bKash provides 30,000 books to Bishwo Shahitto Kendro Book Reading Program

bKash Limited, the leading mobile financial service provider in the country, has provided around 30,000 books to Bishwo Shahitto Kendro to facilitate its ‘Nation-Wide Enrichment Program’, a book reading program for students.

The books will be used for facilitating reading program in 400 schools with a target to reach around 30,000 students each year. The book reading program is designed for the students of class VI to X.

In this connection, Bishwo Shahitto Kendro in association with bKash today inaugurated the book reading program at the Ideal School and College at Motijheel in the city. 

Minister for Civil Aviation and Tourism, Rashed Khan Menon MP inaugurated the book reading program as the Chief Guest while Kamal Quadir, Chief Executive Officer of bKash handed over the books to Abdullah Abu Sayeed, founder Chairman and Chief Executive of BSK. Senior officials of both the organizations were present at the program. 

Addressing the program, Rashed Khan Menon said the students in schools have grown the habit of reading since Bishwo Shahitto Kendro started its book reading campaign.  He hoped this great initiative of Bishwo Shahitto Kendro would continue for years and would bring a positive change in the society.

Kamal Quadir said the Bishwo Shahitto Kendro has been playing an instrumental role for the last 36 years in bringing a silent revolution in the habit of reading. He said bkash is proud to be associated with this noble organization to spread the reading habits among students.

Abdullah Abu Sayeed thanked bKash for providing the books and said support from organizations like bKash is very important for Bishwo Shahitto Kendro to carry out its initiative on building a society based on knowledge and enlightenment.

In 2014, bKash also provided 34,000 books to Bishwo Shahitto Kendro’s book reading program for students. 

Launched in 2011, bKash, a joint venture of BRAC Bank, US based Money in Motion, World Bank’s  International Finance Corporation and Bill and Melinda Gates Foundation, offers complete mobile financial services to the common people of Bangladesh. (Source: press release)

Modhumoti Bank opens 12th branch at Dhaka’s Keraniganj

Modhumoti Bank Limited inaugurated its 12th branch at Aganagar, Keraniganj on Thursday, 14th May, 2015. Mr. Humayun Kabir, Chairman of the Board of Directors of Modhumoti Bank Limited (MMBL) inaugurated the branch as Chief Guest. Barrister Sheikh Fazle Noor Taposh MP, Chairman, Executive Committee of MMBL was present as Special Guest. Among the Sponsors of Bank Md. Shawkat Ali Bhuiyan was present in the occasion. Managing Director  & CEO of the Bank Md. Mizanur Rahman presided over the ceremony. Additional Managing Director Md. Shafiul Azam, other high officials of the Bank and local elites were present over the ceremony. (Source: press release)

Prime Bank visits project site at Habiganj

Prime Bank Limited as lead arranger & agent of the Syndication Finance of Star Ceramics Ltd. arranged a lenders' visited program to the project site at Habiganj on 14 May.

During the visit program senior executives of participating lenders i.e. Mutual Trust Bank, Trust Bank, The City Bank, Mercantile Bank, NCC Bank, SABINCO, ONE Bank, Meghna Bank and Prime Bank were present. (Source: press release)

LankaBangla Finance, VIVID Global Connect sign deal for 0% instalment facility

LankaBangla Finance Ltd. (LBFL) recently signed a Memorandum of Understanding (MOU) with VIVID Global Connect Limited for its customer privilege. Under this MOU, LankaBangla MasterCard & VISA Cardmembers will enjoy installment facility @ 0% under “ezypay” scheme. Khurshed Alam - Head of Retail Finance of LBFL & Quamrul Huda - Managing Director signed the MOU for their respective organizations. Mir Shafiqul Islam- Credit Card Head, Khandakar Shazzad Hossain- Relationship Sr. Officer of LBFL and other officials of both organizations were present at the signing ceremony. (Source: press release)

Keya Cosmetics Ltd holds 18th AGM

Keya Cosmetics Ltd held its 18th AGM (annual general meeting) at Konabari in Gazipur on May 16, 2015.

