The New Nation - Internet Edition

StanChart celebrates first anniversary of Islamic Financial Services- Saadiq

NATION BUSINESS REPORT

Standard Chartered Bank has celebrated the first anniversary of Saadiq, the Islamic Financial Services of the bank.

Sandeep Bose, Regional Head of Consumer Banking of Standard Chartered Bank inaugurated the programme held at a hotel in the city on Monday night.

Kamran Sunjoy Rahman, Head of Islamic Banking and Sarwat Ahmad, Senior Manager of Corporate Affairs also spoke on the occasion.

In his speech Sandeep Bose focused on the current trends of Islamic banking across the world.

He said, "Bangladesh being the key market Standard Chartered launched Saadiq last year. And, from its inception, Saadiq has been offering a range of Shariah-compliant financial solutions to the customers through our world-class service infrastructure.

All Saadiq policies and services are free of interest application. All Saadiq customers will also enjoy the bank's ATM network, online Banking, and 24 hour call centre facilities. In addition to the network of 25 branches and over 300 ATMs (including the DBBL network) across the country, currently there is also one dedicated Islamic Banking Centre in Bangladesh at 102 Gulshan avenue, Dhaka 1212."

"We have a team of experienced banking professionals for our global Saadiq operations based in the UAE. Our local team works in consultation with and guidance from the Group Islamic banking tea and is responsible for keeping Saadiq products compliant with Shariah requirements as approved by the Bank's Global Shariah Supervisory Committee. ," he added.

In the programme the audience were introduced to the products currently being offered under the deposit and financing umbrella, namely Saadiq Current Account, Saadiq Savings Account, Saadiq Term Deposits, Saadiq Personal Finance, Saadiq Auto Finance, Saadiq Credit Card.

Kamram Sunjoy Rahman said, "In addition to the current products, we are going to launch two new products--Saadiq Home Finance and Saadiq Business Finance soon."

The launching of a brand awareness campaign titled, 'Saadiq- Around the Country in 40 Days" was also inaugurated at the programme to familiarise people with the different aspects of Saadiq.

The programme was attended by a number of customers of the bank, representatives of Bangladesh Bank and other regulatory bodies and the senior officials of the bank. Four customers of the bank were also awarded at the function.

Bakhrabad Gas earns net profit of Tk 589.42cr

NATION BUSINESS REPORT

Bakhrabad Gas Systems Limited (BGSL) earned a net profit of Tk 589.42 crore during the financial year 2007-08. The company earned total revenue of Tk 1460.02 crore by selling 2826.75 million cubic meter of gas and paid Tk 649.65 crore to the government exchequer.

It was disclosed at the 28th Annual General Meeting of the company held on November 30 last, which was presided over by Md Wahidunnabi Choudhury, Additional Secretary, Energy and Mineral Resources Division and Chairman, BGSL Board of Directors.

The company has surpassed its target set for pipeline construction and gas connection during the FY2007-08. BGSL constructed a total of 227.38 kilometers of network pipeline during the year, which is 29.93 percent higher than the target.

BGSL provided a total number of 38,514 gas connections as against the target of 28,385 since its inception, the total length of pipeline stood at 6091.50 kilometer and cumulative gas connections stood at 4,33,887 numbers.

The company has set a future target for constructing 150 km network pipeline and to provide 25,000 new gas connections during the next financial year. Keeping pace with present development trend, necessary actions have been taken to facilitate gas supply to Karnaphuli and Korean EPZ at Chittagong, four small power stations under private sector at different locations in BGSL franchise area. In addition, necessary steps have been taken to supply gas to 150MW Shikalbaha Power Station and 150MW Chandpur Power Plant of Bangladesh Power Development Board. With the completion of aforesaid projects gas supply in BGSL franchise area will be increased and simultaneously the company's revenue earning will also be enhanced accordingly.

Popular Pharma to market vaccines from Panacea

NATION BUSINESS REPORT

Popular Pharma has signed an agreement for technology transfer, marketing and distribution of vaccines from Panacea Biotec.

