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Messages - ashiqbest012

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Questions & Solution papers collections of CMA Exams of ICMAB(Institute of Cost & Management in Accountants of Bangladesh) are given below:

Question December-2009

Question April-2010

Question August-2010

Question December-2010

Question April-2011

Question August-2011

Question December-2011

Question April-2012

Question August-2012

Question December-2012

Question April-2013

Question August-2013

Question December-2013

Solution April-13

Solution August-2013

Solution December-2013

Solution April-2014

Use of Forum / Re: FORUM DAY
« on: March 16, 2015, 11:03:33 PM »
Today I am going to share an interesting story.

In 2010, I have awarded "Prize Bond" for voluntary contribution at  DIU online forum from our honorable Chairman sir. After that, I have been kept these prize bonds as my achievement. Suddenly 2 days earlier, when I matched my bonds with Prize bond lottery result, I have found that I am winner of 4th prize of 78th lottery draw amounting 50,000 Taka.

I am really very grateful to my University and management, specially Shibli Shahriar Sir, Syed Mizanur Rahman sir, Shamim Ansary bhai  and friends who always inspired me to write my views on forum. 

Use of Forum / Re: FORUM DAY
« on: March 16, 2015, 11:03:22 PM »
Today I am going to share an interesting story.

In 2010, I have awarded "Prize Bond" for voluntary contribution at  DIU online forum from our honorable Chairman sir. After that, I have been kept these prize bonds as my achievement. Suddenly 2 days earlier, when I matched my bonds with Prize bond lottery result, I have found that I am winner of 4th prize of 78th lottery draw amounting 50,000 Taka.

I am really very grateful to my University and management, specially Shibli Shahriar Sir, Syed Mizanur Rahman sir, Shamim Ansary bhai  and friends who always inspired me to write my views on forum. 

I am going to share my experience regarding on the 4th Convocation 2014 of Daffodil International University (DIU), which was my dream.

At first, I congratulate the entire graduate and post graduate students of Daffodil International University and also all staffs and supporting force who were engaged with this program.

Specially, I am also thankful to Md. Sabur Khan, Chairman, BOT for arranging this sort of program as well as 1st International Career fair for all students. 

Now, I would like to share my experience regarding Convocation.

Convocation, a dream of graduates. Students eagerly wait for the day. Black coat and hat, special symbols and sign, rally with Chancellors! Photo session, meet with friends etc.

I also see the dream like that way because I have completed my graduation and post graduation from our beloved Daffodil International University (DIU) and fortunately, I have honored for BBA and MBA degree from 4th convocation ceremony. So, this day was very special for my life.

One more thing, I am very lucky to observe the convocation in our permanent campus and I felt honor to show my permanent campus to my parents at their own eyes at the day of 4th convocation ceremony.

I’m finally here.  MY CONVOCATION DAY   on 6th March, 2014. That morning I was feeling both excited and anxious for the most memorable moment in my life to come. I woke up at 5.30 am and got ready.  I checked my hat, suit, tie, invitation letter, coupon and everything, I had made sure that everything was perfectly in order and went out from home just struck 6.30 am with my parents and wife. After I had reached at Manik-Mia-Avenue, the buses left one by one with full of students and guardians from Manik- Mia Avenue to Permanent Campus at Auhulia, Savar, Dhaka.

After reaching permanent campus, office staffs are welcomed us with flowers. We started photo session with my family and friends. After that I joined the rally and rally walked down around the campus and reached to the stage. After that our honorable Convocation speaker Dr. Achyuta Samanta , Vice Chancellor Prof. Dr. M. Lutfar Rahman , Education Minister Mr. Nurul Islam Nahid (MP), Md. Sabur Khan (Chairman, BOT) and other honorable guests came and went on the stage. After their short speech they announced that “You all can change the position of tassel from left to right and welcome you all are now graduate. We (all students) are shouting “Yahoooooooooooooooooooooooooooooooooooooooooooooooo”

The feeling was unexplainable. I am proud to receive the degree. I met with my ex class mates, friends and who were looking very dashing and smart. I took huge number of photo shoot with my friends & family and having lunch with my friends. After that I showed my parents the whole campus of my university and then enjoyed the cultural program. Finally, after finishing the cultural program, we collected dinner and safely reached to the home.

