The New Nation - Internet Edition

Agrani Bank offers loans to those intend to go abroad

The 44th Board Meeting of Agrani Bank Limited was held on July 14 with Siddiqur Rahman Choudhury, Chairman of the Board of Directors of the Bank in the chair.

The Board has taken a need based credit programme for the unemployed youth in order to help them to go abroad with a view to solving their unemployment problems and improving their socio-economic. It was also decided that a person willing to go abroad for job or employment can avail this loan facilities at 10 per cent interest rate against mortgage of land property.

Korean co to invest $12.5m in KEPZ

BUSINESS REPORT

Messrs Bohemian Travel Gear Limited, a Korean company will set up a camping furniture, travel bag and accessories manufacturing industry in the Karnaphuli Export Processing Zone (KEPZ).

This 100 per cent foreign owned company will invest about Taka 87 crore in setting up their plant and will produce to export annually 30 million pieces of products. The company will also create employment opportunity for 785 Bangladeshi and 5 foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the Messrs Bohemian Travel Gear in BEPZA Complex, Dhaka on July 14.

Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Jin Ho Bae, Managing Director of Messrs Bohemian Travel Gear limited signed the agreement on behalf of their respective organisations.

Islamic Banks Consultative Forum holds 27th meeting

BUSINESS REPORT

The 27th meeting of Islamic Banks Consultative Forum (IBCF) was held on July 14 at the Board Room of Islami Bank Tower. Prof Abu Nasser Muhammad Abduz Zaher, Chairman of the Forum and Chairman, Board of Directors of Islami Bank Bangladesh Limited presided over the meeting.

The meeting was attended, among others, by Shah Abdul Hannan, Adviser of IBCF, Mohammad Farooq, Vice Chairman, ShahjalaJ Islami Bank Limited, AKM Nurul Fazal, Director, Exim Bank Limited, M Azizul Huq, Consultant, AB Bank Limited, M Fariduddin Ahmad, Managing Director, Islami Bank Bangladesh Limited, Kazi Masihur Rahman, Managing Director of Exim Bank Limited, KM Asaduzzaman, Managing Director, Social Investment Bank Limited, Abdul Latif Yahya, Managing Director, ICB Islamic Bank Limited, ATM Harun-Ur-Rashid Chowdhury, Additional Managing Director, Al-Arafah Islami Bank Limited, Md Jillur Rahman, Deputy Managing Director, Shahjalal Islami Bank Limited, Mohammad Abu Musa, Deputy Managing Director, Dhaka Bank Limited, M Shouquat Ali, Secretary of IBCF and Executive Vice President of Islami Bank Bangladesh Limited, ABM Abdus Sattar, Vice President of Arab Bangladesh Bank Limited, Md Wahidur Rahman Chowdhury, First Assistant Vice President of Dhaka Bank Limited and Md Fariduddin, Deputy Secretary of Islamic Banks Consultative Forum.

BCBL holds half-yearly performance meeting

BUSINESS REPORT

Bangladesh Commerce Bank Limited (BCBL) held its half-yearly meeting of business development and achievement of targets 2008 at its training institute in the city on July 11 last.

Mohammad Farhad Hossain, Managing Director of the bank presided over the meeting.

M Ebadat Hossain, Executive Vice President of the bank delivered address welcoming the guests.

The meeting discussed the issues of deposits of the bank, growth of credits, realization of default loans, foreign business, cases under trial etc of the last six months.

The meeting laid emphasis on earning profits, selecting good entrepreneurs and financing the small and medium enterprises.

The meeting also expressed satisfaction examining that the bank was not facing any liquidity crisis.

The Managing Director insisted on improving the skills of officials, realizing default loans along with resisting the classification of loans, following appropriate measures in sanctioning loans, raising the volume of deposits and increasing the import and export businesses.

Apart from the managers of 25 branches of the bank, Executive Vice President M Ebadat Hossain, Senior Vice President Sagir Ahmed, Senior Vice President Md Selim Hasan and other executives were present at the meeting.