Keya Cosmetics Ltd chairman Abdul Khalek Pathan presided over the AGM.

The AGM approved 20 per cent stock dividend for the shareholders. (Source: press release)

Al-Arafah Islami Bank Limited opens 120th Branch at Sherpur, Bogra

Al-Arafah Islami Bank Ltd. Has opened its 120th branch at Dhunot Mor, Sherpur, Bogra. Director & Vice Chairman Board Executive Committee of the Bank Alhajj Abdul Malek Mollah inaugurated the branch as Chief Guest while Managing Director Md. Habibur Rahman presided over the ceremony.

Head of AIBL Bogra Zone Md. Abul Basher delivered the welcome speech. The occasion was addressed by prominent businessmen Md. Rezanur Sohel, Alhajj Md. Bashir Uddin and Managing Director of Mazumdar Products Ltd. Chitta Mazumdar. Among others Senior Vice President Engr. Md. Habib Ullah and Assistant Vice President Jalal Ahmed were present in the inauguration. A large number of local peoples, businessmen, clients and well-wishers participated on the ceremony. Manager of the branch A. B. M. Abdul Baten thanked the audience.

Chief Guest of the ceremony Director Alhajj Abdul Malek Mollah said Al-Arafah Islami Bank Ltd. was established not for making profit by doing business but for the welfare of the society. Managing Director Md. Habibur Rahman, in his speech, invited all to have the blessings of Islamic banking service. He also said, only Islamic banking system can boost-up the economy of the country. (Source: press release)

AB Bank approves 12.5% stock dividend

AB Bank Limited approved 12.5% Stock Dividend for its shareholders at the 33rd Annual General Meeting (AGM) of the Bank held on May 17, 2015 (Sunday) at the Bashundhara Convention Centre-2, Dhaka. The AGM approved the Annual Report and the Audited Financial Statements of the Bank for the year ended 2014.

Earlier an Extra-Ordinary General Meeting (EGM) of the Bank was held on the same day at 9.00 am at the same venue. A Special Resolution was approved in the EGM for issuance of ‘AB Bank Subordinated Bond-II’ of BDT 400.00 crore for raising Tier-II Capital subject to approval of the concerned Regulatory Authorities. 

AB Bank Limited completed its 33rd year of successful banking on April 12, 2015. Net Asset Value (NAV) stood at Tk.1,876 crore in 2014 which is 8% higher than 2013. Total Asset of the Bank stood at Tk.25,681 crore at the end of 2014 reflecting a growth of 22% over last year.

The 33rd AGM was presided over by the Chairman of the Bank, Mr. M. Wahidul Haque. Other Directors and the President & Managing Director Mr. Shamim A. Chaudhury were also present. A good number of shareholders, patrons and well-wishers attended the Annual General Meeting. (Source: press release)

Standard Chartered Bank signs exclusive agreement with Samsung Mobile Bangladesh

Standard Chartered Bank, the leading international bank in Bangladesh has recently signed a Memorandum of Understanding (MoU) with Samsung Mobile Bangladesh. Under this MoU all Standard Chartered Bank VISA, MasterCard credit card holders will enjoy InstaBuys at 0% Interest for 12 EMI and also get 10% cash back when they purchase Samsung Galaxy S6.

The latest flagship device from Samsung, the Galaxy S6 is priced at BDT 69,900 and is available at retail outlets of Samsung Mobile across the country. This offer will be valid till 09 June 2015.

On this occasion, Mr. Shafquat Hossain, Head of Retail Products & Segments, Standard Chartered Bank said, “We are very proud to be associated with Samsung Mobile Bangladesh. This is a very exciting deal that we have signed with them. At Standard Chartered we constantly endeavour to create new value proposition for our customers.”

Mr. Choon Soo Moon, Country Manager, Samsung India Pvt Ltd. – Bangladesh Branch Office said, “Both Samsung and StanChart are willing to work together to provide the best customer experience with Samsung’s most advanced technology and StanChart’s flexible payment solutions. With StanChart as our strategic partner, we are very hopeful that together we can serve our customers better.”

