0 Dutch Bangla Bank Posted by Samin Yasar Chy | at 8:09 PM

Dutch-Bangla Bank started operation is Bangladesh's first joint venture bank. The bank was an effort by local shareholders spearheaded by M Sahabuddin Ahmed (founder chairman) and the Dutch company FMO.

From the onset, the focus of the bank has been financing high-growth manufacturing industries in Bangladesh. The rationale being that the manufacturing sector exports Bangladeshi products worldwide. Thereby financing and concentrating on this sector allows Bangladesh to achieve the desired growth. DBBL's other focus is Corporate Social Responsiblity (CSR). Even though CSR is now a cliche, DBBL is the pioneer in this sector and termed the contribution simply as 'social responsiblity'. Due to its investment in this sector, DBBL has become one of the largest donors and the largest bank donor in Bangladesh. The bank has won numerous international awards because of its unique approach as a socially conscious bank.

DBBL was the first bank in Bangladesh to be fully automated. The Electronic-Banking Division was established in 2002 to undertake rapid automation and bring modern banking services into this field. Full automation was completed in 2003 and hereby introduced plastic money to the Bangladeshi masses. DBBL also operates the nation's largest ATM fleet and in the process drastically cut consumer costs and fees by 80%. Moreover, DBBL choosing the low profitability route for this sector has surprised many critics. DBBL had pursued the mass automation in Banking as a CSR activity and never intended profitability from this sector. As a result it now provides unrivaled banking technology offerings to all its customers. Because of this mindset, most local banks have joined DBBL's banking infrastructure instead of pursuing their own.

Even with a history of hefty technological investments and an even larger donations, consumer and investor confidence has never waned. Dutch-Bangla Bank stock set the record for the highest share price in the Dhaka Stock Exchange in 2008.

0 Brac Bank Limited (Bangladesh) Posted by Samin Yasar Chy | at 7:56 PM

BRAC Bank awarded prestigious FT Sustainable Bank of the Year 2010

BRAC Bank has been awarded as the Sustainable Bank of the Year 2010 at the FT Sustainable Banking Awards 2010. The award was jointly announced by Financial Times newspaper and IFC at the award ceremony on 3rd June 2010 in London.

The FT Sustainable Banking Awards is presented by the London-based international newspaper Financial Times and IFC, a member of the World Bank Group. Now in their fifth year, the awards recognize banks and other financial institutions that have shown leadership and innovation in integrating social, environmental and corporate governance considerations into their operations. BRAC Bank has been announced as the winner of the 2010 FT Sustainable Bank Award from Emerging Markets in Asia.

Lars Thunnel, Executive Vice President and CEO of IFC presented the award to BRAC Bank's Chairman Mr. Muhammad A. (Rumee) Ali and CEO Mr. Syed Mahbubur Rahman at the gala award ceremony in London. Dr. Atiur Rahman, Governor of Bangladesh Bank was also present in the program that witnessed the presence of more than 250 senior bankers and decision-makers in the area of sustainability. Dr Mo Ibrahim, Chairman and founder, Mo Ibrahim Foundation, and Founder, Celtel International, was keynote speaker at the dinner. The event followed a one-day Sustainable Banking Conference organized by the Financial Times and IFC.

"The award is a global recognition of the unique contribution BRAC Bank has made in establishing a bank that truly believes in socially responsible banking and is making a difference in the lives of many small businesses all over Bangladesh. A segment that was largely ignored by our financial industry. I am sure BRAC Bank model will be replicated in many countries in the years to come" said Mr. Rumee Ali in his initial reaction. "This award has made Bangladesh proud!"

"Broadening financial services to the poor and helping to raise living standards around the world is good for business and good for the global economy", said Lars Thunell, IFC Executive Vice President and CEO. "As these award recipients demonstrate, an increasing number of financial institutions recognize that and are finding innovative ways to expand access to finance and improve the environment."
DHL–Daily Star Bangladesh Business Awards 2008

BRAC Bank received the prestigious Business Award styled DHL-Daily Star Bangladesh Business Awards 2008 as ‘Best Financial Institution of the Year’ for its innovation in products, services, financial performance/ productivity, company management and contribution to Bangladesh’s development. BRAC Bank is a full fledged commercial bank; yet, it has significantly contributed in the development of SME sector by creating a unique model of collateral free SME lending, which enabled the SME entrepreneurs (the missing middle) to get easy access to finance. Furthermore, with its wide distribution network, BRAC Bank reached the greater population even at the distant corners of Bangladesh.

On behalf of the Bank, Mr. Muhammad A. (Rumee) Ali, Chairman of BRAC Bank Limited received the award from Dr. Saleh Uddin Ahmed, Governor, Bangladesh Bank and the chief guest of the award giving ceremony.
BRAC Bank received National Award as the Highest VAT payer for the financial year 2007-2008

BRAC Bank Limited has recently received the prestigious award for being the highest VAT paying organization in national level in service industry.

Dr. ABM Mirza Azizul Haque Honorable Adviser Finance & Planning Ministry, Govt. of People’s Republic of Bangladesh, handed over the award & crest to BRAC Bank Limited at a ceremony held in Osmani Smriti Milonayaton.
BRAC Bank received ICAB National Award

BRAC Bank Limited has been awarded ICAB National Award from Institute of Chartered Accountants of Bangladesh (ICAB) for one of the Best Published Accounts & Reports 2007 recently.

