Business
IBBL opens branch in Dhaka's Kaliganj
Islami Bank Bangladesh Limited (IBBL) inaugurated its Kaliganj branch in Keraniganj upazila of Dhaka Thursday.
Mohammed Monirul Moula, managing director and CEO of IBBL, inaugurated the 381st branch of the bank as chief guest.
Muhammad Qaisar Ali, additional managing director of the bank, presided over the programme.
Abu Sayed Md Idris, head of Dhaka South zone, delivered the welcome speech.
Monirul Moula said IBBL is serving its clients through 381 branches, 202 sub-branches, 2,700 agent outlets and more than 2,000 ATMs and CRM machines.
Md Mizanur Rahman Bhuiyan, executive vice-president of the bank, Md Jahangir Shah, chairman of Aganagar union parishad, and Md Shwadhin Sheikh, president of Keraniganj Garments Babosayee O Dokan Malik Samobay Samiti, addressed the programme as special guests.
Syed Zinder Kabir, head of the Kaliganj branch, thanked the audience, said a media statement.
IBBL board of directors' meeting held
A meeting of the board of directors of the Islami Bank Bangladesh Limited (IBBL) was held Wednesday on a virtual platform.
The meeting discussed the business performance of the bank and took some policy-related decisions.
Professor Md Nazmul Hassan, chairman of the bank, presided over the meeting.
Dr Areef Suleman, foreign director and representative of the Islamic Development Bank; IBBL vice-chairmen Yousif Abdullah Al-Rajhi and Md Shahabuddin attended the meeting.
Mohammed Monirul Moula, managing director and CEO of the IBBL, and JQM Habibullah, deputy managing director and company secretary of the bank, also joined it, said a media statement.
IBBL opens sub-branch in Dhaka's Azimpur
Islami Bank Bangladesh Limited (IBBL) inaugurated a sub-branch in Azimpur of the capital Tuesday.
Mohammed Monirul Moula, managing director and CEO of IBBL, inaugurated the 200th sub-branch of the bank as chief guest.
Md Mahboob Alam, senior executive vice-president of the bank, and Hasibur Rahman Manik, councillor of Dhaka South City Corporation, addressed the programme as special guests.
Mahmudur Rahman, head of Dhaka Central Zone of the bank, presided over the programme; Md Ashraf Ali, head of the New Market branch, delivered the welcome speech.
Mohammad Abdul Haie, in-charge of the Azimpur sub-branch, thanked the audience, said a media statement.
Standard Chartered Bangladesh launches Digital Trade Counter
Standard Chartered Bangladesh on Wednesday launched the country’s first Digital Trade Counter.
This is an online “drop-off” counter, where clients can submit trade transaction applications and related documents, according to a press release.
This innovative, secure and self-reliant platform is low on documentation and high on data security.
Read: Pathao brings down its commission on bike rides
Through this solution, corporate clients can access a paperless, simpler, smarter application and management flow.
Standard Chartered Bangladesh Chief Executive Officer Naser Ezaz Bijoy said that Digitising trade is a critical lever to accelerate economic development and improve productivity.
“In our mission to pioneer a frictionless banking experience, we have introduced yet another digital tool, the Digital Trade Counter. I am sure our clients will benefit from the seamless application process that this Digital Trade Counter will enable.”
Read Robi to represent Bangladesh in Standard Chartered Trophy in UK
The clients can upload their instructions to Bank through this counter from anywhere in the world.
The data on the hard copy forms uploaded on this counter, automatically flows into the Bank’s system and gets registered.
There is no “waiting time” for registering of the transaction. This is an interactive platform, that also informs the clients if any additional documents or information is required to complete the transaction and the clients can then respond to the Bank through this same channel.
Read: COVID-19 pandemic: Standard Chartered Bangladesh contributes USD 1.6 million
The Digital Trade Counter has other unique features that gives the clients many conveniences including shorter turn-around time, real-time transaction tracking, one single page to complete the entire application and enhanced security with an audit trail to ensure full transparency.
