The New Nation - Internet Edition

Internal videoconferencing by corporate entities on noncommercial basis allowed

UNB, Dhaka

The government has decided to allow all the corporate entities to hold videoconferencing on noncommercial basis for internal use with some terms and conditions. The Bangladesh Telecommunication Regulatory Commission (BTRC) Monday issued a directive in this regard, said a BTRC release. It said a regulatory guideline would be formulated to address videoconferencing on commercial basis and the usage of IP-PABX.

Premier Bank's IPO: 2,436 BO accounts frozen by SEC

BUSINESS REPORT

The Securities and Exchange Commission (SEC) has temporarily frozen 2,436 beneficiary owners' (BO) accounts which were opened with different branches of Al-Arafah Islami Bank using the same address when the Premier Bank floated its initial public offering (IPO).

The subscription of Premier Bank IPO took place in March of 2007 after it was earlier cancelled for BO account forgery in February 2005 that subsequently led to the removal of the then Premier Bank Managing Director M. Abdul Mazid by the central bank.

The SEC, in cooperation with the Bangladesh Bank analysed various documents and data of those BO accounts and primarily identified that the accounts were not opened in line with the securities rules during Premier Bank IPO, making the commission suspicious.

"The BO accounts will remain frozen until further notice but credit can function and the account holders already in possession of shares will land in trouble if irregularities are proved against them," Farhad Ahmed, executive director of the SEC told reporters on Sunday.

He said, during the Premier Bank IPO, the BO accounts were opened using the address '137, Tejgaon Industrial Area, Dhaka' under different branches of Al Arafah Islami Bank.

"The enforcement department of the SEC will summon those account holders to hear further," Farhad said adding that these steps will act as deterrent for those who will intend to do so in future.

He said, if their involvement is found unlawful, they might face two types of punishment- civil or criminal cases.

Under the civil case, the maximum financial penalty is Tk 10 lakh and under the criminal case, the maximum financial penalty is Tk 10 lakh or five-year imprisonment or both, he added.

Currently, there are around 1.5 crore BO accounts in the country's stock markets.

Bank Asia approves 25pc stock dividend

BUSINESS REPORT

Bank Asia Limited has approved 25 per cent stock dividend for its shareholders for the year 2007.

This was approved at the ninth annual general meeting (AGM) of the bank at the Bashundhara City grand hall in the city on Sunday.

Chaired by Bank Asia Chairman M Syeduzzaman, the meeting was attended, among others, by Vice-Chairmen A Rouf Chowdhury and Arifur Rahman Sinha, Directors Farhana Huq Chowdhury, Shameem Chowdhury and Shafique Uddin, and President and Managing Director Syed Anisul Huq.

A large number of shareholders took part in the meeting.

The paid-up capital of the bank would increase to Tk 1.74 billion and total equity to Tk 2.58 billion.

In the meeting, an in-depth discussion took place on different aspects of the operational performance of the bank.

The speakers made valuable suggestions for expanding and improving the activities of the bank.

The members of the board and the management received appreciation from the shareholders for maintaining sustainable, strong and steady growth of the bank in every area of operations.

Anisur Rahman Sinha, Mohammad Irfan Syed and Romo Rouf Chowdhury were elected directors of the bank in the meeting.

Swedish software co to hire Bangladeshi consultants

BUSINESS REPORT

International Finance Solution (IFS), a Sweden-based global enterprise application company, will hire consultants from Bangladeshi company Integrated Computerised Environment (ICE) Technologies and Services Ltd.

IFS Manager Consulting Service (Research and Development) MBM Poorna Bandara said this at Meet the Press held in a city hotel yesterday.

He said IFS recently announced that they would hire consultants from ICE Technologies for IFS World Service Team.

IFS this year has selected ICE Technologies which will be sending engineers, consultants, business analysts for IFS implementation and rollout across the globe.

IFS as the leading Enterprise Resources Planning (ERP) vendor is providing solution for distribution, manufacturing, retail, wholesale, defence, aerospace, shipbuilding and many other industrial verticals. Hence, IFS requires a huge resource pool that will be implementing this solution in different companies.

"As an exclusive distributor of IFS, ICE Technologies will send 10 Bangladeshi engineers in IFS world service team who would be trained in IFS Research and Development Centre in Sri Lanka and take part in global IFS implementation," said Rubaiyat Jamil, Chief Executive Official (CEO), ICE Technologies Ltd.

