Rupali Bank Ltd declares 15% stock dividend

Rupali Bank Ltd has declared 15% stock dividend to its shareholders in the 29th Annual General Meeting yesterday at Institute of Diploma Engineers auditorium in the Capital. On the program Banks Chairman Manzur Hossain was the Chief guest. Rupali Bank Limiteds Manging Director, M. Farid Uddin,    Additional Secretary Banking & Finance division, Md. Fazlul Haque, Banks Directors Mohiuddin   Faruqui, Prof. Hasibur Rashid, Barrister Zakir Ahammad, A. K. M. Delwer Hussain, Dr. Sushil Ranjan Howlader were also present on the occasion. (Source: press release)

United Commercial Bank organizes seminar on Export Development Fund

United Commercial Bank Limited (UCB) organized a seminar for creating awareness to increase use of Export Development Fund (EDF) on 30 May 2015 at the Corporate Head Office of the Bank. The seminar was attended by Mr. Muhammed Ali, Managing Director, UCB; Mr. Kazi Sayedur Rahman, General Manager, FRTMD, Bangladesh Bank; Mr. Mirza Mahmud Rafiqur Rahman, Additional Managing Director, UCB; Mr. Chowdhury Mohidul Haque, Head of Learning & Development Center, UCB and other senior officials. (Source: press release) 

Pragati Life Insurance Limited Signs Group Insurance Deal with CEAT AKKHAN LTD

Pragati Life Insurance Limited has signed Group Insurance contract with CEAT AKKHAN LTD.  Md. Jalalul Azim, CEO of Pragati Life Insurance Limited and Jyotibrata Banerjee, Managing Director of CEAT AKKHAN LTD. have signed the contract on behalf of their organization to provide life insurance coverage to five thousand drivers of commercial vehicle.

Shibu Zachariah Thomas, Head of Plant, Shahadat Hossain Chowdhury, Head of Finance & Company Secretary, Md. Mahbubur Rahman, Head of Marketing of CEAT AKKHAN LTD. and Chandra Shekhar Das, FCA, Deputy Managing Director (F&A); Md. Rafiqual Alam Bhuiyan, Senior GM of Pragati Life Insurance were present at the signing ceremony. (Source: press release)

ONE Bank Limited arranges training programme on “Prevention of Money Laundering and Combating Terrorist Financing”

ONE Bank Limited arranged a Training Program on “Prevention of Money Laundering and Combating Terrorist Financing” on May 30, 2015 at the LGED Auditorium Hall, Chittagong. More than 320 employees of 19 branches of OBL Chittagong Zone attended this training program.

Mr. Md. Fazlur Rahman Chowdhury, SEVP & Head of South Zone of the Bank delivered his welcome speech. Ms. Rehena Begum, General Manager (In-Charge), Bangladesh Bank delivered her vital speech as a Chief Guest and Ms. Johora Bebe, Deputy Managing Director and Chief Risk Officer & Chief Anti money Laundering Compliance Officer also spoke on the occasion. 

In the training program, a discussion on BFIU master circular no. 10 & Mutual Evaluation of Bangladesh by APG on AML & CFT activities took place elaborately covering different phases, nature, technique and possible Money Laundering prevention in the  present context . Trainees were advised to analyse daily transactions, check KYC & TP when filling up the forms for new accounts, prepare CTR & STR and to be more careful about different documents and information provided by the customers. Mr. Asim Kumar Chowdhury, Joint Director, Bangladesh Bank and Mr. S. M. Hafizur Rahman, SVP & Head of Training, ONE Bank Limited along with high officials of both organizations attended theTraining Program. (Source: press release)

Bangladesh Custom Intelligence seizes 200 tablet computers

Custom Intelligence (CI) seized 200 pieces of Tablet computer at Hazrat Shahjalal international airport Monday morning.

Acting on a tip-off, a CI team conducted a drive at the airport this morning and recovered the tablet computers in 13 cartoons which arrived at the cargo section by flight ‘EK586’ on May 4, said assistant director of the Customs Intelligence and Investigation Directorate Umme Nahida.

The Huawei branded computers were made in China and shipped from Hong Kong came by Midline Express Courier service to the address of UCC Technology Ltd, Dhaka, she said.

The computers worth Taka 50 Lakh seized in violation of the import policy order, she added. (Source: BSS)

CPD calls for financial reforms to boost growth in Bangladesh

Centre for Policy Dialogue (CPD) on June 1 said despite the hartals and countrywide blockade, Bangladesh is closing its financial year 2014-15 (FY15) with a number of microeconomic advantages.

The civil society think-tank in its quarterly report on “Bangladesh Economy: FY15” released on Monday at a press conference at CIRDAP auditorium opined the country may bring some massive reforms in the upcoming fiscal taking the advantages of lower inflation, declining interest rate, stable exchange rate, manageable fiscal deficit, positive balance of payment, foreign exchange reserve and low level of global commodity prices.

“If the government carry-out substantial reforms in policy levels in the upcoming fiscal utilizing the stability of the economy, Bangladesh can easily move out from the average 6 per cent plus GDP growth,” said Dr Debapriya Bhattacharya, Distinguished Fellow of CPD.

He also stressed for political harmony for the sustainable economic growth of the country.

The CPD made the report under its Independent Review of Bangladesh’s Development (IRBD) Programme.

The think tank body recommended for forming five independent commissions for statistical, agriculture price, local government financing, public expenditure review and financial sector reform towards better macroeconomic management.

It also advocated for expediting the reform agendas such as public services act, PPP act, privatization, financial reporting act and others, which are being remained stalled.

Commenting on tax reform, Debapriya Bhattacharya said: “Boosting of tax revenue collection without institutional reform is not possible, rather the exercise of traditional style would impose more burdens on tax payer.”

