Foreign liaison offices promote substandard RMG : NSI report

Foreign liaison offices promote substandard RMG : NSI report

Published : Wednesday, 28 August 2013
Source: The financial Express


The National Security Intelligence (NSI) has found a major role of foreign liaison offices in Bangladesh in expansion of production of sub-standard readymade garments (RMG) by sub-contracting companies.

In an investigation report, the agency identified the intention of maximisation of profit by liaison offices as one of the major causes of collapse of the Rana Plaza and fire incident of the Tazreen Fashions.

Brigadier General TM Jubair, Director of the NSI Director General's (DG's) office, sent the report to the ministries of commerce, industry, home affairs, the National Board of Revenue (NBR) and the Board of Investment (BoI).

The agency recommended for legal actions by strengthening the BoI and forming a monitoring cell with the participation of intelligence agencies to stop such malpractices.

Following the recommendations of the investigation report, the BoI has formed a three-member probe body, comprising the officials of the BoI, the ministry of commerce (MoC) and the NBR.

The committee will investigate allegations raised against two BoI-registered liason offices -- Simple Approach Ltd and Norwest Industries -- for not abiding by the compliance requirements.

The agency report said investors can open a liaison office by keeping bank deposits worth US$ 50,000 but most of these investors remained out of supervision of the government entities after making investment.

However, the amount of investment that was fixed ten years back, remains still valid although that is inadequate in the present-day economic context.

The agency suggested the BoI and the NBR to strengthen monitoring of issuance of work permits and collection of taxes from such liaison offices.

Mainly the citizens of India and Sri Lanka are largely in control of the affairs of the liaison business, branch office, multinational companies or trading businesses as they can get B or T visa easily, the NSI report pointed out.

Such liaison businesses have caused a negative impact on growth of the local industries and promotion of the goals of sustained economic development, it said.

"Growth of the country's readymade garments industries is under a threat due to desperate activities of liaison offices," it added.

Liaison offices were associated with the Rana Plaza and the Tazreen Fashions.

Two RMG factories -- New Wave Style and New Wave Button -- out of five garments factories at the Rana Plaza were supplying orders to a liaison office named, M/s Simple Approach Ltd.

"New Wave was making garments for the UK-based Primark Stores Ltd. The order-supplying buying house of the company was the Norwest Industries Ltd," the report said. The owners of the Simple Approach and the Norwest are the Indian citizens.

Another company -- PPS group -- is operating two liaison offices in the style of Zamira Fashion Ltd and Anand Fashion Int. agency.

The companies are resorting to the same illegal practices, forcing local garment industries to cut cost by depriving workers and compromising on compliance requirements.

"These companies are taking a maximum amount of commissions from sub-standard factories and do repatriate money. Local factories receive less than half of the actual prices for their products that are paid by importers," the report said.

The agency also reported that there were hundreds of foreign citizens who obtained the so-called work permits from the BoI.

It has identified the Simple Approach that employs 26 officials and other members of its staff. Of them, 23 are Indians, two British and one American.

The company is showing a lower amount of salaries being paid to the members of its staff than the actual ones, the report noted while stating that the company has shown Tk 0.1 million as the amount of salary for its American official.

"There is a possibility to conceal salary income of foreign nationals to evade taxes," the report said.

With the recommendations, the income tax wing of the NBR recently sent letters to its concerned tax offices to strengthen monitoring of collection of taxes from foreign nationals and companies.

A senior tax official said foreign nationals are required to pay tax at 25 per cent of their incomes and there is no tax-exempted limit for them.

He, however, acknowledged that tax collection from foreign citizens is not satisfactory compared to that of the growth of foreign employees in the local and multinational companies, operating in the country.

Specialised banks, DFIs open branches under pressure MoF approval to be made mandatory

Specialised banks, DFIs open branches under pressure MoF approval to be made mandatory

Published : Wednesday, 28 August 2013

Source: thefinancialexpress

The county's specialised banks and development financing institutions (DFIs) are opening branches in different places under pressure from various quarters without any prior feasibility study, sources said.

Most of the branches, opened under pressure from vested quarters, incur financial losses for years, they added.

With a view to reducing such practice, the ministry of finance (MoF) is likely to make its approval mandatory before sending proposals by these institutions to the Bangladesh Bank (BB) for opening new branches.

The MoF recently held a meeting on the issue where the representatives of different specialised banks and DFIs explained the reasons behind opening of branches more than the required ones.

