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361

Business & Entrepreneurship / Cut annual fees on BO account: stockbrokers

« on: August 20, 2015, 02:19:27 PM »

Stockbrokers yesterday requested the Central Depository of Bangladesh Ltd to slash the annual maintenance fee on beneficiary owner's accounts, considering the current market situation.

They also urged CDBL to consider their proposal of withdrawing the minimum share transaction fee that is Tk 5 at present, and to revise the fixed charge on bond transactions, now set at Tk 50.

They made the pleas at a meeting with CDBL, which operates the central depository system for electronic share transaction. Officials of the stock exchanges were also present.

“We informed CDBL about the problems we are facing now in the context of the current market situation,” said Ahsanul Islam, president of DSE Brokers Association of Bangladesh.

The annual maintenance fee on each BO account is Tk 500, of which a depository participant gets Tk 100, CDBL Tk 150, Bangladesh Securities and Exchange Commission Tk 50 and the government gets the rest Tk 200.

The number of active BO accounts stands at 30.65 lakh, according to the CDBL website.

The brokers did not mention how much the BO maintenance fee should be cut.
STOCKS FLAT

Stocks closed almost flat yesterday, with the benchmark index of Dhaka Stock Exchange, DSEX, increasing by only 7.7 points or 0.16 percent to close at 4,816.97 points.

Turnover, another important indicator of the market, rose 4.1 percent to Tk 550.19 crore on the transaction of 14.26 crore shares and mutual fund units.

Of the traded issues, 155 advanced and 116 declined with 48 securities closing unchanged on the premier bourse.

Square Pharma dominated the turnover chart with 10.13 lakh shares worth Tk 24.46 crore changing hands, followed by Apex Tannery, United Power Generation and Distribution Company, Islami Bank and RSRM Steel.

Apex Spinning and Knitting Mills was the day's best performer, gaining 9.89 percent, while Eastern Lubricants was the worst loser with a 6.9 percent fall.

Chittagong stocks also rose with the bourse's benchmark index, CSCX, increasing 27.55 points or 0.3 percent to stand at 8,991.07.

Gainers beat losers as 121 advanced and 98 declined, while 34 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 1.23 crore shares and mutual fund units, generating a turnover of Tk 86.27 crore.

362

Faculty Sections / Banks get access to national ID database

« on: August 20, 2015, 02:09:26 PM »

Commercial banks are now getting access to the national identity database, which bankers said would help them check authenticity of clients' information and reduce forgeries.

The Election Commission yesterday signed an agreement with Dutch-Bangla Bank and Brac Bank, allowing the two to enjoy national identity (NID) verification services.

Earlier, Bangladesh Bank, the National Board of Revenue, and the Department of Immigration and Passports gained the access to the NID database.

Banks and telecom operators have long been demanding the access.

“The scope for verification will authenticate information of individuals and ensure transparent financial transactions. Frauds and forgeries will come down drastically,” Bangladesh Bank Governor Atiur Rahman said at the agreement signing ceremony at Radisson hotel in the city.

Johannes Zutt, World Bank's country director for Bangladesh, and Sirajul Islam, secretary of the Election Commission, were also present.

The governor said the two banks will now verify NIDs of their existing and upcoming customers regularly.
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Rahman said banks will use the NID database for mobile banking services as well.

Election Commission officials said they will have to manage multiple network connectivity from multiple service providers to provide the NID verification services to all banks and financial institutions. The BB governor proposed a solution to the multiple network connectivity issue. “The Election Commission may consider providing the access via the central bank,” Rahman said, adding that it would help the commission manage ICT security effectively.

Abul Kashem Mohammad Shirin, deputy managing director of Dutch-Bangla Bank, said the access to the NID database will help them detect accounts with false identity.

“Providing mobile banking services will be easier as many people open accounts with fake NID cards,” Shirin said. “We will get genuine information from the Election Commission as its NID database is 99.7 percent accurate,” he added.

A bank has to give the Election Commission Tk 2 for a single verification service in addition to the specific usage fees.