Permanent Campus of DIU / Re: Permanent Campus Construction
« on: January 14, 2012, 03:03:28 PM »
Wow...That's a great news for us...The construction process is going very fast...

It's our moral duty to hang id card in the university. The time has gone when we said plz hang id card to the student. Now, if anyone doesn't want to wear id card, Authority should take the appropriate action.

Use of Forum / Re: FORUM DAY
« on: November 25, 2011, 07:56:07 PM »
We really enjoyed the last forum day function and in the next coming forum day would be better than that.

BBA Discussion Forum / Re: Business News
« on: August 23, 2011, 07:27:56 AM »

Banks rein in credit growth

Tuesday, August 23, 2011

Commercial banks lowered the credit growth to almost half of their deposits in the six months through June, thanks to the central bank's efforts to put a leash on loans.

Banks' deposits rose 11.22 percent to Tk 4,14,053 crore on June 30 from December 31 last year. Credit increased 6.02 percent to Tk 3,36,223 crore in the same period, according to data from Bangladesh Bank.

Banks seem to have returned from aggressive banking, putting brakes on credit expansion.

K Mahmood Sattar, president of Association of Bankers, Bangladesh, said the banks have consciously reduced their credit.

A Pubali Bank official said the central bank took steps to cut credit growth. Many banks were compelled to lower their credit to correct mismatches in fund management.

In an effort to control credit growth, Bangladesh Bank raised repo and reverse repo interest rates by 225 basis points in four steps in the last one year. It also raised the cash reserve ratio for banks by 50 basis points in December 2010.

The central bank's Monetary Policy Statement released in July also said BB's supervisory and credit policy steps to rectify unbalanced lending practices in banks included monitoring and enforcing of prudent advance deposit ratios and good forward looking liquidity management.

The banking regulator took measures to cut the banks' exposure to risky investments, including stocks and discouraged the banks from giving loans to unproductive sectors.

Besides, BB withdrew the lending cap, except for thrust sectors, resulting in a substantial increase in the rate of interest on bank loans.

The average rate of interest on loan was 11.23 percent in June last year, which rose to 12.17 percent in May this year.

A senior vice president of United Commercial Bank said banks took effective steps to increase deposit, as they faced a liquidity crisis. They increased the interest rate on deposits on one hand, and introduced a series of deposit schemes with attractive offers on the other.

The average interest rate on deposits increased to 7.24 percent in May, compared to 5.95 percent in June last year, according to the central bank statistics.

Credit outpaced deposit growth at some state and foreign banks. The deposit of state commercial banks increased by 10.01 percent and credit went up 13.99 percent.

In line with the government policy, state banks had to give loans to many government agencies, including Bangladesh Petroleum Corporation, said an official of Agrani Bank that gave the largest amount to the state fuel distributor. The result was, credit growth outstripped deposits.

But the deposits of private commercial banks rose by 12.16 percent and credit by 5.56 percent in the six months through June.

BBA Discussion Forum / Re: Business News
« on: August 23, 2011, 07:15:52 AM »