He also opted for imposing of “inheritor tax” saying a person who doesn’t do any work should not be successor of any property without any tax.

The CPD distinguished fellow also urged the government to formulate a law regarding black money. “If there is any law about it, there will be a continuation of whitening the black money and regular scope of mainstreaming the undisclosed earning,” he added.

About the “fast tracked projects”, the CPD said out of six projects, four is on track and would be successful while the status of another two is conditional.

Replying to a query, Professor Mustafizur Rahman, Executive Director of CPD, put emphasis on increasing investment and productivity to attain the goal of “Vision-2021” envisaged by the government, as the country is still far behind of attaining the desired GDP growth.

He also suggested the government to ensure the maximum utilization of resources for highest outcome. (Source: BSS)

36th BCS exam circular published

The Bangladesh Public Service Commission on June 1 published a circular of 36th Bangladesh Civil Service (BCS) examination against 2108 posts.

The online application fill-up and fee submission will begin from 10am of June 14 and continue to 6pm of July 23.

The notice signed by BPSC examination controller AIM Nesar Uddin has been published at the website of commission on June 1.

Some 542 officers will be recruited for general cadres and 740 for professional or technical cadres. Besides, 871 will be recruited in the education category. (Source: BSS) 

Pedrollo NK Ltd launches new collaboration with SAER ELETTROPOMPE

A New Collaboration was launched between the world famous, 60 years experienced, Italian Company-SAER ELETTROPOMPE S.p.A. and PRAGATI CORORATION, a sister concern of Pedrollo nk Ltd. at Hotel LakeShore, Dhaka and at Radisson Blu, Chittagong on 31st May & 1st June 2015 respectively.

Many high-end users of pumps from Govt., Semi govt., commercial and Industrial sectors were present in the ceremony. Export Manager, Mauro Favella & Middle East Export Manager, Mustapha Nasser from SAER, Managing Director Mr. Nader Khan, Director Mr. Imran Khan & COO Mr. Adil Sarkar of Pedrollo nk Ltd. attended the launching ceremony.  Italian Ambassador Mr. Mario Palma was also present in the ceremony.

Pragati Corporation, a sister concern of Pedrollo nk Ltd. under PNL Group having 30yrs of experience in pumps and water management in Bangladesh now becomes the sole distributor of SAER in Bangladesh. Pragati Corporation with the new collaboration with SAER Elettropompe is now able to meet the growing demand of specialized pumps in commercial, industrial, agriculture sectors. SAER is the company being dealt with for reliability in more than 120 countries all over the world. (Source: press release)

Mercantile Bank Limited to celebrates 16th anniversary

Mercantile Bank Limited organized a press conference on May 31, 2015 at  National Press Club on the occasion for celebration of its 16th founding anniversary.

Chairman of the Bank Mr. Morshed Alam, M.P., Newly elected Chairman of the next Board of Directors Mr. Al-Haj Akram Hussain (Humayun), Vice Chairman- Mr. A. S. M. Feroz Alam, Vice Chairman-Mr. M. S. Ahsan, Directors- Mr. Mr. M. Amanullah, Mr. Md. Abdul Hannan, Mr. Mohd. Selim, Mr. A.K.M. Shaheed Reza, Shareholder Mr. M A Khan Belal and  Senior executives of the Bank were present on the Press Conference.

Chairman of Mercantile Bank Limited presented the list of 09 virtuous persons and 02 organizations nominated for the Mercantile Bank Achievement Award-2015.

Chairman of the Bank Mr. Morshed Alam, M.P., Newly elected Chairman of the next Board of Directors Mr. Al-Haj Akram Hussain (Humayun) and Vice Chairman-Mr. M. S. Ahsan delivered their speech on the Press Conference.

Managing Director and CEO of the Bank Mr. M Ehsanul Haque delivered welcome speech.

The list for the Mercantile Bank Award-2015:

•           Professor Shamsuzzaman Khan – Education

•           Professor A K Azad Khan – Medical

•           Major General C.R. Datta (Ret.), Bir Uttom – Freedom Fighter

•           Dr. Mirza Azizul Islam – Economic & Economics Research

•           Hayat Mamud –Bangla language and literature

•           Mujibul Haider Chowdhury– Banking

•           Abed Khan- Journalism

•           Partha Pratim Majumder - Culture

•           Mohammad Mushfiqur Rahim – Sports

•           Bangladesh Agricultural University - Agricultural research and development and

•           BSRM Group of Companies - Industry and Trade

After inception of the Bank “Mercantile Bank Foundation” was formed. The Foundation introduced Achievement Award since 2002 for virtuous personnel throughout the country for their special contribution in various fields utilizing a part of the bank’s profit. These virtuous personnel will be awarded gold medal, cash and a crest as recognition. Chairman of the bank Mr. Morshed Alam, M.P. said that, the Mercantile Bank Foundation during its inception out of obligation for the society and its people. Every year, 1 percent of the profit or BDT 40 lakh (whichever is higher), is donated to the foundation. The fund of this foundation is being used to help the distressed, flourish education and talent and for the development of sports.” He also said, “Mercantile Bank Foundation is strongly dedicated for the development of the society along with ensuring advancement of the people through its banking services.”

The 16th anniversary celebration will be held at Pan Pacific Sonagaon Hotel, Dhaka tomorrow (June 1, 2015) where the listed virtuous personnel will be awarded with the Mercantile Bank Achievement Award 2015 by the Chief Guest of the event Honorable Commerce Minister of the Government of the Peoples Republic of Bangladesh Mr. Tofayel Ahmed.

After the Press Conference, a voluntary Blood Donation program was arranged in the Bank’s Premises in association with the Bangladesh Thalassaemia Hospital. (Source: press release)