All assets, liabilities of BSB, BSRS vested with BDBL
Friday, 1 January 2010
FE Report
A vendor's agreement between the Ministry of Finance (MoF) and the Bangladesh Development Bank Ltd (BDBL), vesting all assets and liabilities of Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha to the newly established BDBL was signed Thursday.
MD Rizwanul Huda, deputy secretary, MoF and Nazem Ahmed Chowdhury, Chairman and Salima Ahmed, Director, BDBL, have signed the vendor's agreement in favour of the government and the BDBL respectively.
The BDBL will formally launch its activities from next Sunday.
The signing ceremony was held at the conference lounge of the MoF. Finance Minister Abul Maal Abdul Muhith, Bangladesh Bank Governor Dr. Atiur Rahman, Secretary, Finance Division, Dr. Mohammed Tarek and National Board of Revenue Chairman Dr. Nasir Uddin spoke at the occasion, among others.
The assets and liabilities of both Bangladesh Shilpa Bank (BSB) and Bangladesh Shilpa Rin Sangstha (BSRS) are worth Tk 25.69 billion and Tk 14.15 billion respectively, based on the estimate done by a chartered accountancy firm as of August 31, 2008, sources in the MoF said.
The BDBL was granted the operational licence by Bangladesh Bank on November 11 this year.
The head office of BSB at Rajuk Avenue will be the new head office of BDBL. The new bank will start its journey with a workforce of 835.
Muhith in his deliberation urged the board of directors of BDBL to invest both in social and commercial areas so that an equibrilium is established between making profit and extending social services.
He also called upon the bankers now serving in state-owned banks to bring about changes in their mentalities to serve clients efficiently and provide banking services more professionally.
The Finance Minister said the banking sector in the country has progressed a lot during the last 38 years compared with many other countries.
He appreciated the role of private commercial banks in capturing lion's share in the banking business.
"The share of private banks in banking business has increased to 60 per cent now from what was 25 per cent in 1980,'' Muhith told the function.
The Finance Minister asked the BDBL bank management to revive its financial health within the next two years.
Atiur in his speech said the BDBL now needs to evolve a long term strategic plan to make a difference in the banking business.
A vendor's agreement between the Ministry of Finance (MoF) and the Bangladesh Development Bank Ltd (BDBL), vesting all assets and liabilities of Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha to the newly established BDBL was signed Thursday.
MD Rizwanul Huda, deputy secretary, MoF and Nazem Ahmed Chowdhury, Chairman and Salima Ahmed, Director, BDBL, have signed the vendor's agreement in favour of the government and the BDBL respectively.
The BDBL will formally launch its activities from next Sunday.
The signing ceremony was held at the conference lounge of the MoF. Finance Minister Abul Maal Abdul Muhith, Bangladesh Bank Governor Dr. Atiur Rahman, Secretary, Finance Division, Dr. Mohammed Tarek and National Board of Revenue Chairman Dr. Nasir Uddin spoke at the occasion, among others.
The assets and liabilities of both Bangladesh Shilpa Bank (BSB) and Bangladesh Shilpa Rin Sangstha (BSRS) are worth Tk 25.69 billion and Tk 14.15 billion respectively, based on the estimate done by a chartered accountancy firm as of August 31, 2008, sources in the MoF said.
The BDBL was granted the operational licence by Bangladesh Bank on November 11 this year.
The head office of BSB at Rajuk Avenue will be the new head office of BDBL. The new bank will start its journey with a workforce of 835.
Muhith in his deliberation urged the board of directors of BDBL to invest both in social and commercial areas so that an equibrilium is established between making profit and extending social services.
He also called upon the bankers now serving in state-owned banks to bring about changes in their mentalities to serve clients efficiently and provide banking services more professionally.
The Finance Minister said the banking sector in the country has progressed a lot during the last 38 years compared with many other countries.
He appreciated the role of private commercial banks in capturing lion's share in the banking business.
"The share of private banks in banking business has increased to 60 per cent now from what was 25 per cent in 1980,'' Muhith told the function.
The Finance Minister asked the BDBL bank management to revive its financial health within the next two years.
Atiur in his speech said the BDBL now needs to evolve a long term strategic plan to make a difference in the banking business.