বিদেশি সহায়তা কমেছে প্রায় ১৮%

 তারিখ: ২৩-০৮-২০১১

গত ২০১০-১১ অর্থবছরে বাংলাদেশ আশানুরূপ বিদেশি সহায়তা পায়নি। প্রতিশ্রুত অর্থ ছাড়ের পরিমাণ আগের বছরের চেয়েও কমে গেছে।
অর্থনৈতিক সম্পর্ক বিভাগ (ইআরডি) সূত্রে জানা গেছে, গত অর্থবছরে ১৭৭ কোটি ৭৩ লাখ ডলারের সমপরিমাণ অর্থ ছাড় করেছে দাতা দেশ ও সংস্থাগুলো। ২০০৯-১০ অর্থবছরে এর পরিমাণ ছিল ২১৬ কোটি ৪৪ লাখ ডলার। ফলে এক বছরের ব্যবধানে বিদেশি সহায়তাপ্রাপ্তি কমেছে প্রায় ১৮ শতাংশ।
বিদেশি সহায়তার মধ্যে ঋণ হিসেবে পাওয়া গেছে ১০৫ কোটি ডলার আর অনুদান হিসেবে মিলেছে ৭২ কোটি ৬৬ লাখ ডলার।
অবশ্য ইআরডি কর্মকর্তারা জানান, এটি সাময়িক তথ্য। পূর্ণাঙ্গ তথ্য এলে বিদেশি সহায়তাপ্রাপ্তির পরিমাণ ১৮০ কোটি ডলার ছাড়িয়ে যাবে।
গত অর্থবছর পদ্মা সেতু নির্মাণে অর্থ সহায়তার প্রতিশ্রুতিসহ দাতারা মোট ৫৯২ কোটি ডলারের সহায়তা দেওয়ার প্রতিশ্রুতি দিয়েছিল। এর মধ্যে পদ্মা সেতু নির্মাণের জন্য ২৩৭ কোটি ডলার রয়েছে।
এদিকে গত ২০১০-১১ অর্থবছরে বাংলাদেশকে প্রায় ৯১ কোটি ১৩ লাখ ডলার সুদসহ আসল পরিশোধ করতে হয়েছে। এর মধ্যে আসল ৭২ কোটি ৪০ লাখ ডলার। আর সুদ হিসেবে পরিশোধ করতে হয়েছে ১৮ কোটি ৬৪ লাখ ডলার।
সে হিসাবে বলা যায়, বাংলাদেশকে প্রাপ্ত বিদেশি সহায়তার প্রায় অর্ধেকই আগের গৃহীত ঋণ ও সুদের জন্য ব্যয় করতে হচ্ছে।
আবার আগের ঋণের আসল পরিশোধ বাদ দিলে গত অর্থবছর প্রকৃত বা নিট বিদেশি সহায়তার পরিমাণ দাঁড়ায় প্রায় ১০৫ কোটি ডলার।
পরিসংখ্যান থেকে আরও দেখা যায় যে ২০০৯-১০ অর্থবছরে ২১৬ কোটি ৪৪ লাখ ডলারের মোট সহায়তার বিপরীতে বকেয়া ঋণের আসল বাবদ ৬৮ কোটি ৭৪ লাখ ডলার পরিশোধ করতে হয়েছিল। ফলে প্রকৃত সহায়তার পরিমাণ ছিল ১৪৭ কোটি ৭০ লাখ ডলার।
কে কত দিল: গত ২০১০-১১ অর্থবছরে সবচেয়ে বেশি অর্থ ছাড় করেছে এশীয় উন্নয়ন ব্যাংক (এডিবি)। এডিবি তাদের ৯১ কোটি ৩০ লাখ ডলারের প্রতিশ্রুতির বিপরীতে ৪৩ কোটি ৪৭ লাখ ডলার ছাড় করেছে ঋণ হিসেবে।
অন্যদিকে বিশ্বব্যাংক থেকে পাওয়া গেছে ৪২ কোটি ১৪ লাখ ডলার। তবে এই সংস্থাটির প্রদেয় প্রতিশ্রুতি ছিল সবচেয়ে বেশি ২০৪ কোটি ডলার।
এ ছাড়া ৬৪ কোটি ২৪ লাখ ডলারের প্রতিশ্রুতির বিপরীতে জাপান ১০ কোটি ৭৬ লাখ ডলার ছাড় করেছে। দক্ষিণ কোরিয়া ১৯ কোটি ডলার প্রতিশ্রুতির বিপরীতে শেষ পর্যন্ত ঋণ দিয়েছে মাত্র চার কোটি ৭০ লাখ ডলারের।
অন্যদিকে অনুদান হিসেবে সবচেয়ে বেশি ১০ কোটি ৫০ লাখ ডলারের সমপরিমাণ অর্থ ছাড় করেছে জাতিসংঘের সংস্থাগুলো। এ ছাড়া এডিবি ১০ কোটি ৪০ লাখ ডলার, বিশ্ব খাদ্য কর্মসূচি (ডব্লিউএফপি) ১০ কোটি ৩০ লাখ ডলার, যুক্তরাজ্যের ইউকেএইড নয় কোটি ৬৬ লাখ ডলার, আইডিএ ৯০ লাখ ডলার অনুদান হিসেবে দিয়েছে।
বেশি বিদেশি সহায়তা ছাড় করতে সরকারের প্রকল্প বাস্তবায়ন সক্ষমতা বাড়ানো প্রয়োজন বলে মনে করেন বাংলাদেশ উন্নয়ন গবেষণা প্রতিষ্ঠানের (বিআইডিএস) মহাপরিচালক মোস্তফা কে মুজেরী।
মোস্তফা কে মুজেরী বলেন, ‘গত অর্থবছরের শুরু থেকেই বিদেশি সহায়তা প্রবাহ কমছে। এই পরিস্থিতি সরকারকে ব্যাংক-ব্যবস্থা থেকে বেশি ঋণ গ্রহণে বাধ্য করছে।’
মুজেরী বলেন, সরকারকে বিদেশি সহায়তা-প্রবাহ বাড়ানোর বিষয়টি খুব গুরত্বের সঙ্গে বিবেচনা করতে হবে। বিশেষ করে বিদেশি সহায়তাপুষ্ট অবকাঠামো প্রকল্পগুলোর দিকে নজর দিতে হবে। এসব প্রকল্প বাস্তবায়ন বিলম্বিত হলে ষষ্ঠ পঞ্চবার্ষিক পরিকল্পনার লক্ষ্য অর্জন বাধাগ্রস্ত হতে পারে।