They said they are compelled to open branches under political pressure in some places where operation of such branches is not economically feasible.

The MoF observed that many specialised banks and DFIs submitted proposals in every 2 to 3 years for recruiting new manpower.

A senior MoF official said such banks and DFIs remain dependent on the government's fund whenever they face crisis.

He said the size of the classified loans in most of these institutions is high. These have incurred significant losses years after years.

"These institutions open branches without considering businesses and professional aspects," the official said.

Another MoF official said Bangladesh Krishi Bank (BKB) has nearly 1,000 branches across the country and a good number of these branches have been incurring losses.

"The establishment of branches unnecessarily by these institutions drew our notice when we were reviewing a proposal on raising manpower for the BKB. We think such a large number of branches for a specialised bank are very much unnecessary. These were not opened considering business interests of the bank," he said.

According to the present policy when the board of directors of a bank decide to open a bank branch in a particular area, they send a proposal to the central bank for approval. After that, the BB carries out necessary assessment before providing approval for opening new branches.

The BKB was established under the Bangladesh Krishi Bank Order 1973. It mainly focuses financing in agricultural sector alongside conducting some commercial banking. According to its website, it has 998 branch offices.

Another specialised bank - the Rajshahi Krishi Unnayan Bank (RAKUB) started operation in 1987. The bank took over the operations of 253 branches of the BKB in Rajshahi and Rangpur divisions. Presently, the bank has 374 branches. It has 300 rural and 74 urban branches.

The Karmasangsthan Bank was established in 1998 with an aim of involving the unemployed people of the country especially the unemployed youths in the economic activities through self-employment opportunities for poverty alleviation. Presently it has 80 branches.

The Ansar-VDP Unnayan Bank started operation in late 1996 aiming at poverty alleviation of nearly 5.6 million Ansar and VDP members through self-reliance. Currently the specialised bank has 160 branches across the country.

The BASIC Bank Limited started operation in 1989. It has a blend of development and commercial bank but mainly focuses financing small-scale industries. Presently it has 62 branches.

The Bangladesh Development Bank Limited is a specialised bank which was formed in 2009 through merger of Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha. It has 26 branches.

The Bangladesh House Building Finance Corporation (BHBFC) was established in 1952 to help ease crisis of funds in housing sector. It has 29 zonal and regional offices across the country.

Former Governor of the Bangladesh Bank Dr. Salehuddin Ahmed told the FE both the business aspect and people's interests have to be considered before opening branch of a bank or financial institution.

"They have to consider first whether the branch will be at least self-sufficient. Political pressure or interest of vested quarters should not be considered for opening their branches."

Mr Ahmed said the central bank has set some criteria for new branches. Those have to be followed strictly. "The Bangladesh Bank should not accept any bank's proposal without necessary evaluation."

Will optional PSI help

Will optional PSI help

Published : Wednesday, 28 August 2013
Source: The finacial Express


So the vacillation is yet to be over. The National Board of Revenue (NBR)'s decision to stick to pre-shipment inspection (PSI), though as an optional practice, seems to suggest a lack of belief in its own capacity to shoulder the responsibility of customs valuation. It comes as a partial reversal, if not an u-turn from the government's earlier decision to do away with PSI by phases -- a practice followed for around a decade in Bangladesh to ease valuation-related problems faced by the customs authorities. To this end, the NBR has decided to offer the existing four PSI companies the job of conducting optional pre-shipment inspection of imported goods. The curious part of the government's decision is that making PSI optional is not being mentioned as a step in the direction of gradually scrapping it. No doubt, the government is in a dilemma whether it can face up to the task of customs valuation on its own, despite repeated announcements of customs automation, believed to provide a good respite in the intricacies of the job.

Mandatory introduction of PSI, in some countries including Bangladesh, was mainly intended to ensure that imports comply with the stipulated regulations. Non-compliance with these regulations can result in the loss of duty and tax revenue, loss of foreign exchange reserves and importation of substandard or prohibited goods. To be more precise, the objective commonly attributed to it is that PSI maximises duty collections. By undertaking duty assessment in the country of export, the system offers no opportunity to unscrupulous importers to prevail upon the customs people to assign lower rates on arrival of the goods.

