AE Abdul Muhaimen appointed MD of UCB

Posted by BankInfo on Sun, Jul 30 2017 11:00 am

Prior to that, he was the Additional Managing Director of UCB

AE Abdul Muhaimen has been appointed as the Managing Director of United Commercial Bank Limited (UCB).

Prior to that, he was the Additional Managing Director of UCB.

Abdul Muhaimen is a senior banking professional with 30 years of experience with multinational corporations and regional banks in Asia, Australia, Middle East.

Mr. Muhaimen have also held Board positions as a Director on the Boards of Brac EPL, Brac EPSL, bKash and IIDFC in Bangladesh.

News:Dhaka Tribune/30-jul-2017

Central bank sees S Africa exiting recession

Posted by BankInfo on Sun, Jul 30 2017 10:51 am

JOHANNESBURG: South Africa's central bank chief said Friday the country was expected to have emerged from its first recession for eight years during the second quarter of this year.

Africa's most advanced economy unexpectedly contracted in the first quarter of this year, slipping into its first recession since 2009, reports AFP.

"We believe that the worst is behind us -- and that growth in the second quarter of this year will be positive," said central bank governor Lesetja Kganyago.

The bank forecasts the economy to grow by 0.5 percent this year, which it expects to rise to 1.5 percent in the next two years.

News:Daily sun/30-jun-2017

Russian central bank keeps key rate at 9pc

Posted by BankInfo on Sun, Jul 30 2017 10:46 am

MOSCOW: Russia's central bank hit the pause button on rate cuts Friday, deciding to hold off following three consecutive reductions amid a slight uptick in inflation.

The bank insisted "short-term and mid-term inflation risks persist" as it announced in a statement that it was sticking at the present 9.0 percent rate.

It said, however, that it is looking to resume its policy of lowering the rate to revive economic growth and "sees room" for cuts "in the second half of 2017", reports AFP.

"While making its decision hereinafter, the Bank of Russia will assess inflation risks, the inflation dynamics and economic developments against the forecast," it added.

Russia's central bank hiked rates sharply in late 2014 as the Russian economy buckled under the double-whammy of the collapse in oil prices and Western sanctions over Moscow's meddling in Ukraine. Ever since it has proceeded cautiously with easing the rate, championing a "moderately tight monetary policy" against a background of economic uncertainty.

News:Daily sun/30-jul-2017

City Bank, FMO hold training course

Posted by BankInfo on Sun, Jul 30 2017 10:35 am

Bangladesh Bank Executive Director Ahmed Jamal and City Bank Managing Director and CEO Sohail RK Hussain are seen at a training course organised by FMO and City Bank at City Bank’s head office in the capital on Saturday.

Ahmed Jamal, Executive Director of Bangladesh Bank, Sohail RK Hussain, Managing Director and CEO of City Bank and Elisabeth Wegen, Senior Analyst, Financial Institutions of FMO inaugurated the programme on Saturday, said a press release.

Among others, Rahel Ahmed, DMD, Prime Bank, Sheikh Mohammad Maroof, DMD, City Bank, Mahia Juned, DMD, City Bank were also present.

The training has been participated by senior officials from Bangladesh Bank, City Bank, FMO and other leading commercial banks of the country.

The training is being conducted by Emma Jenkins, an experienced trainer from Euromoney who has years of experience on commodity markets specializing in derivative pricing, structuring, and loan origination.

News:Daily sun/30-jul-2017

Jamuna Bank inks deal with Hotel Sea Crown

Posted by BankInfo on Sun, Jul 30 2017 10:26 am

Jamuna Bank Deputy Managing Director AKM Saifuddin Ahamed and Hotel Sea Crown Managing Director SM Sayeedul Haque exchange documents after signing an agreement at Jamuna Bank head office in the city recently.

Deputy Managing Director of Jamuna Bank Limited AKM Saifuddin Ahamed and Managing Director of Hotel Sea Crown SM Sayeedul Haque signed the agreement on behalf of their respective organizations, said a press release.

News:Daily sun-30-jul-2017
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