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November 10, 2022 - Sharfuddin Iqbal, Chief Commercial Officer (CCO) of Swish Global, inaugurates its first shower enclosure with smart door technology at a function held at Bangabandhu International Conference Centre (BICC) on Tuesday. Other senior officials of the company were present.
November 10, 2022 - Coca-Cola (BD) gets new MD
November 10, 2022 - Zabed Amin, DMD of Padma Bank Limited and Md. Rafiqul Islam, CEO of Rico International, exchange documents after sign an agreement at the consultancy office in the capital on Tuesday. Under the deal, Rico International students shall be served with priority services ranging from account opening to remittance and beyond at the bank’s specialized Student Care Centers and branches through dedicated relationship managers. Top officials from both sides were present.
November 10, 2022 - Kali Cheron, Chief Financial Officer of Rangs Electronics Limited (REL) andFarzana Sharmeen, Head of IPDC Finance Limited, exchange documents after signing an agreement at IPDC’s corporate head office in the capital recently. Under the deal, consumers across the country will have the facility to purchase electronics products with installments facility of up to 12 months under IPDC Easy. Top officials from both sides were present.
October 29, 2022 - Shahriyar made CEO of PICL
October 29, 2022 - Dr. H.B.M. Iqbal, Chairman of Premier Bank Limited, celebrates the bank’s 23th founding anniversary programme by cutting a cake at its head office in the capital on Wednesday. M Reazul Karim, Managing Director & CEO, BH Haroon, MP, M Imran Iqbal, Jamal G Ahmed, Nahyan Haroon, Directors, Kaiser A. Chowdhury, Naba Gopal Banik, Independent Directors and Muhammed Ali, Advisor of the bank were present.
October 29, 2022 - AB Bank Limited signed an agreement with Jamuna Electronics and Automobiles Limited under which AB Bank cardholders will enjoy EMI facilities @0% up to 36 months. Syed Mizanur Rahman, DMD of AB Bank Limited and Md. Sazzadul Islam, Head of Business, Jamuna Electronics and Automobiles Limited signed the agreement on behalf of their respective organisations. Senior officials of both the organisations were also present at the ceremony.
September 29, 2022 - Sheikh Hasina is now world leader: Hasan
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September 29, 2022 - Emranul Huq, Managing Director and CEO of Dhaka Bank Limited along with Professor Niaz Ahmed Khan, Ph.D, Pro-Vice Chancellor of Independent University, Bangladesh (IUB), launches a prepaid card product called Aspire Student Prepaid Card in association with VISA at IUB campus in the city recently. The Aspire Student Prepaid Card can be availed by any students of Bangladesh having a valid Student ID supported by Guardian Documents from any branches, online application and student banking unit of the bank.
September 29, 2022 - Noor -E- Hafza, Chairman, Board of Directors of Sonali Life Insurance Company Limited (SLICL), presides over its 9th AGM held on Wednesday. The AGM approved 15 percent cash dividend for its shareholders year ended on December 31, 2021. Directors and senior officials of the company were present.
September 29, 2022 - Noor-E-Alam Chowdhury, Chief Whip of Bangladesh Parliament, inaugurates the 386th branch of Islami Bank Bangladesh Limited as chief guest at Shibchar in Madaripur on Wednesday. Mohammed Monirul Moula, Managing Director & CEO, Md. Altaf Hossain, DMD, Miftah Uddin, SEVP and Md. Abdus Sobhan, EVP of the bank, were present.
September 29, 2022 - Sumon Morshed, Managing Director of Finery Group, inaugurates its 20th anniversary at its office in the capital on Wednesday. Officials and employees of the company were present.
September 29, 2022 - NFBIs demand withdrawal of cap on deposit interest
September 25, 2022 - PM calls ‘tragic’ rich nations response to climate issue
September 25, 2022 - World Bank to publicise Bangladesh’s dev success
September 25, 2022 - ‘Time is up’: Countries trapped in climate crisis raise alarm at UN
September 25, 2022 - Rising risk of global recession
September 25, 2022 - Energypac win RESCM award
September 25, 2022 - UFIL gets new DMD
September 25, 2022 - NRBC Bank wins six prizes as best bank in South Asian Business Excellence Awards
September 25, 2022 - GP trials 5G in all divisional cities
September 25, 2022 - Extend tenure of trade licences to 5 years: MCCI
September 25, 2022 - City Bank Capital moves to its new corporate head office
September 19, 2022 - Free, fair polls only held in AL govt periods, PM tells BBC
September 19, 2022 - Feroz Hossain made Exim Bank MD
September 19, 2022 - Nasimul Baten, Managing Director and CEO of DBH Finance PLC, inaugurates its 14th branch at Station Road in Rangpur city recently. AKM Tanvir Kamal, DMD and Head of Credit, Saiyaf Ejaz, Head of Administration and Recovery, Md Zakaria Eusuf, Head of Loan Operations, Sabed Bin Ahsan, Head of Deposits, Business Planning and Alternate Channels and other officials of the company, were present.
September 19, 2022 - Ruhul Amin re-elected as Risk Management Committee chairman of NRB Bank
September 19, 2022 - Niranjan Chandra Debnath, DMD of Sonali Bank Limited, Dr. Dewan Muhammad Humayun Kabir, Project Director of Aspire to innovate and Md. Samawat Ullah, Managing Director of Olivine Limited, exchange document after signing a tri partisan deal to collect the citizens fees and charges under Online Councilor Certificate System through the Sonali Payment Gateway at the bank’s head office in the capital on Sunday. Other senior officials from respective sides were present.
September 19, 2022 - Showing trade license not mandatory for small traders to open bank accounts
BB tightens rules to restore discipline in import financing

