The New Nation - Internet Edition

PKSF seminar in city: Finance, training, technology and marketing information stressed

Business Report

Speakers at a seminar organised by the Palli Karma Sahayak Foundation (PKSF) on Monday laid high emphasis on training, technical know-how, marketing and diversified designs to reduce risks in the micro-enterprises in the country.

The seminar held on the 4th day of the five-day Microcredit Fair 2008 at Bangladesh-China Friendship Conference Centre in the city.

The seminar on Business Development Services for Expansion of Microenterprise was facilitated by Deputy General Manager of PKSF Hahan Khaled. Professor M.A Baqui Khalily of Institute of Microfinance presented slides on 'Structural Reform of Existing Organisations for Microfinance Enterprise' (ME), followed by Dewan Ali Haider Alamgir of Enterprise Resource System on 'Business Development Services:

Policy Implementation Structure', Md. Emranul Huq Chowdhury of Uddipan on 'Role of MFI to Expand ME Activities', Anisur Rahman Chowdhury on 'Technological Support for ME Development', Mashiur Rahman on 'Potentials & Challenges for Extension of Livestock based IGA's: Experiences of PLDP' and Atiqun Nabi of INAFI on 'Microinsurance for Growth in Microenterprise' .

The seminar focused on deficits of meat, milk and egg in the country. Presently, the deficit of meat production is 5.12 tonnes. Milk production is 2.2 tonnes against the demand of 8.2 tonnes.

Egg production is 14,662 pieces as against the demand of 5,369 pieces. It accounts for 63 per cent as the deficit is concerned.

The speakers said that the contribution of livestock is 2.92 per cent despite huge potentials in this agrarian country. It needs to tape that potential.

Urging the authorities concerned to reach the marketing related information to the micro entrepreneurs, Professor M.A Baqui said the small entrepreneurs should be informed of the market facilities where the profit margins are comparatively high or poor. He stressed the need for an effective connection between the village entrepreneurs and the town entrepreneurs. To that end, PKSF can pursue a wide network, he added.

Terming the micro credit as the 'eye of village development', he said, Not as product, it should be taken as the part of business process.'

Anisur Rahman said as the small entrepreneurs work in scattered way, they are not aware of the market information. He stressed the need for developing the packaging system in line with the demand of the time.

Mashiur Rahman shared his working experiences in the fields and said that investment in the livestock sector is lucrative. It is because a house wife can earn Taka 6000 per month from a hybrid milky cow which costs Taka 50,000. One Lakh Taka investment in a hatchery can provide a monthly profit of Taka 10,000-15,000. Taka 5,000 can be earned from an investment of Taka 25000-30000 in a poultry farm.

The 3rd Microcredit Fair 2008 was inaugurated on Friday last. The fair is focusing on pro-poor development.

Oil prices lower on strengthening US dollar

AFP, Singapore

World oil prices continued lower in Asian trade today after the US dollar earlier strengthened to its highest level since late March, dealers said. New York's main oil futures contract, light sweet crude for June delivery, slipped 52 cents to 112.00 dollars per barrel. The benchmark contract had dropped 94 cents to close at 112.52 dollars per barrel on Thursday at the New York Mercantile Exchange. Prices have eased since striking a record high of 119.93 dollars in New York last Monday. Brent North Sea crude for June delivery fell 53 cents to 109.97 dollars a barrel, after settling at 110.50 dollars on Thursday in London. The contract hit an all-time peak of 117.56 on April 25. The US currency fell to a record low of 1.6019 to the euro on April 22 but has since recovered, changing hands at 1.5477 dollars in Asian trade on Friday after shooting as high as 1.5437 on Thursday.

It was the greenback's strongest showing since March 25.

A stronger US unit makes dollar-priced crude more expensive for foreign buyers and tends to dampen demand.

Analysts said the dollar strengthened following a better- than-expected reading on US manufacturing activity and growing speculation that US interest rates will stabilise.

Crude prices fell sharply on Wednesday in response to a bigger-than- expected rise in crude oil reserves in the United States, the world's biggest energy consumer, analysts said.

The US government reported US crude inventories rose 3.8 million barrels in the week ending April 25, far stronger than market expectations for a gain of 1.5 million barrels.

Supply concerns lifted somewhat on Thursday after workers at ExxonMobil's Nigerian subsidiary ended an eight-day strike.

Eastern Bank Limited launches "EBL Mukti" for women entrepreneurs

BUSINESS REPORT

Eastern Bank Limited launched yet another new product for Women Entrepreneurs "EBL Mukti" first of its kind in Bangladesh, at a hotel in the city Wednesday April 30.

