Westmont duped govt, banks: ex-consultant
November 20, 2008
Allegations of financial irregularities and violation of investment conditions have been brought against private sector power production unit Westmont Power Ltd. The company’s former finance adviser, and chief executive of Timely Investment, Arif Niazi made the allegations public at the National Press Club on Tuesday. A fellow former financial adviser of Westmont, Finn Jenson was also present at the press conference.
Bank fears resurface, Asia stocks sink
November 19, 2008
Asian stocks fell by up to 5 percent on Tuesday as prospects of a deep global recession and one of the biggest job cut plans in history at Citigroup doused expectations for a financial sector recovery in 2009. Major European stock market futures shed as much as 0.6 percent in early trade, following losses in Asia and U.S. markets. S&P 500 futures were down 0.8 percent.
Banks fear deficit on slow import loan repayment
November 18, 2008
Commercial banks are likely to face a huge deficit this year following a delay in repayment of loans provided for import of commodities. According to bankers, the deficit would go up to Tk 5,000 crore. However, the Bangladesh Bank in a circular on Sunday extended the time limit for such loan repayment to 150 days from 60 days, which evoked a mixed reaction among bankers.
DBBL Board decides to increase authorised capital to Tk 4,000m
November 17, 2008
The 84th meeting of the Board of Directors of Dutch-Bangla Bank Limited was held at the bank’s Board Room, Head Office, Dhaka on November 9 last. Abul Hasnat Md Rashidul Islam, Chairman of the Board of Directors presided over the meeting.
IBBL MD gets Sir Salimullah Gold Medal for contribution to Islamic Banking
November 16, 2008
M Fariduddin Ahmad, Managing Director of Islami Bank Bangladesh Limited was awarded Nawab Sir Salimullah Gold Medal for his outstanding contribution to the Islamic Banking. Dr Saleh Uddin Ahmed, Governor of Bangladesh Bank gave away the medal and certificate as the chief guest at a function organized by Nawab Sir Salimullah Foundation on November 12 last at a hotel in the city.
IBBL MD gets Sir Salimullah Gold Medal for contribution to Islamic Banking
November 15, 2008
M Fariduddin Ahmad, Managing Director of Islami Bank Bangladesh Limited was awarded Nawab Sir Salimullah Gold Medal for his outstanding contribution to the Islamic Banking. Dr Saleh Uddin Ahmed, Governor of Bangladesh Bank gave away the medal and certificate as the chief guest at a function organized by Nawab Sir Salimullah Foundation on November 12 last at a hotel in the city.
Twelve distinguished personalities of the country were accorded reception at the function for their significant contributions in different sectors.
Renowned Banker M Fariduddin Ahmad has been appointed as Managing Director of Islami Bank Bangladesh Limited. He discharged his duty as Deputy Executive President and Head of Operations Wing of the bank. He joined Islami Bank Bangladesh Limited on the first day of its establishment on March 30, 1983. He is the first Managing Director from the own manpower of IBBL. He started his banking career in Sonali Bank. He served in the bank as Branch Manager, Faculty Member of Staff College, Electronic Data-processing Department and other departments of that bank for several years.
M. Fariduddin Ahmad played pivotal role in the development of Islamic banking systems and procedures and training of manpower at the pre-establishment stage of Islami Bank Bangladesh Limited. He contributed a lot in devising and introducing Islamic banking accounting systems and the principles of distribution of profit to various participating fund.
He also edited the Investment Manual for financing under Islamic principles.
He attended various training programs, conference, seminar, symposia and workshops on Islamic banking and economics at home and abroad. He visited USA, UK, KSA, China, Hong Kong, Thailand, Macau, Iran, UAE, Pakistan, Singapore, Indonesia, India, Nigeria, Switzerland, France, Germany, Japan and other parts of the world.
Source: The New Nation
Round Table held on banking software
November 12, 2008
Brac University and Bangladesh Association of Software and Information Services (BASIS) jointly organised a roundtable on Banking Software in Bangladesh: Problems and Prospects on 8th November, 2008 at Bangladesh China Friendship Conference Centre.
HSBC may cut 600 jobs in Asia: report
November 11, 2008
The Asian arm of UK bank HSBC Holdings may cut 600 more staff as economic conditions worsen, Hong Kong’s Standard newspaper reported on Monday, citing unnamed sources. HSBC spokesman Gareth Hewett declined to comment.
Banks, NBFIs submit updated information to central bank
November 10, 2008
Islami Bank holds Board of Directors meeting
November 9, 2008
A meeting of the Board of Directors of Islami Bank Bangladesh Limited was held on Thursday at the Board Room of the Bank at Islami Bank Tower. Prof. Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors of the Bank presided over the meeting.