Rubaiyat also said it was an ongoing process and more engineers would join the IFS next year.

He further said, "ICE Technologies has already trained IFS consultants who are implementing IFS applications in Bombay Sweets Company Ltd and Singer Bangladesh Ltd. ICE is in the process of nurturing resource pool who will be joining the IFS world service team for international projects handling."

IFS Manager (Sales and Marketing of South Asia) Shiraz Lye said, "ICE Technologies has already proven their competency by implementing different IT projects in Bangladesh through its talented implementers. Now it is the time of ICE Technologies to contribute the global IFS team."

This bi-directional effort was aimed at grooming ICE engineers by providing extensive training in IFS Research and Development Centre so that they could contribute for enriching the IFS world service team, he added.

Saiful Islam, Manager (Marketing) of ICE Technologies Ltd, among others, was present in the function.

Midas to organise training on Start Your Own Business

BUSINESS REPORT

A five-day training course organised by the MIDAS (Micro Industries Development Assistance And Services) on "Start your own business" will begin at its head office in the city on June 8.

The course will be held between 2:00pm and 6:00pm everyday, said a press release.

The course has been designed on a German model called Competency-based Economics through Formation of Enterprise (CEFE)-successfully implemented in more than 50 countries in Asia, Africa, South America and Europe.

Interested persons have been requested to contact at MIDAS, Nahar Green Summit, House No. 43 (2nd floor), Road No. 16 (New), 27 (old), Dhanmondi, Dhaka, Telephone: 01716643394, 01711842976, 9117154, 8116094-5, 8116186-7, email: midas@midas-bd.com for application form.

IBBL opens Mawna Chowrasta branch

BUSINESS REPORT

Mawna Chowrasta Branch of Islami Bank Bangladesh Limited was inaugurated as its 194th Branch on Sunday at Shahidullah Complex, Sreepur Road, Mawna Chowrasta, Sreepur, Gazipur.

Syed Mizanur Rahman, Deputy Commissioner of Gazipur inaugurated the branch as the chief guest, while SM Abdul Kader, Upazila Nirbahi Officer of Sreepur and Mahmud Hasan, Deputy Land Reform Commissioner of Barisal were present as special guests.

Presided over by Principal Moulana Zainul Abedin, Vice Chairman, Board of Directors of the bank, the function was addressed, among others, by Mohd Shamsul Haque, Deputy Managing Director, AKM Abdul Malek Chowdhury, Executive Vice President and Head of Dhaka North Zone and among the local elites Md Anisur Rahman, Chairman of Sreepur Pourashava, businessman Alhajj Md Shafiullah Morol, Md Abdul Hannan, President of Mymensingh Palli Bidyut Samity, Md. Shahidullah Shahid, President of Mawna Chowrasta Hat-Bazar Committee and Md. Abdul Jalil, Chairman of Teli Hati Union Parishad, Sreepur, Gazipur. In his speech, Syed Mizanur Rahman thanked Islami Bank authorities for starting interest free banking system and opening branch in Mawna Chowrasta in Gazipur.

He urged the bank authorities to invest in production of bio-gas with litters of poultry farms in Mawna.

Berger Paints launches wood coating solutions

Berger Paints have recently introduced complete wood coating solution under the brand name Innova in collaboration with Becker Acroma Italia SpA, leading wood coating solution provider in Europe.

A launching programme was held in Hotel Sheraton on May 27. With this strategic alliance, the furniture industry will get the opportunity to enjoy the European wood coating finish in Bangladesh.

This brand will offer the complete range of PU based lacquer coatings for wood and MDF board. Berger Innova products have all the characteristics of a high performance finish which includes superb film transparency, matt to high gloss finish, excellent protection against household chemicals (water, tea, coffee, etc.), high resistance to scratches and abrasion from daily use. They are suitable for use on a range of manufactured articles including: furnishings, chairs, kitchens, tables, doors, office furniture, etc.

Rupali Chowdhury, Managing Director, Berger Paints (BD) Limited inaugurated the program as the chief guest. Stefano Antoniazzi, Managing Director of Becker Acroma Italia SpA attended the program as special guest.

