Mercantile Bank Limited (MBL) signed an agreement with Grameenphone Limited recently.
Under the agreement, Mercantile Bank will provide Mobile Banking Services ‘MYCASH’ to its customers via Grameenphone’s MobiCash distribution network, said a press release on Sunday.
M. Ehsanul Haque, Managing Director and CEO of Mercantile Bank and Vivek Sood, Chief Executive Officer of Grameenphone signed the agreement on behalf of their respective organisations.
Badiur Rahman, Chairman, Al-Arafah Islami Bank, presides over a board meeting at the bank’s board room in Dhaka on Saturday.
The 250th meeting of the board of directors of Al-Arafah Islami Bank Limited was held at the bank’s board room in Dhaka on Saturday.
Badiur Rahman, Chairman, Board of Directors of the bank presided over the meeting, said a press release.
The meeting reviewed overall business performance of the bank.
Farman R Chowdhury Sunday joined Shahjalal Islami Bank Limited (SJIBL) as Managing Director (MD) and CEO.
Prior to his new assignment, he was Managing Director of ONE Bank Limited, said a press release.
After completing MBA from the IBA of the University of Dhaka, Farman started his banking career in October 1986 as a Management Trainee in American Express Bank.
Later, he joined ONE Bank Limited in July 1999 as first branch manager.
He has earned a vast experience in banking operation, especially in credit and marketing functions.
During his twenty-seven years banking career, he received trainings in banking and finance at home and abroad and attended at many seminars, workshops and symposiums relating to banking and finance.
Banks will be open throughout the country on Saturday to facilitate the nomination filing process for the upcoming national elections.
Bangladesh Bank General Manager AFM Asaduzzaman confirmed the news to the Dhaka Tribune Thursday evening. “A circular to this regard will be issued soon.”
Bangladesh Bank has launched a cost of fund index for financial institutions to rationalise their interest rate, service charges and commissions for protecting the interest of the customers.
“We are going to implement a new monitoring system named base rate system. Its main component is cost of fund index,” Bangladesh Bank Governor Dr Atiur Rahman said, launching the index at its headquarters in Dhaka on Wednesday.
“We have to be careful so that efficiency or inefficiency of fund management of financial institutions is not directly imposed on the clients.” Evaluating the interest rate will be easy for financial institutions by using this cost of fund index as reference rate.
As a result, customers’ interest will be protected and there will be a healthy competition among the financial institutions.
The formulation of this identical base rate method will create level playing field in the overall financial sector, said the central bank governor.
By this based rate system, he said transparency and accountability will be ensured in fixing the interest rate and profit of financial institutions will be sustained.
A large part of funds of financial institutions comes from bank loan. So the fund cost index will play a role to protect the customers’ interest in the financial institutions.