 60 days from holding of AII Dual General Meeting of the Bank.

As the trade of Perpetual Bond of the Bank in Dhaka Stock Exchange and Chittagong Stock Exchange Limited was started simultaneously from the 25th November, 2007. Bondholders are entitled to receive profit 37 days for the year 2007 and from the year 2008 profit will be paid for the whole year.

These were decided in a meeting of the Board of Directors of the Bank held on Thursday 17 April at the Board Room of the Bank at Islami Bank Tower. Presided over by Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of the Bank, the meeting was attended by local and foreign Directors including Dr. Abdulhameed Fouad AI-Khateeb, KSA and Ahmed Mohammed Thani, representative of Kuwait Awqaf Public Foundation.

The meeting approved the Profit and Loss Account for the year 2007 and Balance Sheet as at 31st December 2007. The 25th Arumal General Meeting of the Bank will be held on 29.8.2008. The record Date in connection for entitlement of Dividend was fixed on the 29.7.2008.

Warid to make further investment in near future

BUSINESS REPORT

Warid Telecom's Chief Executive Officer (CEO) Muneer Farooqui Tuesday said the company will make further investment in near future.

"Warid Telecom has already invested about US$500 million in Bangladesh and we are going to invest more," Muneer Farooqui said in a programme on the occasion of the visit of chairman of the Bangladesh Telecommunication Regulatory Commission (BTRC) Manzurul Alam in the telecom operator's office in the city.

The BTRC chairman expressed his deep satisfaction over the activities of Warid Telecom.

While visiting different facilities of Warid Telecom, the top-brass of the country's telecom watchdog pointed out that they did not find any illegal activities by the mobile company, said a press release.

The BTRC chairman went to the fastest growing mobile telephone company's office as part of his ongoing visit to different telecom companies.

During the visit, he held meeting with top officials of Warid Telecom and inquired about the technical as well as operational aspects of the company.

In his brief comments, the BTRC Chairman said they will welcome any move to introduce new technologies in the telecom sector.

He urged all concerned to abide by the rules and regulations of the land and also stressed on continuing registration of mobile users. He also appreciated the CSR (corporate social responsibility) activities of the company.

Welcoming the BTRC Chairman, Warid Telecom's CEO said Warid is committed to bringing qualitative change in the country's telecom sector. He vowed that the company will not compromise in providing better services to its customers and maintaining network quality.

Following the meeting, the BTRC Chairman and Warid Telecom CEO exchanged mementos. Among others, BTRC Commissioner SM Monir Ahmed, Chief Information Officer of Warid Telecom Yasir ZI Ansari, Chief Technical Officer Farhan J Khan and Deputy General Manager Mian Omer Shah attended the meeting.

Bangladeshi co to invest $4.714 million in KEPZ

M/s Liberty Poly Zone (BD) Limited, a one hundred per cent Bangladeshi company, will set up a garments accessories manufacturing factory in the Karnaphuli Export Processing Zone (KEPZ).

The company will invest about Tk 320 million and will produce garments items. The company will also create employment opportunity for about 114 Bangladeshi nationals. In this connection, an agreement was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and M/s Liberty Poly Zone (BD) Limited in the city Tuesday, said a press release of BEPZA. The Member (Investment Promotion) of the BEPZA and the chairman and managing director of Liberty Poly Zone signed the agreement on behalf of their respective organisations.

Officials of both the organisation were present at the deal signing ceremony.

Laid-off jute mill workers' arrear payment from tomorrow

BUSINESS REPORT

The disbursement of Tk 867.5 million (86.75 crore) for pay arrears of the laid-off jute-mill workers under Bangladesh Jute Mills Corporation (BJMC) will start tomorrow (Saturday), after a long wait.

On the day, Adviser in charge of Textiles and Jute Ministry Md Anwarul Iqbal will inaugurate the cheque-distribution programme for the workers of Khulna region against their salaries, gratuities and provident funds, said an official announcement Wednesday.

Managing Director of Premier Bank awarded

Khondker Fazle Rashid, Managing Director of The Premier Bank Limited has been awarded 'Atish Dipankar Gold Medal Award-2008' to mark its 25th Anniversary as a best banker for his outstanding performance in the Banking sector.

Atish Dipankar Gobeshana Parishad organized the rewarding Ceremony in honor of the distinguished personalities of the country for their outstanding achievements in their respective field in "Bangladesh Chaina Conference Centre" on 17th April, 2008.

Professor Mozaffar Ahmed the Chairman of TIB graced the occasion as Chief Guest. Justice Habibur Rahman and Deputy Governor BB, Murshid Kuli Khan were present in the occasion as Special Guests. Many other dignitaries from different discipline attended the ceremony. Commemorating the priceless contribution of Atish Dipankar, a seminar was held to discuss the life and works of the scholar.

It is mentionable that Khondker Fazle Rashid has joined Premier Bank on 30th October, 2007and he is also the Vice Chairman of Association of Bankers Bangladesh (ABB) Limited. In personal life he is blessed with a wife and a daughter.

Mizanur ICSA Chairman, Mustaque GS

BUSINESS REPORT

The International Container Shipping Association (ICSA), an organisation representing the container shipping trade in Bangladesh, in a meeting recently held election to its executive committee for the term of 2008-2010, according to a press release.