Panacea Biotech is a globally renowned and WHO accredited vaccine manufacturer. The Bangladesh government is presently importing vaccine from Panacea for EPI coverage. Popular has already invested to build world class vaccine manufacturing plant at Tongi.

Every year approximately 4 million children receive vaccine through EPI for 6 common diseases and most of the vaccines have been imported so far. Local manufacturing of vaccines is expected to ensure EPI coverage with low cost and make the country self reliant in vaccine manufacturing technology in near future.

Popular Pharma is committed to deliver sophisticated life saving drugs of a wide range to the health sector of Bangladesh at affordable prices from its unparallel state of the art manufacturing plant, established with record investment in the country.

Popular Pharmaceuticals Ltd has already introduced human insulin, dialysis fluid, azithromycin injection and many other unique formulations for the first time in Bangladesh to meet local and global needs. Popular's high quality drug is already available in 5 more countries of the world.

Australian scholarships awarded

STAFF REPORTER

Australia has awarded 61 scholarships to students from Bangladesh to support the country's human capital and economic development.

The Australian scholarships are aimed at developing Bangladesh's capacity in key areas such as education, public health, water management, gender, public policy and diplomacy.

"Australia is very pleased to be assisting Bangladesh to develop its human capital by offering 61 scholarships to Australia's world-class universities," Australian High Commissioner, Douglas Foskett, said on December 1 at a ceremony held in Dhaka.

Mr Foskett emphasised Australia's ongoing support for Bangladesh's focus on human resource development as a critical way to promote economic development.

Congratulating the scholarship awardees, the High Commissioner highlighted Australia's relationship with Bangladesh and said, "Australia's partnership with both government and non-government agencies ensures the scholarship program will help strengthen the capacity of institutions in Bangladesh."

"On their return from Australia, the awardees will be able to contribute significantly to their own workplaces and the country as a whole."

Included in the 2009 intake are 13 awardees of the Australian Leadership Awards, which targets current and future leaders and key personnel in corporate, academic, non-government and government services.

ALA Scholarship recipients have an important role to play, as future leaders, in helping countries in the Asia Pacific region make progress towards the Millennium Development Goals.

Saiful Alam Hamidi, Deputy Chief, Economic Relations Division, also congratulated the scholarship awardees and expressed his gratitude to the Australian Government for the valuable support and cooperation provided to the Government of Bangladesh through Australian scholarships.

National Bank's l04th branch at Meghulabazar in Dohar opened

The l04th branch of National Bank Limited has been inaugurated at Meghulabazar, Dohar, Dhaka recently.

Parveen Haque Sikder, Director and Ex-Chairperson of the bank formally inaugurated the branch as the chief guest.

A discussion meeting was held on the occasion.

In her inaugural speech, Parveen Haque Sikder said that like other branches of the bank, NBL would make constant efforts for the business development of Meghulabazar area.

Md Abdur Rahman Sarker, Managing Director of the bank mentioned in his speech that the banking network of NBL had further been extended in the greater Dhaka.

"Our Meghulabazar branch will fulfill the cherished desire of the people of this locality for modern banking facility," he also added.

Among others, Azizur Rahman, Deputy Managing Director and AKM Shafiqur Rahman, Senior Executive Vice President and Company Secretary of the bank delivered welcome addresses and Nazir Ahmed, Manager of Meghulabazar Branch delivered vote of thanks.

The elites and businessmen of the area were also present at the opening ceremony. Saidur Rahman, Senior Asstt. Vice President of the bank conducted the programme.

Future Group's corporate office inaugurated at Dhanmondi

Future Group Bangladesh started functioning its corporate office on the 5th floor at House No. 84, Road- 7/A, Dhanmondi in the city on November 28 last.

Prof Dr Sador Uddin, Head of the Department of English and Dean of the Faculty of Arts at Northern University was present on the occasion as the chief guest.

Prof Dr Habibur Rahman, Dean of School of Business of the United International University was present as the keynote speaker.

Prof AMM Hamidur Rahman, Chairman of Future Group Bangladesh and Professor of English at the Institute of Modern Languages, DU presided over the ceremony.

