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EXIM Thailand highlights development banking role
Exim Thailand announces its stance and readiness to take up a public specialized financial institution's (SFI) role with a complete services list to support Thai businesses deemed beneficial to national development amid the world’s financial crisis. Its announcement was made during a press conference on the “Global Financial Crisis and EXIM Thailand’s New Role in National Development” at the EXIM Thailand Head Office on January 29, 2008.
In its new role, EXIM Thailand will adopt a proactive approach in generating business opportunities for its customers, taking equity interest, promoting imports and domestic investments relating to product quality improvement, logistics and energy development, thereby stimulating Thailand’s export and overall economic growth.
As a state-owned SFI with expertise in trade and project financing, EXIM Thailand is ready to transform into a complete provider of financing facilities for national development purpose to Thai businesses both at home and abroad. Its new emphasis includes domestic investment promotion in the areas that particularly enhance Thailand’s global competitiveness such as logistics and energy sectors.
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PhilEXIM gets credit facility from European Bank
PhilEXIM has secured a 100 million euro-export credit financing facility from Fortis Bank N.V./S.A., a line of credit available to Philippine companies that intend to buy commodities, equipment or services from European countries. These include electric power generators, wind turbines, rail transport equipment, radar system, seaport terminal equipment, hotel equipment, telecom parts, mining exploration and processing machines, water utility and distribution equipment.
Fortis Bank is an international provider of banking and insurance services to personal, business and institutional customers, ranking among Europe's top 20 financial institutions.
Eligible projects are those that support projects of wider strategic significance for the Philippines. The priority sectors are infrastructure, tourism, information and communication technology, power and energy, agricultural modernization and mining.
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ECO-Frontier pursues sustainable finance
Eco-Frontier is the Korean focal point of UNEP/Finance Initiative and ASrIA. As such, it provides consultation on sustainable investing to banks, institutional investors, securities companies and asset managers in Korea. Also, in collaboration with Climate Change Capital in Britain, one of the world's largest carbon fund managers, Eco-Frontier invests in CDM projects at their initial stage and purchase CERs issued from the projects.
Eco-Frontier provides optimized finance strategy to financial institutions for sustainable banking, investing and project financing.
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EFIC, CPA Australia join forces to assist SME exporters
Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency, and CPA Australia signed a Memorandum of Understanding (MOU) to assist Australian small and medium enterprises (SMEs).
The MOU provides a framework for EFIC and CPA Australia to expand their support network to Australian SMEs by leveraging each other’s significant expertise and resources. Activities under the MOU could include joint events targeted at SMEs, sharing of SME-related information and resources, and joint promotions such as seminars and briefings.
“Close to 50,000 of our members are advising and/or working in small and medium-sized businesses,” said Alex Malley, president of CPA Australia. “Our relationship with EFIC will enable our members to further assist Australian businesses planning to export globally”.
“We envisage that the activities we undertake under this MOU will build awareness of EFIC among CPA Australia members and our role in promoting export and overseas investment,” said Stuart Neilson, EFIC’s chief financial officer.
In 2006, EFIC launched EFIC Headway, a product designed to help eligible SME exporters access additional working capital finance from their participating bank to boost their export growth. EFIC is exploring new products aimed at extending its services to a greater number of SME exporters.
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BDC creates new aboriginal fund
Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency, and CPA Australia signed a Memorandum of Understanding (MOU) to assist Australian small and medium enterprises (SMEs).
The MOU provides a framework for EFIC and CPA Australia to expand their support network to Australian SMEs by leveraging each other’s significant expertise and resources. Activities under the MOU could include joint events targeted at SMEs, sharing of SME-related information and resources, and joint promotions such as seminars and briefings.
“Close to 50,000 of our members are advising and/or working in small and medium-sized businesses,” said Alex Malley, president of CPA Australia. “Our relationship with EFIC will enable our members to further assist Australian businesses planning to export globally”.
“We envisage that the activities we undertake under this MOU will build awareness of EFIC among CPA Australia members and our role in promoting export and overseas investment,” said Stuart Neilson, EFIC’s chief financial officer.
In 2006, EFIC launched EFIC Headway, a product designed to help eligible SME exporters access additional working capital finance from their participating bank to boost their export growth. EFIC is exploring new products aimed at extending its services to a greater number of SME exporters.
