The New Nation - Internet Edition

DSE sets Ramzan trading time

The Dhaka Stock Exchange on Thursday rescheduled its trading time during the month of Holy Ramazan.

During the month of Ramadan, trading at the DSE will begin at 10:00am and continue till 1:30 pm.

However, the DSE office will remain open from 9.00am to 3.30pm and shares will be received by the DSE clearing house till 2.30pm from 10:00am while share delivery time has been fixed from 10:00am up to 1:00pm.

25th annual general meeting: Islami Bank declares 25pc stock dividend

Islami Bank Bangladesh Limited declared 25% Stock Dividend for the Shareholders i.e. one bonus share against 4 existing share for the year 2007. This Dividend was approved yesterday in the 25th Annual General Meeting at Bangladesh-China Friendship Conference Center. Presided over by Prof. Abu Nasser Muhammad Abduz Zaher, the meeting approved balance sheet as on 31st December 2007. Profit & Loss Account and Reports of the Directors and Auditors.

Earlier, Extra-ordinary General Meeting (EGM) was held in the same venue with Prof. Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors of the Bank in the chair. Authorized Capital of the Bank raised to Tk.1000cr from Tk 500cr.

Face value of IBBL share will be One Hundred Taka each instead of existing one Thousand Taka and market lot will be ten instead of existing one.

It was disclosed in the Annual General Meeting that Islami Bank Bangladesh Limited has been able to retain it's leading position among the private sector banks in deposit. investment and foreign exchange business.

The deposit of Islami Bank increased to Tk. 16,633cr as on 31.12 2007 showing the growth rate of 26% against the same period of the previous year. Investment of the Bank stood at Tk. 16,529cr as on 31.12.2007 showing the growth rate of 41pc. The Bank handled Foreign Exchange Business to the tune of Tk. 28,792cr; the growth rate in this regard is 43pc. Import of the Bank was Tk. 13,709cr. Export was Tk. 6,669cr and Remittance was Tk. 8,414cr registering the growth rate of 42pc, 30pc and 56pc respectively against the previous year.

Prof. Abu Nasser Muhammad Abduz Zaher said in his presidential speech, IBBL achieved stable growth and continuous progress to become one of the leading Private Sector Banks of the country.

The investment of the Bank has been formulated keeping in view the national economic priorities and aiming at diversification of the investment portfolios by size, sector, geographical area, economic purpose & securities to bring in phases all sectors of the economy & all types of economic activities and different economic strata of the society within the fold of Bank's investment operations.

He said the Bank, since it's inspection, has been working for the uplift and emancipation of the underprivileged downtrodden and neglected sections of the population and has taken up various financing schemes for their well being. The objectives of the investment are to raise the standard of living of low income group. Rural Development Scheme (RDS) was launched in 1995 with the objective to alleviate rural poverty by providing small & micro investment facilities to the agricultural & rural sector, to create opportunity for generation of employment and raising income of the rural poor.

The Bank has given top priority towards the Industrial development of the country. The Bank's investment portfolio is gradually being increased towards industrial finance along with commercial investment.

He extends thanks to the Ministry of Finance, the Bangladesh Bank and the Government Agencies for providing assistance, guidance, support and cooperation at various stages of operations of the Bank.

With deep sense of gratitude he recollected the wonderful co-operation, exchange and constant support of the Islamic Development Bank (IDB), other National and overseas Islamic Banks and Financial Institutions.

Standard Chartered Bank lends Tk. 250 million for Microfinance programme of BURO Bangladesh

Standard Chartered Bank has signed a microfinance loan agreement on August 26, with BURO Bangladesh, one of the top ranked MFIs in the country. Under this financing arrangement, Standard Chartered will disburse Tk. 250 million to BURO Bangladesh. This is part of the SCB's global initiative to provide support in the microfinance sector across Asia and Africa which will in turn help to alleviate poverty for some of the poorest people in these regions. It is worth mentioning that back in September 2006, Group Chairman of Standard Chartered Bank Mr. Mervyn Davies took the stage with President Bill Clinton at the second Clinton Global Initiative and committed to establish a USD 500 million microfinance facility. Current microfinance operations of SCB spans across Africa and South Asia with over 41 clients in 13 countries with ongoing expansions such as this deal. SCB Bangladesh made arrangements for microfinance facilities worth USD 70 million in 2007 alone.

BURO will use this fund to grow their microfinance portfolio to bring changes to the lives of around hundred thousand people all over Bangladesh. Ahmed A Shah, Managing Director and Head of Origination & Client Coverage of Standard Chartered Bank, Bangladesh and Zakir Hossain, Executive Director of BURO Bangladesh signed the agreement on behalf of their organisations. Senior officials from both the organisations were also present at the signing ceremony held in Dhaka.

Established in 1990 BURO Bangladesh was one of the first MFIs in the country to articulate a clear, unequivocal commitment to achieve financial sustainability.

The organisation is responsive to diverse financial needs of customers. In addition to the regular microcredit programme, it provides agriculture loans to small and marginal farmers and stepped up loans to the graduated clients called enterprise loan."

Holcim holds mason meet in Comilla

Holcim (Bangladesh) Ltd, the leading cement manufacturer of the country has recently organised a mason meet at country's Comilla district. In all around the country Holcim is well known for its quality and advance technology. Holcim has a tremendous demand in Comilla District. Holcim providing cement to Comilla district since from the very beginning and the good news is the people of Comilla district are using Holcim with a deep satisfaction and giving high priority to its quality.