The system comes with easy on-boarding that allows more and more clients to get fast access to this counter.
This is another value addition by the Bank to promote trade digitization in the banking industry and enhance the trade experience for Standard Chartered Bank’s clients.
Read Digital deposit collection: Standard Chartered partners with IDLC
Pathao brings down its commission on bike rides
Pathao has brought down its commission on bike rides to allow riders to earn up to 90 percent of the trip fare.
Effective November 25, Pathao will be taking 10 percent of the bike ride fare during peak hours (8 AM to 11 AM and 5 PM to 8 PM) and up to 15 percent during the off-peak hours.
This is the lowest rate of commission charged by any platform in Bangladesh, according to a press release.
Read:Pathao introduces 'Pay Later'
Previously, Pathao charged 15 percent as commission on two-wheel rides in Dhaka and 25 percent in Chattogram and Sylhet. The new commission structure is applicable nationwide.
This change will contribute to making the bike ride-sharing service even more reliable for users, especially during peak hours, as they will now enjoy the greater availability of riders looking to maximise their earnings.
CEO and managing director of Pathao Fahim Ahmed said Pathao has created opportunities for the aspiring riders to earn more and improve their lives.
Read: Pathao users can pay fares through bKash
“With this commission cut, we wanted to recognise the largest and most loyal pool of riders at Pathao, who are ensuring a safe and reliable experience for our users," he said.
Bangladesh should make domestic plan to face post-graduation challenges: Speakers
Bangladesh should adopt a plan to prepare the country’s stakeholders to face and overcome the challenges that will emerge after its graduation to a developing economy in 2026, a discussion was told on Tuesday.
Speakers at the meeting called for starting intense negotiation with the country’s big trade partners like EU, USA, China and India as well as with global organizations to continue with the existing trade facilities for a few more years.
Read: WTO Ministerial: Bangladesh’s focus should be on transition period extension
The Economic Reporters Forum (ERF) organised the workshop at its office ahead of ‘12th WTO ministerial conference’, scheduled to be held from November 30 to December 3, in Geneva in Switzerland.
Commerce secretary Tapan Kanti Ghosh, Additional secretary of the ministry and director general of WTO Cell Md Hafizur Rahman and former member of Bangladesh Trade and Tariff Commission participated in the workshop explaining different rules of WTO, facility and policy of international trade.
Read: WTO rules to help Bangladesh more after graduation: Hasina
ERF president Sharmin Rinvy presided over the function while SM Rashidul Islam, secretary of the organisation moderated the program.
Replying to a question Tapan said that Bangladesh’s exports to the USA, EU nations and India have increased even during the pandemic thanks to government’s policy of supporting businesses, production and export.
SM²: Bangladesh-Focused Seed Accelerator by SBK Tech Ventures, SOSV, Miaki
Bangladeshi is going to see a new world-class seed accelerator “SM²” for the high potential local startups. SBK Tech Ventures along with SOSV and Miaki have taken this initiative which will be launched in November 2021. The program will be based on three seed-stage Bangladeshi startups. However, the detailed plan is yet to be announced. Here is what we know so far about the SM².
What is a seed-stage accelerator program?
You have a brilliant start-up idea, or product and want to launch a company. Money is going to be tight, however, there are some companies or people who can help guide you in the right direction for your business along with the funding in the initial stage. That is what the seed-stage accelerator program is about.
Further, accelerators provide education as well as financial support to young entrepreneurs just starting out with their businesses. These programs vary from several thousand dollars to hundreds of thousands of dollars, depending on what stage of development your business is in when applying and how long it's been operating (e.g., tech start-ups vs other types).
Read Angel Investment 101: Is It the Right Track for Your Startup?
The acceleration process usually takes between three and six months; the beginning stages often consist of individualized meetings with mentors and members working within the program where they discuss your company's goals and the steps needed to get there.