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BDC creates new aboriginal fund
The Business Development Bank of Canada (BDC) announced a partnership agreement with the Nuu-chah-nulth Economic Development Corporation (NEDC) to create a new Aboriginal Business Development Fund (ABDF) to benefit entrepreneurs in the Nuu-chah-nulth trading area. BDC will invest $250,000 in capital for the micro credit loan fund and qualified entrepreneurs will be able to obtain business loans of up to $20,000.
The Nuu-chah-nulth Economic Development Corporation will identify entrepreneurs who are potential loan candidates. Through the corporation's established Youth Entrepreneurship program, candidates will be offered appropriate business training including mentoring and education on such topics as human resources management, financial planning, marketing and problem resolution. The emphasis will be placed on the candidate's management capacity, business feasibility, and commitment as opposed to equity and security.
Aboriginal communities show higher rates of new business and self-employment than the Canadian average, with more than 30,000 Aboriginal people currently running their own businesses. Increased activity means greater need for a variety of consulting and financial services.
BDC is a financial institution wholly owned by the Government of Canada. BDC actively supports the development and growth of Canadian small and medium-sized businesses through its complementary financing, investment, and consulting services.
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CDB to provide student loans
The China Development Bank (CDB) Fujian Branch signed with the Education Department of Fujian Province, the Framework Agreement on Financial Cooperation on January 4, 2008 in Fuzhou, mutually confirming the first batch of six cooperative higher learning institutions, namely, Fuzhou University, Fujian Normal University, Fujian University of Medicine, Fujian University of Traditional Chinese Medicine, Fujian University of Technology and Jiangxia College (under establishment).
Both institutions will intensify their support to higher education and provide pilot national student loans for qualified higher learning institutions under the jurisdiction of Fujian Province.
The Education Department of Fujian Province also released on January 4, 2008 , the 10 newly-selected construction projects of internship and training bases for higher vocational education, namely, biological technology application (horticulture) of Fujian Vocational and Technical College of Agriculture, modern logistics of Fujian Vocational and Technical College of Foreign Economy and Trade, modern textile technology of Sanming Vocational and Technical College, digital control and mold designing technology of Fujian Vocational and Technical College of Information, electric engineering and electric automation of Fujian Vocational and Technical College of Water Conservancy and Electric Power, nursing of Fujian Vocational and Technical College of Medicine, movie, television and animation of Fuzhou Vocational and Technical College, oral cavity skills of Amoy College of Medicine, biological pharmaceutical technology of Zhangzhou Vocational and Technical College of Medicine and import and export business of Fujian College of Commerce.
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KDB tops the 2008 integrity survey
Korea Development Bank (KDB) topped the 2008 Integrity Survey by Korea Independent Commission Against Corruption scoring 9.68 out of 10. The survey is a measurement of integrity the citizens experienced through the public services provided by the companies. Jointly conducted by Gallup Korea and Korea Research and commissioned by the Commission, the survey is well known for its exceptional accuracy and reliability.
KDB’s score went up 0.34 points from a year ago. The Bank’s commitment to integrity was highlighted as none of the respondents received any preferential treatment of gifts from the Bank. KDB was ranked highest among financial institutions in the same survey conducted in 2006 and 2005. The evaluation in KDB was based on transactions with the Bank in the areas of lending, investment, guarantee, and global banking.
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SME Bank Malaysia to be a separate entity
Small and Medium Enterprise Bank Bhd (SME Bank) will be upgraded and made a separate entity from its parent company, Bank Pembangunan Group, beginning this April.
Second Finance Minister of Malaysia Tan Sri Nor Mohamed Yakcop said the decision was in line with the government's plan to provide a better support to the small and medium-sized enterprises (SMEs). He said with the move, the government expected SME Bank to be more efficient. He added that SME Bank would continue with its core business of providing financing to SME players while Bank Pembangunan would focus on bigger and long-term financing services.
The SME Bank was formed three years ago following the merger between Malaysian Development and Infrastructure Bhd and the Malaysian Industrial and Technological Bank Bhd. Up to November last year, the SME Bank had approved financing for 1,539 projects nationwide worth RM2.9 billion.