Md Yasir Ahmed, Managing Director of Future Group and SM Zakir Hussain, Founder Chairman of Future Group, Future Publications Ltd, explained the aim of founding the organisation and its future plan.

A week long education fair and free workshop were also arranged at the same venue to provide the learners with information for admission into various courses. The fair will continue up to December 5 next.

Zafar Osman President, M.S. Shekil Chowdhury Sr. Vice President, Sirajuddin Malik Vice President

NATION BUSINESS REPORT

Zafar Osman has been elected President, M. S. Shekil Chowdhury Senior Vice President and Md Sirajuddin Malik Vice-President of the Dhaka Chamber of Commerce & Industry (DCCI) for the year 2009.

Zafar Osman, former Vice President and Senior Vice President of DCCI, comes of an illustrious family of Sylhet. He is a well reputed businessman and industrialist.

He is the Managing Director of International Trade Connection (Pte) Ltd, Director of 100 percent export-oriented garment manufacturing units:M/s Tiffiny's Wear Ltd, Four Wings Ltd and Saville Row Ltd. He is the sponsor director of a joint venture industry--Consumer Knittex Ltd. Mr Osman is a widely traveled person, represented trade associations and trade bodies in different forums both home and abroad.

M. S. Shekil Chowdhury, newly elected Sr Vice President of DCCI is the President and CEO of TCBL Group, a multipurpose trading and investment house covering capital market, construction, supply, transport, consultancy, tourism, newspaper, human resource development etc.

An ex-insurance expert Mr. Chowdhury is the Chairman of Innovation Fashion House, International Hotel and Tourism Training Institute, chief convenor & applicant of Sylhet Stock Exchange Ltd (prop.), Chairperson of Centre for NRB's, Country Chief of British Consultancy Charitable Trust (BCCT), Secretary General of Bangladesh Social and Economic Forum (BASEF), Convener of Campaign for Responsible Citizen, Ex-Country Chief of British Executive Service Overseas (BESO).

Md Sirajuddin Malik, newly elected Vice-President of DCCI was the Vice-President of DCCI for the years 1993-94.

He is a Member of FBCCI and Chairman, Standing Committee on Old Dhaka City. He was the founder GS, SVP and President, Bangladesh Shoe Maker's Association. He is also Vice-President of Dhaka Samity, member and former President of Lions Club Dhaka, Co-Chairman, International Lions Club. Malik is the Managing Director of Capital Plastic and Rubber Industries, Capital Chemical Industries, Capital Plastic Garbage Recycling Industry and Capital Trading Company.

Eight other newly elected Directors for 2009-2011 are: Waliur Rahman, Engr Syed Mosharraf Hossain, Omar Faruque, Niaz Rahim, Md Nasiruddin Khan, M Anwarul Haque, Serajul Islam and Nasir Hossain. The newly elected President, Sr. Vice President, Vice President and other Directors took charges on December 1, 2008 in the 4th Annual General Meeting (AGM) of DCCI.

Ex-Ambassador Sirajul Islam joins Southeast Bank as ED

M Serajul Islam, a retired Grade A Ambassador/Secretary to the Government of Bangladesh joined Southeast Bank Limited as Executive Director.

A professional diplomat, Ambassador Islam started his career in the erstwhile Pakistan Foreign Service. He was posted in Bangladesh missions in Canberra, New Delhi, Washington and Beijing. His two ambassadorial assignments were to Egypt with concurrent accreditation to Greece, Cyprus, Sudan, Ethiopia and Japan. At the headquarter in Dhaka, he served as Director General, South Asia and Far East. He retired from the government service in April 2006.

During his career, Ambassador Islam attended a number of international conferences as a member of the Bangladesh delegation.

These included the UNIDO 111 in New Delhi, Commonwealth Heads of Regional Governments Meeting in Fiji and Melbourne.

Prior to joining the Pakistan Foreign Service, Ambassador Islam taught Political Science at the University of Dhaka as a Lecturer. Ambassador Islam also undertook graduate studies in Political Science in the University of Brock, Canada in 1975-1976.

Diplomat Islam was actively associated with sports. He played cricket and captained the Dhaka University Tennis Team in 1968 and 1969.