Internship program at Grameenphone

It's a whole new corporate experience that comes with exciting perks & benefits
Hands-on experience in the country's finest corporate environment
Above all it is a source of talent acquisition for US and a gateway to employment at GP for YOU!

In Grameenphone Ltd., Internship program at Grameen phone starts in 3 sessions per year:

January Session: [Jan � Apr]	May Session: [May � Aug]	September Session: [Sep � Dec]
Application period: 1 November to 15 December	Application period: 1 March to 15 April	Application period: 1 July to 15 August
Assessment period: 1 December to 31 December	Assessment period: 1 April to 30 April	Assessment period: 1 August to 31 August
Internship period: 7 January � 7 April	Internship period: 7 May to 7 August	Internship period: 7 September � 7 December

Internship Period: 3 Months [May be extended based on project/assignment requirement]

Qualifications of Applicants:

�         The applicants must be third-year or fourth-year university students

�         The applicants must have skills required by work units

�         The applicants must have good attitude towards life and work

�         The applicants must be energetic and ready to learn new things by doing

Place of Internship:

Dhaka and some regions Preference may be given during application

How to apply:

Email to recruitment@grameenphone.com the following:

�         Complete CV, highlighting your interest area, achievements (if any), experience and extracurricular activities (if any)

�         A cover letter in the email body explaining your interest for Internship at Grameenphone Ltd.

�         In the subject line, mention Internship application for Session (January/May/September)

�          

Required documents at Joining:

Once you are selected for an Internship program at Grameenphone Ltd., you will be required to provide the following documents:

�         Forwarding letter and current transcript from the Applicant's University

�         HSC Examination / A Level's certificate and mark sheet

�         SSC Examination OR O Level's certificate and mark sheet

�         Student ID card

�         National ID card/ passport

�         2 copies Passport-size photographs

Completion of Internship Program:

Interns at the end of the program will be required to submit a report to the company on the project assigned to them. After report submission, an internship completion letter will be issued to the Intern.

For more information, please contact recruitment@grameenphone.com(In the subject line, mention Internship)

Brac Bank Flexi Deposit Premium Scheme (Flexi DPS)

Brac Bank DPS

Brac Bank Flexi Deposit Premium Scheme is a non-transactional account that a customer uses for interest earning and savings purposes through monthly instalment basis. Minimum amount required to open an FDPS account is BDT 500 and its multiples. FDPS can be opened for 1/2/3/4/5/6/7/8/9/10 years. This account is available on a roll over basis until the customer authorizes its closure. Interest is accrued to the FDPS account on monthly basis. Interest (after adjusting 10% Government tax on the interest amount) will be paid at maturity date, as per the Interest Rate Matrix as below

**All the figures are Indicative and subject to govt. taxes.

For any banking needs please call 24 Hour Call Centre 16221 or e-mail us at enquiry@bracbank.com

SCBs apply for upward revision of loan ceiling

Three state-owned commercial banks � Sonali, Janata and Rupali � applied to Bangladesh Bank to increase their credit ceiling considering the banks� financial health, said officials of the central bank.

According to BB data, the central bank earlier set credit growth targets for Sonali Bank, Janata Bank, Agrani Bank and Rupali Bank at 6 per cent, 10 per cent, 10 per cent and 12 per cent respectively for 2014 from 8 per cent, 12 per cent, 10 per cent and 10 per cent for 2013.

Against the central bank move, the board of directors of the three SCBs, except Agrani Bank, applied to the BB last week to increase their credit ceiling for 2014.

The Sonali Bank board requested the central bank to increase its credit ceiling to 10 per cent from the BB�s ceiling of 6 per cent and Janata Bank to 12 per cent from the ceiling of 10 per cent, a BB official told New Age.

The board of Rupali Bank, however, did not mention its expected credit ceiling, but the bank requested the central bank to reset the ceiling on the basis of its reasonable business background, he said.

According to Rupali Bank application, the bank appealed to BB to increase the credit growth in accordance with its deposit collection from the clients.

Sonali and Janata requested the central bank to reset their credit ceiling on the basis of their large business profile and financial health.

The three banks said that credit disbursement was one of the major indicators for any bank to earn operating profit.

The central bank may deny the proposals of the three banks to increase their credit ceiling although it is yet to take decision formally in this regard, the BB official said.

Another BB official said that the central bank had set the limited credit growth targets for the SCBs for 2014 to reduce their high volume of default loans, expedite their loan recovery rate and improve their core risk management operations.

The BB started to set lower credit ceiling for the state-owned banks since 2013 as the financial health of the banks deteriorated massively in the period due to scams and corruptions.

The central bank unearthed a number of loan scams in the past few years including Hallmark Group, Bismillah Group and S Alam Group loan scams at Sonali and Janata banks and that was one of the key reasons for lowing the credit expansion targets for the two SCBs, he said.

The central bank set the credit ceilings in accordance with the memoranda of understanding signed between the BB and the SCBs.

Under the MoUs, the BB calculates the credit ceiling excluding farm loans, staff loans and government borrowing to be provided by the four banks.

The BB data showed that the four banks except Rupali failed to achieve the credit growth in 2013 set by the BB.

In 2013, Sonali Bank posted a 7-per cent negative credit growth, Janata Bank a 1.15-per cent growth and Agrani Bank a 0.63-per cent negative growth.

Rupali Bank, however, registered a credit growth of 13.98 per cent, surpassing the ceiling of 10 per cent set by the central bank.

The BB official said the SCBs had adopted cautious policy to disburse loans in last year that decreased the credit growth at the three banks.

Besides, political unrest in the run up to the national elections held on January 5 also created an adverse impact on their credit growth as the majority of businesspeople were reluctant to take bank finance in the period, he said.