Dr. A. B. Mirza Md. Azizul Haque former Adviser Finance & Planning Ministry, Govt. of People's Republic of Bangladesh, handed over the award to BRAC Bank Limited at a ceremony held in Bangladesh-China Friendship Conference Centre.

0 SME banking now more popular Posted by Samin Yasar Chy | at 8:26 PM

CIB has established the SME Banking activity to become the reliable business partner of SMEs in Egypt, nurturing and meeting the unique needs of Small and Medium size Enterprises (SMEs).

The department works as a one-stop financial centre responding to the funding and business growth needs of SMEs in Egypt, with the aim of having long-term relationships with its customers.

The Bank offers integrated financial and advisory services to contribute to the growth of a more robust entrepreneurial community in Egypt. CIB operates its SME activity through two central units; one is located at its Head Office in Giza and the other in Alexandria at CIB-Sultan Hussein Branch.

CIB Definition of SMEs

* A Small Size Enterprise is a company maintaining annual sales figure above EGP 1M up to EGP 12M.
* A Medium Size Enterprise is a company maintaining annual sales figure above EGP 12M and up to EGP 80M.

What does CIB offer to SMEs?

CIB offers highly qualified financial advice to SMEs in addition to a variety of products range , including but not limited to:

* Medium term financing, up to five years to finance fixed assets (equipment, building, etc.)
* Short term financing (360 days max.) to finance working investment needs
* Contract financing
* Guarantees (bid, performance, and advance payment) to enable the company to participate in tenders and/or obtain its raw material
* Sight/ Time Letters of Credit, to cover the importation of machines and/or raw material
* A variety of liability (deposits) products

Such products are offered through a dedicated team of certified SME officers who are highly specialized in providing advice and assistance in every aspect of entrepreneurial business requirements.

0 Canada Small Business Financing Program (CSBF)Related Sites Posted by Samin Yasar Chy | at 1:48 PM

• Aboriginal Business Canada
• Atlantic Canada Opportunities Agency
• Business Development Bank of Canada
• Business Start-Up Assistance
• Canada Business Service Centres
• Canada Economic Development
• Canadian Intellectual Property Office
• Corporations Canada
• Export Development Canada
• Federal Economic Development Initiative for Northern Ontario
• Managing for Business Success
• Office of the Superintendent of Bankruptcy
• Small Business Guide to Federal Incorporation
• Small Business Research and Policy
• Sources of Financing
• Steps to Growth Capital
• Industry Canada
• Western Economic Diversification Canada

Hyperlinking Notice

Links to Web sites not under the control of the Government of Canada (GoC) are provided solely for the convenience of users. The GoC is not responsible for the accuracy, currency or the reliability of the content. The GoC does not offer any guarantee in that regard and is not responsible for the information found through these links, nor does it endorse the sites and their content.

Users should be aware that information offered by non-GoC sites that are not subject to the Official Languages Act and to which the [name of institution] links, may be available only in the language(s) used by the sites in question.

0 Canada Small Business Financing Program Posted by Samin Yasar Chy | at 1:47 PM

The Canada Small Business Financing Program seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. Under the Program, a small business must apply for a loan at a financial institution (bank, credit union or caisse populaire) of its choice. Application is not made to the Canada Small Business Financing Program Directorate. If the loan is granted by the financial institution, the federal government will reimburse 85 percent of the lender's losses in the event of default.

The Canada Small Business Financing (CSBF) Act was enacted in April 1999 to build on the success of its predecessor, the Small Business Loans Act. The Program's objectives are to streamline loan administration, improve its ability to achieve cost recovery and to extend financing that would otherwise have been unavailable to small-and medium-size enterprises.

While Industry Canada is responsible for the administration of the Program, financial institutions are responsible for all credit decisions and for making the loan

0 Email your Friends Posted by Samin Yasar Chy | at 1:45 PM

Hi there,

I wanted to let you know about Kiva (www.kiva.org), a non-profit that allows you to lend as little as $25 to a specific low-income entrepreneur in the developing world.

You choose who to lend to - whether a baker in Afghanistan, a goat herder in Uganda, a farmer in Peru, a restaurateur in Cambodia, or a tailor in Iraq - and as they repay their loan, you get your money back. It’s a powerful and sustainable way to empower someone right now to lift themselves out of poverty.

Check it out!

0 How Kiva Works Posted by Samin Yasar Chy | at 1:41 PM

Choose an Entrepreneur, Lend, Get Repaid

The below diagram shows briefly how money gets from you to a developing-world entrepreneur, and back.

1) Lenders like you browse profiles of entrepreneurs in need, and choose someone to lend to. When they lend, using PayPal or their credit cards, Kiva collects the funds and then passes them along to one of our microfinance partners worldwide.

2) Kiva's microfinance partners distribute the loan funds to the selected entrepreneur. Often, our partners also provide training and other assistance to maximize the entrepreneur's chances of success.

3) Over time, the entrepreneur repays their loan. Repayment and other updates are posted on Kiva and emailed to lenders who wish to receive them.

4) When lenders get their money back, they can re-lend to someone else in need, donate their funds to Kiva (to cover operational expenses), or withdraw their funds.