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MIDF reaches out to underprivileged children
Fifty underprivileged children from poor families were overjoyed to receive various school kits and cash from caring corporate citizen Malaysian Industrial Development Finance Berhad (MIDF).
The children, from two schools namely Sekolah Kebangsaan Sri Setia Jaya and Sekolah Kebangsaan Mawai received a bicycle, school uniforms, shoes, school bags, stationeries and other basic school items, worth more than RM 600.00 each.
Encik Mohd. Najib, Group Chief Executive/Director of MIDF, said that this is one of the many CSR programmes undertaken by the Company for the year and is similar to all previous MIDF’s CSR efforts. MIDF adopted education as the platform for its CSR initiatives in view of its paramount importance to the country’s development and progress. This is also in support of the Government’s effort to develop better quality human capital.
Committed to its CSR programme, MIDF has held similar activities throughout year 2007. Last year, MIDF had contributed school kits and other necessities to poor and needy school children from schools around Kuala Kangsar and Kuantan as part of its CSR tour. Earlier in January 2008, MIDF had established a study corner at a City Hall flat in Kuala Lumpur. MIDF had refurbished and furnished an existing flat unit to turn it into a conducive study corner for children as well as for the usage of the surrounding community.
MIDF is looking forward to execute more comprehensive CSR programmes throughout year 2008, incorporating and emphasizing on the importance of education in all of its CSR efforts.
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TDBM president receives “Silk Road Award”
Mr. Randolph Stanley Koppa, President of Trade and Development Bank of Mongolia (TDBM), was honored by the Mongolian National Chamber of Commerce and Industry (MNCCI) with its 2007 Silk Road Award for his contribution to sustainable growth in the local financial sector.
The Chamber has been organizing the Silk Road Award event since last year to provide support and recognition to businesses making a meaningful contribution to sustainable growth in the local economy.
Mr. Koppa has been with TDBM since October 2004. He is an international banker who has worked in 12 countries over his 40-years career. For the past 15 years, he had been with ING Bank provided technical and managerial assistance to TDBM.
TDBM has become the first Mongolian bank with total assets increasing to MNT 500 000.0 million. Furthermore, a credit rating of B2 from Moody’s, one of the world leading agencies, improved recognizability of TDBM in international markets. This allowed TDBM to successfully complete the first ever public placement of debt by a Mongolian company in the international capital markets with a USD 75 million senior unsecured bond issue within a USD 150 million Euro medium Term Notes (EMTN) Program arranged by ING Bank.
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ZTBL organizes Zonal Chief Conference
Zarai Taraqiati Bank Limited held its two- day 4th Zonal Chief Conference at its headquarters in Islamabad Pakistan on January 28-29, 2008. During the event, ZTBL stated that it must focus on expanded outreach to disburse minimum target of Rs. 65 Billion as farm credit this year. Recovery of SAM loans of Rs. 10 Billion and deposit base of Rs. 6 Billion will be this year's target.
While unveiling the bank's future business strategy, the Bank President, Mr. Mansur Khan, stressed upon the field functionaries to identify new borrowers and initiate innovative products which are commercially viable for the Bank's financial stability.
The Zonal Chiefs Conference reviewed the performance of the zones in respect of operations, i.e. disbursement and recovery of past dues and deposit mobilization. The participants of the conference identified potential areas of investment to regain lost market share. The participants also divulged upon vitality of various schemes and development of new schemes and income generation activity which could help in increasing agriculture sector's contribution towards GNP.
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NDB launches fisheries credit scheme
The National Development Bank of Papua New Guinea (NDB) and the country's National Fisheries Authority (NFA) have inked an agreement to fund and provide loans to interested people willing to venture into the fishing business.
In line with the agreement, NDB has already funded projects in Morobe Province and is already looking at expanding it to other provinces as well. The NDB, having realized the potential in the Central Province, has finalized agreement between the Central Provincial Government and the Gabagaba Fishermen Association to provide loan assistance to the fishermen of Gabagaba Village. The loans are to assist fishermen purchase fishing gear and equipment to improve their catch output and also improve in quality control, which in turn will increase revenue.
