Local-Business
BB will start exchange of new notes from March 31
On the occasion of holy Eid-ul-Fitr, Bangladesh Bank (BB) will start releasing new notes in the market through banks from March 31.
Common people can exchange new notes till April 9 except on weekends and public holidays.
According to the central bank, from March 31, new notes will be exchanged among the public through the counters of different branches of the central bank.
Besides, new notes of Tk 5, 10, 20, 50, and 100 will be exchanged in a special arrangement from 80 branches of different commercial banks in Dhaka, Gazipur and Narayanganj.
A person cannot exchange taka for new notes more than once, said the BB.
Probashi Palli becomes land partner of Nagad’s mega campaign
Purbachal Probashi Palli Group, a leading real estate company in Bangladesh, has joined hands with Nagad, the country’s leading mobile financial service provider, as the land partner for the ongoing mega campaign named “Nagad e Jomi”.
Under the campaign, the MFS operator has now offered its users an opportunity to win land in Dhaka and many other exciting gifts worth Tk 20 crore on transactions using this MFS.
Recently, Nagad entered an agreement with Purbachal Probashi Palli at the former’s head office.
Md Shafayet Alam, executive director at Nagad Ltd. and Mahbubur Fahim Rahman, director of Probashi Palli Group, signed the deal on behalf of their respective sides, said a press release on Wednesday.
Imran Haider, head of Marketing Operations and Trade Marketing at Nagad Ltd., Mohammad Zamiur Nasim Rahman, director at Probashi Palli Group, Rifat Ahmed Shyamal (Sales and Marketing), and Md Zafar Iqbal Khan, executive director (Sales and Marketing) were also present at the signing ceremony.
Nagad now offers land in Dhaka on transactions
Last year Nagad’s BMW mega campaign generated a significant buzz within the country. Besides, customers grabbed sedan cars, motorcycles, and other gifts through Nagad payments. This year Nagad has come up with launched the country’s biggest campaign, allowing its users to win dream plots at Probashi Palli in Dhaka by following three easy steps.
Moreover, customers can enjoy 100 percent cashback alongside an opportunity to win mega gifts, including hundreds of motorbikes, TVs, fridges, smartphones, and many more on individual transactions.
To participate in the campaign, a Nagad customer first must either make a minimum of BDT 100 mobile recharge or a minimum of BDT 500 payment, or a minimum of BDT 1,000 add-money. Following any of the three transactions, they will instantly get a message that will confirm their eligibility to take part in the campaign.
Nagad offers Tk 500 cash bonus on Visa card add-money
Then, a participant will create a team of three having active Nagad accounts, including himself/herself, and everyone in the team will have to remain active in transactions during the campaign period to stay in competition to win land in Dhaka. Customers can also win land by receiving a minimum of BDT 5,000, excluding government incentives, in remittances through Nagad.
Nagad users can form groups through the Nagad app or by sending an SMS to 26969 using following the format: NGD<space>OPEN<space>Member 1 Nagad Number<space>Member 2 Nagad Number. Besides, they can also create groups by directly going to the link: nagad.io/jmi.
A group creator will be known as the group leader and after successfully creating each group, the leader will receive a voucher as a reward, which will be notified through a confirmation SMS.
Nagad customer info secure, no possibility of unauthorised access, says the company
A Nagad user can create an unlimited number of groups and any Nagad user can be a member of an unlimited number of groups. Once the group is successfully created, each member must initiate at least one transaction per calendar month (except Send Money) to remain eligible for the campaign. To access group details, each group leader will receive an access code, which must be used to log in to the microsite. The leaderboards of the groups making regular transactions will be updated on the Nagad website regularly. All such information will be available at this link: nagad.io/jmi. Starting on 15 March 2024, the campaign will continue till June 30.
Regarding this mega campaign, Md Shihab Uddin Chowdhury, deputy managing director of Nagad Ltd., said, “We always want to stand by people in fulfilling their dreams. Owning a piece of land is a dream for the people in our country. So, we want people to fulfill their dreams during this festival initiated by Nagad. Purbachal Probashi Palli has joined hands with us in this endeavor. We hope our customers will feel more encouraged to digital transactions now.”
Germany's experience in technology can help Bangladesh develop wind power: Nasrul
State Minister for Power, Energy and Mineral Resources Nasrul Hamid said Germany's experience in wind technology can make a special contribution to Bangladesh's wind power.
He said this during a meeting with Dr. Barbel Kofler, German Parliamentary State Secretary of the Ministry of Economic Cooperation and Development in Berlin on Tuesday.
