business
Mahtab steps down as Robi’s Managing Director and CEO
After a successful stint as Robi’s Managing Director and CEO for five years, Mahtab Uddin Ahmed has decided to step down.
Though his five-year term with Robi will officially come to an end on October 31, 2021, he has decided to go on leave with immediate effect, according to a company release issued on Thursday.
Read: Robi’s digital employee healthcare platform becomes role-model for Axiata
Robi’s Chief Financial Officer (CFO) M Riyaaz Rasheed, in addition to his current role, will serve as the acting CEO with immediate effect.
Chairman of Robi Board of Directors, Thayaparan Sangarapillai said: “On behalf of the Robi Board of Directors, I would like to thank Mahtab for establishing Robi firmly as the leading digital service provider of the country.”
Mahtab thanked Bangladesh Telecommunication Regulatory Commission, Posts and Telecommunications Division, ICT Division, Bangladesh Security Exchange Commission, Dhaka Stock Exchange, Chittagong Stock Exchange, and Robi’s employees, business partners and customers for their cooperation.
Read: Robi partners with SKS to help Covid-hit low-income people
As Robi’s first home-grown CEO, Mahtab took the company to the dizzying height of success that includes achieving leadership position in 4G, a number of path-breaking innovative digital initiatives and the biggest-ever IPO.
He leaves behind Robi on a strong foundation to transform itself into the digital champion of the industry through leadership in digital innovation.
Motorcycle Loans in Bangladesh: Turning Your Two-wheeler Dream into Reality
Whether riding as a hobby or as a daily commuter, motorcycles have long been popular in Bangladesh. But a proper two-wheeler will set you back a considerable amount of money which is often out of reach for many. But should that stop you from getting one? Not at all. In fact, several banks offer loans for your two-wheeler. So which banks in Bangladesh are the best for motorcycle loans? And what should you consider before getting one? Let's find out.
Factors to consider before taking a motorbike loan
Interest rate
Interest rate is the main universal factor to compare between loans. Almost all the banks of Bangladesh have a unified interest scheme against their motorcycle loans. However, some banks charge more for some added perks.
Loan security
Loan security is another important factor. Loans of significant amounts require some form of security before they are disbursed. While it generally doesn’t apply to motorcycle loans as the amount is significantly less. However, there might be exceptions and so you have to be careful before signing up.
Read: Angel Investment 101: Is It the Right Track for Your Startup?
Loan inclusions
Most motorcycle loans don’t cover the entire cost of the bike. Usually, it’s a percentage of the price and associated costs. The percentage amount differs from bank to bank. As a loan seeker, you would want a loan that will cover the entire cost of the cycle or a close amount. However, that might come with higher interest rates.
Early termination
Check whether your loan offers an early termination policy. There might be situations where you would want to pay off extra or the remaining amount in a lump sum before the maturity period. While many banks allow an early termination policy, it may come with added costs. So, it's important to consider whether you’ll be paying off your loan before maturity.
Loan fees
Loan fees are charged as processing fees or loan maintenance fees. Most banks in Bangladesh don’t charge a loan maintenance fee. However, there are banks that charge loan processing fees. Typically, it’s a lump sum or a small percentage of the loan. But this is also something to keep in consideration before choosing a loan scheme.
Read Best Car Loans in Bangladesh to Grab Your Dream Car
Best Banks for motorcycle loans in Bangladesh
Eastern Bank Two-Wheeler Loan
Eastern bank is one of the premier private banks of Bangladesh known for its competitive and exceptional customer service. The bank has a two-wheeler loan scheme which has several perks.
EBL offers loans ranging from 50000 BDT to 4 Lac BDT which is one of the highest in Bangladesh. However, you will get 70% of the actual price of the bike as a loan. The registration will be a joint one and you will need to have a minimum income of 25000 BDT to be eligible for this loan. There is a 0.5% processing fee and 0.5 % early settlement fee added to the loan.
The standard 9% interest rate is applicable for the two-wheeler loan. You will also need to have first-party insurance while registering the bike. EBL two-wheeler loan can be a great choice considering the low eligibility criteria as well as provision for early settlement. For more information, visit the official site here.
Read:Student Loans in Bangladesh: Banks Offering Education Loans for Higher Studies
New mobile app, Sadai, launched to facilitate online marketing of agro products
Agriculture Minister Dr Muhammad Abdur Razzaque on Wednesday launched a mobile app called “Sadai” for online sale of agricultural goods saying that the country faces a big challenge in marketing the products despite a success in production.
