- December 15, 2017
Probe body formed after borrowers complain of wrong default notices
Some Sonali Bank officials in Lalmonirhat have allegedly embezzled a large amount of agricultural loan instalments from farmers.
A three-member probe body was formed yesterday, headed by the Senior Executive Officer of Sonali Bank’s principal office in Kurigram Mostafa Mandal, to look into the allegations.
The manager of the branch involved said the field level officials were behind the corruption.
They submitted the request to the finance ministry so it could consider the allocation in the upcoming budget for the fiscal 2013-14
The state-owned banks and financial institutions have urged the government to provide them with a budgetary allocation so they could overcome the acute capital shortage.
They submitted the request to the finance ministry so it could consider the allocation in the upcoming budget for the fiscal 2013-14.
The finance division at a review meeting on Monday, however, considered that the executives of the banks and FIs have created the crisis through irregularities, corruption and increased default loans, said an official.
A 6-member REHAB delegation, led by Joint Secretary Md Wahiduzzaman, attended the meeting, with BB Governor Dr Atiur Rahman in the chair
Bangladesh Bank would consider resuming its ‘Housing Refinance Scheme’ next year subject to falling the rate of inflation to an affordable level.
“We’re not thinking of launching the scheme right now considering the inflation situation,” Deputy Governor SK Sur Chowdhury told reporters, after a meeting with a delegation of Real Estate and Housing Association of Bangladesh at the central bank headquarters in Dhaka on Monday.
NDB Capital Limited organised the discussion styled as “Potentials of Shariah-compliant Investment Instruments in Bangladesh” in Dhaka recently
The speakers at a discussion said Bangladesh is a highly potential market for shariah-based investment products.
They, however, identified some major challenges which include lacks of regulation, reference rate, secondary market and overall awareness to make sharia-based products a success.
NDB Capital Limited organised the discussion styled as “Potentials of Shariah-compliant Investment Instruments in Bangladesh” recently in Dhaka, said a press release.
Governor Dr Atiur Rahman inaugurated the project at a function at the Bangladesh Bank headquarters in Dhaka
Bangladesh Bank Sunday launched a financial literacy project to bring a large community under the banking services.
Governor Dr Atiur Rahman inaugurated the project at a function at the Bangladesh Bank headquarters in Dhaka.
He said the concept of financial literacy spread across the world following the global financial crisis to ensure financial stability. Developing and developed nations have been working on financial literacy since then.
Transaction through mobile banking service has been increasing at a rate of 20% every month
Mobile banking is gaining ground among the people of the country since Bangladesh Bank formulated a guideline nearly two year ago.
“Mobile banking grew at a faster pace, proving that it is more useful than the formal banking,” said Atiur Rahman, governor of Bangladesh Bank, while launching the mobile banking service of NCC Bank designed as “Sure Cash” at a hotel in Dhaka on Sunday.
Transaction through mobile banking service has been increasing at a rate of 20% every month, he said.
Basel II means bank capitalises on the modern risk management techniques and seeks to establish a more risk-responsive linkage between the banks operations and their capital requirements
The state-owned Sonali Bank has sought the banking division permission to issue rights share to enhance its capital base.
Finance Minister AMA Muhith is now examining the proposal to rescue the country’s largest commercial bank from cash crunch it is suffering since the Hall-Mark Group credit scam, said a senior official of the banking division.
He said the government has enough liquidity to make up the capital shortage, which is necessary to comply with the Basel –II conditions.
A sub-committee of the parliamentary standing committee on the finance ministry was formed to inquire into one of the country’s biggest financial scandals, involving over Tk35.47bn
A parliamentary probe on the Hallmark scam may have been in vain because the head of the official body that ordered the enquiry seems reluctant to take action against offenders.
A sub-committee of the parliamentary standing committee on the finance ministry was formed to inquire into one of the country’s biggest financial scandals, involving over Tk35.47bn. The findings were submitted to the parent body on December 12, 2012.
BB chief said a number of 80,000 youths are entering the country’s IT sector every year after completing their education
Bangladesh Bank Governor Dr Atiur Rahman has invited foreign investors to invest in the country’s information and technology sector.
He made this call while attending the US Bangladesh Tech Investment Summit-2013 at Silicon Vally in the United States on May 7.
IT expert Sajib Wazed Joy also spoke on the occasion.
Through a powerpoint presentation, Dr Atiur Rahman showed how Bangladesh could be an attractive place for foreign IT investment.