Under this agreement the Central Provincial Government has allocated counter funding of K100, 000.00 which will be held by the Bank as security. NDB will then provide loans to the people of Central Province to assist start up new fishing business or improve and expand on their existing business.
The success of the Gabagaba Fisheries Project will pave a way for the Bank to extend these services to other districts of the Central Province and to other provinces as well.
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NDB launches fisheries credit scheme
The National Development Bank of Papua New Guinea (NDB) and the country's National Fisheries Authority (NFA) have inked an agreement to fund and provide loans to interested people willing to venture into the fishing business.
In line with the agreement, NDB has already funded projects in Morobe Province and is already looking at expanding it to other provinces as well. The NDB, having realized the potential in the Central Province, has finalized agreement between the Central Provincial Government and the Gabagaba Fishermen Association to provide loan assistance to the fishermen of Gabagaba Village. The loans are to assist fishermen purchase fishing gear and equipment to improve their catch output and also improve in quality control, which in turn will increase revenue.
Under this agreement the Central Provincial Government has allocated counter funding of K100, 000.00 which will be held by the Bank as security. NDB will then provide loans to the people of Central Province to assist start up new fishing business or improve and expand on their existing business.
The success of the Gabagaba Fisheries Project will pave a way for the Bank to extend these services to other districts of the Central Province and to other provinces as well.
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Plantersbank to boost farm incomes in the countryside
Plantersbank has increased support for small and medium-scale agribusinesses in a move to help boost productivity and incomes in the Philippine countryside.
As small and medium-scale entrepreneurs integrate with the supply chains of leading food processing giants like San Miguel Purefoods Corporation (SMPFC), Plantersbank seeks to fill the gap in financing requirements of these specialized SMEs.
Recently, SMPFC and San Miguel Foods, Inc. (SMFI) tapped Plantersbank to provide financing for business expansion, facilities improvement and purchase of equipment by contract growers and distributors of the SMFI group which includes BMEG, SMFI-Agri and SMFI-Poultry.
Mr. Tito Tirones, Plantersbank senior vice president and head of the SME Banking Group said similar arrangements will enable Plantersbank to contribute to improving efficiency in the contract growing and food marketing sector to the benefit of consumers.
In southern Philippines, Plantersbank is helping banana growers sustain global competitiveness by financing the rehabilitation of plantations, expansion of facilities and acquisition of modern equipment.
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NBU gets stable rating
Moody`s Investors Service said it assigned National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) a bank financial strength rating (BFSR) of `E+`, long and short-term local currency deposit ratings of `Ba3/Not Prime` and long-term and short-term foreign currency deposit ratings of `B3/Not Prime` with a stable outlook.
Moody`s said NBU`s ratings reflect the bank`s strong franchise value within the context of Uzbekistan, where the bank has a dominant share in terms of assets, capital and loans, as well as the bank`s utmost importance for the Uzbek economy given its major role in attracting and conducting foreign investments to the country and servicing foreign trade operations.
However, NBU`s ratings are constrained by its current low profitability and cost-efficiency, the low diversification of its funding base and a degree of uncertainty relating to the bank`s asset quality, as well as its corporate governance and risk management practices, which are currently in the process of development.
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AMZ to launch mobile payment system in Sri Lanka
AMZ Ventures Limited is presently negotiating joint venture with an established group in Sri Lanka to launch a mobile payment system in Sri Lanka, followed by other countries. This system will enable consumers to directly access their bank accounts for payments to third parties via their mobile phones. AMZ is hopeful that the product launch will take place by first quarter of this year. This is an exciting development as the core technology platform for SMS banking product has been developed by a subsidiary of AMZ—AAPL, formerly Go Internet & Software Services (Pvt), Ltd. This business model will enable a company to unlock the inherent value of the SMS banking software.
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Asaka Bank attracts credit lines for 200m euros
Asaka Bank, the second largest Uzbek bank, attracted credit lines of international financial institutions for 200 million euros.
The bank financed 52 investment projects, which allowed to create 4,900 new jobs. The projects also allowed to launch export-oriented and import-replacing production.
Recently, the Uzbek bank attracted credit line for US$8 million from Islamic Development Bank.