The newly-elected office-bearers of the ICSA executive committee are Mizanur Rahman (SW Shipping/Hapag)- Chairman, Mardjuki Raman (OOCL)-Vice Chairman 1, Faruber Anwar ( Everbest Shipping/Gold Star Line )- Vice Chairman 2, Rashed A Ali (NYK) - Treasurer, M Mustaque Amin (APL)- General Secretary, and Phillip Nelson Michael Marsham (Maersk) and KMA Bari (Eastern Overseas/MISC)-Members.

The member firms of the ICSA account for the lion's share of Bangladesh's export and import and contribute substantially to the port revenue.

Potato feast at Radisson Water Garden Hotel

Radisson Water Garden Hotel Dhaka is committed to offer new and exciting experiences to the society. As a part of this commitment, the hotel is now offering food promotion called "Potato Feast".

The Potato Feast will continue upto 22 April. Guests may enjoy potato feast at Water Garden Brasserie restaurant at Level 1 of the hotel dinner. Diners at the week-long food promotion will also get a chance to win a "weekend package" that includes one night stay for a couple with dinner and breakfast! The initiative was taken to popularise use of potato and to showcase various local and international recipes that can be prepared from potato. The United Nations also declared 2008 as the International Year of the Potato to raise awareness of the importance of the potato in addressing issues of global concern, including hunger, poverty and threats to the environment. The reason behind this promotion is to display different flavours of potato. Even though potato is quite familiar to us in Bangladesh, potatoes are not as widely used as it could be. Throughout this week, the chefs of Radisson Water Garden Hotel Dhaka are going to prepare some delicious potato-based cuisines from all over the world, a feast as colourful as spring. Up to 140 potato-based dishes are being offered at promotion. Potato items range from delicious salads, tantalising main course to mouthwatering desserts. There is also a live cooking station so that the guests can watch the chef prepare the culinary delights. All the recipes that are showcased at the Potato Feast are very easy to prepare and the ingredients are available everywhere.

Not only are potatoes great in taste, they are one of the most nutritious foods one can eat. One might be surprised to know that a medium-sized potato has fewer calories than a grapefruit. They are rich in carbohydrates, with highest protein content in the family of root and tuber crops and also very rich in vitamin C - a single medium-sized potato contains about half the recommended daily intake - and contain a fifth of the recommend daily value of potassium.

Potatoes are grown worldwide. The first potato has its roots in the windswept Andes Mountains of South America. Taken by the Spanish to Europe in the 16th century, it quickly spread across the globe: today potatoes are grown on an estimated 195 000 sq km, or 75000 square miles, of farmland, from China's Yunnan plateau and the sub-tropical lowlands of India, to Java's equatorial highlands and the steppes of Ukraine. In terms of sheer quantity harvested, the humble potato tuber is the world's No.4 food crop, with production in 2007 of more than 320 million tonnes (about 353 million US tons). More than half of that total was harvested in developing countries.

Naser Bukhtear joins Agrani Bank

Syed Abu Naser Bukhtear Ahmed joined in Agrani Bank Limited on Tuesday as Chief Executive Officer and Managing Director.

It may be recalled that Naser Bukhtear had also been the Managing Director and CEO of the Bank for a 3 years term from October-2004 to September2007.

Syed Abu Naser Bukhtear Ahmed is a name among those renowned Bankers in Bangladesh who achieved honour and position through extraordinary brilliance in their respective field. His name has been registered as an innovative, dynamic and progressive Banker in the country capable of taking responsibility in all adverse conditions to convert it into a favourable one.

Born on 1st December 1946 Mr. Ahmed obtained his Masters Degree in Business Administration in the year 1969 from the Institute of Business Administration, University of Dhaka. The MBA programme was implemented in joint collaboration with Indiana State University, United States of America. His area of concentration was Accounts and Finance. Prior to his post graduate degree, he earned his B.Sc. degree in 1967 from the University of Dhaka studying at Notre Dame College.

Started his Banking career in Karachi in February 1970 as a Class I officer in the Inspection Wing of the Banking Control Department of State Bank of Pakistan. After the emergence of Bangladesh he worked with Bangladesh Bank in various sections of Banking Control Department and Board Secretariat Department till September- 1974. Then joined eqirstwhile United Arab Emirates Currency Board. Worked in various capacities in Foreign Exchange Department, Internal Audit Department and Bank Supervision Department in Abu Dhabi, Dubai and Sharjah, Spent long 21 years in the DAE before returning to Bangladesh. After that, in Bangladesh, served as an Executive Vice President of Arab Bangladesh Bank Ltd. from October-1995 to April- 1999, then joined Prime Bank Ltd. in April- 1999 as Deputy Managing Director and promoted to Additional Managing Director in April- 2001 to May- 2002 then moved to South East Bank Ltd. as Managing Director from- 2002 to September- 2004.

As recognition of his services and talent, he has been honoured with various awards like, "Financial Mirror Business Award- 2002" for extraordinary contribution and performance in Banking sector, "C.R. Das Gold Medal-2004" for extraordinary contribution and performance in Banking sector, "Dhara Gold Medal- 2005" for The Best Banker of the year, "FNS Business Award- 2005" for The Best Banker of year, "Dhara Gold Medal-2006" for extraordinary contribution in Banking, 'Nawab Sir Salimullah Gold Medal" for extra-ordinary contribution in Banking.

He is a proud father of a son and a daughter and fond of reading, playing chess, bridge and traveling who wants to see a better future generation in the country.