It is in keeping with the above that when the NBR introduced mandatory PSI in the year, 2000, on the transaction value of imported goods, the decision was welcomed by many including the media mainly because of the apparent virtues of the system, which, among others, included transparency. However, over the years, it has come to light that the system is shorn of much of its virtues. There were reported complaints of abuse in the name of fixing transaction value, allowing sub-standard even at times restricted or prohibited goods to be shipped. To address the issue, the government instituted a taskforce in the year, 2009, to suggest measures, and if felt appropriate, suggest a mechanism of phasing out. The decision of phasing out came in the wake of the taskforce's report.

Understandably, the decision to phase out PSI was meant to part with a redundant exercise in an age of technology with automated customs classification, valuation and assessment readily available. Stopping the widely reported practices of misdeclaration and improper fixation of transaction value also calls for an end to the practice. With the optional practice on, it is not clear how long the government plans to get along with it. If it is meant to be part of the phase-out process, it is imperative that the government works out a roadmap. There is a state of uncertainty at the moment as there is also the need to frame new rules to suit the optional PSI.

Rupee hits new record low

Rupee hits new record low

Published : Wednesday, 28 August 2013
Source: The finacial Express

MUMBAI, Aug 27 (AFP): India's rupee plunged to a new low despite suspected central bank intervention and shares tumbled Tuesday on fears about the impact of massive new food subsidies on already strained finances.

Asian shares and currencies were also hit on concerns over possible US military intervention in Syria, raising fears of a spurt in oil prices.

The rupee, one of Asia's worst-performing currencies this year, fell to a lifetime low of 66.07 rupees to the dollar in afternoon trade, slipping past its previous low of 65.56 last Thursday.

Tuesday saw one of the sharpest single-day falls in history, with the rupee plummeting 2.73 percent in value from Monday's close of 64.31.

"The RBI (Reserve Bank of India) is suspected to have sold dollars at 65.90 levels, but it failed to prop up the rupee," a dealer with a forex firm said.

The benchmark Sensex index plunged 3.18 per cent to close at 17,968.08 points, while local prices of gold, considered a safer investment, rose.

What is Risk?

 What is Risk?

In a short sense, Risk is the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility.
In other word, risk is the probable frequency and probable magnitude of future loss.

But in Financial sense, risk is often defined as the unexpected variability or volatility of returns and thus includes both potential worse-than-expected as well as better-than-expected returns. References to negative risk below should be read as applying to positive impacts or opportunity (e.g., for "loss" read "loss or gain") unless the context precludes this interpretation.

The 76th Banking Diploma Examination December 2012 (DAIBB) Result

The 76th Banking Diploma Examination December 2012 (DAIBB) Result

Institute of Bankers, Bangladesh (IBB) has published its 76th Banking Diploma Examination December 2012 (DAIBB) Result. If you are a candidate of 76th Banking Diploma Examination, you can find out your result by bank wise browsing.

The 76th Banking Diploma Examination December 2012 (DAIBB)Result

AB Bank Limited

Agrani Bank Limited

Al-Arafah Islami Bank Limited

Ansar-VDP Unnayan Bank

Bangladesh Bank

Bangladesh Commerce Bank Limited

Bangladesh Development Bank Limited

Bangladesh Krishi Bank

Bank Asia Limited

BASIC Bank Limited

BRAC Bank Limited

Commercial Bank of Ceylon PLC

Dhaka Bank Limited

Dutch-Bangla Bank Limited

Eastern Bank Limited

EXIM Bank of Bangladesh Limited

First Security Islami Bank Limited

IFIC Bank Limited

Investment Corporation of Bangladesh

Islami Bank Bangladesh Limited

Islamic Finance and Investment Limited

Jamuna Bank Limited

Janata Bank Limited

Karmasangstha Bank

Mercantile Bank Limited

Mutual Trust Bank Limited

National Bank Limited

National Credit & Commerce Bank Limited

ONE Bank Limited

Prime Bank Limited

Pubali Bank Limited

Rajshahi Krishi Unnayan Bank

Rupali Bank Limited

Shahjalal Islami Bank Limited

Social Islami Bank Limited

Sonali Bank Limited

Southeast Bank Limited

Standard Bank Limited

State Bank of India

The City Bank Limited

The Hongkong and Shanghai Banking Corporation Limited

The Premier Bank Limited

Trust Bank Limited

United Commercial Bank Limited

Uttara Bank Limited

The 76th Banking Diploma Examination December 2012 (JAIBB)Result

Institute of Bankers, Bangladesh (IBB) has published its 76th Banking Diploma Examination December 2012 (DAIBB) Result. If you are a candidate of 76th Banking Diploma Examination, you can find out your result by bank wise browsing.