“The production of all agricultural commodities, including rice, wheat, maize, vegetables and fruits has multiplied in the country. An outstanding success has been achieved in the production. But now the biggest challenge is the marketing of these agricultural products,” he said.
Read: Online Eid Fair: UNDP-backed online marketplace teams up with Joyeeta Foundation
The minister made this remarks at his ministry’s conference room after launching a mobile app titled “Sodai” for online selling agricultural products.
The Mobile application is being implemented by the department of agriculture marketing (DAM) with the assistance of the ministry of agriculture.
Read: Buy sacrificial animals from online markets: LGRD Minister
Dr Razzaque said, “In many cases, farmers cannot market their products and don’t get the proper prices.” Alongside ensuring the fair prices for the farmers, it is also essential to assure the consumers of giving safe and adulteration-free products at the proper prices, he added.
He hoped that this mobile app “Sodai” would work to this end reducing the high-handedness of middlemen.
Read Top 5 Mobile Apps for Farmers in Bangladesh
Agriculture Senior Secretary Mesbahul Islam presided over the function, while DAM Director General Mohammed Yousuf and additional secretary at the ministry Hasanuzzaman Kallol spoke on the occasion.
PRAN-RFL gives protective equipment to DRU
PRAN-RFL Group, one of the leading business conglomerates of the country, has given
protective equipment to the Dhaka Reporters Unity (DRU) for its members.
Kamruzzaman Kamal, Marketing Director at PRAN-RFL Group, handed over the protective equipment at DRU office in the capital on Wednesday.
READ: Pran Drinking Water gives food to the needy in Ramadan
Morsalin Nomani, President and Moshiur Rahman Khan, General Secretary at DRU received the PRAN-RFL group’s surgical face mask and hand sanitizer on behalf of Dhaka Reporters Unity. Touhiduzzaman, Assistant General Manager (Public Relations) at PRAN-RFL Group, Arafat Daria, Joint Secretary, Mainul Ahsan Sohel, Organizing Secretary, Maidur Rahman Rubel, Publicity and Publication Secretary, Mohammad Noimuddin, Hospitality Secretary and Khalid Saifullah, Welfare Secretary at DRU, among others were also present at the program.
They thank the PRAN-RFL Group for giving protective equipment to their members.
Kamruzzaman Kamal said, “Dhaka reporters unity is the country’s leading journalist organization.The members of DRU who are the frontline’s journalists, are workingb continuously in the field with the risk of life and delivering all kinds of information to us amid the corona situation. We thank them on behalf of the PRAN-RFL group.”
READ: Pran Agro issues 1st internationally guaranteed bond in Bangladesh
He also added, “PRAN-RFL has taken numerous initiatives to stand beside poor people and
fronliners after the outbreak of virus in March last year. We are distributing foods regularlyamong poor people and donating safety equipment to the hospitals. As part of the initiative, we are happy to give the protective equipment to the DRU.”
Job Opportunity at Bengal Commercial Bank Limited
Bengal Commercial Bank Limited is mainly engaged in deposit and lending activities to private and corporate clients in wholesale and retail banking. Other services typically include credit cards, mobile banking, custodial service and guarantees, cash management and settlement as well as Trade Finance.
Position Name: Officer (AO-Officer), Account Services, Operations Division
Vacancy: Not specific
Read Job Circular at BIWTA: Large Recruitment for Bangladesh Inland Shipping Authority, Vacancy 363
Job Responsibilities
● Dealing out all types of CASA, Scheme Account Opening in CBS
● Checking AOF and all related required documents and deferral of Appropriate Authority if there
is any document insufficiency
● Processing of New Standing Instruction in CASA and maintenances of old one
● Processing all types maintenances request for CASA accounts and Generate Thanks Letter.
● Limit restriction (no debit mode) for returned Thanks letter and after getting address proof
document reset address and debit limit.
● Processing Closure of all types of CASA Accounts also Processing Encashment of all types of
Scheme Accounts
● Following the latest internal circulars & Bangladesh Bank guidelines
● Complying with Bangladesh Bank & Internal Policy and Guidelines in every step of the process to
ensure zero tolerance in compliances.
