Professional skills must for attaining success in banking sector
January 25, 2010
‘Gaining professional skills is inevitable to attain success in the banking sector along with socio-economic development of the nation’ underlined by the speakers of the inaugural session of foundation training course for newly appointed offices of Rajshahi Krishi Unnayan Bank (RAKUB) at Rajshahi Sunday, reports BSS.
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BB asks banks to be cautious while investing in real estate
January 20, 2010
The central bank unveiled Tuesday an inclusive half-yearly monetary policy that, it hoped, would help attain higher economic growth and keep inflationary pressure under control.
“Financial inclusion is a key feature of the new monetary policy,” Bangladesh Bank Governor Atiur Rahman told newsmen.
WB helps BB build defence against financial crisis
January 16, 2010
The Bangladesh Bank has undertaken an exclusive programme to shore up its regulatory system in a move to better protect the banking industry from the potential financial crisis, officials said Friday.
Supported by the World Bank, the central bank has started implementing the plan for crisis preparedness and reviewing the defence systems as devised by central banks around the world, they said.
A World Bank official said his bank was coordinating with the central bank and sent 10 banking regulators to Canada Friday for a five-day course tailored to the needs of the banking watchdog.
Bangladesh’s banking sector has received kudos for its resilience in the face of the global financial crisis that pummeled the international financial system. Banks and stock markets in much of the developed and emerging economies crashed in late 2007 as a result of the crisis.
“We were absolutely unscathed. But that resilience has to be turned into a lasting strength,” a central bank official said.
“The world has much to learn from Bangladesh’s experience. And we’re supporting the country’s bold move to strengthen its defence against future calamity,” said Shah Nur Quayyum, an official at the World Bank who is leading the team.
“The training programme was customised for Bangladeshi central bankers,” he added.
A BB official said the course was part of the long-term programme and would be held at Toronto Centre, a Canadian consultancy with worldwide operations.
Titled “preparing for the new financial regulatory regime,” the course will begin on January 17 and conclude on January 22.
The Toronto-based centre trains up financial regulators from around the world to help improve their agency’s crisis preparedness and promote change that will lead to a more “sound and inclusive” financial system.
It offers programmes in a highly interactive setting using case studies, presentations and workshops, according to its website.
At the request of the World Bank, the centre has developed a country-specific programme for Bangladeshi regulators to sharpen their leadership and technical skills in order to address future challenges.
Top financial experts and central bankers from Canada, UK and Korea will conduct the workshop led by Ruth De Krivoy, Vice Chair, Toronto Centre, and former head of Central Bank of Venezuela.
Officials said further discussion would be held on the causes of the financial crisis including how and why some regulators failed to detect, prepare for and manage the crisis, while others were more effective.
There would be a discussion on implications of the crisis for Bangladesh and lessons to be learned from the crisis, Mr Quayyum said.
It will brainstorm on the G20 initiatives to “crisis-proof’” the global financial system, including an evaluation of the initiatives and their potential effectiveness and suggestions for what more needs to be done.
A discussion will be held on tools available to central banks for managing a systemic crisis, liquidity management frameworks, quantitative easing, lender-of-last resort provisions and a central banking perspective on resolution challenges and strategies, according to a background paper for the course.
There would be session dedicated to strengthening capital rules for banks, including an evaluation of strengths and weaknesses of the Basel II capital framework and the changes now under discussion and suggestions for practical, country-specific approaches to Basel II implementation.
Paul Jenkins, Senior Deputy Governor, Canadian central bank, will be the dinner speaker and present a speech on Canada’s Financial Sector Responses to the Global Crisis.
A session on improving financial supervision, including a discussion of why supervision in many countries is inadequate, and the benefits and pitfalls of risk-based supervision will be presented by Naren Sheth, former Senior Director of OSFI.
Michael Hafeman, Naren Sheth, Miquel Djikman will lead the discussion on the state of supervision in Bangladesh and preconditions for implementing risk-based supervision.
Source: thefinancialexpress-bd.com
Bank’s total deposit now Tk 239.37b
December 23, 2009
“IBBL now offers services through 34 shared ATM booths across the country along with 6 other banks and the modern service will be enhanced by establishing 100 own ATM booths,” said Prof Abu Nasser Muhammad Abduz Zaher, chairman of Board of Directors of thebank while addressing the inaugural ceremony.
BB favours Rupali Bank rights issue decision
December 2, 2009
The central bank has favoured the decision of the board of directors of the Rupali Bank, a ‘Z’ category listed issue, to issue right shares to meet the paid-up capital shortfall of the Bank, official sources said.
The central bank made available its recommendations to this effect to the Ministry of Finance (MoF) last Sunday. Earlier, the MoF sought to know from the Bangladesh Bank about its position on the right share issue.
BB’s push for farm loan puts banking sector at odds
November 18, 2009
The World Bank and the International Monetary Fund (IMF), in a recent stocktaking on the banking sector, said the agricultural credit disbursement through legions of microfinance institutions (MFIs) entails “significant risks” as funds flowing to them go mostly unmonitored due mainly to Bangladesh Bank’s poor supervision.
StanChart starts Automated Clearing test with BB
November 11, 2009
Standard Chartered Bank started Systems Integration Testing ( SIT ) this week with Bangladesh Bank, as a part of the implementation of Bangladesh Automated Clearing House ( BACH ) project. Bangladesh Bank is introducing automated clearing in Bangladesh to replace the existing manual cheque clearing process. This milestone automation initiative will greatly increase the efficiency of the banks; customers will benefit from the reduction of time needed to transfer funds from one bank to another.
EBL to get refinance facility from central bank
November 8, 2009
Eastern Bank will get the refinance facilities from Bangladesh Bank for onward lending to its customers for setting up solar energy projects, bio-gas and effluent treatment plants.
IFC, Bangladesh Bank back sustainable energy financing
November 4, 2009
IFC, a member of the World Bank Group, has formed a partnership with the Bangladesh Bank and local financial institutions to introduce systemic change in the way banks do business to increase investments in sustainable energy finance.
During her official visit to the country, IFC Vice President for Business Advisory Services Rachel Kyte met with Bangladesh Bank Governor and leaders of 40 financial institutions to discuss ways to make sustainable energy finance available to small and medium enterprises.
BB click-starts online banking
November 3, 2009
Bangladesh made a giant stride towards introduction of e-commerce Monday after the central bank allowed online money transaction, payment of utility bills through Internet and transfer of funds from one bank to another.
Bangladesh Bank gave the groundbreaking directives to commercial banks through a circular, saying from now on their clients can pay power, water, gas and phone bills from bank accounts and transfer funds within a bank or to other banks.