Any women entrepreneur with at least two years of operation of any legitimate business and cash flow to support repayment can avail "EBL Mukti" loan credit facility of up to Tk 3 lakh without having to mortgage anything.

Repayable in 18 months, the yearly interest rate of the new credit facility is only 10 per cent, the lowest in the country. The loan is repayable in monthly installment.

Eastern Bank Limited is the pioneer to introduce this kind of product in full compliance with the Bangladesh Bank circular on Women Entrepreneur Financing.

Mukleshur Rahman, DMD and Head of SME Banking, EBL, launching the product said, "Women of the country are marching alongside men in our efforts for economic emancipation of the country.

We at EBL want to ensure their continued contribution offering this unique loan facility. Finance is needed to be successful in business, and it has to be on easy terms. "EBL Mukti" promises all these."

Among others, Deepak Adhikary, Deputy General Manger & Head of SEDF-Bangladesh, Nepal, Bhutan,; Md. Zahid Hossain, Head of Business Development, EBL; Sanjib Kumar Dey, Head of Product Development & Portfolio Management, EBL and Kaniz Almas Khan, Managing Director, Persona Hair & Beauty Limited were present on the occasion.

Islamia Eye Hospital receives Bankers' Forum Award 2006

BUSINESS REPORT

The Islamia Eye Hospital and MA Ispahani Institute of Ophthalmology received the Bankers' Forum of Bangladesh 'Corporate Social Responsibility Award 2006' as the best healthcare organisation in recognition of its excellent eye care services.

The award was given at a ceremony on April 26 at the CIRDAP Auditorium in the city. Forum's chairman, MA Khaleque, presided over the function while Bangladesh Bank Governor, Dr Salehuddin Ahmed, attended as the chief guest.

Bangladesh Bank Governor urged the banks and other corporate houses to practice CSR to assist the poor and the destitute.

The hospital, one of the largest referral hospitals in the country, treats various eye diseases and different types of surgery. Around 2 lakhs patients, many of whom are from the lower income group, receive treatment and around 20,000 different surgeries are performed annually.

Besides, DO and FCPS students, a good number of doctors and paramedics receive training at the hospital annually. These trained doctors and nurses have been playing an important role in eradicating blindness from the country.

City Bank holds workshop on Retail Finance

BUSINESS REPORT

City Bank is going to launch retail loans shortly by introducing two loan products namely City Solution - Any purpose personal loan upto Tk. 10 lac for individual borrowers; and City Drive - Auto loan upto Tk. 20 lac for both new and reconditioned cars.

As part of this launching, the bank arranged a day-long retail finance workshop for its branch managers and relationship managers.

The workshop emphasised on business strategies of retail lending and its risk management processes.

The workshop was inaugurated by bank's Deputy Managing Director (Business) Sohail R. K. Hussain: Head of Retail Banking Mashrur Arefin, Head of Policy and Analysis Khirkil Nowaz and Head of Retail Finance Project Gazi Yar Mohammed also spoke in the workshop.

Sida and Cordaid terminate partnership with BWHC

The Embassy of Sweden/Sida and Cordaid undertook an investigation into the financial administration of BWHC. The investigation concluded that misappropriation of funds has taken place in the organisation. Because of this, both Sida and Cordaid have ended their relationship with BWHC with immediate effect.

"We highly regret the serious consequences of BWHC's financial mismanagement, foremost for the beneficiaries and their staff members.

We have always valued the work conducted by BWHC in improving the health situation of women, which is an important area of work. However, both Sida and Cordaid will continue working in the field of women's health in Bangladesh through other partners," a Sida press release said.

"We strongly emphasise the importance of accountability and financial transparency, especially in development work and therefore we decided to go public with our findings," it also said.

Saudi contribution to IUT

BUSINESS REPORT

Sami Jamil A Al Hindi, Charge d'Affaires of the Kingdom of Saudi Arabia in Bangladesh, handed over a cheque for US$ 326,775 to Prof Dr M. Imtiaz Hossain, Vice-Chancellor, Islamic University of Technology (IUT) while he called on him at his office on April 27 as full settlement of Saudi Arabia's contribution to the budget of IUT, a subsidiary organ of the Organisation of the Islamic Conference (OIC) for the financial year 2008.

The Vice-Chancellor thanked the Charge d'Affaires and the Government of the Kingdom of Saudi Arabia for this as well as for previous contributions and generous voluntary donations.

The Vice-Chancellor described the various academic and other activities and programmes of the university which are in progress and have the participation of students from different member states of the OIC.