Caption: Mr. Shafquat Hossain, Head of Retail Products & Segments, Mr. Mohammad Razimul Haque Razim, Sr. Manager, Alliances and other official of Standard Chartered Bank along with Mr. Choon Soo Moon, Country Manager, Mr. Young Woo Lee, General Manager, Mr. Hasan Mehdi Head, Mobile business and other official of Samsung Mobile Bangladesh, were present at the signing ceremony held at Standard Chartered Bank Head Office. (Source: press release)

Heat wave sweeping over Bangladesh

Mild to moderate heat wave is sweeping over Khulna and Rajshahi divisions and the regions of Dhaka, Mymensingh, Madaripur, Sayedpur, Barisal and Patuakhali and it may continue as a mild heat wave at some places.

Rain or thunder showers accompanied by temporary gusty wind is likely to occur at one or two places over Rajshahi, Rangpur, Dhaka and Sylhet divisions and the regions of Comilla and Noakhali, said a Met bulletin on Friday.

The weather may remain mainly dry with temporary partly cloudy sky elsewhere over the country.

Day and night temperature may fall slightly over the country.

Today’s highest temperature 38.2 degrees Celsius was recorded at Satkhira and the lowest 23.2 degrees at Sylhet.

The sun sets today at 6.34 pm and rises at 5.16 am tomorrow in the capital. (Source: BSS)

Seven detained with 5 lakh Yaba tablets in Chittagong

Rapid Action Battalion (RAB)-7 recovered 500,000 Yaba tablets worth about TK 20 crore and detained seven drug traders from a fishing trawler ‘MV Hena’ at the outer anchorage of the port early Thursday.

RAB claimed this is the largest seizure of Yaba tablets in recent time.

The arrested drug traders were identified as Mohammad Hannan, 40, Mohammad Osman, 23, Mohammad Rasel, 33, Mohammad Waliullah, 21, Mohammad Ilias, 18, Mohammad Reaj, 19, and Mohammad Lockman, 33.

RAB-7 commander Lt Col Mifta Uddin in a press briefing said that based on information a team of RAB halted the fishing trawler, ‘MV Hena’, at 12.30 am on Thursday.

“After searching the trawler we found 500,000 contraband Yaba tablets, concealed in water barrels which were smuggled from Myanmar,” he added.

Mifta said Yaba tablets are loaded on to the trawlers near Sitar Matha of St. Martins Island and the consignment was to be passed on to another trawler in Chittagong.

But the RAB team caught them before transferring Yaba tablets, he added.

Mifta said the detained are being interrogated to find out others of the gang , especially the ring leader.

The approximate value of the tablets is TK 20 crore, he added. (Source: BSS)

Bangladesh GDP growth calculated at 6.51pc

Country’s GDP growth in the current 2014-15 fiscal year has been calculated at 6.51 per cent, which is below the government’s expectation of 7 per cent.

“We were optimistic of achieving 7 per cent GDP growth in the fiscal, but finally it has reached at 6.51 per cent due to violent politics, arson and vandalism during the countrywide blockade and hartal in January-March period unleashed by the BNP and its allies,” Planning Minister A H M Mustafa Kamal told reporters on Thursday after the meeting of the National Economic Council (NEC) at NEC Conference Room in city’s Sher-e-Bangla Nagar.

Terming the 6.51 per cent growth “not bad”, Kamal said “Bangladesh is one of the four countries who have been maintaining over 6 per cent GDP growth for the last few years.”

He extended his heartfelt thanks to the people of all spheres and all concerned stakeholders including those of the private sector for helping the country to achieve such growth rate. The overall size of the GDP at current price for the FY15 stood at Taka 15,13,599 crore. The planning minister said contribution of the Agriculture sector to the GDP in the current fiscal stood at 15.59 per cent while the share of the industry sector totaled 27.98 per cent and the share of the services sector reached 56.42 per cent. The agriculture sector in the current fiscal registered 3.4 per cent growth while industry sector 9.60 per cent and service sector 5.83 per cent.