News Source: New Age

Date:- 21-Apr-2014

Banks asked to submit forex statements thru BB web portal

Bangladesh Bank on Sunday asked scheduled banks to submit their foreign exchange transaction-related statements through a central bank�s web portal instead of their existing manual-basis posting.

To this end, the BB issued a circular to authorized dealer branches of all banks asking them to submit their seven types of daily and monthly statements of foreign exchange-related transactions through the central bank web portal. The BB circular said that the central bank had made a web portal-based platform named �Online Foreign Exchange Market Monitoring System� in a part of its ongoing automation program. The seven types of statements, which will be submitted through the web portal, are: daily statement of inter-bank and cross boarder foreign exchange transactions, daily statement of foreign exchange rates, daily statement of deal rates with exchange houses, daily statement of quoted rates to exchange houses, daily statement of day-end balances in nostro accounts, monthly statement of unadjusted entries of nostro accounts, and monthly foreign exchange inflow-outflow statement.

The BB asked the banks to submit the five types ofdaily-basis statements from April 1 and the monthly-basis statements from May 2 of this year through the web portal on experimental basis while the banks will also have to place the statements on manual-basis. The AD branches of the banks will have to submit the statements from July 1 on regular basis. A BB official told New Age on Sunday that the central bank�s monitoring system on the country�s foreign exchange market would be eased more as the BB would be able to analyses the data through online. Under the circumstances, the foreign exchange-related fraudulent acts will also decrease in the months to come, he said.

News Source: New Age

Date: 31-Mar-2014

Weak state banks pose risks to economy: study

 The banking sector is seriously vulnerable to economic shocks, mainly due to the poor performance of state owned banks, Business Monitor International (BMI), a London-based research firm, found in a recent study. The state banks have racked up a large amount of non-performing loans on their books, creating a flaw in the banking system, the study said. �This makes the banking system extremely vulnerable to shocks and impedes the efficient allocation of financial resources in the economy,� the BMI said in its Bangladesh Commercial Banking Report 2014. �Weak balance sheet brings risks to privatization of state-owned banks. �As of September 2013, the gross non-performing loan ratio of state banks stood at an elevated 28.8 percent, an increase from 2011's 11.3 percent and 2012's 23.9 percent, while the specialized banks' gross NPL ratio remained high at 29.4 percent, it said.  The amount of default loans at the state banks was Tk 16,606 crore or 19.76 percent of their outstanding loans on December 31 last year, according to Bangladesh Bank. Despite various reforms, the banking sector's health remains poor, and �a greater concerted effort from the regulators, specifically targeted at state-owned banks, is clearly warranted,� the study said.As of September 2013, capital shortfall at state banks stood at Tk 8,860 crore, and the government has already disbursed Tk 4,100 crore to strengthen their capital base, the BMI said.

The study also said last year's political unrest marred Bangladesh's image abroad. A total of 206 fatalities "due to Islamist terrorism" have been recorded up to August last year, which is staggering three times more than the total over the past eight years, according to the study. The report said the total assets of banks are expected to rise by more than 2.5 times to Tk 1,864,280 crore in 2018, from Tk 708,410 crore in 2012.Even in the gloomy outlook, some points to cheer remain, it said. The Financial Action Task Force, an inter-governmental body for monitoring countries that are strategically deficient in their compliance with its anti-money laundering and counter-terrorism financing rules, has recently removed Bangladesh from its watch list. �This reflects the significant progress that has been made by Bangladesh to combat money laundering and terrorism financing in its banking system,� it said. 

While the central bank has relaxed its loan rescheduling policy to help affected businesses, this temporary Measure is unlikely to provide much reprieve to the continued deterioration in asset quality, the BMI said.

Bangladesh has 56 banks including nine new ones. Four state-owned banks -- Sonali, Janata, Agraniand

Rupali-- hold around a quarter of total industry assets and roughly a fifth of total outstanding loans.

News Source: The Daily Star

Date: 30-Mar-2013

Atiur for socially responsible financing

Bangladesh bank�s governor Mr. Atiur Rahman emphasized that higher access to finance enhances social and economic stability.

Bangladesh Bank Governor Atiur Rahman has advised financial regulators to focus on financial inclusion including micro-insurance, micro-finance and socially responsible financing (SRF) for ensuring economic stability.

Addressing the 24th meeting of the Council and the 12th General Assembly of Islamic Financial Services Board (IFSB) in Brunei Darussalam yesterday, he made the call saying that financial inclusion and SRF would not only for improving the condition of the disadvantaged, but also for wider objective of achieving financial stability.

Islamic Development Bank (IDB) president, governor of Sudan and chairman of Financial Supervision Authority of Indonesia supported Dr. Rahman�s views on micro-finance including Islamic micro-finance, according to a BB press release issued here.

Dr. Rahman also suggested IFSB to do more research and advocacy on capacity building of different central banks on their regulatory and supervisory role related to Islamic financing.

In addition to attending the Council meeting, the BB governor joined in the annual general meeting and a public lecture on financial stability.

News Source:Daily Sun

Date: 29-Mar-2014

IBBL signs remittance agreement with UAE Exchange of Malaysia

Islami Bank Bangladesh Limited signed a remittance agreement with UAE Exchange of Malaysia on providing safe and rapid remittance services to expatriate Bangladeshis through banking channel. The agreement was signed in presence of Mohammad Abdul Mannan, Managing Director of Islami Bank Bangladesh Limited , said a press release. Bazlur Rahman Khan, Director, UAE Exchange, Md. Mahbub-ul-Alam, DMD of the bank and Sontosh Nayar, CEO, UAE Exchange of Malaysia signed the agreement on behalf of their respective sides at Islami Bank Tower recently.

News Source:Daily Sun
Date:1-Apr-2014