363

Business & Entrepreneurship / Bangladesh bank rolls out new monetary policy 2015

« on: August 20, 2015, 12:54:27 PM »

Bangladesh Bank (BB) has observed that the current political unrest has cast a shadow of uncertainty over achieving the target.Bangladesh Bank has set a target to reduce bank interest rate spread during January-June period of the current fiscal year, aimed at spurring the capital market of the country.
bangladeshbank:

Higlights :
? Despite some upside risks, inflation will be kept under control to reach the target of 6.5
percent by June 2015.
? The economy is poised to achieve a respectable growth rate between 6.5 and 6.8 percent
in the fiscal year 2015 if political stability prevails. The bottlenecks of infrastructure and
energy must be addressed promptly.
? Over the last 20 years Bangladesh evidenced the highest amount of stability in inflation
and economic growth in the South Asian region that includes India, Pakistan and Sri
Lanka.
? Bangladesh’s growth performance is the second best (5.73 percent) after India (6.77
percent) and its inflation is the lowest (6.45 percent) in the region over the last two
decades.
? Bangladesh Bank will pursue a monetary policy of prudence to strike the balance
between objectives of moderate inflation and respectable growth. Money supply and
policy rates will be controlled accordingly while opening further avenues to promote
investment through greater financial inclusion.
? Banking governance will be up scaled further to clamp down on loan delinquencies.
While the cases of credit worthy borrowers will be reviewed, habitual defaulters will face
lawful consequences.
? Bangladesh Bank will endeavor to iron out excessive fluctuations in the exchange rate
which will remain largely market based.
? The central bank will continue to maintain comfortable amount of foreign currency
reserves to cover imports of 5 to 10 months. This safety net is required to avoid any
sudden collapse in the value of Taka and to ensure a healthy growth of imports of
productive inputs.
? Bangladesh Bank aims at supplying reserve money at the growth rate of 15.9 percent and
broad money at 16.5 percent at the end of FY2015.
? Private sector credit growth has been targeted to grow at 15.5 percent at the end of
FY2015.
? At the retail level both deposit and lending rates fell in July-December of FY2015 and the
interest spread has on average decreased from 5.31 percent in June 2014 to 5.17 percent
in December 2015. Bangladesh Bank will continue its effort to reduce this spread.

The target was set at the central bank’s monetary policy announced Thursday for the second half of the fiscal year (FY) 2014-15.

The policy was adopted to bring down the inflation rate to 6.5% from current 6.99% (12-month average) and achieve an economic growth within a range between 6.5% and 6.8%.

“I hope that our monetary policy issued today will play the same effective role as the previous issues in instilling and strengthening public confidence on Bangladesh Bank’s actions aimed at containing and stabilising CPI inflation,” Governor Dr Atiur Rahman said, releasing the Monetary Policy Stance (MPS) at Bangladesh Bank headquarters in Dhaka.

“I also believe that its attendant inclusive, environmental sustainability supportive credit and financial policies will make meaningful contribution in supporting the government’s pursuit of on the country’s path towards prosperity.”

Atiur said Bangladesh Bank’s attention in support of capital market stability will continue in seccond half of FY2014-15.

He said the central bank has the statutory responsibility of enforcing compliance of banks with the legal limits on their capital market exposures; but further to this, Bangladesh Bank has continued liquidity support for capital market transactions in volumes permissible within Bangladesh Bank’s monetary programs.

In the first half of this fiscal year, he said Bangladesh Bank has introduced a number of new investor-friendly regulatory reforms facilitating external transactions of foreign and local businesses including investors in the capital market.

Atiur said deposit and lending interest rates of banks and financial institutions have been coming down in line with decline in CPI inflation; intermediation spreads between weighted average deposit and lending interest rates of banks and financial institutions have come down to five percent or lower in the state owned banks and the majority of private sector banks.

The spreads are higher in the foreign banks and in some private sector banks with high engagement in riskier small enterprise lending, he said.

“Bangladesh Bank’s attention towards rationalization of these higher spreads will continue.”

The governor said competitive lending interest setting behavior not having yet fostered well in the local financial market.

Bangladesh Bank resorted to setting ceilings on lending interest rates in two priority areas – pre-shipment export credit and agricultural credit.

