IDLC Finance Profit Drops by 29%

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.

SM Shamsul Alam, chairman of Walton Hi-Tech Industries PLC, is transferring over 3.64 crore shares to his family members. Alam, who owns 6 crore shares (19.81% of Walton), will transfer 1.81 crore shares to his daughter Sabiha Jarin Orona and 90.81 lakh shares to his wife Shahinur Akter Jolly. His other daughter, Tahmina Afrose Tanna, will receive 91.75 lakh shares. The transfer, classified as a gift, will occur outside the trading system within the next 30 working days starting from September 11, 2024.

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.