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Bangladesh Bank introduce Islamic bond
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VognoDuut1042
Feb 17, 2007, 3:43:48 PM2/17/07
to
BB to introduce Islamic bond,
guidelines for Islamic banks
Staff Correspondent
The Bangladesh Bank is going to introduce an Islamic bond for the Islamic
banks as they cannot take part in the reverse repo auctions, said the BB
governor, Salehuddin Ahmed, on Saturday.
The central bank will also formulate a set of guidelines for Islamic
banking, he told the inaugural session of an international training course
on Islamic finance and financial products co-organised by Prime Bank of
Bangladesh and Red Money Group of Malaysia.
About the ongoing drive against the loan defaulters, Salehuddin said it
had not been properly complying with the laws. 'The law enforcement agencies
can arrest a loan defaulter only if a court, not the central bank, warrants
it,' he said.
What the BB can do is to brief the agencies and the home ministry about
the loan default situation to expedite bringing the defaulters to book, said
the governor.
The central bank's bank inspection department closely monitors the
activities of all the banks and based on its findings, the BB from time to
time issues directives to the banks on how to improve their services.
The BB chief urged the Islamic banks to introduce products like
micro-credits, loans for small and medium enterprises and collateral-free
credits.
He said such banks should follow the Japanese and German model of banking
that is based on sharing, not the Anglo-US model based on interest.
'Although Islamic banking has been seeing a 15 per cent annual growth, it
also faces both external and internal challenges,' Salehuddin mentioned.
The external problem is that Islamic banks do not do any business that
has any involvement with interest while the internal problem arises when a
bank runs both traditional and Islamic banking operations, he explained.
At present more than 300 Islamic banks are operating across the world and
the sector now has an investment to the tune of $200 billion.
The Prime Bank chairman, Imam Anwar Hossain, and managing director,
Shahjahan Bhuiyan, were also addressed the opening session of the training
being conducted by Abdul Kader Thomas, president and chief executive officer
of the Shape Financial Corporation
guidelines for Islamic banks
Staff Correspondent
The Bangladesh Bank is going to introduce an Islamic bond for the Islamic
banks as they cannot take part in the reverse repo auctions, said the BB
governor, Salehuddin Ahmed, on Saturday.
The central bank will also formulate a set of guidelines for Islamic
banking, he told the inaugural session of an international training course
on Islamic finance and financial products co-organised by Prime Bank of
Bangladesh and Red Money Group of Malaysia.
About the ongoing drive against the loan defaulters, Salehuddin said it
had not been properly complying with the laws. 'The law enforcement agencies
can arrest a loan defaulter only if a court, not the central bank, warrants
it,' he said.
What the BB can do is to brief the agencies and the home ministry about
the loan default situation to expedite bringing the defaulters to book, said
the governor.
The central bank's bank inspection department closely monitors the
activities of all the banks and based on its findings, the BB from time to
time issues directives to the banks on how to improve their services.
The BB chief urged the Islamic banks to introduce products like
micro-credits, loans for small and medium enterprises and collateral-free
credits.
He said such banks should follow the Japanese and German model of banking
that is based on sharing, not the Anglo-US model based on interest.
'Although Islamic banking has been seeing a 15 per cent annual growth, it
also faces both external and internal challenges,' Salehuddin mentioned.
The external problem is that Islamic banks do not do any business that
has any involvement with interest while the internal problem arises when a
bank runs both traditional and Islamic banking operations, he explained.
At present more than 300 Islamic banks are operating across the world and
the sector now has an investment to the tune of $200 billion.
The Prime Bank chairman, Imam Anwar Hossain, and managing director,
Shahjahan Bhuiyan, were also addressed the opening session of the training
being conducted by Abdul Kader Thomas, president and chief executive officer
of the Shape Financial Corporation
Torpedo
Feb 17, 2007, 5:53:03 PM2/17/07
to
...in Beggardeshi Harems.
"VognoDuut1042" <zilmore@pilmore> wrote in message
news:VuqdnT3Oqfh79UrY...@comcast.com...
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