Leaders of non-banks or non-bank financial institutions (NBFIs) on Tuesday said they would come forward to revive the country's economy in the face of ongoing COVID-19 crisis by working on liquidity crisis, enhancing internal economic capacity and supporting the bond market.
They made the remarks at an online press conference with the newly-appointed committee members of Bangladesh Leasing and Finance Companies Association (BLFCA).
Highlighting the success of the financial institutions, BLFCA Chairman Mominul Islam, also managing director (MD) and CEO of IPDC Finance Limited, said, NBFIs have been contributing to the socio-economic development of the country for the past few years.
Currently 33 financial institutions with their 28 branches and 6,358 officers are serving 255,000 customers across the country.
“By now, we have provided 7.4 percent loans to the banking sector, 13.3 percent to SMEs, 12.3 percent to industries, 45.5 percent to depositors, and 18.4 percent to general people,” he added.
He also mentioned that the capital capacity of the institutions is 16.9 percent while the capacity of the banking sector is 11.6 percent. NBFIs are also 1 percent ahead of them in terms of growth.
BLFCA Executive Member Arif Khan, also MD and CEO of IDLC Finance Limited, said nobody wants to invest in private financial institutions due to a high rate of government treasury bills.
“In order to enhance the bond market, the government has to pay more attention to mutual funds. If the bond market develops, the banking sector will also develop,” Arif khan added.
Golam Sarwar Bhuiyan, Abu Zafar Md Saleh, vice-chairmen of BLFCA, SM Shamsul Arefin, its executive member, among others, spoke at the occasion.
Islami Bank Bangladesh Limited has inaugurated its Bolirhat sub-branch at Khaja road, East Sholoshohor under Bahaddarhat Branch in Chattogram.
Mohammad Yakub Ali, executive vice president and head of Chattogram South Zone of the Bank inaugurated the sub-branch as chief guest on Sunday, said a press release on Tuesday.
Md. Nayer Azam, senior executive vice president and head of Chattogram North Zone addressed the program as guest of honor.
Meah Md. Barkat Ullah, executive vice president and head of Agrabad Corporate Branch and Md. Abul Kalam Azad, senior vice president and head of Jubilee Road Branch addressed the program as special guest.
Presided over by Mohammed Abdul Azim, senior assistant vice president and head of Bahaddarhat Branch, S.M. Khurshed Alam Chowdhury, in-charge of the sub-branch thanked the audience.
Businesspersons, professionals and social elites were present on the occasion.
The Board of Directors of Dutch-Bangla Chamber of Commerce & Industry (DBCCI) has expressed deep shock over the demise of Nurul Islam Babul, Chairman of Jamuna Group.
"Our condolences to all of his beloved family members, supportive colleagues, friends and patrons," DBCCI said in a message on Tuesday.
"Our collective hearts are heavy with sympathy. We pray for his departed soul. May Almighty have mercy him and may rest in eternal peace. Prayer for the families lost their beloved, may Almighty hold them close and comfort them in their grief," the message reads.
The Jamuna Group chairman breathed his last at Evercare Hospital on Monday at the age of 74.
Nurul Islam, also the founding chairman of Daily Jugantor and Jamuna Television, had been undergoing treatment at the Evercare Hospital since June 14 after he tested positive for coronaviurs.
Born in Noakhali in 1946, he founded Jamuna group in 1974 and established 41 organisations in industries and service sectors.
He was the chairman of Jamuna Group -- one of the biggest conglomerates in the country. Jamuna Builders Ltd, Pegasus Leathers Ltd, Jamuna Future Park, Jamuna Power Ltd, are among his business units.
Jamuna Group deals with electronics, cloths, woven garments, chemicals, leather, beverage, motorcycle, toiletries, and construction sectors. Jamuna Future Park and Marriott Hotel are the part of the Jamuna Group.
Nurul Islam, one of the prominent industrialists of the country, left behind his wife Salma Islam, MP and former state minister for women and children affairs; son Shamim Islam, managing director of Jamuna Group; three daughters -- Rozalin Islam, Monika Islam and Soniya Islam; and a host of relatives to mourn his death.