Holcim always actively perform its corporate social responsibility along with its business activities. Under corporate social responsibilities Holcim organised this at Comilla Town Hall in Comilla District. Around 400 masons were present in this meet and many dealers and retailers joined the meeting from Comilla and adjacent area.

Masons are the key workers at construction sites, but they have long been considered as downtrodden section of the society, despite their large contribution towards the development of the country in general and construction in particular and realising this reality; Holcim has come forward to extend all possible supports towards the improvement of this segment of the society. As part of Corporate Social Responsibility (CSR), Holcim had taken an initiative to provide insurance coverage for masons. Under this insurance program if any mason (i.e. enlisted under this programme) falls any accident and/or expires during construction work, the insurance holder will receive compensation of Tk. 25,000 - Tk.50, 000 through fulfilling certain conditions. In this mason meet, Holcim gave 25,000 Tk/= as the insurance policy money to the mason, Abdul Kader Mystry. 5 children of masons, each got 3000 Tk/= as scholarship money for their brilliant result also which is another extreme facilities Holcim Bangladesh Ltd is providing for masons.

In this mason meet, Jashim Uddin Khandaker, GM - Customer Care of Holcim (Bangladesh) Ltd, welcomed all the masons and said, "Holcim is the first company in Bangladesh, took such a initiative for the betterment of the mason which create huge positive impact on masons living standards." Senior Executive- Customer Support, Achinto Kumar Roy, senior Executive-Customer Care, Shaibal Shaha, and Territory Officer-Customer Care, Masudul Hasan Rana and other well-known dealer and retailer were also present in the meeting.

All the masons who were present in meet express their gratitude and thanked Holcim for arranging these meet and making their life easy. After the programme there was a nice cultural show for all of them.

DBBL's Smile-Brighter programme in Kishoreganj

Under the DBBL Smile-Brighter Program, Dutch-Bangla Bank limited organised a 4 day-long plastic surgery operation, during August 25-28, in Kishoreganj for the poor cleft-lipped boys and girls at the Bank's own cost to bring back enduring smile on their faces.

The operations were performed at Firoza Clinic, Kishoreganj by a surgery team headed by eminent plastic surgeon Dr. A. J. M. Salek. About 100 cleft-lipped boys and girls have been enlisted for surgery and 50 of them were operated successfully.

Dr. Mozammel Hossain Khan, Medical Consultant of Dutch-Bangla Bank Limited visited the hospital and inquired about the condition of pre/post-operative patients.

Among others Dr. Nausad Khan, Consultant of Sador Hospital, Kishoreganj, parents of the cleft-lipped boys and girls, local doctors, journalists and the elite people of the town were also present.

World class call centre training programs at Dhanmondi

Hero Mindmine, Asia's Largest BPO training company and a subsidiary of Hero Corporate Service Limited and part of renowned Hero Group signed an MOU for setting up a Career Training Center in Dhanmondi to offer training to aspirants seeking to improve their Employability and Communication Skills. Stamford University of Bangladesh has been awarded for running the center as a franchise of HMIL. A.B.M. Reazuddin Mosharaf, Managing Director, Windmill Education Services Ltd, the master franchise of Hero Mindmine Institute Limited and Prof. M. A. Hannan Feroz, President, Stamford University Bangladesh has signed the contract from their own parts. Ms. Fatinaaz Feroz, Vice President and Md. Anisur Rahman, Head of Division, IT of Stamford University Windmill Education Services Ltd were also present during the signing ceremony.

Remittance deal signed between Mercantile Bank and Seylan Bank

Mercantile Bank Limited recently signed an agreement with Seylan Bank plc, Sri Lanka. M.A. Shahjahan, Deputy Managing Director of Mercantile Bank Limited and Ajita Pasqual GM & CEO of Seylan Bank plc, Sri Lanka signed the agreement on behalf of their respective organisations. At the signing ceremony A.K.M. Shahidul Haque, Managing Director (current charge); Md. Abdul Jalil Chowdhury, Senior Executive Vice President; Monindra Kumar Nath, Senior Executive Vice President & CFO and other Executives of the Bank were also present on the occasion.

After the agreement Bangladeshi expatriates all over the world will now be able to remit their hard earned money home from abroad easily & quickly through Mercantile Bank Limited.

SIBL Board Audit Committee meeting held

The 58th meeting of the Board Audit Committee of Social Investment Bank Limited was held in the Board Room of the bank on August 28. Janab Kamaluddin Ahmed, Hon'ble Chairman of the Board Audit Committee of the bank presided over the meeting. SIBL directors Humayun Kabir Khan, Md. Sayedur Rahman, Managing Director K. M. Ashaduzzaman and Board Secretary Mahamud Hassan were present in the meeting.

Singapore tourism sector tunes-up before F1 night race

AFP, Singapore

Singapore is giving workers in the tourism sector a tune-up before tens of thousands of auto racing fans descend on the city-state for the world's first Formula One Grand Prix night race.

Up to 2,000 supervisors who work in shops, bars, restaurants and tourist attractions will receive the four-hour training, the Singapore Tourism Board said in a statement today. The training is "specially designed to refresh participants on the finer points of providing good customer service as well as provide essential information on the race" and related events, it said.

Singapore is to host a Grand Prix street circuit race for the first time on September 28. It will also be the sport's first race held at night.

The government is hoping the event will boost its tourism coffers by 100 million dollars (70.6 million US) a year.