Employment Status: Full-time
Read Bangladesh Railway Job: Bangladesh Railway will hire 153 people
Educational Requirements
Post-Graduation from any reputed university with no Third Division/ Class
Experience Requirements: At least 2 year(s)
Additional Requirements
● Minimum 2 years of experience in Account Services/ Operations Department of a reputed Bank
● Experience of working in a centralized process, e-KYC and real time on-line banking environment
is preferable
● Sufficient knowledge of Branch Operations, General Banking Operations is required
● Strong communication skills with effective interpersonal relationship
● Adequate computer literacy to work in online software modules and office packages
● Persons with disability are encouraged to apply
Job Location: Dhaka
Read BBC Media Action Job Circular: bbcmediaaction.org
Application Deadline: 20 Aug 2021
Salary: Bengal Commercial Bank Ltd. offers excellent compensation & benefit packages.
Job Source: Bdjobs.com Online Job Posting.
More Info & Apply Link: http://jobs.bdjobs.com/jobdetails.asp?id=979676&fcatId=2&ln=1
Robi’s digital employee healthcare platform becomes role-model for Axiata
Robi’s innovative digital solution to keep a tab on well-being of its employees and their family members during the Covid-19 pandemic has been recognized as a role model by Axiata group.
Robi’s digital leadership has inspired a number of Axiata’s operating companies spread over different countries to adopt similar solutions.
Read: Robi partners with SKS to help Covid-hit low-income people
In Robi’s in-house digital healthcare platform employees can submit the health status of themselves and their family members. They can also hit the emergency button in need of immediate support, responding to which Robi’s HR team contacts them instantly. After receiving feedback from the healthcare platform, the HR team gets in touch with the help seeking employee.
The reports from the healthcare platform and the one-on-one check-ins are later summarized into a health dashboard for discussing frequently in the management meetings to ensure employees and their family’s sound health.
Read: Mobile Insurance Offers in Bangladesh Can Save Lives
IBBL Rangpur Zone holds Seminar on Shari‘ah compliance
Islami Bank Bangladesh Limited Rangpur Zone Organized a webinar on ‘Compliance of Shari‘ah in Banking Operations’ recently.
Mohammed Nasir Uddin FCMA, Director of the Bank addressed the webinar as chief guest and Mohammad Qaisar Ali, Additional Managing Director of the bank addressed as special guest.
Also read: IBBL Rajshahi holds business development conference
Besides Mufti Sayeed Ahmed, Vice Chairman, Shari‘ah Supervisory Committee addressed the webinar as chief discussant.
Mir Rahmat Ullah, Executive Vice President, & Head of Rangpur Zone presided over the program while Md. Shamsuddoha, Executive Vice President, Mohammad Shahjahan Ali Head of Rangpur Branch addressed it in presence of the Head of Branches and Officials under Rangpur Zone.
READ: IBBL Rangpur holds business development conference
IBBL Agrabad, Khatunganj branches hold webinar on Shariah compliance
Corporate branches of Islami Bank Bangladesh Limited (IBBL) in Agrabad and Khatunganj organised the webinar "Compliance of Shari'ah in banking operations" Saturday.
Dr Md Sirajul Karim, director of the bank, addressed the event as chief guest and Mohammed Monirul Moula, managing director and CEO of the bank, as special guest.
Also read: IBBL Rajshahi holds business development conference
Dr Mohammad Gias Uddin Talukder, chairman of the IBBL Shari'ah Supervisory Committee, addressed the webinar as chief discussant.
Meah Md Barakat Ullah, head of the Agrabad branch, presided over the programme, according to a press release.
How to Become an Entrepreneur without Money or Skills?
While many people want to start a business, they don’t know where to start. The intention is there but the knowledge to execute isn’t. Moreover, there is always the looming factor of money and experience required to run a successful business. But what if we told you that you don’t need either of these to get started on your dream business. Sounds too good to be true? Read along to find out.
The beginner’s dilemma
As a young and potential entrepreneur, several factors negate your entry into the business. There are a lot of things that essentially work as a constraint to your initiative. Many people go into business studies with an aspiration to learn about the quirks of business and startups. But the intensive programs of business schools end up feeding more about business processes, rather than how to get started.
Societal pressure is also something that puts constrains a business. Starting a business is like taking a huge leap of faith since there is no guarantee that you will be successful with your venture. The uncertain future of business is also something that deters people from getting into the business.
