BB launches instant fund transfer system
Bangladesh Bank (BB) launched Real Time Gross Settlement (RTGS) with 55 banks today.
“Introduction of RTGS would enable instant transfer of funds between banks and institutions,” said Governor Atiur Rahman at the inauguration of the service at the BB headquarters in Dhaka.
Initially 5,000 branches of 55 banks will be able to render the service to its customers.
Rahman said the system will have a substantial impact on current operations in the banks, particularly in the area of treasury, payment division, corporate banking and cash management.
RTGS facil...
IBBL RDS role model for rural development
A solvent family, own house, a piece of arable land- are the common dream of low income people. Mnowara Begum, a housewife of Paikpara village under Patia Upazila of Chittagong used to cherish the same. But poverty cripples her dream. Their days pass through financial difficuties with her husband's little income. Yet she did not get dishearted. She started finding the way to get rid of proverty. She learnt about the Rural Development Scheme of Islami Bank Bangladesh Limited (IBBL) from neighbors.
Manowara became a member of the scheme under Hazrat Fatima (RA.) center at Patia Branch of the Bank in 2005. The scheme acts as the charioteer of her dreams. She took Tk. 5 thousand
AML guidelines for co-operative societies
Bangladesh Bank (BB) has issued an anti-money laundering (AML) guidelines for co-operative societies to help combat money laundering and terror financing.
Issuing the guidelines on October 7, the central bank asked all the co-operative societies to follow it accordingly to keep their activities and services protected from the risks of money laundering and terror financing.
The guidelines suggested all the co-operative societies to set up a central compliance unit or contact point under the direct supervision of the head o...
Navy-Air force seeks permission to set up commercial bank
Bangladesh Navy and Air Force have sought permission from the government to start a commercial bank.
Navy chief Vice Admiral Muhammad Farid Habib in a letter to the Prime Minister has asked for approval for the proposed Maritime Bank Ltd.
He also said this is expected to ‘further facilitate’ financial services for those serving the Navy and the Air Force.
The Air Force and Navy will be partners in the venture.
The Navy wants to operate the bank through its commercial arm Nou Kalyan Foundation.
A formal proposal will be submitt...
60-day long internship program at IBBL
Islami Bank Bangladesh Limited (IBBL) organized a 60-day long internship program for the students of different public and private universities on October 05, 2015 at Conference Hall of Islami Bank Training & Research Academy (IBTRA).
[caption id="attachment_20109" align="alignright" width="540"] Mohammad Abdul Mannan, Managing Director and top executives of the bank are seen in the inaugural ceremony on October 05, 2015 along with the interns[/caption]
Mohammad Abdul Mannan, Managing Director of the Bank was present in the inaugural ceremony of th...