In the context of general declining trend in interest rates, in H1 FY2014-15 Bangladesh Bank has revised the lending rate ceiling for agriculture downward from 13% to 11%. Competitive rate setting behavior in the market would have rendered prescription of such ceilings unnecessary.

“Bangladesh Bank will therefore pursue ways of fostering of competitive price setting, rate setting attitudes and practices in our financial markets.”

364

Be a Leader / The story behind : Sundar Pichai Became The CEO Of Google!

« on: August 20, 2015, 12:09:08 PM »

“At a restaurant, a cockroach suddenly flew from somewhere and sat on a lady. She started screaming out of fear. With a panic stricken face and trembling voice, she started jumping, with both her hands desperately trying to get rid of the cockroach.

Her reaction was contagious, as everyone in her group also got panicky. The lady finally managed to push the cockroach away but …it landed on another lady in the group. Now, it was the turn of the other lady in the group to continue the drama.

The waiter rushed forward to their rescue. In the relay of throwing, the cockroach next fell upon the waiter.

The waiter stood firm, composed himself and observed the behavior of the cockroach on his shirt.
When he was confident enough, he grabbed it with his fingers and threw it out of the restaurant.
Sipping my coffee and watching the amusement, the antenna of my mind picked up a few thoughts and started wondering, was the cockroach responsible for their histrionic behavior?
If so, then why was the waiter not disturbed? He handled it near to perfection, without any chaos.

It is not the cockroach, but the inability of the ladies to handle the disturbance caused by the cockroach that disturbed the ladies.

I realized that, it is not the shouting of my father or my boss or my wife that disturbs me, but it’s my inability to handle the disturbances caused by their shouting that disturbs me. It’s not the traffic jams on the road that disturbs me, but my inability to handle the disturbance caused by the traffic jam that disturbs me.

More than the problem, it’s my reaction to the problem that creates chaos in my life.
Lessons learnt from the story:
“Do not react in life. Always respond.“
Reactions are always instinctive whereas responses are always well thought of, just and right to save a situation from going out of hands, to avoid cracks in relationship, to avoid taking decisions in anger, anxiety, stress or hurry.”

365

Business & Entrepreneurship / Every person born with entrepreneurial mind, but society force him to find a job

« on: June 02, 2015, 03:40:29 PM »

সোশ্যাল বিজনেস ইয়ুথ সামিটে ড. ইউনূস
চাকরি খোঁজা হলো ‘আধুনিক দাসত্ব’

