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Tag Archives: Banking

Mobile banking suspended for a day at EC’s request

Bangladesh Bank on Monday ordered the suspension of all mobile banking transactions from 5pm today (Monday) to 5pm Tuesday upon a request from the Election Commission (EC). Though the central bank earlier directed the institutions concerned to limit transactions through mobile financial services within Tk 1,000 with immediate effect, the EC suggested suspension of such transactions fully till 5pm Tuesday ... Read More »

IBBL board of directors meeting held

A meeting of the Board of Directors of Islami Bank Bangladesh Limited was held at the Board Room of Islami Bank Tower on Saturday . Engr. Mustafa Anwar, Chairman (Acting) of the Bank presided over the meeting. Local and foreign Directors along with Mohammad Abdul Mannan, Managing Director of the bank were present in the meeting. Read More »

7 former Oriental Bankers convicted for loan scam

A Dhaka court on Monday sentenced seven former officials of Oriental Bank to 10 years’ imprisonment with a fine of Tk one crore ninety lakh in a loan scam case. Judge Hosne Ara Begum of Dhaka’s Special Judge Court-2 pronounced the verdict on Monday afternoon in absence of the convicts. The court directed them to pay fine equally. Read More »

China blocking North Korea’s entry to int’l bank

China blocking North Korea entry to int’l bankChina is not allowing North Korea to become a member of the newly established Asian Infrastructure Investment Bank (AIIB), sources told the financial news site Emerging Markets. The new bank, proposed by the government of China, aims to provide finance for infrastructure projects in Asia. It currently has 45 founding members, including numerous ... Read More »

Khaleda summoned in son late Koko’s loan default case

A Dhaka court on Sunday summoned BNP Chairperson Khaleda Zia, late Arafat Rahman Koko’s wife and his two minor daughters to appear to the court in the case filed for the default loan of Dandy Dying Limited on April 12. Judge-in-Charge Ruksana Parvin Happy of Dhaka’s Money Loan Court-1 (Artha Rin Adalat-1) passed the order in the afternoon in response ... Read More »

‘Regional river basin management must to address water scarcity’

Water experts on Sunday urged the government to strengthen cooperation with neighbouring countries to address the future water demand as water scarcity is growing in the South Asia region. “It’s imperative to have a regional cooperation for river basin management, targeting food and energy security, environmental sustainability and adaptation to climate change,” IWM deputy executive director Abu Saleh Khan told ... Read More »

IBBL Board suggests 15 pc dividend for 2014

The Board of Directors of Islami Bank Bangladesh Limited (IBBL) has recommended a 15 percent cash dividend for the shareholders for the year 2014 subject to approval at the 32nd Annual General Meeting of the bank. This was decided in a meeting of the Board held at Islami Bank Tower on Saturday with its acting Chairman Engineer Mustafa Anwar in ... Read More »

IBBL Shariah Supervisory Committee meeting held

A meeting of the Shari’ah Supervisory Committee of Islami Bank Bangladesh Limited was held on Thursday at Islami Bank Tower. Sayeed Ahmad, Vice Chairman of the Committee and Mufti of Al Jamiatus Siddikiah Darul Ulum (Madrasha-e-Furfura Sharif) presided over the meeting. The meeting was attended by Md. Abdur Rakib, Former Executive President of Islami Bank, Abdus Shaheed Naseem, President, Bangladesh ... Read More »

IMF Mission conducts research seminar at BB

The members of the IMF Mission presented several research papers on lending rates in Bangladesh, trade elasticity, inflation and economic activities in Bangladesh on March 9, 2015 at Bangladesh Bank Head Office. Chief Economist’s Unit of Bangladesh Bank organized the seminar. Mr. Souvik Gupta and Mr. Sohrab Rafiq of the IMF mission presented the papers. Read More »

The poor man’s economist

By Jonathan Meaney, staff writer at The Worldfolio The central bank governor of Bangladesh Dr. Atiur Rahman has been lauded for his contribution towards promoting socially and environmentally responsible financing in Bangladesh without compromising macroeconomic stability. The perception of bankers has been severely tarnished as a result of the financial crisis. To many the word ‘banker’ could conjure up an ... Read More »

IBBL, Accuity sign deal for anti-money-laundering compliance

Islami Bank Bangladesh Limited and Accuity, an UK based Anti-money Laundering (AML) compliance solutions provider signed an Agreement on March 1, 2015 at Islami Bank Tower in Dhaka to formally acknowledge the successful implementation of Accuity’s Compliance Link solution for Islami Bank’s entire national branch network (294 branches). The implementation enables the holistic management of real-time screening and compliance programs ... Read More »

Governor Dr. Atiur Rahman receives The Banker award

Bangladesh Bank Governor Dr. Atiur Rahman received the ‘Central Bank Governor of the Year- Asia Pacific, 2015’ award by the London-based Financial Times owned magazine, ‘The Banker’ for his significant contribution towards promoting socially and environmentally responsible financing in Bangladesh without compromising macroeconomic stability. Chief Editor of The Banker, Brian Caplen presented the award over a ceremony held in the ... Read More »