The banks will provide credit to the housing sector after ensuring laws and regulations
Bangladesh Bank yesterday asked all banks and financial institutions to send reports by next month on the legal compliance of housing and real estate projects they financed.
The compliance report should also be submitted in cases of the buildings and spaces the banks and FIs have got on their own use.
The reports will have to be submitted by June 30, said a Bangladesh Bank circular issued yesterday.
If the news of the bank was publicised widely, it would be difficult to cope with the situation: senior official
Majority of overseas jobseekers are unaware or know little about the existence of Probashi Kallyan Bank, which provides loans at low interest rates to go abroad.
Since the inception of the bank on April 20, 2011,merely 1,700 overseas workers and returnee migrantshave benefitted from taking a loan from the bank. However, during the same period,almost a million individuals went to work abroad, bank officials said.
The bank had started its operation from Bangladesh-Korea Technical Training Centre at Darussalam Road in Mirpur.
A five-member probe team headed by deputy director Syed Iqbal Hossain questioned them at ACC headquarters
The Anti-Corruption Commission (ACC) Monday questioned three government officials in connection with the embezzlement of Tk11.1bn from the state owned Janata Bank and five commercial banks by Bismillah Group.
A five-member probe team headed by deputy director Syed Iqbal Hossain questioned them at ACC headquarters.
Officials alleged that asking for the new information is nothing but a strategy to delay the process
Implementation of separate pay scales for Bangladesh Bank and three state-owned commercial banks (SOBs) is facing a setback due to a fresh bureaucratic scrutiny.
The secretaries’ committee, responsible for examining the proposal and recommend the government, during last three months sought different information about salaries and allowances the employees of the banks currently enjoy.
The Foreign Policy magazine has put Dr Mahbub Hossain, the executive director of the NGO, BRAC, among its list of 500 most influential people in the world.
The magazine’s website explains the list, which they call the FP Power Map, as their “inventory of the people who control the commanding heights of the industries that run the world, from politics to high finance, media to energy, warfare to religion”.
The special relief fund will be created separately to help victims of the tragic incident
A special fund to be contributed by the country’s banks and financial institutions will be formed in next 15 days to help victims of Savar building collapse that left at least over 380 people killed.
The decision emerged from a meeting of Bangladesh Association of Banks (BAB) and Association of Bankers' Bangladesh (ABB) at Bangladesh Bank yesterday.
The highest interest rate of the approved proposals is six-month LIBOR+4.50% p.a
Bangladesh Bank’s Board of Investment Scrutiny Committee today cleared $25m foreign credit.
The clearance was given at the committee’s 75th meeting held in Bangladesh Bank headquarters in Dhaka, said a statement from the central bank.
BB Governor and the committee’s convener Dr Atiur Rahman presided over the meeting. The committee was formed to approve private sector’s foreign borrowing.
He succeeds Haruhiko Kuroda, who resigned in March
Japan’s Takehiko Nakao has been unanimously elected as president of the Asian Development Bank (ADB) by its board of governors, said an ADB press release.
57-year old Nakao was Japan’s vice minister of finance for international affairs. He will assume office as ADB’s ninth president on April 28.
He succeeds Haruhiko Kuroda, who resigned in March. Nakao will finish the unexpired term of his predecessor, which ends in November 2016.
The move aims ultimately to have banks automatically supply information to a country on the accounts of its nationals
The Group of 20 economic powers yesterday urged the global adoption of standards for sharing bank account information in an effort to fight tax evasion and curtail banking secrecy.
The G20 said they “strongly encourage” all countries to sign on to a commitment to the automatic exchange of banking information “which is expected to be the standard,” in the group’s strongest endorsement yet of a move that takes aim especially at tax havens.
ICBC and China Construction Bank are Nos 1 and 2, ahead of JP Morgan, General Electric and Exxon, last year's biggest firm
For the first time, two Chinese firms have topped Forbes magazine's annual poll of the world's largest companies. The Chinese bank ICBC ousted Exxon Mobil as the world's biggest company, according to the magazine's 10th annual ranking of the world's top 2,000 firms. China Construction Bank bumped JP Morgan out of the second spot.
Bangladesh Bank in association with the commercial banks will host the event
A school banking conference, the first of its kind in Bangladesh, will be held in the city on Saturday.
Bangladesh Bank governor Dr Atiur Rahman will inaugurate the conference, titled ‘First School Banking Conference 2013’, at Bangladesh Bank Training Academy.
BB deputy governor SK Sur Chowdhury and the chief executives of commercial banks will also be present.
The central bank in association with the commercial banks will host the event, said a BB press release on Thursday.