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BIM’s quality management system certificate extended
Following the surveillance ISO9001:2000 audit process, the quality management system’s certificate of Bank of Industry and Mine (BIM) has been extended by the SGS certification body for one more year.
BIM is the first Iranian state bank that has implemented ISO 9001:2000 quality management system for granting financial facilities, credits and banking services as a development bank through all the process running at the Bank’s head quarters and all its branches.
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 48,000 employees, SGS operates a network of over 1,000 offices and laboratories around the world.
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CDA promotes Qualifying Certificate (QC) program
CNMI Public Law 12-31, as amended, established the Qualifying Certificate Program to promote continued economic development in the CNMI. A “Qualifying Certificate” is a contract valid for a given period of time, approved and granted by the Governor upon recommendation of the CDA Board, between the Government of the Northern Mariana Islands, and the Beneficiary. In return for investment in the CNMI, the beneficiary qualifies for certain tax rebates or tax abatements or both.
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CGC and D&B to establish SME Credit Bureau
The Credit Guarantee Corporation Malaysia Berhad (CGC) and Dun & Bradstreet (D&B) Malaysia Sdn Bhd have entered into a strategic alliance to establish a SME Credit Bureau.
The SME Credit Bureau is a central databank of credit information on Small and Medium Enterprises (SMEs) and will act as a key source of information on registration details, credit track records, debt level and obligations, financial statements and trade partners of SMEs.
Banks and other financial institutions will be able to avail themselves to a comprehensive range of information on the SMEs in the country from the central database of the Bureau. Convenient, timely and efficient access to SME information and credit ratings is expected to assist the lending institutions to make more objective and speedier evaluation of loan applications from SMEs.
Both CGC and D&B are confident that the establishment of the Bureau will further promote the development of a sound credit culture among financial institutions and SMEs.
The Bureau would also encourage non-financial entities, including the SMEs themselves to share information through the Bureau. In this regard, the members of the business community could use the Bureau to decide with confidence when evaluating existing and prospective trade credit or other business deals.
To increase membership, both CGC and D&B will work closely with financial institutions and SME-related trade associations to ensure that SMEs are convinced of the bureau’s role in helping them to improve their access to finance. In addition, SMEs will also be made aware of the benefits of joining the Bureau and encouraged to be transparent in reporting their financials.
The Bureau is poised to be an integral component of the developing credit information infrastructure in Malaysia. Its establishment is expected to contribute significantly towards assisting or enabling SMEs to gain access to the financial markets.
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DFCC administers RERED project
The DFCC Bank has been appointed as the Project Administrative Unit for the Renewable Energy for Rural Economic Development (RERED), a project of the Government of Sri Lanka, assisted by International Development Association of the World Bank and Global Environment Facility.
The project aims to expand the commercial provision and utilization of renewable energy resources and improve the quality of life in rural areas of Sri Lanka. It also follows the successful Sri Lanka Energy Services Delivery Project which was completed in 200.
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DBAS administers revolving loan fund
The Development Bank of American Samoa (DBAS) is administering the Economic Development Revolving Loan Fund (EDRLF) program through funding appropriation for from the Economic Development Agency of the United States Department of Commerce. The EDRLF program provides loan funding to private sector businesses engaged in job creation, export development, import substitution, and entrepreneurial development.
Maximum loan amount is US100,000 with interest rate of 9.00% to 11.00% per annum. The term is up to 15 years and this program is open to all local private businesses.
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EXIM Thailand to provide equity capital to companies with listing potential
EXIM Thailand announces its readiness to make equity investment as long-term business partner in high-growth customer companies with an aim to encourage their eventual listing on the stock markets. This initiative will benefit EXIM Thailand customers’ fund-raising efforts which will in turn open up their new trade and investment opportunities in the international arena.
Dr. Narongchai Akrasanee, Chairman of the Board of Directors, EXIM Bank Thailand, Mr. Pakorn Malakul na Ayudhya, Chairman of the Stock Exchange of Thailand, and Dr. Apichai Boontherawara, EXIM Thailand President, recently participated in the panel discussion titled “Capital Market and Business Potential Enhancement” organized by EXIM Thailand to suggest ways to fuel the growth of customer’s businesses through supporting them in their listing on the stock markets (both the Stock Exchange of Thailand and the Market for Alternative Investment).