During the meeting they discussed various issues of mutual interest.
The State Minister also said that Cooperative efforts between Bangladesh and Germany in the field of renewable energy will have a positive impact.
He noted that Bangladesh is successfully implementing the Solar Home System Programme with special emphasis on innovation and resilience.
“This groundbreaking initiative is attracting rural communities to clean and sustainable energy sources; At the same time, they are self-reliant by realising their hopes and aspirations”, he told the German State Secretary.
He said that the solar home system programme not only lights the house but also brings a light of hope to those who were previously in darkness.
Additionally, Bangladesh has announced its commitment to renewable energy and climate resilience through initiatives such as the Mujib Climate Prosperity Plan.
By leveraging global partnerships and resources, Bangladesh is committed to mitigating the effects of climate change, he added.
The state minister also said that the recent commissioning of a 60 MW onshore wind power has marked a significant milestone in Bangladesh's progress in the field of energy.
This achievement not only highlights Bangladesh's commitment to reduce its dependence on traditional energy sources but also shows its willingness to cooperate with developed countries including Germany in renewable energy.
The state minister said the innovation and partnership are a green signal for future generations of both the countries. This green signal will set an example for others to follow.
The Parliamentary State Secretary of Germany expressed interest in the overall situation of electricity and energy in Bangladesh and said that Germany will cooperate in the development of renewable energy in Bangladesh.
GP partners with USAID to drive clean energy policy in Bangladesh
In a bid to accelerate the adoption of sustainable energy solutions, telecommunications giant Grameenphone has joined forces with Tetra Tech, the implementing partner of the USAID Bangladesh Advancing Development through Energy (BADGE) Project.
The collaboration, marked by the signing of a Memorandum of Understanding (MoU), aims to develop a policy framework for corporate power purchase agreements (CPPA) in Bangladesh.
CPPA models enable businesses to procure electricity directly from renewable sources, such as wind, solar, hydro, or biomass power plants, bypassing traditional utilities. This move empowers corporations to reduce their carbon footprint and support sustainable energy production.
The MoU signing ceremony, held at the GPHouse in Dhaka on March 18, saw the participation of key stakeholders from both organizations, including representatives from Grameenphone, Tetra Tech, and USAID Bangladesh. During the event, Hans Martin Hoegh Henrichsen, Chief Corporate Affairs Officer at Grameenphone, emphasized the company's commitment to sustainability and its urgency to develop a CPPA policy framework to meet climate targets.
Randy Ali, Deputy Mission Director of USAID Bangladesh, praised the partnership as a significant step towards promoting renewable energy solutions in Bangladesh. He highlighted the importance of private sector collaborations in driving progress towards a greener future.
Ed Elrahal, Chief of Party at the USAID BADGE Project, emphasized the role of CPPAs in combating climate change and fostering a sustainable energy future. He underscored the benefits of corporate electricity procurement from renewables in achieving environmental and sustainability goals.
BRAC Bank relocates branch in spacious new premises on Madani Avenue
BRAC Bank has opened a relocated branch in spacious new premises on Madani Avenue at Gulshan in Dhaka city.
This branch has been shifted from Natun Bazar and renamed the Madani Avenue Branch.
At the spacious new location, the branch will be able to provide the most modern and the best-in-class customer service to the valued customers.
This relocation signifies BRAC Bank's commitment to continuously elevating its customer service standards using modern infrastructure.
Selim R. F. Hussain, Managing Director & CEO, BRAC Bank, formally inaugurated the branch at Grameen Banglar Akshay Tower on Madani Avenue on March 13.
Sheikh Mohammad Ashfaque, Head of Branches, BRAC Bank; attended the inauguration ceremony.
A.K.M. Tareq and Taher Hasan Al Mamun, Senior Zonal Heads, and senior bank officials were also present.
On this occasion, Selim R. F. Hussain, said, “As a member of the larger BRAC family, BRAC Bank strives to reach out to more people in new areas. BRAC Bank’s best-in-class services will bring in new propositions to individual customers and business clients in this financially important area as their partner in prosperity."
He said that with enhanced presence of the bank in the Gulshan area, locals will enjoy the most modern online banking solutions at their convenience.
“As we move here, we promise a ‘delightful customer experience’ for the neighbourhood's people. With the blend of a physical branch network and convenient digital banking capabilities, we are committed to being the country's number one sustainable bank," he added.
With 187 branches, 40 sub-branches, 330 ATMs, 456 SME Unit Offices, and 1,080 Agent Banking Outlets, BRAC Bank stands tall as one of Bangladesh’s most expansive banking networks.