However, it's always about taking the first step. You don’t have to have a game-changing idea or tons of money to get started. And, you do not require much experience to be an entreprenur. All you need is perseverance and determination to make things work. You won't see success overnight. Rather it’s a continuous process that will come as you progress. Now the question is, what steps should you follow to get started? Especially if you don’t have the money or skills.
Read:The Difference between a Startup and a Small Business
How to get your business started with no money or skills
Think of an idea
This shouldn’t come as a surprise. All the great startup businesses had one amazing idea which they perfected to make a profitable business model out of it. However, those are mostly chance encounters or results of years of market analysis. Considering you're neither lucky nor have the time to read market briefs, you can still work out an idea.
Firstly, think of your daily life. What constraints are you facing? Is there a better way to do it? Is there anything that can ease up the process? This is a great starting point to generate an idea. Most successful startups started from an idea developed from personal constraints. Something created to address a personal issue can also be turned into a business to solve others' issues.
You can also talk with your friends and families to get their input. Follow the emerging startup business trends as they might inspire you to get started on your hustle. Whatever you think of, make sure you can future-proof it.
Read:Angel Investment 101: Is It the Right Track for Your Startup?
Find the product-market fit
Thought of a viable idea? That’s half the job done. Now you have to perfect the idea to make a viable product that can serve your potential customer. This cycle generally starts with developing an MVP or market viable product. You might be thinking, where are you going to get the money to invest in R&D? Truth is you don’t have to. All you have to do is understand your market, look for the demand of your product, identify your potential client base and see whether there is a profit curve or not.
Undercut your competitor
Regardless of the brilliance of your idea, it's almost certain that you will face competition. What you have to do is to analyze their product and undercut them. Find out details about product quality and pricing. Take their product and compare it with yours. Fix all your lacking and put on a competitive price. That way you will always stay ahead in the market.
Read:Investment Guide: How Bangladeshi Youths Can Invest money and Create Wealth?
Develop a plan of action
Remember we talked about developing skills as you go? For that, you need to set up a clear goal for your business. Every business has a clear mission and vision which motivates the company in its growth. Make sure you have a business plan set up so that you can compare your progress and see where you stack up against your goals.
Get a co-founder
Look at all the successful businesses around you. Hardly any of them are the product of a single mind. A co-founder will not only serve as a valuable strategic input to your business but also be a potential investor. This can be a great way to raise some cash for the MVP we talked about earlier.
If you aren’t so keen on the idea of having a co-founder, you can always look for the investor within your family members and friends. This can be a great financing option if you are going with a small business idea.
Read 8 Mistakes to Avoid in a New Ecommerce Startup in Bangladesh in 2021
Crowdfunding
Remember how we talked about an idea to solve your personal constraint? In addition to solving your problem, it can be a solution for a great many people. And that is where crowdfunding comes in. there are a lot of crowdfunding sites where you can showcase your MVP to get investments. Many niche-based businesses use crowdfunding to kickstart their business idea.
Find an angel investor
If nothing else works, you can always look for angel investors. Angel investors are a wealthy bunch of people who invests in an innovative business idea. You can find someone to invest a hefty amount in exchange for equity in the business. To learn more about angel investment and how it works, you can read our blog here.
Read:Saving vs. Investing Money: Know the Pros and Cons
Bottom Line
Money and skills are important to run a business, but it's not the definitive need to start one. While we tried to outline some basic steps to get you started on your dream business, you should still be aware of the risks that come with entrepreneurship. If you are motivated enough, you can be sure to write a successful rag to riches story of your own.
Robi offers Tk1 lakh life insurance coverage on specific bundle packs
In the wake of the Covid-19 pandemic, Robi is offering Tk1 lakh life insurance coverage to customers on specific bundle packs purchase.
Customers recharging Tk324 or Tk104 will automatically receive insurance coverage and benefits from Health Plus, Robi's digital health platform.
Read: Mobile Insurance Offers in Bangladesh Can Save Lives
Customers can avail 525 voice minutes and 512MB data by recharging Tk324 with 30 days' validity. By recharging Tk104, customers can enjoy 170 voice minutes with seven days' validity. The life insurance amount for both packs is Tk1 lakh.
The validity of life insurance for Tk324 is six months and one month for Tk104. The age limit of the customer for insurance coverage is between 18 to 60 years.
Read: Robi partners with SKS to help Covid-hit low-income people
In case of the death of the registered customer, a nominated person will be able to claim the insurance. The nominee will have to call 28477 to settle the insurance claim, according to a press release.