The 76th Banking Diploma Examination December 2012 (JAIBB)Result

AB Bank Limited

Agrani Bank Limited

Al-Arafah Islami Bank Limited

Ansar VDP Unnayan Bank

Bangladesh Bank

Bangladesh Commerce Bank Limited

Bangladesh Development Bank Limited

Bangladesh House Building Finance Corporation

Bangladesh Krishi Bank

Bank Alfalah Limited

Bank Asia Limited

BASIC Bank Limited

BRAC Bank Limited

Citibank N.A

Commercial Bank of Ceylon Limited

Dhaka Bank Limited

Dutch-Bangla Bank Limited

Eastern Bank Limited

EXIM Bank of Bangladesh Limited

First Security Islami Bank Limited

Habib Bank Limited

ICB Islamic Bank Limited

IDLC Finance Limited

IFIC Bank Limited

Investment Corporation of Bangladesh

Islami Bank Bangladesh Limited

Islamic Finance and Investment Limited

Jamuna Bank Limited

Janata Bank Limited

Karmasangsthan Bank

Mercantile Bank Limited

Mutual Trust Bank Limited

National Bank Limited

National Bank of Pakistan

National Credit & Commerce Bank Limited

ONE Bank Limited

Prime Bank Limited

Pubali Bank Limited

Rajshahi Krishi Unnayan Bank

Rupali Bank Limited

Shahjalal Islami Bank Limited

Social Islami Bank Limited

Sonali Bank Limited

Southeast Bank Limited

Standard Bank Limited

Standard Chartered Bank

State Bank of India

The City Bank Limited

The Hongkong and Shanghai Banking Corporation Limited

The Premier Bank Limited

Trust Bank Limited

United Commercial Bank Limited

Uttara Bank Limited

Meanings of Loan Syndication

 Meanings of Loan Syndication

Loan Syndication is a practice in which several banks each lend an amount of money to a borrower at the same time and for the same purpose. The banks participating in the loan syndication cooperate with each other for the duration of the project, even if they are otherwise competitors. Bank syndicates usually only lend large amounts of money that the individual banks could not afford easily. Loan syndication is a temporary arrangement between the banks.

In other word, Syndicated loan is a loan provided by a group of lenders, usually commercial or investment banks.  Syndicated loan deals are typically structured and administered by a lead arranger that initially underwrites the transaction and guarantees the total commitment, and later subscribes a given amount of the commitment to other banks in the syndicate.

What is Management by Objective ?

 What is Management by Objective ?

Management by Objectives is a process whereby superior and subordinate managers of an Organisation jointly define its common goals, define each individual's major areas of responsibility in terms Of results expected of him and use these measures as guides for operating the unit and assessing the contribution of each of its members.

The process of setting objectives in the organization to give a sense of direction to the employees is called as Management by Objectives.

It refers to the process of setting goals for the employees so that they know what they are supposed to do at the workplace.

Management by Objectives defines roles and responsibilities for the employees and helps them chalk out their future course of action in the organization.

Management by objectives guides the employees to deliver their level best and achieve the targets within the stipulated time frame.

