Dhaka, Sep 19 (UNB) - Dhaka South Zone of Islami Bank Bangladesh Limited organized a discussion on Shari`ah compliance in Banking Operation and client get together recently at Islami Bank Tower.
Professor Md. Nazmul Hassan, Ph.D, Chairman of the bank was present in the program as chief guest. Presided over by Md. Mahbub ul Alam, Managing Director & CEO, Dr. Muhammad Saifullah, member of Shari`ah Supervisory Committee of the Bank addressed the programme as main discussant., said a press release.
Md. Abdul Jabbar, Deputy Managing Director, Md. Shamsuddoha and Abu Sayed Md. Idris, Executive Vice Presidents also addressed the program. Md. Nurul Alam, Managing Director of Setu Steel Mills, Md. Motiur Rahman, Proprietor of FM Fabrics, Md. Showkat Amin Tutul, Proprietor of Amin Enterprise addressed the programme.
The daylong program was attended by executives and officials of the Zone and its 20 branches along with clients.
Dhaka, Sep 18 (UNB) – The Dhaka Power Distribution Company Ltd (DPDC) will implement a China-funded Tk 20,500 crore mega project to raise distribution capacity on its network in the capital.
Under the scheme, a total of 40 substations will be set up in the city while overhead cables of Hatirjheel Lake and Dhanmondi residential area will be laid underground in next 5 years.
Tabian Electric Apparatus (TBEA) Co. Ltd, a Chinese government-selected contractor will execute the biggest-ever distribution project in the DPDC’s mandated area in Dhaka city, that also includes some more projects bundled in.
In this regard, the DPDC on Wednesday signed a contract to appoint a joint venture consultant of Finland and Bangladesh—JV of Hifab & ECBL— to provide the consultancy services to implement the project.
Addressing the contract signing ceremony, State Minister for Power, Energy and Mineral Resources Nasrul Hamid warned the officials of DPDC about tough action in case of any negligence in its implementation.
“We have to move forward with innovative ideas coming out of the box as we plan to implement mega project. But no negligence will be spared in maintaining the quality and standard of work,” he told the DPDC officials present at the function at Bidyut Bhaban in the city.
He also termed the project as historic one for Dhaka city as funding for this project was signed during Prime Minister Sheikh Hasina’s visit to China in July last which was witnessed by Chinese President.
Nasrul Hamid said this project will play a vital role to modernise and digitized the power distribution network of Dhaka city as some substation will be constructed underground saving the land.
“These substations will have commercial and residential buildings on them like those were built in Tokyo city of Japan”, he said.
He said gradually all the overhead cables in Dhaka and other big cities will be installed underground.
DPDC managing director Bikash Dewan informed the function that of the planned substations, 14 will be of 123/33/11 kV and 26 will be of 33/11 kV capacity under the project titled “Expansion and Strengthening of Power System Network under DPDC area.
Capacity of 8 existing 132/33 kV and 4 33/11 kV substations will be enhanced under the project, he said, adding a modern SCADA will also be set up with the funds of the project.
The DPDC operates mainly in central, west and old part of Dhaka city and also most of Narayanganj city.
Once the project will be implemented, the capacity of 132 kV level will go up to 5330 MVA and 33 kV level to 4680 MVA, Bikash Dewan mentioned.
The Chinese contractor was selected for the project while Chinese Exim Bank will finance the project. Bikash Dewan said although the project was undertaken about 4 years back, delays in financial disclosure had held it up.
Dhaka, Sept 17 (UNB) - Finance Minister AHM Mustafa Kamal on Tuesday said punitive actions will be taken against anyone involved in defaulting loans.
“The amount of defaulted loan has increased due to legal loopholes. It won’t increase any more. Action will be taken against anyone involved in loan default,” he said.
Mustafa Kamal said the amount of defaulted loan will not increase if punitive actions are taken.
He was briefing the media after a meeting with chairmen and managing directors of state-run banks – Sonali, Agrani, Janata and Rupali – at the NEC conference room in the city.
Mustafa Kamal said they adopted a work plan to boost revenue profit because these four banks play important roles in the economy.
The minister said the government will formulate a new law, if necessary, to get rid of default loans.
