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Banking

Concept of Education Banking

 

By A. R. Farrukh Ahamed

Education is universally recognized as a right, not a privilege. Unfortunately, this right is often interrupted due to fund unavailability of the education providers and the learners too. The Right to Education is guaranteed by many legal tools of the global bodies as well as by the constitutions and laws of the state parties. But in many developing and least developed countries like Bangladesh, this right cannot be fully implemented as there has been a shortage of investment in education. Though ‘investment in education’ is considered the most effective and trustworthy investment by all the stakeholders, but fund is still not ensured by the pa...

Bank Asia elects new Vice Chairman

Md Nazrul Huda, one of the Independent Directors of Bank Asia Ltd, has been elected as Vice Chairman of the Bank at a meeting of the Board of Directors heldrecently. Nazrul Huda Sir_VC_edHuda is a former Deputy Governor of Bangladesh Bank. He served Bangladesh Bank successfully for 35 years in different capacities. Mr. Huda obtained Masters in Economics from both University of Dhaka, Bangladesh and University of New England, Australia. He has a number of publications on important issues relating t...

New instructions for existing bank credit

Bangladesh Bank (BB) on Wednesday issued new instructions for banks to avoid the increasing trend of lending rate. “Banks can’t increase the rate of interest if the rate is fixed. In case of flexible, variable or bbfloating interest rate, banks can increase the rate once in a year,” said a BB circular issued Wednesday. For increasing the interest rate, the circular said, banks will have to issue notice to the borrowers at least three months ago. In case of term loans, banks can increase the lending rate by 0.50 percent each time. But,...

Eid notes from June 3

Bangladesh Bank (BB) will release new currency notes for Taka 10, 20, 50 and Taka 100 in the market ahead of Eid-ul-Fitr from June 3. The new notes will be distributed from all branches of Bangladesh Bank across the country every day until June 14, said a press release here today. call moneyThe new notes distribution will remain closed in the government holidays, the release added. The notes will also be distributed from Jatrabari Branch of the National Bank, Abdul Ghoni Road Corporate Branch of the Janata Bank, Elep...

Bank Asia inks deal with Nathan Associate

Bank Asia and Nathan Associate London Limited, an authorized agent of Department for International Development (DFID) signed a grant contract to support the financial inclusion CHALLENGE FUNDwith capacity building of smallholders and the emergence of thriving communities in which farmers flourish with additional income, recycling it and capturing value added within the immediate and extended community under a project “Growing Together”. Mr. Md. Arfan Ali, President and Managing Director of Bank Asia and Mr. Bud...

BD eyes settlement in $ 66m cyber heist

An Ecuadorian bank and Wells Fargo have reached an out-of-court settlement over a 2015 cyber heist, providing a possible precedent for the Bangladesh central bank’s planned suit to recover $66 million still lost in one of the world’s biggest such cases. A suit by Ecuador’s Banco del Austro against Wells Fargo & Co (WFC.N) was quietly settled in February, less than a month before a trial date was set, and the U.S. district court in Manhattan sealed all discussions, according to court documents. No other major media has reported the settlement.