BBA Discussion Forum / Re: Business News
« on: August 17, 2011, 05:50:51 PM »

Wednesday, August 17, 2011

Default loans continued to rise in the second quarter -- by Tk 643 crore or 2.66 percent -- due to sluggish activities in the industrial sector and unhealthy competition among some private banks.

On June 30, banks recorded default loans of Tk 24,384 crore of their outstanding loans, up from Tk 23,752 crore on March 30, according to Bangladesh Bank statistics.

In the first quarter to March, default loans rose by Tk 1,043 crore or 4.59 percent.

In percentage, however, default loans went down slightly because of a rise in outstanding loans.

On June 30, the total amount of default loans was 7.14 percent of their outstanding loans -- down from 7.27 percent in March.

Default loans of all private commercial banks, state-owned commercial banks and foreign commercial banks increased, except for the specialised banks, but the rise was the highest among the private banks.

However, default loans of all the private banks, except two, were low -- below 5 percent.

In June, default loans of the state banks rose by Tk 125 crore compared to March, according to the central bank statistics. Such loans in state banks increased by Tk 592 crore and in the foreign banks by Tk 37 crore.

But default loans of the specialised banks went down by Tk 124 crore during the same period compared to that in March.

Krishi Bank Chairman Khondker Ibrahim Khaled said performance in the manufacturing and housing sectors slowed, which trapped the loans in these sectors.

He also said money of some banks, especially of the private ones, got stuck in the stockmarket after a fall in prices there. He said another reason for a rise in default loans may be the weakness of the banks in monitoring the loan recovery activities.

Due to an unhealthy competition, some banks do not put adequate efforts to realise default loans from some parties.

A senior executive of a private bank supported the views of Khaled, and said many customers do not pay loans timely and the banks concerned also do not put any pressure on them.

Khaled also said, in this context, if the BB approves some more new banks to be set up the unhealthy competition will rise. He said, instead of giving approval to new banks the central bank should intensify monitoring of the existing banks.

BBA Discussion Forum / Re: What is Mobile Banking?
« on: August 15, 2011, 06:40:57 PM »
Where to cash-out (cash withdrawal)?

Customer can cash-out (withdraw) at any authorized agent of DBBL (at present Citycell & Banglalink agents), DBBL ATMs and DBBL Branch.

How does it work? 

   Customer asks the Agent for withdrawal of an amount from his/her mobile account
   Agent initiates the transaction from his/her mobile
   Agent  gets  prompt  menu  and  in  reply  agent enters customer’s  mobile  account number  (including  check  digit) and amount to withdraw
   DBBL  system  sends  prompt  menu  to  the  customer’s mobile (or  IVR Call):  “You  are  going  to  withdraw  Tk.  XXXX  from
your  mobile  account with  DBBL.  If  you  want to  continue, please enter your 4-digit PIN”
   Customer enters his/her PIN
   System  debits  customer’s  account  and  send  an  SMS  to  the customer’s mobile
   Agent hands over money to the customer

Where to cash-in (cash deposit)?

Customer  can  cash-in  (deposit)  at any  authorized  agent of  DBBL  (at present Citycell & Banglalink agents) or DBBL Branch.

How does it work? 