BRAC Bank signs credit guarantee agreement with BB to support women, agri entrepreneurs
BRAC Bank has signed a participation agreement with Bangladesh Bank to avail Credit Guarantee facility to support women and agro-based product processing entrepreneurs.
This facility will support women entrepreneurs in small enterprises, and the agro-processing industry under Bangladesh's refinance scheme.
Selim R.F. Hussain, Managing Director & CEO, BRAC Bank, and Nahid Rahman, Director, Credit Guarantee Department of Bangladesh Bank, signed the agreement at Bangladesh Bank Head Office in Dhaka on March 11.
Nurun Nahar, Deputy Governor; and Mohammad Jamal Uddin, Executive Director, Bangladesh Bank, and Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank, attended the programme.
The credit guarantee will cover a Tk 3,000 crore refinance scheme for women entrepreneurs and a Tk 1,400 crore refinance scheme for the agro-product processing sector.
This scheme will help women and agro-processing entrepreneurs obtain loans without collateral, said the BRAC Bank.
No Padma Bank employee will lose job: Exim Bank Chairman says after signing merger
Padma Bank has merged with the Sharia-based Exim Bank Plc.
The merger happened on Monday through a formal deal signing at Bangladesh Bank.
The central bank’s Governor Abdur Rauf Talukder and senior officials, officials of the two banks were present at the deal signing ceremony.
This is the first merger of two banks in the country after Bangladesh Bank’s recent initiative to merge weaker banks with sound or strong ones.
Exim Bank Chairman Nazrul Islam Majumdar told UNB that Padma Bank will no longer exist from tomorrow. Due to the merger, the new operations will be carried out under the name of Exim Bank.
“No employees will lose their jobs despite the merger. However, the directors of Padma Bank cannot be on the Board of Directors of Exim Bank. No decision has been made yet regarding the managing directors of the two banks,” he said.
Majumder said, "There was no pressure from the government to merge with Padma Bank, but there was a suggestion from the government. We have done it in the interest of the country, in the interest of the economy.”
Following the merger, depositors and shareholders will not face any issue, he said.
He said, “There are two methods of integration of banks — acquisitions and mergers. We didn't do acquisition, we did a merger.”
Padma Bank, which has about 1200 employees, will work for Exim Bank, sources said.
Padma Bank has defaulted loans of around Tk 4000 crore and the liability of government banks is about Tk 3000 crore with Padma.
In this regard, Exim Bank Chairman said, "Padma has been merged, as a result, all liabilities of Padma Bank have now been taken over by Exim Bank.”
About Shariah-based banks, Nazrul Islam said, “Exim Bank is Shariah-based. Even though Padma Bank is general, since we (Exim) have merged them, they will also be Shariah-based. Every index of Exim Bank is in a good position, hope it will do better.”
Standard Chartered, Apollo Hospitals, Kolkata sign MoU
Standard Chartered Bangladesh signed a Memorandum of Understanding (MoU) with Apollo Multispecialty Hospitals, Kolkata to provide healthcare privileges to clients.
As a part of the agreement, Apollo Hospitals will offer special discounts on health check-up packages, outdoor investigations, and room rent for all Standard Chartered credit and debit cardholders.
Walton brings country’s first 6-star energy rating AC
The MoU was signed recently at Standard Charter Bank’s head office.
Tawfique Imam, head CCPL, Shahreen Alam, head of rewards and Alliances Standard Chartered Bangladesh; Rana Dasgupta, Chief Executive Officer, Eastern Region, Apollo Hospitals Group; M M Masumuzzaman, Managing Director, SEOK, healthcare (Representative of Apollo Multispecialty Hospitals in Dhaka); and other senior officials from both organisations were present at the event.
DSE's tribute to Bangabandhu on his birth anniversary
A delegate of Dhaka Stock Exchange led by Chairman Professor Dr. Hafiz Muhammad Hasan Babu paid tribute by placing wreaths at the portrait of Bangabandhu at Dhanmondi 32.
The board of directors, management authority, and employees of DSE paid tribute on the occasion of the 104th birth anniversary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, according to a press release.
Brigadier Imran Hamid made independent director of DSE
Bangladesh Securities and Exchange Commission (BSEC) has again appointed Brigadier General M Imran Hamid as an independent director of Dhaka Stock Exchange (DSE), the country's main stock market.
The BSEC in an office order said his appointment for the next 3 years will be effective from March 15.
Brigadier Hamid has just completed his three-year tenure in the post.