In her speech, Ms Chowdhury has mentioned that Berger always tries to provide the best quality and advanced technology in paint solutions assisted by excellent customer service. So it is continuously investing on new technology, and Research and Development (R&D) to provide comprehensive and sustainable painting solutions to the needs of this country for the last few decades. This has made Berger the absolute market leader in the Bangladesh paint industry. She also added that Berger is committed to deliver the persistent quality with seamless customer service and full technical support for introducing advanced product offerings and process improvisation for the brand Innova. GM-Sales & Marketing Mohsin Habib Chowdhury and MD of Becker Acroma Stefano Antoniazzi also delivered their own speech on this occasion. Stefano gave a brief view of Becker Acroma in his presentation. Becker Acroma Italia SpA is providing the highest caliber wood coating solutions for over a hundred years. Under the umbrella of the coating giant AB. Wilh Becker of Sweden, it operates in more than 50 countries around the globe.

The pioneer & eminent furniture manufacturers, architects, developers, and interior designers, high officials of Berger Paints along with media personnel were present in the occasion.

Mizanur Rahman new MD of BSB

Deputy Managing Director of Janata Bank Limited Md Mizanur Rahman has been promoted as Managing Director and joined Bangladesh Shilpa Bank on June 1.

He joined Sonali Bank in 1978 and discharged various important duties in different banks. He was the CEO of Sonali Bank, Kolkata Branch, India. Subsequently, he served more than three years in Sonali Bank local office, the largest branch of Bangladesh.

Rahman participated in various banking related training courses and seminars both at home and abroad. He obtained M.Sc (Ag) degree in Economics from Bangladesh Agricultural University in 1976. Rahman was born in Meghna thana of Comilla district.

Nurul Huda Chowdhury new MD of Ansar-VDP Unnayan Bank

Veteran banker Md. Nurual Huda Chowdhury, on promotion, joined as the Managing Director of Ansar-VDP Unnyan Bank on June 1.

Formerly he was the Deputy Managing Director of Bangladesh Krishi Bank.

He started his service life as a lecturer of Dattapara College, Laxmipur in 1977 and his banking career started as 'Probationary Officer, Class-I, of Bangladesh Krishi Bank in the same year. During his chequered banking career he worked as Branch Manager, Regional Manager, Deputy General Manager, General Manager of the bank. He also worked for two years as micro finance specialist under UNDP at Nairobi, Kenya from 2001 to 2003.

Md. Nurual Huda Chowdhury comes of a respectable Muslim family of Ramnarayanpur Union under Chatkhil Upazila of Noakhali district in 1954. Meritorius student Md Nurul Huda Chowdhury obtained his M.Sc. degree in Agricultural Economics from Bangladesh Agricultural University, Mymensingh in 1976. He obtained diploma and undertook various training on banking from home and abroad including different institutions of the USA, Cyprus and Turkey.

He is a writer and a regular contributor to different papers and journals at home and abroad. He presented at least 20 keynote papers in different national-level seminars. In personal life he is the father of one daughter and one son.

Holcim holds 'Field Force Management Training '08'

Holcim, the leading cement company of the country, has recently organised 'Field Force Management Training 2008', a daylong training program for its sales and marketing personnel at city's Spectra Convention Centre. The main objective of the training program was to reinvigorate the spirit of the Sales Team that they require for the market. About 70 sales personnel of the company attended the program and received training on various aspects of the company.

PN Iyer, Managing Director of the company reiterated in his presentation that our vision is to provide foundations for society's future while our mission is to be the most respected and attractive company in our industry- creating value for all our stakeholders. He thanked all participants for delivering good s ales performance achieved in 2007 and urged them to continue their efforts to be more customer centric in the days ahead.

"Besides being sales focused, all sales personnel are also required to foster the concept of Environmental Performance, Corporate Social Responsibility (CSR), Occupational Health and Safety and Sustainable Development (SO) of the company through which we can contribute towards the improvement of the society", Iyer added.

Mr Ramji from India, an external consultant gave a small speech on logistics to the field force and focused on customer based issues. The daylong program included topics covering the areas like Marketing Objectives and Strategies, Sales Skills, Human Resource Development (HRD) Business Planning, Customer Relationship Management, etc.

The daylong program was followed by cultural program and dinner organised by Holcim (Bangladesh) Ltd. All the high officials of the company were present.