The Charge d' Affaires appreciated the commendable role being played by IUT in the development of human resources and assured the Vice-Chancellor of continued help and assistance from the Kingdom of Saudi Arabia to this prestigious university of the Organisation of the Islamic Conference for its overall development.

BRAC Bank signs MOU with Prime Automobiles Ltd. to finance NAZA cars

BUSINESS REPORT

BRAC Bank signed a Memorandum of Understanding (MOU) with Prime Automobiles Limited a sister concern of IMAM Group, the sole distributor of Malaysian NAZA car. The MOU signing ceremony was held in Dhaka. Under the MOU, BRAC Bank will provide loan facility to its customer for purchasing the NAZA brand car.

Zabed Amin, BRAC of Retail Banking of BRAC Bank Ltd. and Mr. Nahim Razzaq, Managing Director of Prime Automobiles Ltd. signed the MOU on behalf of their respective organisation. Mt. Abdur Rahman, Head of Non-Funded Business (NFB) & Secured Value Centre of BRAC Bank, W. Abedur Rahman Sikder, Head of Marketing and Corporate Affairs of BRAC Bank, Mirza Alim Ahamed and W. Hanif Hakim Nasim, General Manager of Personal Sales and Corporate Sales of Prime Automobiles Ltd. were present in the signing ceremony. Other senior officials of both the organisations were also present there.

This is one of the steps that BRAC Bank has taken to facilitate the need of middle class segment and to make their dreams come true to become a proud owner of a brand new car.

Standard Bank holds 125th board meeting

BUSINESS REPORT

The 125th Board Meeting of Standard Bank Ltd. was held on 24th April, 2008 in the Board Room of Head Office of the Bank. Kazi Akramuddin Ahmed, chairman of the Board of Directors presided over the meeting. It was attended by vice-chairman Alhaj Mohammad Shamsul Alam, directors Kamal Mostafa Chowdhury, Abdul Ahad, Alhaj Nurul Haque Sowdagor, Ferdous Ali Khan and Md Ziaul Haque Khondker. Among others, Managing Director Mosharraf Hossain, DMD SA Farooqui and EVP and Board Secretary AFM Nizamul Islam Chowdhury were present in the meeting.

The board took various important decisions regarding the bank's investment policy in the field of trade, commerce and industries and approved proposals received from different branches in respect of financing of working capital for industries and other import, export & commercial trading businesses.

Fuji Sign Crafts eyes Bangladesh

BUSINESS REPORT

A leading sign craft businessman in Singapore has expressed his keen interest to expand his business in Bangladesh by utilising his experiences gathered from Maldives, Sri Lanka, Arab Emirates and Brunei, informed sources said.

Lee Yew Weng, owner of the Fuji Sign Crafts that holds 40 per cent sign craft work in Singapore, is interested to cover Bangladesh in his business network and wants to elevate the neon-sign ad-business industry in Bangladesh.

Further, he aims to introduce digital display technology now in a much advanced stage in South Asian cities in the ads and neon sign holdings displays in the backdrop of ever rising high-rise buildings in the skylines of major cities of Bangladesh, including its capital city of Dhaka, said Kishore Ghosh, a Bangladeshi graphic designer who works with the company.

Lee Yew Weng wants to make Bangladesh high-rise buildings more beautiful and attractive with digital sign crafts on their top

More than one hundred employees work with his company. Of them, there are 5 to 6 Bangladeshis.

Seminar on selecting best CNG compressor

A seminar on 'How to select the best CNG compressor?' was held at a hotel in the city on April 28 last. The seminar was organised by Moulana Filling and CNG Works, a sister concern of Moulana Group.

Andrew Paul Grimmer, President, ANGI International USA was present at the seminar as the chief guest, while AHM Shoyeb, Chariman of Moulana Group, presided over it.

The chief guest said Arial brand is the world's No.1 CNG compressor running 800 nos in various counting very smoothly. Main features are: low operating cost ensure after sales service by efficient engineers, heavy duty, long time continue service.

Krishi Bank General Managers' review meeting held

BUSINESS REPORT

The third Review Meeting of the General Managers of Bangladesh Krishi Bank for the financial year 2007-08 was held in the Board Room of the Bank on 30 April. Md. Mukter Hussain, the Managing Director of the Bank chaired the meeting, while Khondkar Ibrahim Khaled, the Chairman of the Board of Directors was present as the chief guest. The Deputy Managing Directors, all the General Managers of Head Office and field offices, concerned Chief Regional Managers, all the Managers of citybranches and other concerned executives were present at the meeting. Khondkar Ibrahim Khaled, the Chairman of the Board of Directors, is seen delivering speech at the meeting.