“Bank branches will be shifted from areas that have multiple branches. We want a healthy competition among the banks. We’ll sit with them every three months to assess the situation,” he said.
The minister said they are liable to the people and vowed to bring back transparency and accountability in the banking sector.
He noted that the current procedure for appointing managing directors ensures that no disqualified persons are appointed.
“We’re identifying and plugging the loopholes,” the minister said. “We’ll form a bank commission, if necessary, to improve the sector.”
Dhaka, Sept 16 (UNB) - Industries Minister Nurul Majid Mahmud Humayun on Monday said strategically important Payra seaport will make Bangladesh a major regional trade hub.
He made the remarks while addressing a programme at a city hotel in the evening.
The minister said China continues to provide invaluable support to Bangladesh’s economic development through technical and financial assistance in diverse sectors.
"Currently, our bilateral relations in terms of trade and investment are so strong that it has surpassed all the previous records," he said terming China one of the major development partners of Bangladesh.
He said China is now the largest source of import for Bangladesh and Bangladesh is now China’s third largest export destination in South Asia.
The bilateral trade between Bangladesh and China, which amounted to $12.4 billion in 2017-2018, is expected to reach $18 billion by 2021, Humayun said.
He mentioned that China's USD 38 billion investment in Bangladesh, in combination with USD 24.45 billion in bilateral assistance for infrastructure projects and USD 13.6 billion in joint ventures, has created a new era of strategic partnership between the two countries.
Textiles and Jute Minister Golam Dastagir Gazi, NBR Chairman Md Mosharraf Hossain Bhuiyan, and Economic and Commercial Counselor, Embassy of the People’s Republic of China in Bangladesh Liu Zhenhua also spoke at the function with Bangladesh China Chamber of Commerce & Industry (BCCCI) President Gazi Golam Murtoza in the chair.
The industries minister said the current Awami League government under the pragmatic leadership of Prime Minister Sheikh Hasina has taken numerous initiatives to further boost the thriving economy and promote international trade and investment.
“We’re building a deep seaport, assigning new Economic Zones, constructing power plants and rapidly upgrading our infrastructures to facilitate our industries and to attract foreign investors. Our first-ever Nuclear Power Plant at Rooppur is in progress. We’re revamping our highways and the Padma Bridge construction work is near to finish soon,” he said.
Humayun said the consecutive visit of Prime Minister Sheikh Hasina to China in 2010 and 2014 had elevated the relationship to “Closer Comprehensive Partnership of Cooperation”.
He said China's President Xi Jinping's landmark visit to Bangladesh in October, 2016 marked the beginning of a new horizon and a new historical starting point of Bangladesh-China relations.
The minister said the BCCCI has been working proactively for the betterment of bilateral trade and has been providing commendable support to the investors of both the countries.
Dhaka, Sep 14(UNB)- Mohammad Firoz, an expatriate who recently returned from Saudi Arabia, got Tk 10 lakh after purchasing a fridge of Walton brand under the offer ‘Who will be today’s millionaire.’
The lucky man Md Firoz, who has been working as a mechanical engineer in a private farm in Jedda of Saudi Arabia returned to Bangladesh on a vacation of Eid-ul-Azha at Ledua village of Raipur upazila in Laxmipur.
After the purchase, he registered the fridge with its bar code number, along with his name and mobile phone number, under the nationwide ongoing Walton digital campaign season-4.
After a while, he received a message from Walton with the notification of awarding Tk 10 lakh for purchasing refrigerator under the digital campaign’s millionaire offer.
Ariful Ambia, executive director of Walton Group, handed over the money at a programme arranged by Mim Electronics at Raypur Bazar in Laxmipur recently.
Md Firoz said “It’s unbelievable. I’m feeling so much pleasure which can’t be explained. For the first time in my life, I received any prize.”
The award worth of Tk 10 for buying a fridge is undoubtedly an unexpected and a big prize for me. Although I have been working in Soudi Arabia for over the last two decades, I could not even make savings of Tk 10 lakh. I am grateful to Walton.”
Under the offer, more than 20 customers received Tk 10 lakh while a good number of customers got Tk 1 lakh, sure cash vouchers and various sorts of Walton products as free through registering their new refrigerators just after the purchase from any Walton Plaza or distributor outlet.
The offer will be closed on September 30.