   Customer hands over cash to the Agent
   Agent initiates the transaction from his/her mobile 
   Agent  gets  prompt menu  and  in  reply  agent enters customer’s  mobile  account number  (including  check  digit) and amount
   Agent enters his/her PIN
   System credits customer’s account for the same amount 
   Agent issues a receipt to the customer
   System sends an SMS to the customer’s mobile
   For  security  reason,  customer  needs  to  check  the  sending number  of  SMS  and  the  amount.  SMS  will  be  sent  from

What is transaction limit ?

There may be scarcity of cash at agent points. We want to serve as many  customers  as  possible  from  each  agent points.  On  the  other hand,  it is  required  to  minimize  fraudulent loss,  if  any.  To  arrest  all the above, a transaction limit in terms of frequency and amount have been set in the system. Current limit for the customers are as under:

Cash-in frequency per day = 5 times

Cash-out frequency per day = 5 times

Cash-in / cash-out amount per transaction = 5,000/-

Cash-in frequency per month = 20 times

Cash-out frequency per month = 20 times

How to check your account balance? 

   Customer  initiates  the  transaction  from  his/her  own mobile
   DBBL  system  sends  prompt menu  to  the  customer’s mobile  (or  IVR Call):  “Please  enter  your  4-digit PIN  to
know  your  balance  or  press  Cancel  button  to  cancel the request”
   Customer enters his/her PIN
   System sends the balance into his/her mobile

How to change PIN? 

   Customer initiates the process from his/her own mobile. 
   DBBL  system  sends  prompt menu  to  the  customer’s mobile  (or  IVR Call):  “Please  enter  your  existing  4-digit PIN to  proceed  or  press  Cancel  button  to  cancel  the request”
   Customer enters his/her existing PIN
   DBBL system asks for new 4-digit PIN
   Customer enters his/her new PIN
   The PIN is changed

What is Salary/Allowance Disbursement?

It  is  a process  by  which  Corporate  Office  can  disburse  the  salary  of their  employees  and  Government can  disburse  different allowances like elderly allowance, freedom fighter allowance to the people within a few moment in a hassle free way.

How it works?

•   Corporate  Office/ Government will  send  the  list of  mobile account   numbers  (including  check  digit)  and  monthly salary/allowance to DBBL
•   DBBL  will  credit all  the  individual  accounts  by  debiting corporate account centrally by a batch process system
•   The  employee/beneficiary  will  get  an  SMS  regarding  the transaction
•   The employee/beneficiary can go to any agent or DBBL ATM or DBBL Branch for withdrawal of money

Benefits of Corporate Office/Government?

•   Time savings
•   Cost savings
•   No need of extra manpower
•   Probability of error is very low
•   Instant service is ensured

Benefits of employee/beneficiary?

•   Instant credit to the account
•   No hassle to collect salary/allowance
•   No queue
•   Money  can  be  withdrawn  from  any  agent  or  DBBL  ATM  or DBBL Branch

How foreign remittance can be sent to Mobile Account?

•   Exchange  houses  at  abroad  receive  remittance  against beneficiary’s mobile account number
•   Exchange  houses  send  the  mobile  account number  and  the amount to DBBL
•   DBBL  will  centrally  credit the  amount against respective mobile account
•   The beneficiary will get an SMS regarding such transaction.
•   The  beneficiary  can  go  to  any  agent or  DBBL  ATM  or  DBBL Branch for withdrawal of money

Fees & Service Charges

Registration Fee  : Free

Cash-in Charges : 1% of the transaction amount or Tk.5/-, whichever is higher

Cash-out Charges   : 2% of the transaction   amount or Tk.10/-, whichever is   higher.

Merchant Payment  : Free for customer

Mobile Top-up : Free for customer

Salary Disbursement  : Free 

Allowance Disbursement      : Free

Remittance Disbursement    : Free

To know more, please dial our call centre at: 16216.

DBBL Mobile Banking at a glance
Banking for the unbanked

What is Mobile Banking?

Mobile  Banking  is  a Banking  process  without bank  branch  which provides financial services to unbanked communities efficiently and at affordable  cost.  To  provide  banking  and  financial  services,  such  as cash-in,  cash  out,  merchant payment,  utility  payment,  salary disbursement, foreign remittance, government allowance disbursement,  ATM  money  withdrawal  through  mobile  technology
devices, i.e. Mobile Phone, is called Mobile Banking.

Benefits of Mobile Banking

By  providing  electronic  access  to  money,  it is  possible  to  ultimately alleviate poverty, because of the following reasons.