Premier Bank Ltd holds workshop on SBS-l,2,3

Premier Bank Training Institute started its SBS-1, 2 and 3 (Schedule Banks Statistics) Training Course for the officers on July 13 of the bank. The bank's Managing Director Khondker Fazle Rashid was present in the inaugural session as the chief guest, while Additional Managing Director of the bank Md Mokhlesur Rahman spoke on the occasion.

Head of Credit Shadat Hossain and Principal of the Training Institute Ashoke Bandhu Das were also present on the occasion.

While speaking, Managing Director pointed out that the officers working in banks must know the techniques of reporting Schedule Banks Statistics (SBS) that indicates data based key indicators to ensure high return on their assets. Proper reporting in this regard contributes rating of a bank, he added.

He called upon the participants to take care in handling the issues in branches.

Huawei gives $3m wireless lab equipment to BUET

BUSINESS REPORT

Huawei, the global leader in next generation telecommunication network, signed an agreement yesterday with Bangladesh University of Engineering and Technology (BUET) at the Winter Garden of Dhaka Sheraton Hotel.

Under the agreement, Huawei Technologies (Bangladesh) Ltd will donate US$3 million (Tk 21 crore) GSM equipment to BUET for building up a full-fledged GSM Lab in EEE Department for the purpose of hands on practice as well as research and development.

The company provided the equipment as a part of its corporate social responsibility (CSR).

Wonder Wang, Deputy Chief Representative, Huawei Technologies (Bangladesh) Ltd and Prof Dr Aminul Hoque, Head of EEE Department of BUET signed the agreement on behalf of their respective sides.

Education Adviser Dr Hossain Zillur Rahman attended the signing ceremony as the chief guest while Special Assistant to Chief Adviser for Power, Energy and Mineral Resources Prof M Tamim was present as special guest.

Prof Dr AMM Safiullah, Vice Chancellor of BUET attended the programme.

It is believed that with the help of Huawei's advance technology, this joint lab and training centre will help Bangladesh to develop technically sound telecom experts.

It may be mentioned that Huawei Technologies (Bangladesh) Ltd also donated data communication equipment worth Tk 5 crore to BUET in December 2007.

Pubali Bank Ltd's Dhalagaon Branch in Munshiganj shifted to new site

BUSINESS REPORT

Pubali Bank Limited, Dhalagaon Branch in Munshiganj has been a shifted to new premises recently with a view to providing best and modern banking services.

General Manager and Chief Financial Officer (CFO) of Pubali Bank Limited ATM Hasanuzzaman inaugurated the new premises of Dhalagaon Branch of the bank in Munshiganj as the chief guest.

Regional Head of PBL Narayanganj Region DGM Syed Azizul Huque presided over the inauguration ceremony.

In his speech, ATM Hasanuzzaman said that Pubali Bank is committed to providing the best and innovative banking services within the fastest possible time. As part of providing better services and clients' increasing demand Pubali Bank has shifted its Dhalagaon branch. He also urged all the local people for extending co-operation to the bank.

In his speech, Syed Azizul Huque urged all to take banking services through the Pubali Bank Ltd.

StanChart opens new ATM booth at Tajmahal Road

Standard Chartered Bank has launched a new ATM Booth at Tajmahal Road (Opposite to Japan Garden City), Mohammadpur recently.

Tanvir Haider Chaudhury, Head of Shared Distribution and Service Quality of Standard Chartered Bank inaugurated the ATM Services from this booth. Other senior officials of the bank were present on the occasion.

This new ATM will provide 24-hour cash withdrawal facilities to all VISA, MasterCard, Cirrus and Maestro cardholders. Additionally, Standard Chartered customers can also deposit cash/cheque, pay bills, transfer funds, check their balance and print mini-statement of their accounts any time of the day, 7 days a week all year round.

Standard Chartered Bank currently has 46 ATMs spread across Dhaka, Chittagong, Sylhet, Narayanganj, Khulna and Bogra and plans to continue expanding their network.