He had also taken up an initiative to build an international standard coronavirus treatment facility near the 300 ft road in the Kuril area of the city.
The business magnate has donated Tk 10 crore to the relief fund of Prime Minister Sheikh Hasina to fight against Covid-19 pandemic, DBCCI said.
Huawei has stated its plan of creating a sustainable future by releasing its Sustainability Report 2019.
The report explained the progress that Huawei has made in supporting network stability and security, reducing emissions, responding to climate change, implementing its TECH4ALL digital inclusion action plan, and supporting the UN’s Sustainable Development Goals (SDGs) over the past year, the company said in a press release on Monday.
Supporting network stability remains a major part of Huawei’s social responsibility and mission, it said.
During emergencies like earthquakes, typhoons, tsunamis, and even armed conflicts, Huawei said its employees remain in the heart of the crisis to restore communications networks and support smooth network operations.
Last year, Huawei maintained network availability during more than 200 major events and natural disasters.
Liang Hua, Chairman of Huawei, said, “We’ve worked day and night to patch the holes in this beleaguered business of ours, ensuring business continuity and the timely delivery of products and services to our customers.”
“We’ve helped roll out networks worth hundreds of billions of dollars in more than 170 countries,” he said.
Huawei also disclosed its mid- and long-term targets for carbon emissions reduction, circular economy, and renewable energy, as well as its progress in 2019.
Working towards emissions reduction, the energy efficiency of Huawei’s main products was improved by up to 22 percent. In 2019, Huawei used 1.25 billion kWh of clean energy, which is equivalent to reducing 570,000 tons of CO2.
To contribute to a circular economy, Huawei is committed to maximising the utilisation of resources throughout the product lifecycle.
For example, 86 percent of the products returned to the company were reused, and only 1.24 percent of its e-waste was landfilled.
Huawei said in the report that ICT would play a critical role in achieving the UN’s SDGs and called on the whole industry to work together to promote socio-economic development, environmental protection, and the well-being of humanity.
Tao Jingwen, a board member and Chairman of the CSD Committee of Huawei, said, “Huawei believes in openness and collaboration for shared success. We’re working with industry partners, such as our suppliers, to build a thriving industry ecosystem.”
A youth has become millionaire after purchasing a Walton refrigerator from a Walton showroom at Khansama Bazar in Dinajpur.
“Lucky winner Ranjit Chandra Roy, an office assistant of the Khansama Upazila Project Implementation Office, was handed over a cheque of Tk 10 lakh in Dinajpur town,” Walton said a press release on Monday.
Walton has been offering the cas award under the ongoing ‘Digital Campaign Season-7.’
Ranjit said he would build a house with the money for his parents at Pirganj in Thakurgaon district.
On June 6, Ranjit purchased a refrigerator with Tk 18,000 as installment from the showroom in a bid to help his pregnant wife’s household chores.
He received a SMS on his mobile phone from Walton informing him about the prize.
Walton is conducting the ‘Digital Campaign’ across the country to accelerate the initiative of building a customer database for delivering online based swift and best after sales service.
Under Season-7, lucky customers will get Tk 10 lakh through purchasing any model of fridge, washing machine or microwave oven from Walton plaza, distributor outlet and E-Plaza across the country, the release said.
Besides, customers will get sure cash vouchers worth up to Tk 1 lakh.
Earlier, Wazed Ali, a tailor from Gazipur, Solaiman Haque, a towel vendor from Naogaon and Chaithwai Aoung Marma, a poultry trader Rangamati, also became millionaires after purchasing Walton refrigerators.
Walton has about 150 models of frost, non-frost refrigerators, freezers and beverage coolers in the local market with prices ranging from Tk 10,990 to Tk 69,900.
Walton refrigerators received several standard certifications at national and international level including BSTI’s ‘Five Star’ energy rating, ISO, OHSAS, EMC, CB, ROHS, SASO, ESMA, ECHA, G-Mark, E-Mark etc. Walton made refrigerators are being exported to different countries.
The company provides a one-year replacement facility for fridges along with a 12-year guarantee for compressors.