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Fazle Kabir being made new governor

NewsWorld365 - March 15, 2016
fazle kabir

Newsworld Desk: Fazle KabirFormer finance secretary Fazle Kabir is being made new governor of Bangladesh Bank after resignation of Atiur Rahman on Tuesday. Finance minister AMA Muhith confirmed the appointment of the new governor, telling newsmen, “Everything has been finalised (about the appointment).” Fazle Kabir, serving as chairman of the state-owned Sonali Bank, is presently staying in the United States. He is expected to return home on 18 March. The appointment will be made through an official order issued by the public administration ministry, said authorities concerned. Fazle Kabir was appointed finance secretary in 2012 and served there until his retirement […]

Atiur resigns over $100m heist 

NewsWorld365 -
Atiur-rahaman

Newsworld Desk: Bangladesh Bank governor Atiur Rahman finally resigned on Tuesday following controversy over the cyber heist of US$100 million from the central bank’s account with New York’s Federal Reserve Bank. He tendered his resignation after meeting prime minister Sheikh Hasina at Ganabhaban in the morning. Atiur faced criticism not only for the hacking but more so for keeping the government machinery, including the finance minister, in the dark about the incident. The demand for his resignation came from political quarters including the ruling Awami League. He tried to meet the prime minister immediately after his return from India on […]

House Building Corporation to expand easy credit in rural area

NewsWorld365 - July 28, 2015
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Finance Minster AMA Muhith has given consent on Tk500 crore fund supply to Bangladesh House Building Finance Corporation (HBFC) to expand easy home loan facility in rural areas. He singed a summary on Thursday on the financial support from the government’s budget allocation of this fiscal year to the state-run body, said finance division sources. A HBFC official said the potential borrowers had already started lobbying and using political influence to get the loan given on easy terms. But it sparked a fear that the target people who are comparatively much needy might miss the credit facility if such use […]

Atiur for reshaping financial system to support sustainable development

NewsWorld365 - September 29, 2014
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Bangladesh Bank (BB) Governor Atiur Rahman recommended reshaping financial system to support sustainable development, especially in the countries where most of the people urgently require strong intuitional financial support, reports BSS. The governor put forward the recommendation while presetting a paper on “Design of a Sustainable Financial System” at the second advisory council meeting of United Nations Environment Programme (UNEP) in New York, USA on Friday. Atiur, who is also a member of the council, highlighted BB’s engagement in reshaping financial system to support sustainable development in a learning session where experiences of Brazil, China, South Africa and the United […]

Govt to probe Islamic banks’ profit spending

NewsWorld365 - August 14, 2014
islami bank

In an attempt to check militant financing, the government will investigate how Islamic banks and financial institutions spent their profits, said the state minister for home today. “Intelligence personnel have been instructed to look into whether there are any inconsistencies in the statements the banks and financial institutions have made over their profit spending,” Asaduzzaman Khan added. He made the comments emerging from a meeting of National Committee on Militancy Resistance and Prevention at his secretariat office in the capital. Additional Home Secretary Kamal Uddin Ahmed, who attended the meeting, told The Daily Star that Bangladesh Bank presented a report […]

Dissolve Basic Bank’s board of directors :BB

NewsWorld365 - May 29, 2014
Basic

Bangladesh Bank on Thursday sent a letter to the Bank and Financial Institutions Division of the Finance Ministry recommending dissolution of the state-owned Basic Bank for widespread ‘irregularities and corruption.unb Bangladesh Bank governor Dr Atiur Rahman sent the letter addressing the Banking and Financial Institutions Division secretary Dr M Aslam Alam. A copy of the letter was also sent to Finance Minister AMA Muhith. Central Bank officials said the letter was sent as follow-up of the removal of Basic Bank managing director (MD) Kazi Faqurul Islam on May 26 on charge of negligence of duty and irregularities as well as […]

Insurance cos asked to tighten money laundering rules

NewsWorld365 - May 26, 2014
atiur-rahman

The central bank governor Dr Atiur Rahman on Monday asked the anti money laundering cell of insurance companies to strictly comply with rules and monitor the suspicious transactions to prevent money laundering and terrorist financing He also suggested the cell to send the report of suspicious transactions, if any, immediately to the central bank for prompt action. He, however, said money laundering and terrorist financing is not an internal problem, rather it’s a global concern. The governor was addressing a conference on ‘Anti Money Laundering for Insurance Companies’ at a city hotel . Bangladesh Bank (BB) and Insurance Development and […]

BRAC Bank launches home loan for low & middle income people

NewsWorld365 - April 21, 2014
brac

BRAC Bank Limited has introduced an affordable home loan product ‘Nijer Bari’ for the low and middle income group outside Dhaka city. BRAC Bank Limited chairman Sir Fazle Hasan Abed formally launched the product at a program  at the head office recently by handing over the Loan Sanction Letter to the first customer of ‘Nijer Bari’ Suriya Begum. The product will be offered in Comilla, Joydevpur, Narshingdi Sadar, Narayanganj City, Savar, Gazipur, Tongi and Bogra, said a press release. Salaried, self-employed professional or businessmen and landlord will be eligible for the loan for purchase of under-construction/completed/second hand flats/apartments/house or construction/ […]

Informal sector workers ‘to be brought under insurance’

NewsWorld365 - April 15, 2014
insurance

State Minister for Labour and Employment M Mujibul Haque on Tuesday said the informal sector workers will gradually be brought under an insurance system. “All the informal sector workers will be brought under insurance facility in phases as the government is working sincerely for the welfare of workers,” he told a deal signing ceremony. Workers Welfare Foundation and Bangladesh Motor Vehicle Mechanic Workers Foundation signed a memorandum of understanding (MoU) in this regard at the Secretariat today. Workers Welfare Foundation director general Faizur Rahman and president of Bangladesh Motor Vehicle Mechanic Workers Foundation Mahbubur Rahman Ismail signed the MoU on […]

Judicial body formed to probe irregularities by bank chief executives

NewsWorld365 - April 6, 2014
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Amid growing irregularities in the banking sector, Bangladesh Bank on Sunday formed a four-member judicial committee to investigate alleged irregularities by the chief executives of commercial banks and recommend punitive actions against those to be found guilty. The judicial committee has been formed with central bank deputy governor Nazneen Sultana as its head, BB general manager AFM Asaduzzaman said. He said BB governor Dr Atiur Rahman approved the committee formation on Sunday. The other members of the body are BB executive directors M Ahsan Ullah, Ahmed Jamal and general manager of the Banking Regulation and Policy Department (BRPD).  The fourth […]

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