Muhith slams Islamic banking, finds it ‘fraudulent’ but popular

Criticising the perception of Islamic banking, Finance Minister AMA Muhith on Sunday termed it ‘fraudulent’ one set up on ‘wrong perception’. Responding to a question from Habibur Rahman Mollah (Dhaka-5) in parliament, he said, “The system appears to me absolutely fraudulent one.” The Finance Minister, however, admitted that Islamic banking model has become popular around the world and many world-class ... Read More »

For high quality of corporate governance

Dr Atiur Rahman Attaining high quality of corporate governance is important for creating and maintaining investor confidence in corporate businesses and much more so for banks as they are highly leveraged and engaged in risk bearing investments with depositors’ funds in a fiduciary role. The 2008-2009 global financial crisis is still vivid in memory as example of corporate governance failures ... Read More »

IBBL board meeting held

A meeting of the Board of Directors of Islami Bank Bangladesh Limited (IBBL) was held at the Board Room of Islami Bank Tower on Saturday. IBBL acting Chairman Engineer Mustafa Anwar presided over the meeting. Local and foreign directors along with Managing Director Mohammad Abdul Mannan and Pro-vice chancellor of International Islamic University, Chittagong and Member Secretary of Shariah Supervisory ... Read More »

Banks need prior approval for foreign outsourcing of work

Any outsourcing outside Bangladesh will require prior approval of  Bangladesh Bank under Section 12 of the Bank Company Ain, 1991 regardless of the fact that the specified functions is conducted by or data is provided to an unrelated third party or any office of the banking company, its holding or subsidiary company or any of its affiliates. However, sharing of ... Read More »

BB lifts restrictions on setting up ATMs

The Bangladesh Bank (BB) on Tuesday lifted the restriction on installing electronic banking booths including ATMs (automated teller machines). Issuing a circular, the central bank suggested to all banks that they would no longer require to seek BB’s permission to set up any electronic banking booths including the ATMs. Read More »

IBBL business development conference being held in Dhaka

A 2-day Business Development Conference of Islami Bank Bangladesh Limited which began at a city hotel on Saturday is now is progress. Engr. Mustafa Anwar, acting chairman of the bank, was present as the chief guest in the inaugural ceremony of the conference. Mohammad Abdul Mannan, Managing Director of the bank, presided over the programme. Read More »

Banks asked to assess terror financing risks in three months

The banks in Bangladesh were on Thursday issued guidelines to assess risks of money laundering and terrorist financing in their operations, and were given by three months to complete such assessment 31 March. The output of this assessment will be used as core risk assessment guideline, the central bank said in a press release on Thursday. A press release issued ... Read More »

Efficient, IT-based banking must of stability: BB Governor

Bangladesh Bank Governor Dr. Atiur Rahman on Thursday inaugurated an online payment gateway of Bank Asia and Payonees in Dhaka. Given below is part of the statement he made at the function: I am happy to see Bank Asia, one of the pioneers of Online Payment Gateway Service (OPGS), partnering with ‘Payoneer’ to facilitate online payments in Bangladesh. I believe ... Read More »

London paper awards Atiur ‘Central Banker of the Year’

Bangladesh Bank (BB) Governor Atiur Rahman has been awarded the “Central Banker of the Year 2015” for the Asia-Pacific. The Banker, a magazine of the London-based Financial Times, announced the award on Monday. Dr Atiur received the award for his extraordinary contribution to the country’s economy, with maintaining stability, endeavoring inclusive banking, green banking and corporate social responsibility (CSR) activities. ... Read More »

IBBL Shariah committee meeting held

A meeting of the Shariah Supervisory Committee of Islami Bank Bangladesh Limited was held on Tuesday at Islami Bank Tower in the city. Mufti Sayeed Ahmad, Vice-chairman of the committee and Mufti of Al Jamiatus Siddikiah Darul Ulum (Madrasha-e-Furfura Sharif), presided over the meeting, said a press release. Read More »

Islami Bank opens 294th branch at Kapasia

Islami Bank Bangladesh Limited opened its 294th  Branch at Kapasia Bazar in Gazipur on Sunday. Humayun Bokhteyar, ACPA, FCA Director of the Bank inaugurated the branch as the chief guest. Mohammad Abdul Mannan, Managing Director of the Bank, Khandakar Azizur Rahman Pera, Upazila Chairman, Kapasia were present on the occasion as special guests. Read More »

Interest rate on agriculture, rural credits lowered

The interest rate on agriculture and rural loans has been lowered to 11 percent from 13 percent, under a Bangladesh Bank directive. A circular issued by the Banking Regulation and Policy Department (BRPD) of the central bank said that the rate has been lowered considering the downward trend in bank loans and deposits. Read More »