New Vice Chairmen of Bank Asia
June 27, 2010
Mr. Mohd Safwan Choudhury and Mr. Mohammed Lakiotullah have been elected Vice Chairmen of Bank Asia at a meeting of the Board of Directors of the Bank held Thursday.
Importance of credit report in int’l trade finance
June 24, 2010
Ibnat Islam Etu
and Ibsan Islam Edi
Business environment is changing rapidly that demands the banks to be more alert and dynamic. Many financial and business institutions collapsed during the devastating world economic recession that started in 2008. Amidst all these bankers are to work with the exporters and importers managing risks.
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Banks raise interest rates on deposits
June 22, 2010
The commercial banks have raised their interest rates on deposits in the current month to attract the special notice deposit (SND) accountholders as well as reduce the interest rate spread, officials said.
At least 13 commercial banks have increased interest rates on deposits in June, while interest rates on lending remained almost the same in the country’s banking sector.
Central bank unveils 5-yr strategic plan
May 31, 2010
The central bank Sunday announced its first five-year strategic plan aiming to add an impetus to the country’s economic development by brining in more people under the banking network.
“Financial inclusion is one of the key objectives of the strategic plan,” Bangladesh Bank (BB) Governor Atiur Rahman said while unveiling the plan document at a local hotel.
Power should be in focus of all initiatives: ICC-B
May 17, 2010
“Given Bangladesh’s foreign currency reserves and the latest credit rating, the task of finding finance should not be insurmountable,” said the bulletin editorial of International Chamber of Commerce-Bangladesh (ICC-B).
Power generation, transmission, distribution and hydrocarbon exploration need huge investments and the government should be innovative, bold and decisive in this regard, it said.
Electronic media’s transactions come under BB scanner
May 4, 2010
Financial transactions including inward remittances in the form of subscription or ad of electronic media have come, for the first time, under scrutiny of the central bank, officials said.
Under the new measure, commercial banks and financial institutions will have to report to Bangladesh Bank (BB), about any transaction amounting to US$50,000 or above in inward remittance or any other suspiciousfinancial transaction.
HSBC expands ATM network at Banani, Dhanmondi
April 18, 2010
The Hongkong and Shanghai Banking Corporation (HSBC) Limited in Bangladesh has expanded its ATM network in Dhaka with the opening of two new ATMs at Banani and on Satmasjid Road at Dhanmondi.
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StanChart launches Financial Kiosk
April 17, 2010
Standard Chartered Bank Tuesday launched Financial Kiosk- first of its kind ever launched in Bangladesh.
Emirates Int’l Exchange to remit thru’ BRAC Bank
April 8, 2010
Emirates International Exchange (EIE), one of the leading exchange houses in the Middle East, has joined hands with BRAC Bank for remittance transfer to Bangladesh.
EIE will send all remittances online so that customers can receive their payments in 24 hours in urban areas and 48 hours in rural areas, thanks to BRAC Bank’s door-to-door services, said a press release.
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Dhaka stocks dip to one-week low
April 7, 2010
Dhaka stocks dipped more than one per cent to a one-week low Tuesday with the turnover also sinking below Tk 6.0 billion-mark for the first time in six months.
Most of the selling took place of all the major sectors including banking, telecommunicates, pharmaceuticals, energy, insurers and mutual funds stocks.