Islami Bank Bangladesh Limited (IBBL) has recently inaugurated seven new branches across the country.
The branches were opened at Karnafuli, Gunagori, Patenga, Terri Bazar and Chowdhury Hat in Chattogram, Bera in Pabna and Kalir Bazar in Gaibandha on Tuesday at a virtual platform.
Md Mahbub ul Alam, Managing Director and CEO of the bank was the chief guest in the programme presided by Md Mosharraf Hossain, Deputy Managing Director of the bank.
Also read: IBBL opens banking booth at Mohammadbag
Mohammed Monirul Moula, Muhammad Qaisar Ali and Md. Omar Faruk Khan, Additional Managing Directors of the Bank addressed the programme as the special guests.
High officials of the bank, heads of concerned zones & branches, executives, officials, clients, well-wishers & dignitaries participated in the function.
Md Mahbub ul Alam said IBBL has become an institution of national trust and confidence in the country.
Also read: IBBL Dhaka zone holds online conference
“IBBL contributes significantly to national foreign exchange reserve by collecting more than one-third expatriates’ remittance”, he added.
As per 2020 Campus Track Survey, bKash, the largest MFS provider in the country, has emerged as the number one ‘Employer of Choice’ among 53 multinational and local companies of all sectors.
bKash has also been chosen as the 'Dream Employer' for the 2nd year in a row with significant margin in both categories, said a press release.
Final year BBA & MBA students of 2020 from selected top 16 universities in Bangladesh took part in the survey including IBA- University of Dhaka, IBA- Jahangirnagar University, Bangladesh University of Professionals, Rajshahi University, Khulna University, Chittagong University, North South University, BRAC University and so on.
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Nielsen, a globally reputed organization specialized in research, conducted the survey.
The survey was carried out based on three parameters: i) Industry Preference, ii) Job, Salary and Campus Activities and iii) Aspirational Factors. In terms of Campus Recruitment Index (CRI) across all organizations, bKash excelled in all parameters with its campus activities, students’ preference, attractive salary range, work environment, growth opportunity and job security.
During the survey, the final year business school students mentioned mostly about Multinational FMCG and Financial Technology (Fintech) or Mobile Financial Services (MFS) sectors in terms of best career opportunity for employment; this was followed by Banking and Telecom sector. In terms of CRI (across all industries), bKash appeared as top-of-the-list among all 53 multinational and local companies.
bKash was able to retain its first position as the ‘Dream Company’ due to goodwill of the company and good work environment. In “Best selection process” dimensions, bKash has also secured the top position.
bKash also offers Management Trainee (MT) program in different universities and as per the survey, bKash MT program became the best MT program among all the companies. In addition, it arranges grooming and knowledge-sharing sessions for students on relevant topics. Along with these, bKash also provides paid internships where students go through an enriching learning experience on Fintech by managing projects that have a direct impact on the business.
Prime Bank has recently launched a state-of-the-art real-time remittance service - RemitPrime - for its subsidiaries in Singapore and the United Kingdom (UK).
This is the first real-time, online platform launched by a Bangladeshi bank abroad, according to a press release.
Expatriate Bangladeshis sent US$ 436.2 million home last year, according to the Bureau of Manpower, Employment and Training (BMET). In the same year, expatriates from the UK remitted $1.41 billion.
Through RemitPrime, expatriate Bangladeshis can transfer remittance in real-time to any account of Prime Bank and to any bKash wallet across the country.
For all other banks, remittance will be transferred instantly as per the BEFTN transaction cycle.
Along with remittance, the new service also ensures payment of 2 percent incentive instantly.
RemitPrime also provides real-time information on the transaction to its users.
Expatriates from Bangladesh, India, and the Philippines, residing in Singapore, can now send money to their respective home countries through RemitPrime services by downloading Prime Bank’s Internet Banking mobile app ‘Prime Bank App’ from ‘Apple’s App Store’ and ‘Google’s Play Store’ or by logging in www.remitprime.com.
Prime Bank has plans to extend its online remittance payment services to major remittance corridors like US, EU, Gulf countries, Japan, Korea, Malaysia and so on.