Many programs have a required number of hours that each team must commit to each week, as well as specific office hours set aside for weekly meetings with mentors. However, the seed-stage accelerator works with a limited number of the selected startups in a given period.
Read Seed Fund Raising for Startups: Things to Know About
What is SM²?
SM² is basically an equity-free 6 -month accelerator program that will offer the necessary tools to Bangladeshi startups. Currently, SM² is composed of three partners SBK Tech Ventures, Miaki, and SOSV. However, if you don’t know about them, keep reading and we will discuss each of these founding organizations.
SM² aims to provide guaranteed investment for the selected startups. Each cohort will have 3 Bangladeshi startups and each of them will be selected based on the strength, potential impact, and scalability. Hence, it will be competitive and the best of the best will get the opportunity. So, what benefits will the selected startups get?
Read Re-Commerce Startup SWAP Raise $1.25mn in Seed Funding, Promises New Horizon of Growth
First of all, each of the selected startups will receive approximately $100,000 with the option for follow-up. Secondly, the chosen startups will get access to the tools, mentors, and investors. Further, upon selection, the companies will also get access to the investors’ network, other startups in Asia, and subject matter experts. These will eventually boost their chance of success.
In the first session, SM² has already selected three startups and they will start the journey this November.
Read GP Accelerator Program 3.0: Paving the Way for Successful Startups
SBK Tech Ventures
SBK Tech Ventures is one of the leading startup investors in Bangladesh. Founded by Sonia Bashir Kabir, SBK aims to help startups and support digital developments in several fields such as AgriTech, LegalTech, FinTech, e-commerce, and more. Further, the venture offers fast growth investment opportunities for the companies.
They have already invested in some top startups such as Sheba, Praava Health, Jatri, Deligram.com, and more. SBK has the interest to invest in technology platforms that are scalable and social impact-driven. Moreover, they aim for a market that has a unique value proposition, delivery, and capture.
Read Agro-Tech Startups in Bangladesh: Tech revolution in Agriculture Sector
When it comes to investment SBK looks for a company that can make an impact tackling the root causes of a problem. Moreover, SBK invests in a company that doesn’t create demand, rather works on serving the existing demand.
SOSV MOX
When it comes to investing in startups, there's no better company than SOSV. They have a full-stack model that has delivered net IRR over the last 20 years putting them among one of the best venture funds out there and SOSV doesn't stop at just providing seed-stage funding either!
Read 7 Local Startups Get Tk 150m Funds from Startup Bangladesh Limited
Their vertical programs provide more guidance for talented entrepreneurs building groundbreaking new businesses on every continent around the world. Besides, SOSV MOX also offers invaluable advice on how they can make their ideas come true faster than ever before possible through a unique approach that includes running multiple successful ventures simultaneously.
With the help of SOSV, founders are able to take their big ideas and turn them into reality. The organization provides support for entrepreneurs in various stages including funding through programs like HAX (hardware and connected devices), Chinaccelerator, and MOX (cross-border internet and mobile in Asia).
Read How to Test and Validate Your Startup Idea?
Further, the mentorship from industry leaders who have attained success in entrepreneurship themselves; as well as access to venture capital that can be used outside traditional channels such as blockchain-backed funds. SOSV has been funding more than 150 startups each year. To support the startups SOSV has more than 1000 mentors around the world.
Miaki
Bangladesh-based tech company Miaki is one of the pioneers in digital services for user-centric products. However, they also have experience providing services in Southeast Asia and beyond. Founded back in 2010, they have gained significant expertise to create innovative content such as health care apps, Education, Agriculture, and entertainment including casual mobile gaming platforms.
Read Digital Healthcare Startups in Bangladesh: An Overview
With over a decade worth of experience across different industries including Miaki has a partnership with Robi Axiata to support the young tech entrepreneurs through the National App Store platform known as BDAPPS.