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FCIB helps in the development of capital market in Pakistan
First Credit and Investment Bank Limited (FCIB) is engaged in the development of capital market in Pakistan. Its major activities include development of secondary market of the securities. It has been mainly concentrating on fixed income securities as well as trading in equity stock. It has been continuously engaged in planning and development of innovative products and services as financial and technical assistance, presently its major operational activities are in the following fields: (i) Trading, discounting and market making of securities; (ii) Advisory services for raising resources from the capital market; (iii)Underwriting public issues of Term Finance Certificates and other negotiable term obligation; (iv) Brokerage, advisory, consultancy and arranging services for issues of shares, TFCs and other debt instruments; (v) Issuing guarantees and counter guarantees; (vi)Working as trustee / security agent; (vii) Brokerage services for money market transactions; (viii)Aiding and facilitating securitization; (ix) Assisting companies requiring cash management system; and (x) Arranging consortium for raising long term and short term funds for industries and business.
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Fiji Development Bank ratings outlook improves, ratings affirmed
Standard & Poor's Ratings Services recently lifted the outlook on the Fiji Development Bank (FDB) to stable from negative. At the same time, Standard & Poor’s affirmed its ‘B’ long-term foreign currency and ‘B+’ long-term local currency credit ratings on FDB. The ‘B’ short-term ratings on FDB were also affirmed.
These changes follow Standard & Poor’s affirmation of the ratings and return to a stable outlook on FDB’s owner, the Republic of Fiji Islands (Fiji). The ratings on FDB reflect its status as Fiji’s official development bank and the bank’s close relationship with and partial guaranteed support from the government of Fiji.
Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE:MHP), is the world’s foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research, and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries and markets, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years, providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.au.
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HBFC Limited introduces new “Customer Care Call Centre”
The House Building Finance Corporation Limited introduced its new “Customer Care Call Centre”. Syed Safwanullah, MNA and Ex-Federal Minister for Housing inaugurated the HBFC Limited Customer Care Call Centre at the HBFC Ltd Head Office, Karachi.
The main purpose of establishing a Customer Care Call Centre is to provide prompt and updated information to valuable customers of the Corporation and the general public as well. This Customer Care Call Centre will perform as an information providing centre to facilitate the existing and intending customers of HBFC Limited and will provide detailed information to common citizens about Corporation’s products, investment policies and procedure.
The formation of HBFC Limited Customer Care Call Centre is bifurcated into two sections. One Section will facilitate the existing customers regarding their accounts status, through the centralized HBFC Customer Data Base. The other Section has a provision of providing information regarding availing the financing facility through different products. This Section also has a complete system of recording complaints and prompts follow up of replies.
HBFC Limited has a large network of 80 offices spanning across the country, managed through 12 zones with headquarters at Karachi. Under its expansion of Outreach Program, HBFCL’s presence would expand to more than 100 cities by end of year 2007. Unlike other financial institutions engaged in housing finance, the bulk of the loan disbursements of HBFC Ltd are to low and middle income groups, and for construction of house, as against outright purchase and renovation. Under its new mission, the HBFCL aims to be the housing bank for Small & Medium Housing (SMH) finance, focusing on low & middle income groups of population.
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NHB initiates new housing initiatives to protect and educate consumers
As the apex financial institution for housing in the country, National Housing Bank has embarked on action relating to consumer issues in housing finance. A number of new initiatives to promote consumer protection and education have been initiated. NHB has issued Guidelines on Fair Practices Code for housing finance companies. These Guidelines lay down minimum standards required to be observed while dealing with customers. Similarly, Investment Grade Credit Rating has been made compulsory for all housing finance companies accepting public deposits. NHB is developing a portal on housing and housing finance initially in English and Hindi, and later in other regional languages to provide access to consumers for credible wide ranging information.
