Short Note for DAIBB- Back to Back Letter of Credit
Back-to-back letter of credit is a negotiable instrument which is issued from a buyer to a seller unconditionally where the seller can further transfer the letter of credit to his supplier. In simple words, in this type of letter of credit a seller gets an L/C (commonly known as master L/C), which he can further negotiate with his suppliers (commonly known as Back to back L/C). It helps the seller to produce his desired selling product. However, the back-to-back L/C must be opened in conformity of the master L/C. Example of Back-to-Back Letter…
Job Circular: Management Trainee Officer Recruitment At Modhumoti Bank Ltd.
MMBL MANAGEMENT TRAINEE PROGRAM Modhumoti Bank Limited is one of the fastest growing 4th Generation Private Commercial Bank that offers a wide range of financial products & services. The Bank is looking for aspiring individuals for its future Leadership Positions. About our MT Program Our MT Program is designed to develop incumbent with complete knowledge of Banking Business and operations. You will get exposure in functions of the Bank. Our vision is to nurture you as future leaders Of the Bank. What Qualifications You have to Meet Educ…
JAIBB: What is Garnishi and Attachment Order ?
The obligation of a banker to hounour a customer cheque is extinguished upon receipt of the order of the court is known as “Garnishi Order”. The court can issue this order under the court of Civil Procedure, 1908 –Order 21 Rule 26. If a debtor fails to pay his debt owed to his creditor, the creditor may apply to the court for issuing Garnishi Order on the banker of the debtor. This order is only applicable to the amount which is not secured by a negotiable instrument. The Garnishee Order is issued in two parts. Ø First, the Court dir…
Job Circular: Cash Management Officer Recruitment At Jamuna Bank Ltd.
Jamuna Bank Ltd. has come up a long way standing out with highly motivated workforce to lead the banking industry; now looking for experienced banking professionals to expediate the expansion strategy. Cash Management Officer Minimum five (5) year, experience in cash management in any scheduled Bank. Minimum Graduation with no third division Good Commend over English & Computer Literacy Willing to work anywhere in the country. • Only online application will be processed. • Only short listed candidates will be invited for interview. • …
Job Circular: Probationary Officer Recruitment At First Security Islami Bank Bangladesh Ltd.
First Security Islami Bank Limited , a third generation progressive Islami Shariah Based Private Commercial Bank having remarkable number of branches all over the country with excellent working environment, corporate culture & steady growth in it's business expansion program, desires to recruit Probationary Officers to strengthen the team. Potential individuals who are challenge striving, forward looking, proactive & self-motivated possessing assertive leadership quality with the following criteria are encouraged to apply. Prereq…
101th Prize Bond Draw Result
To mobilize the domestic resources Bangladesh government introduced the "Prize Bond" in 1974. It is a public savings scheme which is bearer in nature. On behalf of the Bangladesh Government, Bangladesh Bank manages the entire management. Prize bonds do not provide any interest to the bearer, rather it has a regular schedule of the prize draw. Bangladesh Bank declared it's 99th draw on 4th June 2020. Prizes of Prize Bond 1st Prize: Tk. 6 Lac for each series 2nd Prize: Tk. 6 Lac & 25 Thousand for each series 3rd Prize: Tk. 1 La…
Financial Inclusion for un-banked People
As traditional banking is failing to include increased un-banked people into the banking network, there is a need for 'alternative' financial institutions for un-banked people, especially in rural areas. In fact, only banks cannot solve the problem of financial exclusion. Multiple stakeholders and institutions will have to work in unison to accelerate financial inclusion activities. But in reality, this is not happening in the country. The no-frills (offering or providing only the most important or basic things) accounts including Tk…
Bangladesh Gets its 60th Bank
Bengal Commercial Bank plans to disburse loans to micro, small and medium entrepreneurs on a priority basis Bengal Commercial Bank (BCB) – the 60th bank in Bangladesh – started its journey through a logo unveiling programme on Wednesday night in Dhaka. Around 55% of the people in Bangladesh remain out of the banking ecosystem, the bank officials said, adding, "So, the BCB will work towards bringing everyone, including marginalized communities, under this service. It will also focus on creating new entrepreneurs. They added that the Benga…
Loan Disbursement, Remittance Booming in Agent Banking
The amount of deposits reached Tk13,040cr in September this year, an increase of 111% compared to Tk6,170 crore recorded in the same month last year Agent Banking – which provides limited scale banking and financial services to the mostly underserved population – is booming in Bangladesh. The amount of deposits reached Tk13,040 crore in September this year, an increase of 111% compared to Tk6,170 crore recorded in the same month last year. During the same period, the amount of disbursed loans reached Tk1,086 crore, an increase of 255% compared…
91st Banking Diploma Exam Routine Published
The Institute of Bankers Bangladesh published it's 91st Banking Diploma exam routine. This routine is published by IBB in the midst of the current pandemic situation when almost all the physical exam are postponed by the Govt. However, this exam was previously postponed due to the same situation. A few days ago Bangladesh Bank published a circular, where it instructed all the private, public and foreign banks to keep specific number for JAIBB and DAIBB while considering officers for promotion.
Default Loans to Aggravate Banks' Profit: Fitch Solutions
Fitch Solutions Inc. is an international company that provides financial services, recently published a report on banking sector of Bangladesh. The report explains how the profitability will further aggravate as soon as the facility of paying loan instalments expires as the banks will have to keep aside a huge amount of their income as provision against the default loans. This observation came in a report titled " COVID-19 woes perpetuating weakness of the Bangladesh banking sector."- on 26th October. The report explained that, non…