Progressive Credit Co-operative Society declares 17pc dividend

The Progressive Credit Co-operative Society Ltd declared 16 percent and 17 percent dividends for its shareholders at its 15th and 16th annual general meetings respectively held at Gonoshasthaya Nagar Kendra auditorium on July 14. Chairman of the Society and Vice-chancellor Gono Bishwabidyaloy Dr Abul Kashem Chowdhury presided over the meeting, while Managing Director Satya Gopal Das conducted the procedures of the meeting.

A large number of shareholders attended the meeting. The shareholders also spoke on the occasion.

Earlier the new management committee of the Society was elected unopposed.

Shafiq Khan was elected the new chairman, while Sandhya Roy was elected as vice-chairman. Dr Abul Kashem Chowdhury, Md Shafiuddin, Shapnahar Begum and Nurtaj were elected as directors.

Postal Department to introduce mobile money order services

Bangladesh Postal Department is going to introduce mobile money order services and call centres, official sources said here on Wednesday. Introduction of the new services, based on 8,200 village post offices around the country, is expected to raise not only the income but also restore the department's glory, the sources said. The department suffered Taka 150 crore during the last fiscal, the sources added. The postal department has already signed a corporate agreement with grameenphone to introduce the new digitalised services. Under the new services, three staff members who man each of the 8200 rural post offices are also going to be benefited. They are now paid a salary of Taka 750 per month. Their pleas for pay hikes have remained unanswered so far.

Under the new scheme, a village postal employee will receive one mobile phone set. grameenphone will provide mobile sets along with SIM cards at a nominal price. The price for the sets would be adjusted by Taka 100 from their monthly salary of Taka 750. The people would be able to avail of services of these sets at a nominal price. The revenue turnover will be shared by the three employees of rural pots offices, expecting to raise their monthly income as well by another Taka 700 at least, the sources said.

The mobile phone company will pay five percent to the postal department from the revenues out of use of these sets. The postal department is expected to have an additional Taka 150 to 200 crore annually, the sources said.

Explaining the new services, Director General of Postal Department Mobasherur Rahman told BSS that the department will introduce the new mobile money order services.

Under the new system, a certain amount of money will remain at village post offices. Money will be paid to recipients through identification by mobile phones.

The DG said the postal department now handles 14 to 15 crore letters from which it earns Taka 34 to 35 crore. The department will have further income with the introduction of another initiative by the government to bring the courier and carrier services under new regulations of licensing.

Under the proposed regulation, a regulatory wing of the postal department will have the authority of issuing licenses and cancellation of registrations.

The DG further said that annually the courier services handles seven to eight crore letters. The postal department could earn a revenue of Taka 7 crore from their service charges.

BKB holds evaluation meeting in Sylhet

Mukter Hussain, Managing Directof of Bangladesh Krishi Bank speaking at a meeting for evaluation of business targets of BKB Sylhet Region for the financial year 2007-2008 held at Krishi Bank Bhaban at Zindabazar, Sylhet on July 11. Chaired by the Chief Regional Manager Md Firoze Khan, the meeting was also attended by Md Ali Hossain Khan, General Manager of the bank's Sylhet Division. After evaluation of performance during the financial year 2007-08 the Managing Director expressed his satisfaction for earning profit for Tk 2.87 crores by the BKB branches of Sylhet Region. After the meeting the Managing Director visited BKB financed 'Monipur Tant Palli' at Kushighat of Sylhet.

HSBC to arrange drama show Bahanno Bazar Teppano Goli

BUSINESS REPORT

The Hong Kong and Shanghai Banking Corporation (HSBC) Ltd in Bangladesh has undertaken a number of initiatives to celebrate 400 years of Dhaka as a capital city this year.

HSBC has commissioned a map which showcases places of historical importance in Dhaka's history. This map highlights the great architectural achievements that were part of Dhaka's long history as a capital. All funds raised through the sale of the map will be given to local charities. HSBC has also sponsored the works of three of the country's renowned photographers, Babu Ahmed, Munem Wasif and Taimur. Their photos capture the essence of Old Dhaka and are being shown at Drik Gallery in Dhanmondi.

In addition, HSBC is sponsoring a drama on 400 years of Dhaka which will be shown at the national theatre in Segun Bagicha from today (Thursday). The show will be open to the public from July 20 with the entire proceeds from that show going to charity.