তরুণ প্রজন্ম চাকরি খোঁজার সংস্কৃতি থেকে বের হয়ে আসবে—এমন একটি বিশ্ব দেখতে চান নোবেল বিজয়ী প্রথম বাংলাদেশি ও গ্রামীণ ব্যাংকের প্রতিষ্ঠাতা ড. মুহাম্মদ ইউনূস। তাঁর মতে, শিক্ষাজীবন শেষে চাকরি খোঁজা হলো ‘আধুনিক দাসত্ব’।
ড. ইউনূস বলেছেন, ‘ভালো একটি বিশ্ববিদ্যালয় থেকে ভালো ডিগ্রি নিয়ে বেরিয়েই একজন শিক্ষার্থী বলছেন, আমাকে চাকরি দিন। কিন্তু এটা বলছেন না যে আমাকে ১০ হাজার ডলার দিন, আমি নিজের ভাগ্য নিজেই গড়ে তুলব। তাঁর ভাগ্যের নিয়ন্ত্রণ তিনি তুলে দিচ্ছেন আরেকজনের হাতে। এটা আধুনিক দাসত্ব।’
সোশ্যাল বিজনেস ইয়ুথ সামিট-২০১৫-এ ড. ইউনূস তরুণ উদ্যোক্তাদের উদ্দেশে এসব কথা বলেন। রাজধানীর ফার্মগেটে কৃষিবিদ ইনস্টিটিউট মিলনায়তনে গতকাল সোমবার দিনব্যাপী এই সম্মেলনের আয়োজন করে সোশ্যাল বিজনেস ইয়ুথ অ্যালায়েন্স, গ্লোবাল। ইউনূস সেন্টারের নির্দেশনা অনুযায়ী সোশ্যাল বিজনেস ইয়ুথ অ্যালায়েন্স পরিচালিত হয়।
ড. ইউনূস বলেন, প্রত্যেক মানুষই উদ্যোক্তা হয়ে জন্ম নেন। কিন্তু সমাজ তাকে এমনভাবে মগজধোলাই করে যে তিনি চাকরি খুঁজতে বাধ্য হন। সে জন্য বেকারত্ব দেখা দেয়।
তরুণ-তরুণীদের চাকরি খোঁজা থেকে বেরিয়ে আসার পথও বাতলে দিয়েছেন এই নোবেলজয়ী। বলেছেন, একটা সময় ছিল উদ্যোক্তারা মূলধনের সমস্যায় পড়তেন, ব্যবসা করার জন্য অর্থ পেতেন না। এখন আর সেই অবস্থা নেই। ভালো ব্যবসায়িক ধারণা হলে ব্যবসায় অর্থায়ন এখন আর সমস্যা না। তরুণদের উদ্দেশে তিনি বলেন, ‘তোমরা যেন উদ্যোক্তা হতে পারো, সে জন্য গ্রামীণ ব্যাংক প্রস্তুত। তোমরা ব্যবসাসংক্রান্ত ধারণা নিয়ে আসো, গ্রামীণ ব্যাংক তোমাদের টাকা দেবে।’
তরুণদের উৎসাহ দিয়ে গ্রামীণ ব্যাংকের এই প্রতিষ্ঠাতা বলেছেন, হাজার হাজার উদ্যোক্তা আছেন, যাঁরা শিক্ষার্থী অবস্থায় ব্যবসা শুরু করেছেন এবং সফলও হয়েছেন।
তরুণ উদ্যোক্তাদের সামাজিক ব্যবসায়ে আগ্রহী হওয়ার পরামর্শ দিয়ে ড. ইউনূস বলেন, ‘শুধু ব্যবসা দিয়ে বিশ্বকে বদলানো যাবে না। এ জন্য মুনাফার বাইরেও চিন্তা করতে হবে। তোমাদের সামাজিক ব্যবসার দিকে যেতে হবে।’
ড. ইউনূস কথা বলেন সায়েন্স ফিকশন নিয়েও। তিনি বলেন, সায়েন্স ফিকশন যা বলে, একসময় তা সত্যি হয়। যেমন স্মার্টফোন। একপর্যায়ে তিনি বলেন, বিশ্বটা যদি হয় সায়েন্স ফিকশনের, তাহলে তাকে কেন সোশ্যাল ফিকশনের বিশ্বে পরিণত করা যাবে না?
তরুণদের বিশ্ব বদলে দেওয়ার প্রধান শক্তি উল্লেখ করে ড. ইউনূস বলেন, ‘যদি আমরা একটি কাঙ্ক্ষিত সমাজ কিংবা বিশ্বের কল্পনা করতে না পারি, তাহলে তা কখনোই সত্যি হবে না। সে জন্য আমাদের একটি গন্তব্য দরকার, একটি নির্দেশনা দরকার। তুমি যদি জানো যে তোমাকে কোথায় যেতে হবে, তাহলে তুমি অবশ্যই সেখানে পৌঁছাতে পারবে। তোমার প্রযুক্তি, যোগাযোগ ক্ষমতা তোমাকে সেখানে নিয়ে যাবে।’
তরুণদের উদ্দেশে ড. ইউনূসের শেষ উক্তিটি ছিল, দারিদ্র্য, বেকারত্ব ও কার্বন নিঃসরণ শূন্যের পর্যায়ে থাকবে—এমন একটি বিশ্বের কথা কল্পনা করো। দেখবে একসময় তা সত্যিই হয়ে যাবে।
অনুষ্ঠানে ইউনূস সেন্টারের নির্বাহী পরিচালক লামিয়া মোর্শেদ বক্তব্য দেন। এর আগে বক্তব্য দেন মিডিয়া ব্যক্তিত্ব মুহাম্মদ জাহাঙ্গীর।