•   Real time on-line banking
•   Available anytime, anywhere throughout the country
•   It is convenient, affordable and secure
•   It is much more effective in developing savings habits
•   It will  make  access  to  banking  and  advanced  payment transactions at affordable cost
•   It is  much  safer,  speedy  and  safeguard  against fraudulent transactions

What does DBBL Mobile banking offer?  

   Customer Registration
   Cash-in  (cash deposit)
   Cash-out (cash withdrawal)
   Merchant Payment
   Utility Payment
   Salary Disbursement  
   Foreign Remittance
   Air-time Top-up
   Fund Transfer

Where to register?

Customer  can  register  at any  authorized  agent point  of  DBBL  -  at present these are the retailers of Citycell & Banglalink throughout the country  who  can  display  â€˜DBBL  Agent Certificate’  and  â€˜DBBL  Mobile Banking Banner’.

How does it work?          

   Customer  fills  up  the  KYC  Form  and  submit  to  agent along with his photograph & National ID (NID)
   Agent checks the Application Form, photograph & NID
   Agent  goes  to  Customer  Registration  Menu  in  his/her mobile and insert customer’s mobile number
   Customer  receives  a call  through  IVR or  USSD  prompt and  in  reply,  s/he  gives  a 4-digit PIN number  of  his/her choice (please remember your PIN)
   A Mobile Account is created in the DBBL system which is his/her mobile number + one check digit
   Customer receives an SMS which contains his/her Mobile Account number (please remember your check digit)

Why PIN is required?

PIN is required to be inputted during cash withdrawal from an Agent or  DBBL  ATM.  PIN  ensures  security  of  your  money  and  protect fraudulent transactions.

Why PIN is strictly confidential?

PIN is the key for transaction of Mobile Banking. Only correct match of  PIN &  Mobile  Number  can  access  the  Mobile  Account.  PIN is needed to verify the A/C owner by the system. If a PIN is disclosed, respective  account is  at risk;  therefore,  PIN should  be handled  very carefully.  

Why Check digit ?
Mobile number is public and known to many people. Without knowing your check digit, none will be able to deposit money at your account, thus  it helps  to  keep  your  mobile account confidential.  On  the  other hand,  a check  digit  eliminates  typing  error, thus  protects  sending or depositing money to a wrong account.  

Which Telco’s Mobile can be registered?

Customer  having  any  mobile  from  any  Mobile  Operator  can  be registered  for  DBBL  Mobile  Banking  at any  agent point of  Banglalink and  Citycell.  All  these  Mobile  Account holders  will  be able  to  deposit and withdraw money from the Agents. However the customers having mobile  from  operators  other  than  Banglalink  and  Citycell  will  not  be able to initiate many self-initiated services like Balance checking, fund transfer, utility payment, Air-time top up, PIN Change etc. Customers having mobile from Banglalink and Citycell will be able to enjoy all the services – agent-initiated as well as self-initiated.

What type of Mobile set is required?          

Any type of mobile set can be used for DBBL mobile banking.

How much initial deposit is required?

Customers can open a DBBL Mobile Account with an initial deposit of Taka 10/- (taka ten) only.

Can  I  deposit  and  withdraw  money  immediately  after registration?

You can deposit money immediately after registration. However, you can  withdraw  after  your  account is  fully  registered.  Bank  officer verifies  the  information  on  the  registration  form  (KYC  form)  and authorizes the account for full registration. Normally 1-2 working days are required for full registration. After your account is fully registered, you will get an SMS notification.    

How is DBBL Mobile Banking secured?
DBBL  Mobile  Banking  is  highly  secured  as  it uses  either  USSD  or SMS+IVR as  its  communication  channel.  In  case  of  USSD,  both  the instructions and  PIN are  communicated  using  USSD while  in  case  of SMS+IVR,  instructions  are  sent via SMS  and  PIN via  IVR (voice channel) both the USSD and IVR are secured for transmission of PIN .

Customer’s  money  is  safe  as  none  can  withdraw  his/her  money without taking possession of Mobile set, PIN and Check digit togrther. None will be able to deposit unwanted money into a Mobile Banking Account without knowing  the  check  digit (although  the  mobile number is publicly known).