Prime Bank's Acting Managing Director and CEO Faisal Rahman said, “Our customers maintaining accounts with Prime Bank will enjoy real-time fund transfer against their remittance from abroad. We also can make transfers to bKash accounts in real-time with RemitPrime.
“With this new service, our customers are enjoying the convenience of receiving remittance at their doorsteps round-the-clock. We believe these services will inspire expatriate Bangladeshis to send more money through the legal channel and boost the flow of remittance into the country. The remitters from other major corridors like KSA, Malaysia, and other countries will also receive similar facilities soon."
Highlighting the capabilities of the RemitPrime mobile applications, Shams Abdullah Muhaimin, Prime Bank's Head of Transaction Banking, said: “RemitPrime platform is built on a machine learning technology which has automated majority of manual activities.
“The system can process thousands of transactions in minutes with real-time fund transfer to beneficiary accounts 24X7. The mobile app version of the application is first of its kind launched by a local bank overseas.
“The system can now be offered as a white-label solution to different overseas remittance service providers working in the Bangladesh corridor.”
Prime Bank has two remittance subsidiaries, one is in Singapore - Prime Exchange Co Pte Ltd- which has three branches located at Desker Road, Jurong East and at Joo Koon.
Another is in the UK named PBL Exchange (UK) Ltd having three branches in London, Birmingham and Oldham and 35 agent locations well distributed throughout the UK.
Country’s electronics giant Walton Hi-Tech Industries Limited has been awarded the long-term AAA credit rating for the last financial year 2020.
The capital market-listed electronics company secured the highest credit rating for the fifth consecutive time.
The ‘AAA’ is the highest credit rating of an organisation which indicates the maximum ability of the financial institution to fulfill its financial commitments and the risk of business and financial transactions is minimal.
According to Dhaka Stock Exchange, this year Walton Hi-Tech Industries Limited achieved the long-term AAA and the short-term ST-1 credit ratings from Emerging Credit Rating Limited (ECRL). ECRL has given this rating to the company after reviewing the financial statements of Walton Hi-Tech Industries Limited and other financial information from financial year 2019-20 until September 30, 2020 of the current financial year.
Dwelling on such great success, Walton Hi-Tech Industries’ Managing Director Golam Murshed said, ‘Securing the highest credit rating ‘Triple-A’ for the fifth consecutive years is really a great achievement for us. This has been made possible mainly due to Walton’s experienced board of directors, modern and scientific management methods, world-standard corporate culture, quality product and service management, strong competitive position, highest quality capital management, ability to meet financial commitments and strong liquidity position. Walton is a trusted name to all parties including investors, business partners, retailers and customers. This achievement is the evidence of that trust.’
Earlier, the company received the AAA rating in the financial years of 2018-19, 2017-18, 2016-17 and 2015-16.
Following the Dutch method for the first time in the country’s capital market, the cut-off price per share of Walton was set at Tk 315 with the proposed rates of the eligible investors during the bidding of price discovery of Walton’s share from to 5 March this year.
Through the IPO lottery, Walton allotted 1.55 million shares to the general investors at Tk 252 each, a 20 per cent discount on cut-off price, as the company gave 10 per cent additional discount considering the interest of the capital market and small investors.
Local electronics giant Walton has honoured the country’s frontline healthcare workers for their exceptional medical services amid Covid-19 to protect people while putting their own lives at stake.
To recognise such sacrifices, Walton’s washing machine department arranged the event “Health Care Heroes” in the capital on Friday.
The company honoured 30 physicians and five nurses of different medical colleges, hospitals and institutions with a crest and an advanced Walton washing machine.
Also, Walton gave Tk1 lakh each to the families of two physicians who died while treating Covid-19 patients.
Read Also: Walton shares Tk 77cr profits with employees
Walton Hi-Tech Industries Director SM Mahbubul Alam said, “The country’s physicians, nurses and healthcare workers carried out their regular medical services to control deadliest Covid-19 pandemic, while risking their own lives. I think that this sacrifice should be recognised.”
Prominent educationalist Syed Anwar Husain thanked the initiative of honouring the country’s physicians, nurses and healthcare workers, and hoped that other businesses would also follow suit.