Foreign aid commitments rise, disbursement falls in Q1
The government has been able to secure huge aid commitments from development partners from July to September, the first three months of the fiscal year, but foreign aid disbursements have decreased due to the lack of spending capacity of government agencies. Foreign aid commitments increased by 331% during the July-September period amounting to $405.40 million, which was $94.03 million in the same period last fiscal, according to Economic Relations Department (ERD) data.Foreign aid disbursement, on the other hand, stood at $1.34 billion, which is a 30% decrease compared to the same period last year, when the disbursement was $1.93 billion.Although aid commitments have increased compared to the last fiscal year, no pledges came from major development aid organizations except the World Bank, according to ERD sources.
Premier Bank to grow further on new trends
The Premier Bank Limited celebrates its 23rd anniversary today. Set up in 1999, it is one of the strongest banks in Bangladesh today with the lowest non-performing loan ratio. Its deposit base and loans have expanded in the last two decades. Recently, M Reazul Karim, managing director of Premier Bank, spoke about the bank’s journey, digital banking and new challenges and opportunities for banks, during an interview with The Daily Star. DS: Premier Bank is going to celebrate its 23rd anniversary today. Please tell us about the journey?Karim: The Premier Bank has been on a roll since its inception. From the very beginning, the bank has been playing an active role in the country’s economic development through financing to industrial, commercial and agricultural projects.Over the last few years, we have achieved enviable success in all indicators. In the last five years, there has been more than 50 per cent growth in most of the indicators.
Salim Anwar to head Padma Bank’s Islamic banking division
Islamic banking veteran Salim Anwar has joined Padma Bank Limited as its head of the Islamic banking division.Fourth generation Padma Bank Limited is going to launch a Shariah-based ‘Padma Bank Islami Banking’ division. Initiatives have already been taken to open Islamic banking windows in some branches, reports UNB citing a press release. Before joining Padma Bank, Salim Anwar was the Head of the Internal Control and Compliance Wing at Islami Bank Bangladesh Limited.He started his banking career at Islami Bank Bangladesh Ltd as a probationary officer in 1992. During his 30 years career, Salim Anwar served in Commercial Investment Department, Investment Policy and Planning Department and Musharaka Department in the Head Office and various branches.Besides, he served as Head of Branch in different branches for 16 years including two corporate branches.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 337.12 ||↑ 1.07%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$84.99 ||↓0.33||↓0.39%|
|Crude Oil (Brent)||$92.93 ||↓0.59||↓0.63%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 100.4100||BDT 104.9000|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<