BBA Discussion Forum / Re: Business News
« on: August 14, 2011, 07:34:02 AM »
Global markets rebound after rollercoaster week

Sunday, August 14, 2011

World stock markets finished a rollercoaster week on a high note Friday, with traders breathing easier but still jittery over the shock waves of slower growth, the US credit downgrade and eurozone debt fears.

One of the most volatile weeks on record saw panic selling, quickly replaced by opportunity buying, and then repeated again; some major stockmarkets plunged more than five percent in one session and then rose more than five percent the next.

At the end, in markets where the sparks to selling originated, in Europe and the United States, net losses were mostly relatively small -- with the exception with Frankfurt's Dax -- while in Asia markets paid more as collateral casualties.

"The pure exhaustion that was this week's market has left participants strained as volatility reigned supreme," said Kimberly DuBord at

"The prevailing thought on Wall Street ... 'thank goodness it's Friday,'" she said.

For the week, the Dow Jones Industrial Average fell 1.5 percent, the S&P 500 1.7 percent and the Nasdaq 0.96 percent.

In Europe London's FTSE index stood out as a gainer, adding 1.39 percent, but the other markets tumbled: the CAC 40 lost 2.0 percent for the week, and the DAX, 3.8 percent.

In Asia the Nikkei tumbled 3.6 percent for the week, while the Hang Seng Index of Hong Kong gave up 4.3 percent.

The first spark to a huge selloff on Monday was Standard & Poor's controversial, historic downgrade of the US credit rating. That sent US stocks on their second plunge in three days -- after one the previous Thursday -- with an impact that was echoed around the world.

Markets thrashed around on Tuesday as new worries surfaced in Europe over the debt crisis possibly enveloping Italy and Spain, but mostly recovered their losses for the day on assurances from the European Central Bank, and the US Federal Reserve's pledge to keep interest rates ultra-low for two more years because of sagging economic growth.

But the Fed move bared the touchiness of the markets -- the Dow first rose, then plunged, and then rocketed back up on the rate news.

Wednesday more rumors in Europe, including that France might be downgraded in the wake of the United States, sent markets tumbling again; bank stocks were a focus of selloffs in both Europe and the US.

Thursday, the markets shot up again, as European authorities strained to calm the rumor mill while American traders turned their focus back to individual stocks and their valuations.

Finally on Friday, the markets held onto and added to the gains of the day before, helped by a ban of short sales of bank stocks in four European countries and reasonably positive data on consumer spending in the United States.

The turbulence sent investors and businesses fleeing to safe-havens, and gold pushed to a record high Thursday at $1,814.95, before dropping off to around $1,746 late Friday.

Investors also sought out the Japanese yen and Swiss franc, prompting interventions by Japan's and Switzerland's central banks to prevent further rises.

And despite the US downgrade, traders fled into US Treasury bonds, sending yields at one point Wednesday to historic lows. By the end of the week, the US benchmarket bonds were still hovering near their lowest yields ever.

While calm returned on Friday, all the sources of the jitters -- Europe's dubious capacity to get a hold onto its debt problems; Washington's ability to address the debt-and-deficit issues S&P singled out -- remained in the air.

"We've known about both problems for months ... Neither one of these things should have been a surprise," said Nicholas Colas of ConvergEx Group. "What we've learned this week is that anticipating events is not the same as discounting them."

Traders remain on edge, said Gregori Volokhine of Meeschaert New York.

"Swings of 300-400 points are really hard on the nerves of traders, investors, and the market confidence," he said.

He pointed the finger at poor political leadership, in Washington and in Europe, in dealing with economic and fiscal problems, and said next week's mini-summit between France's and Germany's leaders on the eurozone crisis could bring more calm.

"If we have evidence of a strong political will not just to cut deficits but also to battle a slowing economy, that will be better," he said.

BBA Discussion Forum / Re: Business News
« on: August 14, 2011, 07:28:17 AM »
BB brings back credit discipline
Credit-deposit ratio reaches safe limit in June

The credit-deposit ratio (CDR) of commercial banks came down to a safe limit in June, as the surplus inter-bank deposits were included in total deposits.

The banks increased deposits and reduced credit, trimming the CDR further, said an official of the Bangladesh Bank.

Commercial banks are not allowed to invest more than 85 percent of their deposits, while Islamic banks cannot exceed the 90 percent limit.