Miaki claims that they have the most qualified resources for providing outstanding service. Further, they always go above and beyond our customers' expectations with a commitment to delivering on projects quickly and efficiently. Moreover, they have round the clock support service.
Read Common Challenges faced by Startups in 2021
Conclusion
The birth of SM² is definitely a new hope for Bangladeshi startups. Hence, some successful startups might emerge in the next few years. The country need more seed accelerator programs like SM².
IBBL opens Kaliakair branch in Gazipur
Islami Bank Bangladesh Limited (IBBL) inaugurated its 380th branch in Gazipur's Kaliakair Sunday.
Mohammed Monirul Moula, managing director and CEO of IBBL, inaugurated the branch.
"More than 1,100 garment industries, 1,000 textile industries and more than 2,500 agro-based factories of the country have been established with the direct investment of Islami Bank," he said.
"Also, the country's largest denim industry and sugar refinery are being run with the investment of the bank."
Islami Bank is providing group-based investment services without collateral through the bank's Rural Development Scheme in 28,000 villages across the country, Monirul said.
At present, the bank is serving its clients through 380 branches, 198 sub-branches, 2,700 agent outlets and more than 2,000 ATMs and CRM machines, he added.
JQM Habibullah, deputy managing director of the bank, addressed the programme as a special guest.
Md Mahboob Alam, senior executive vice-president of the bank, presided over the programme while Mohammod Ullah, head of Dhaka East Zone, delivered the welcome speech and Mohammad Majharul Islam, head of Kaliakair Branch, thanked the audience.
Bank Job Circular: Brac Bank is hiring
BRAC Bank Limited has published a job circular for the recruitment of manpower. BRAC Bank is a private commercial bank in Bangladesh. BRAC Bank Limited has announced a Job circular requirements such as BRAC Bank Limited, a pioneer in SME Banking, delivers a full array of banking services to individuals as well as business entities. The company will have the position of Associate Manager and Creative Visualizer. Interested candidates can apply online.
Position Name: Associate Manager, Brand & Digital Media
Position: No mention
Job type: Full time
Work place: Dhaka
Qualifications: Bachelor's degree in any subject. 3-4 years working experience in Brand & Marketing.
Salary: Not mentioned
Position Name: Creative Visualizer
Position: No mention
Job type: Full time
Work place: Dhaka
Qualifications: Bachelor's degree in any subject. 5 years working experience in Visualizer Design Department.
Salary: Not mentioned
The way the application
Interested candidates can apply through this link. https://bracbank.taleo.net/careersection/external/jobsearch.ftl?lang=en
Application deadline: November 27, 2021
Read:INGO Jobs: Multiple job opportunities at Save the Children
Formulate specific policy for mobile courts, provide restaurants industry status: BROA
The leaders of Bangladesh Restaurant Owners Association (BROA) have demanded industry status for the restaurant sector along with formulating a specific policy operating mobile courts in the restaurant.
They alleged that a frightening atmosphere has been created in the restaurant sector in the name of mobile courts recently.
At a press conference on Saturday, the leaders of the association said that seven government agencies are operating mobile courts. They said that the bureaucrats are creating an anarchic situation in the country in the name of mobile courts.
Secretary General of the organization Imran Hasan raised various demands at the press conference. The president of the organization Osman Gani and other leaders were present at the time.
Imran Hasan said there are four lakh restaurants across the country. Almost 30 lakh workers are employed in the sector. “But it remains neglected as it is not given the status of an industry,” Imran said.
He further said that in order to run the restaurant sector, one has to work under 11 agencies. Entrepreneurs have to be harassed to get new licenses or renewals.
He demanded to get permission from one agency through one-stop service.
BROA said it was informed at the press conference that Electronic Fiscal Devices should be given to everyone.
However, since the government will use the EFD machine to collect revenue, it was demanded at the press conference that no fee be charged for it.
They demanded an end to harassment in house rent for restaurants.