BRAC and HSBC Collaborate for Microfinance Transformation

As of June 30, this year, Shariah-based banks in Bangladesh disbursed significantly more in loans and investments than the deposits they collected, according to Bangladesh Bank data. Deposits in these banks totaled approximately Tk4.40 lakh crore, while investments amounted to around Tk5.13 lakh crore, leaving a gap of Tk73,307 crore.

UCB's new Chairman, Sharif Zahir, revealed that former land minister Saifuzzaman Chowdhury Javed compelled UCB board members to resign and replaced them with his family members during his tenure. Zahir also mentioned that former Prime Minister Sheikh Hasina was aware of the issue.

Bangladesh Bank has won the "AFI Global Youth Financial Inclusion Award 2024" for promoting financial inclusion among the country's youth. The award, conferred by the Alliance for Financial Inclusion (AFI) at its Global Policy Forum in El Salvador, recognized the central bank's initiatives such as developing financial literacy guidelines, creating a start-up fund for young entrepreneurs, launching a financial literacy website, and opening 4.3 lakh school bank accounts.

Premier Bank PLC recently signed an agreement with LORDS, an English medium school, offering special benefits for the children of the bank's employees and customers. The agreement provides a 100 percent waiver on admission fees, security deposit, and admin costs, along with special discounts on monthly tuition fees. The signing ceremony took place at the bank's head office in Dhaka, where high-level officials from both organizations were present.

Prime Bank has signed an agreement with Miura Bangladesh to provide exclusive banking benefits to the company's employees. Under the agreement, employees will have access to preferential services, including credit card and loan facilities. Additionally, Miura Bangladesh will utilize PrimePay, the bank's digital portal, to automate salary payments and conduct corporate transactions 24/7. The signing ceremony took place at Prime Bank's corporate office, with representatives from both organizations in attendance.

Grameenphone and local handset manufacturer Symphony have launched a co-branded smartphone called the ATOM5. Made in Bangladesh, the ATOM5 features a 6.75" HD+ display, a 1.6GHz Octa-Core Processor, 8GB RAM (with 4GB expandable), 64GB ROM, a 52MP dual rear camera, and a 5000mAh battery. The collaboration aims to enhance people's lives by leveraging internet technology throughout the country.