National Housing Bank seeks to launch following twin new initiatives with a view to further the cause of customer protection and education in the housing finance field;
i. Promote a common Forum of banks and housing finance companies engaged in the field of housing finance, which can in due course develop into a Self Regulatory Organisation (SRO).
ii. Introduce a system of Certified Independent Mortgage Counsellors who will provide fair and objective information on the implications of raising housing loan, various requirements for availing housing loan and terms & special features of various housing loan schemes available from the banks and housing finance companies. Members of public, if they so desire, will be able to avail such guidance from the proposed Mortgage Counsellors on payment of reasonable charges
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NDBL receives International Leadership Star for Quality Award 2007
Nepal Development Bank received International Leadership Star for Quality Award 2007 for outstanding business achievements and for perseverance and leadership in excellence and quality in accordance with the QC100 Criteria.
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Pak Oman gets reappointment as Primary Dealer for 2007-08
State Bank of Pakistan (SBP) has reappointed Pak Oman Investment Company as Primary Dealer for the financial year 2007-08. This reappointment is based on the active role played by Pak Oman in the development of primary and secondary markets of government securities in accordance with instructions issued by SBP.
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Seylan Bank rewards whiz kid and family
Demonstrating its commitment to help the younger generation and as a “Bank with a Heart”, Seylan Bank has rewarded a brilliant student who got a perfect score of 200 marks out of a maximum 200 at the Grade 5 Scholarship examination. The boy is also a “Tikiri” Account holder of the Bank.
In recognition of his achievement, Chagi Barusu Weerakon and his family has been awarded with a package tour in Singapore. The duration of the tour would be 5 nights and 6 days and this would cover education cum entertainment such as visit to the Discovery Center and Science Center, Jurong Bird Park, Sight Safari and Sentosa Morning Tour, including 4d Magix and the Sentosa Glitter tour.
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ODB launches new website
The Oman Development Bank launched its brand new and freshly revamped website www.odboman.net inspired by the bank entering a new era of customer orientation and high quality services.
ODB Chairman, H. E. Yahha Al Jabri said the new website was aimed at keeping pace with the information age and stressed on the importance of digital economy and online services. He added that the new website would help in providing more comprehensive information on the bank and its products and services to its customer, prospects and stakeholders.
With the new website, the Bank’s customers and clients now have the facility to download loan application forms, survey forms, calculate loan amounts, provide online feedbacks, and testimonials.
Another important feature of the website would be highlighting the success stories of the ODB customers.
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Vnesheconombank and Korea Development Bank enter into agreement
The State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and The Korea Development Bank entered into Agreement on Cooperation.
The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and Korea Development Bank Governor Chang –Lok Kim.
The Agreement aims to establish partner relations in trade and project financing, syndicated loans and in sharing and exchanging experience in various fields associated with financial institutions’ business.
Under the Agreement the two sides are determined to promote joint mutually beneficial cooperation aimed at generating profits.
KDB was established in 1954 and is the State Development Bank of the Republic of Korea. The Bank occupies fourth place in the country and 101st place in the world by the amount of assets.
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Shri M D Mallya receives ‘PUNE 2007 Super Achiever Award
Shri M D Mallya, Chairman & Managing Director, Bank of Maharashtra, received ‘Pune 2007 Super Achievers Award’ as a recognition for his efforts in improving the overall performance of the Bank. The entire event was sponsored & organised by the Institute of Business Management & Research (IBMR) under the aegis of Audyogik Shikshan Mandal, Chinchwad, Pune and Vision India respectively..
The other recipients of Pune-2007 Super Achievers Award are Shri. Madhur Bajaj, Vice Chairman, Bajaj Auto Limited; Ms. Sulakshana Patankar, COO, WNS, Global Services and Ms. Priti Rao, Senior Vice President and location head, Infosys Technologies, Pune.
In his address Shri M D Mallya dedicated ‘Pune 2007 Super Achievers Award to the entire team of 14000 employees of Bank of Maharashtra. He reiterated the importance of Team Work and mentioned success as the fruit of Team Work. Shri. Mallya said that Indian economy is booming & over all growth of economic development will result to the growth of the nation.
“The world of Banking is very dynamic and competitive and seeks continuous support from customers” said Mr. Mallya. He thanked the customers for their continuous support and mentioned that Bank of Maharashtra is celebrating the year 2007-08 as a ‘Customer Service Year’ and is committed to rendering quality service to the customers.
The Bank strives to become a “Customer Centric, Innovative, Technology Savvy, Modern Bank with strong fundamentals and is aligning itself with global standards of performance”.
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