On June 30, the CDR of 43 local and foreign commercial banks fell to 79.68 percent from more than 85 percent in December last year. In many banks, the ratio was above 100 percent.

The banks' overall deposits increased by 11.22 percent on June 30, compared to six months ago. Credit fell 6.20 percent.

The banks included Tk 7,605 crore in the total deposits in June, according to the central bank.

The banks increased deposits aggressively, and every bank cut lending consciously, which pared down the CDR rate, said K Mahmood Sattar, president of the Association of Bankers Bangladesh.

He said a few banks could reap the benefit of inter-bank deposits but most of the banks' CDR fell as they reduced credit.

The BB set a deadline for the banks to bring down the CDR to the safe limit by June to restore credit discipline. The bank owners met with Prime Minister Sheikh Hasina with an appeal to relax the rules.

The central bank relaxed the rules and said the banks can calculate inter-bank deposits in their total deposits.

The CDR by state commercial banks was 72.9 percent on June 30. Those banks included Tk 4,580 crore inter-bank surplus deposits in their total deposits.

The CDR of the private commercial banks was 82.92 percent and they included Tk 2,992 crore in the inter-bank deposits, while that of foreign commercial banks was 76.96 percent and they added only Tk 32 crore in the inter-bank deposits.

Of the 30 private commercial banks, only nine included inter-bank deposits of over Tk 100 crore in their CDR.

Analysts held the banks' excessive investment in the stockmarket as one of the causes, which pushed share prices to an unsustainable high. The central bank had since the first half of 2009 warned banks against parking excessive money in stocks.

Some officials of the Securities and Exchange Commission, stockmarket leaders and influential businessmen piled pressure on the BB to let the banks pour money into the stockmarket.

A total of 47 banks made operating profits of Tk 16,486 crore in 2010, with Tk 2,504 crore coming from the stockmarket, according to the central bank statistics.

The BB discourages the banks from any risky investment in an effort to cut credit growth, the high official of the central bank told The Daily Star yesterday.

As part of its overall monetary policy, the central bank takes steps to bring down credit growth to control soaring inflation, the official said.

BBA Discussion Forum / Re: Business News
« on: August 10, 2011, 07:36:11 AM »
Big operators to pay high spectrum fees
3G licences will be given through auction

The government yesterday finalised the process of how it will charge four mobile operators -- Grameen-phone, Banglalink, Robi and Citycell -- for renewing their licences for the next 15 years.

A high-profile meeting presided over by Prime Minister Sheikh Hasina decided that the operators will pay at the rate of Tk 150 crore for per megahertz of airwave, which will be multiplied by the total allocated spectrum and a 'market competition factor'.

The meeting held at the Prime Minister's Office also decided to give 3G (third generation) technology licences through auction.

However, Bangladesh Telecommunication Regulatory Commission and the telecom ministry will calculate and disclose the spectrum allocation charges for the operators by August 15.

Telecom Secretary Sunil Kanti Bose said the operators will have to pay Tk 150 crore for per megahertz of spectrum and the amount will be finalised on the basis of their market share.

Now an operator with a big subscriber base will pay higher than a low-subscriber operator, he said.

“Otherwise some of the operators will be affected and won't survive.”

Now Grameenphone will have to pay higher than its nearest peers; Banglalink and Robi will be in the middle, while Citycell will pay less, on the basis of the calculation -- Tk 150 crore/ per megahertz of spectrum multiplied by the total amount of spectrum and the market competition factor.

The rate for all bands of spectrum -- including GSM 1800 Mhz, 900 Mhz and CDMA 800 Mhz -- will be the same: Tk 150 crore.

Last year the BTRC proposed a 'utilisation factor' (UF) to determine the spectrum assignment fees of the operators. As the UF causes different rates for different operators, a high-profile meeting on July 10 suggested abolishing the UF.

However, this time the UF comes as the 'market competition factor', according to telecom ministry officials.

The meeting also supported the BTRC proposal of 5.5 percent revenue sharing for the mobile operators, instead of 5 percent proposed by the ministry.

However, now the operators will pay 1 percent of their revenue to Social Obligation Fund, a new idea to help implement the government's vision for a 'digital Bangladesh'.

The meeting also decided that the licence renewal process has to be complete by November 10 this year, and the upfront spectrum charges have to be paid in four instalments within two years.

The meeting suggested opening voice over internet protocol (VoIP) for all who are interested.

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