The Planning Minister said investment ratio to GDP in the current fiscal rose to 28.98 per cent which was 28.58 per cent in the previous fiscal, with rising trend in both public and private sector investment.

He expressed satisfaction with the per capita income for Bangladesh in the outgoing fiscal year (FY15) rose to US$ 1344 which was US$ 1190 in the previous fiscal year. Besides, considering per capita income in nominal price, the position of Bangladesh is 58^th in the world while considering purchasing power parity, the per capita income of Bangladesh stood at US$ 3,190 in the current fiscal leaving the country’s position to 36^th in the world, added Kamal.

He also hoped that overall inflation rate would come down in the coming days.

Bangladesh’s GDP growth was hovering around 6 per cent over the last couple of years since the GDP growth at constant price in FY 10 was 5.57 per cent that rose to 6.46 per cent in FY11 and 6.52 per cent in FY12.

The GDP growth rate in Bangladesh in FY13, however, came down at 6.01 per cent followed by 6.12 per cent in FY14. (Source: BSS)

Bangladesh signs CEP agreement with Iran

Cultural Exchange Programme (CEP) agreement has been signed between Bangladesh and Iran for the period of 2015-2018 at the Iranian cultural affairs minister’s office in Tehran recently.

Cultural Affairs Minister of Bangladesh Asaduzzaman Noor and his Iranian counterpart Ali Jannati signed the agreement on behalf of their respective countries, a press release of Cultural Affairs Ministry said here today.

Bangladeshi High Commissioner to Iran Khandkar Abdus Sattar was present on the occasion.

Under the agreement, the two countries will work together in different cultural related issues like organising book fair, meeting, seminars, exhibition and sending delegation. (Source: BSS)

Bangladesh Bank suggests focusing more on financial discipline

Bangladesh Bank (BB) required focusing more on regulatory framework, articulated strategy and greater integration of financial inclusion (FI) initiatives for ensuring better financial discipline and investment climate.

The suggestions came at an international seminar where financial market experts and economists from local and international organisations discussed on a keynote paper on ‘Challenges of price stability, growth and employment in Bangladesh: Role of Bangladesh Bank’.

The major recommendations also included streamlining of current policy with increasing attention to greater competition and confidence in banking and financial sector, strengthening transmission mechanisms for a dependable policy rate, integrating FI initiatives and developing secondary market for enhanced role of interbank rates and transactions.

Bangladesh Bank (BB) in association with International Labour Organisation (ILO) organised the seminar at the central bank’s headquarters in the capital city. ILO analyst Dr. Muhammed Muqtada presented the keynote.

In the keynote paper Dr. Muqtada noted that Bangladesh is among very few countries where commercial banks have an explicit development objective with major focus on price stability and inclusive growth.

But, there were some areas and issues those warrant further attention so BB could play its role effectively in pursuing developmental objectives besides carrying out its traditional functions.

Addressing the inaugural session of the seminar, BB Governor Atiur Rahman said like some other developing economies BB had been trying to address the risks of instabilities and imbalances at sources, by promoting socially responsible inclusive and environmentally sustainable institutional ethos in financing.

ILO Country Director Srinivas Reddy, Employment and Labour Market Policies Chief at the ILO headquarters Iyanatul Islam and BB chief economist Biru Paksha Paul also spoke at the inaugural session.

Dr Rahman said BB’s sustained motivation and policy support in promoting inclusive and green financing are paying off well for the economy, in terms of sustained stable six-plus percent real annual GDP growth, with downtrend in inflation.

He said BB’s focus on financing for crops, vegetables, dairy, poultry, fishery have yielded substantial output gains in these areas, including self sufficiency in rice and exportable surplus in many agricultural produces.

“BB’s monetary and financial policy stances for stimulation of output and employment have helped the economy attain a stable growth with strong gains in price stability, macroeconomic strength and external sector viability”, the governor said.

Srinivas Reddy said that safety and standard of 75 percent of the garment factories improved against the backdrop of tragic Rana Plaza building collapse.

But, he pointed out that skill development of young workforces and garment workers still remained a major challenge to development and economic progress. (Source: BSS)