Corporate
Bangladesh Finance Celebrates 2nd Consecutive Sustainability Award Success
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The Bangladesh Institute of Bank Management (BIBM) has once again recognized Bangladesh Finance for its remarkable achievement of receiving the Top Sustainable Financial Institution Award 2022 from the country’s central bank.
This prestigious accolade marks the second consecutive win for Bangladesh Finance, cementing its commitment to sustainable financial practices. The award was presented to Md. Kyser Hamid, the Managing Director & CEO of Bangladesh Finance, who was joined by Md. Kohinoor Hossain, Head of SME & Sustainable Finance.
The award ceremony took place on Saturday (September 30), at the BIBM Auditorium in Dhaka. Distinguished guests, including Bangladesh Bank’s former Governor Fazle Kabir and Economic Relations Division Secretary Sharifa Khan, graced the event with their presence. Notably, the event was co-hosted by the German Agency for International Cooperation (GIZ Bangladesh).
The awards were bestowed upon sustainability-rated banks and financial institutions, recognizing the top 7 banks in the private sector and the top 4 financial institutions for their commitment to sustainability. Bangladesh Bank had officially declared these awards on August 29, following a comprehensive assessment of various factors, including credit score, capital, corporate social responsibility (CSR) initiatives, rural banking activities, and the sustainability of core banking operations. BIBM, in turn, acknowledged and celebrated these achievements during the event.
Among the attendees was Md. Sajjadur Rahman Bhuiyan, Group CFO of Bangladesh Finance, along with other senior officials, further highlighted the institution’s dedication to sustainable banking practices.
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Mobile Internet Services to be Restored, Users to Receive 5GB Bonus: Palak
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ICT Minister Zunaid Ahmed Palak announced that mobile internet services will be restored from 3pm today (28 July). Additionally, all users will receive a 5GB internet bonus, valid for the next three days. The minister conveyed this information during a media briefing following a meeting between the Information and Communication Technology Division, Bangladesh Telecommunication Regulatory Commission (BTRC), and the Association of Mobile Telecom Operators of Bangladesh.
“It would take a couple more days to restore the internet if people were to be returned the remaining volume of their data packs which were lapsed during the internet blockout, that is why we decided to allot 5GB bonus for everyone,” said Minister Palak. He also expressed regret for the inconvenience caused by the internet service disruption.
Regarding social media platform restrictions, Palak stated that letters were sent to Facebook, TikTok, and other platforms on 28 July, with a response deadline of 30 July. The letter highlighted non-compliance with the country’s constitution and laws. Palak mentioned, “They have removed very few of the contents we asked them to delete. While extremists’ pages remain active, they have taken down 50 pages supported by the Awami League.”
Updates on social media restoration will be provided on 31 July. Palak cautioned against using VPNs, citing security risks.
During the briefing, Secretary of the Posts and Telecommunications Division Dr. Muhammad Mushfiqur Rahman, and BTRC Chairman Engineer Mohiuddin Ahmed were also present. The meeting included participants such as the National Telecommunication Monitoring Center’s DG, CEOs and CTOs of Mobile Financial Services like bKash, Nagad, Rocket, and Upay, as well as mobile operators Grameenphone, Robi, Banglalink, and Teletalk.
Minister Palak previously stated that the internet disruption was not intentional but was caused by the burning of three data centers and hundreds of kilometers of cables, resulting in a Tk500 crore loss for the telecom sector alone. He added that there were attacks at 17 locations in Dhaka Division, with Mohakhali’s data centers housing 18 IIG systems, which host 70% of ISP servers.
Corporate
PM’s China Visit: Nagad Signs Pact with Huawei
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Bangladesh has taken a significant step towards enhancing its digital financial services as NAGAD Limited and Huawei Technologies signed a landmark agreement. The deal aims to revolutionize the country’s digital transaction experience by integrating world-class smart transaction technologies through NAGAD’s digital banking and mobile financial services.
The agreement, signed on Tuesday (July 9) at Beijing’s Shangri-La Hotel in the presence of Prime Minister Sheikh Hasina, marks a pivotal moment for Bangladesh’s digital economy. It underscores the commitment to bolstering digital banking capabilities, ensuring that customers of NAGAD can enjoy seamless international transactions anytime, anywhere.
Representing NAGAD, the agreement was endorsed by its founder and CEO, Tanvir A. Mishuk. Among the dignitaries present were Finance Minister Abul Hassan Mahmood Ali, Foreign Minister Dr. A.K. Abdul Momen, Adviser to the Prime Minister on Industry and Investment Affairs Salman F Rahman, State Minister for Posts, Telecommunications, and Information Technology Junaid Ahmed Palak, and NAGAD’s Chairman Farid Khan.
Huawei’s South Asia Region President and CEO Pan Yunfei signed the agreement on behalf of Huawei. Several senior officials from the Chinese government were also in attendance, highlighting China’s support for Bangladesh’s economic growth and digital inclusion efforts.
Chairman of NAGAD Digital Bank, Farid Khan, commented on the significance of the agreement, stating that over the past five years, Bangladesh has seen a profound transformation in its financial landscape. Now, with global collaboration on the horizon, NAGAD and Huawei aim to propel Bangladesh towards a smarter future. NAGAD’s digital banking initiative will play a pivotal role in achieving a Smart Bangladesh, fostering significant advancements in the country’s economic framework.
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Grameenphone Faces Tk 300 Crore Fine for Call Drop Issues
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The Bangladesh Telecommunication Regulatory Commission (BTRC) has issued a show cause notice to Grameenphone due to an excessive number of call drops. The telecom operator could face a fine of up to Tk 300 crore if it fails to provide a satisfactory explanation.
The notice was issued on July 1.
Junaid Ahmed Palak, the State Minister for Posts, Telecommunications and Information Technology, informed journalists of this development after inaugurating the GPT platform ‘G-Brain’ at the ICT Tower in Agargaon, Dhaka, on Wednesday afternoon.
“We have issued an initial show cause notice to Grameenphone. Further analysis is underway. If they can provide a valid explanation, they may be pardoned as they were last time. However, if they fail to justify their actions properly, BTRC can impose fines ranging from Tk 100 crore to Tk 300 crore,” stated Palak.
He added, “We had asked for explanations from four mobile network operators (MNOs) regarding our test drive on July 30.”
The BTRC conducts ‘Quality of Service (QoS) Drive Tests’ to verify the service quality of mobile phone operators, checking voice calls, data, and network coverage.
Engineer Md. Mahiuddin Ahmed, Chairman of BTRC, mentioned that voice and data services on Grameenphone’s network did not meet the expected standards in the drive test. The BTRC is investigating the reasons behind this shortfall.
“If any operator fails to maintain the expected service quality, BTRC will take action. Customers should not suffer any inconvenience,” emphasized the BTRC Chairman.
According to the Quality of Service (QoS) guidelines, there is a provision for up to 2% call drops for voice calls. For call setups, BTRC has set a specific time limit of seven seconds. Additionally, a minimum download speed of 7 Mbps is required for 4G technology.