BB shuffles tasks for deputy governors

The Bangladesh Bank (BB), in a major move, made some changes in the responsibilities of its deputy governors on Tuesday, the BB sources said. As part of the changes, the central bank has given the responsibilities of Foreign Reserve and Treasury Management Department, Department of Banking Inspection-4 and 7 to Deputy Governor Abu Farah Md. Nasser. Before the reshuffle, Deputy Governor Kazi Sayedur Rahman was in-charge of these departments. When contacted, BB Spokesperson Md Mezbaul Hoque said the central bank has made some changes in distributing portfolios of the two deputy governors. Deputy Governor Kazi Sayedur Rahman will be in-charge of some other key units like Bangladesh Bank Training Academy, Credit Information Bureau, Debt Management Department, Security Management, and Human Resources Department-1 and 2. Foreign Reserve and Treasury Management Department was one of the key units that came under stress because of the ongoing dollar shortfall and gradual fall in foreign currency reserve. On the other hand, Department of Banking Inspection-7 is tasked to monitor some banks like Social Islami Bank Limited (SIBL), Al-Arafah Bank, EXIM Bank, and Union Bank. Of these, there are reports of loan-related irregularities in SIBL and Union Bank. There are 50 departments in the central bank and four deputy governors are assigned to supervise these units.

Source: https://thefinancialexpress.com.bd/economy/bb-shuffles-tasks-for-deputy-governors-1675218735

DITF ends with export orders worth about Tk 300 crore

The 27th Dhaka International Trade Fair-2023 ended on Tuesday with businesses receiving export orders worth about $30.38 million (about Tk 300 crore) while goods worth Tk 100 crore were sold in the month-long exhibition at the Bangabandhu Bangladesh-China Friendship Exhibition Centre at Purbachal in Dhaka. A total of 47 businesses received awards in several categories like best pavilion and stalls for their performance in the event. Textiles and jute minister Golam Dastagir Gazi attended as chief guest and distributed the awards among the businesses at the closing ceremony of the month-long event. Commerce minister Tipu Munshi and Federation of Bangladesh Chambers of Commerce and Industry senior vice-president Mostofa Azad Chowdhury Babu attended as special guests at the closing ceremony of the country’s largest international trade fair on the BBCFEC premises. PB vice-chairman AHM Ahsan delivered the welcome speech. The government has set export target of $67 billion for the current financial year and hopefully we will achieve the target, he said.

Source: https://www.newagebd.net/article/193213/ditf-ends-with-export-orders-worth-about-tk-300-crore

Alamgir becomes DMD of UCB

Alamgir Kabir has recently been promoted to deputy managing director of United Commercial Bank PLC, according to a press release. Prior to joining as DMD, he served as senior executive vice-president and corporate banking division head at the bank.   He also served UCB as its head of credit risk management division and head of different branches. He also held numerous other senior management positions in Jamuna Bank and ICB Islami Bank Ltd. He started his career in 1999 at First Security Islami Bank Limited. He obtained his MBA and BBA from the University of Chittagong.

Source: https://www.newagebd.net/article/193210/alamgir-becomes-dmd-of-ucb