BB tightens rules to restore discipline in import financing

DHAKAA:The central bank on Sunday drew up a detailed guideline on post-import financing (PIF) to end the misuse of loans extended to pay for imported goods and bring discipline in the foreign exchange regime in the banking industry.
Previously, some delinquent borrowers frequently used the PIF window to siphon off money from lenders, compelling the Bangladesh Bank to prepare the guideline, said a central banker.
Under the PIF, banks extend loans to importers to help them pay the cost of the imported items within the stipulated time. This gives importers the opportunity to repay it after selling products.
Conventional banks earlier used to treat such financing as loans against trust receipts, while Shariah-based banks called it Murabaha trust receipts.
The central bank has asked banks to cite the lending product as PIF going forward, according to a BB notice on Sunday.
Importers have to pay back the loans under the facility within three months for consumer goods and six months for industrial raw materials as per the previous instruction of the central bank.
Now, banks will be allowed to extend the repayment tenure by a month for consumer products and two months for industrial raw materials. Banks will have to take approval from their boards for such extension.
There have been many examples that clients had not repaid the loans taken under the PIF on time, the BB official said.
The delinquent borrowers converted their PIFs into term loans by having them rescheduled. At one stage, the term loans defaulted, meaning the importers did not repay the loans despite selling their imported products, creating a problematic situation.
Banks have so far disbursed nearly Tk 52,000 crore in the form of PIF. A large portion of the fund is in the defaulted zone, the official said.
Mir Nasir Hossain, a former president of the Federation of Bangladesh Chambers of Commerce and Industry, said that everything should be done based on the bank-customer relationship.
“If banks do not follow the rules, corporate governance in the banking industry will not improve,” he said.
The central bank has asked banks to formulate a policy on the PIF following consent from the board.
Businesses that are owned by the same person will not be eligible for the PIF facility.
Banks will have to follow the BB guidelines on risk management and internal credit risk rating system before lending under the PIF.
The central bank asked banks to verify whether clients meet all conditions as per banking norms before they are allowed to avail of the facility.
Importers will have to keep mortgage with banks against the loans.
Clients will not get any fresh PIF facility if their previous loan remains outstanding. But if clients face any unexpected adversity, banks can offer the facility with approval from the board.
Lenders have been barred from stating the PIF as term loans even if they reschedule the credit.
Banks will have to set up a PIF monitoring unit to recover the loans. A skilled team who has strong knowledge of foreign exchange rules must be appointed for the cell.
The internal audit department of banks will carry out an audit every three months to monitor the loan status under the lending facility. If required, audits should be conducted on an emergency basis at any time, the BB notice said.

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