bGlobal launches banking software solution

Dhaka, Feb 7: bGlobal Interactive Ltd, a technology and business process company, on Tuesday has launched state-of-the-art banking software solution AutoSoft Dynamics for the first time in Bangladesh. AutoSofts product suite is capable of automating both simple and complex processes for banks. Simple tasks include opening accounts, issuing cheque books, checking balances, processing deposits, transfers and ATM withdrawals. More complex automation includes trade finance (import, export and export refinance activities) and treasury automation (foreign exchange, money market and corporate office transactions). bGlobal Interactive Ltd, a member of bGlobal group of companies, launched the software solution at a press conference in Hotel Sarina in Dhaka. Mishal Karim and Samuel Dumont Bretzfield, co-founders of bGlobal Interactive Ltd, were present. Pakistasn-based AutoSoft Dynamics Pvt Ltd (ASD) is a leading global supplier of complete banking solutions. It offers a spectrum of products and services that cater to meet the needs of financial services industry. It houses over 120 employees with offices across three major cities in Pakistan and currently its systems are being used in financial institutions in the Middle East, Asia and Africa. bGlobal Interactive and AutoSoft plan to work together to offer the best banking software solutions and support to its customers in Bangladesh, said Karim, also chairman of bGlobal Interactive Ltd. AutoSoft proposes an all-encompassing solution, and in each new client acquisition, has always worked to build a long term strategic partnership, he added.

DSE makes highest gain in 13 months

The benchmark index of DSE made sharp gain on Feb 7, snapping its declining trend of last few sessions. The DSE General Index (DGEN), the benchmark index of DSE, advanced by 329 points, or 9.10 percent, to close at 3,945 points yesterday, which was the largest single day gain since January 11, 2011.

BB instructs to reduce lending, deposit rates

BB has asked all commercial banks to keep their highest rates for deposit at 12.50 percent and lending at 15.50 percent. BB has verbally instructed the commercial banks to follow the interest ceiling. It would not issue any official instruction to this end.
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Economic indicators improving: BB Staff Correspondent

Bangladesh Bank (BB) yesterday said the major economic indicators of the country have started improving while the governments borrowing from the banking sector also marked a fall in recent times. Top officials of the central bank came up with the observations during a meeting with the chief executives of the scheduled banks at the BB conference room. Bangladesh Bank Governor Atiur Rahman presided over the meeting. Emerging from the meeting, BB Deputy Governor SK Sur Chowdhury said the government's borrowing from the banking channel exceeded Tk 210 billion a few days ago, which now stands at Tk 160 billion. Food inflation has also come down while an increased remittance inflow has been pushing the economic indicators upward, Shur Chowdhury said. He also said the meeting discussed the ways to effectively implement the new monetary policy. The meeting gave some directives to the banks to work on implementing the monetary policy as well as aiming to lowering down the inflation rate to a single digit, the BB deputy governor added.

BTMC holds major portion of SoEs loans to state banks38

SoEs owe Tk 3.25b to five state-run banks Asif Showkat
The state-run Bangladesh Textile Mill Corporation (BTMC) covers 57.38 percent of the total classified loans which 38 state-owned companies owed to five state-owned commercial and specialised banks in 2011. The five state-owned commercial and specialised banks are Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank and Basic Bank. Meanwhile, six government-run enterprises in manufacturing sector hold 88.89 percent of the total classified loans of 38 state-owned enterprises. The amount of classified loans of state-owned enterprises from the five state-run commercial banks stood at Tk 3.25 billion at the end of December last year, down from Tk 11 billion at the end of July in the same year. Besides, total outstanding loan of 38 state-owned companies amounted to Tk 31.90 billion at the end of December 2011. The BTMC has an outstanding loan of Tk 2.04 billion, of which Tk 1.87 billion is classified, Bangladesh Bank (BB) data shows.

SIBL thinks 2012 a golden year for it

Muhammad Ali
Muhammad Ali, managing director of Social Islami Bank Limited (SIBL), was recently interviewed by Ahammad Parvej Khan, Staff Correspondent of daily sun. He talked about the banks achievements over the years, future plans and the new strategy of introducing innovative banking system. MD said SIBL has set its strategy of introducing a banking system through blending of both centralised processing unit (CPU) and effective branch operation, rather than mere traditional branch-based system. The new system is based on modern essence of banking. SIBLs goal is to provide better and time-befitting services to the clients, Muhammad Ali added. As an Islamic Shariah-based bank, he continued, SIBL always lays emphasis on employment generation and environment-friendly business for equitable distribution of resources over geographical territory. According to him, it will help to attain sustainable growth. Following is the details of the interview. daily sun: As a second generation bank in the country, SIBL has made tremendous growth. Would you please tell us the success stories of the bank?

Muhammad Ali: SIBL has a well-planned business strategy which eventually led to achieve the success as we maintained steady growth over the years with excellent performance. The bank was able to have a solid banking foundation in 2011, resulting in a robust growth in 2012. It was possible because of strategic business policy the bank had adopted. The pro-active management team has been working to make sure that the success continues. The bank had many challenges to address when it was launching, but now SIBL is a successful bank in the country as it has been able to address almost all of those challenges. The bank marked significant growth in all indices, as the officials could work without being exposed to any extraneous pressure. The banks management team can approve the investment of up to Tk 100 million as well as appointment and transfer of officials. The banks capital has now increased to Tk 9.70 billion by 2011 from the launching amount of Tk 126 million. It was Tk 4.68 billion in 2010, marking 107.32 percent growth. The total assets of the bank now stood at Tk 84.37 billion as of 31 December, 2011, compared to Tk 55.17 billion in 2010, posting 52.92 per cent growth.