 Advantages of Management By Objectives MBO

There are many advantages of Management by Objectives. These are-

    Develops result-oriented philosophy: MBO is a result-oriented philosophy. It does not favor management by crisis. Managers are expected to develop specific individual and group goals, develop appropriate action plans, properly allocate resources and establish control standards. It provides opportunities and motivation to staff to develop and make positive contribution in achieving the goals of an Organisation.
    Formulation of dearer goals: Goal-setting is typically an annual feature. MBO produces goals that identify desired/expected results. Goals are made verifiable and measurable which encourage high level of performance. They highlight problem areas and are limited in number. The meeting is of minds between the superior and the subordinates. Participation encourages commitment. This facilitates rapid progress of an Organisation. In brief, formulation of realistic objectives is me benefit of M[BO.
    Facilitates objective appraisal: NIBO provides a basis for evaluating a person's performance since goals are jointly set by superior and subordinates. The individual is given adequate freedom to appraise his own activities. Individuals are trained to exercise discipline and self control. Management by self-control replaces management by domination in the MBO process. Appraisal becomes more objective and impartial.
    Raises employee morale: Participative decision-making and two-way communication encourage the subordinate to communicate freely and honestly. Participation, clearer goals and improved communication will go a long way in improving morale of employees.
    Facilitates effective planning: MBO programmes sharpen the planning process in an Organisation. It compels managers to think of planning by results. Developing action plans, providing resources for goal attainment and discussing and removing obstacles demand careful planning. In brief, MBO provides better management and better results.
    Acts as motivational force: MBO gives an individual or group, opportunity to use imagination and creativity to accomplish the mission. Managers devote time for planning results. Both appraiser and appraise are committed to the same objective. Since MBO aims at providing clear targets and their order of priority, employees are motivated.
    Facilitates effective control: Continuous monitoring is an essential feature of MBO. This is useful for achieving better results. Actual performance can be measured against the standards laid down for measurement of performance and deviations are corrected in time. A clear set of verifiable goals provides an outstanding guarantee for exercising better control.
    Facilitates personal leadership: MBO helps individual manager to develop personal leadership and skills useful for efficient management of activities of a business unit. Such a manager enjoys better chances to climb promotional ladder than a non-MBO type.

 Limitations of Management by Objectives (MBO)


There are several limitations to the assumptive base underlying the impact of managing by objectives, including:

1.   It over-emphasizes the setting of goals over the working of a plan as a driver of outcomes.

2.  It underemphasizes the importance of the environment or context in which the goals are set. That context includes everything from the availability and quality of resources, to relative buy-in by leadership and stake-holders. As an example of the influence of management buy-in as a contextual influencer, in a 1991 comprehensive review of thirty years of research on the impact of Management by Objectives, Robert Rodgers and John Hunter concluded that companies whose CEOs demonstrated high commitment to MBO showed, on average, a 56% gain in productivity. Companies with CEOs who showed low commitment only saw a 6% gain in productivity.

3.  Companies evaluated their employees by comparing them with the "ideal" employee. Trait appraisal only looks at what employees should be, not at what they should do.

When this approach is not properly set, agreed and managed by organizations, self-centered employees might be prone to distort results, falsely representing achievement of targets that were set in a short-term, narrow fashion. In this case, managing by objectives would be counterproductive.
The use of MBO must be carefully aligned with the culture of the organization. While MBO is not as fashionable as it was before, it still has its place in management today. The key difference is that rather than 'set' objectives from a cascade process, objectives are discussed and agreed upon. Employees are often involved in this process, which can be advantageous.

A saying around MBO – "What gets measured gets done", ‘Why measure performance? Different purposes require different measures’ – is perhaps the most famous aphorism of performance measurement; therefore, to avoid potential problems SMART and SMARTER objectives need to be agreed upon in the true sense rather than set.

 Disadvantages of Management by Objectives


There are many Disadvantages of Management by Objectives. These are-

(1). Low morale and high stress levels. If objectives are imposed on employees rather than agreed it can reduce morale and if targets are overambitious it can cause high levels of stress for employees.

(2). Increased bureaucracy. The process of determining and agreeing targets can be very bureaucratic and time consuming due to the number of meetings and discussions needed.

(3). Long term implications. In certain businesses, depending on its corporate culture, management by objectives can lead to short-termism which can lead to the long term detriment of the business. This is especially true in industries or businesses where salaries and benefits are determined the amount of sales made and how they compare to others. This can lead targets to become more focused on quantity rather than quality, appropriateness and ethics.

(4). Unsuitable or unrealistic targets. As circumstances change, targets can quickly become outdated or unrealistic. If the business does not evaluate and change its targets to reflect changes in circumstances, it would most likely reduce the flexibility of a business’s response. There is also no guarantee that targets set will be met which may lead to more time being spent in setting targets rather than achieving them.

In conclusion, despite the apparent advantages of management by objectives its use has declined and is rejected fiercely by many businesses. This is due to the constraint it puts on management thinking. It can cause managers to miss business opportunities due to them being too focused on their targets which are a major problem in business environments that change rapidly and where the business needs to respond quickly to changes. Management by objectives can also lead to a reduction in innovation or creativity in the business when responding to different situations. However, for large businesses that operate in stable markets, management by objectives is still considered to be suitable.

 Features/ Characteristics of the MBO process


Behind the principle of Management by Objectives (MBO) is for employees to have a clear understanding of the roles and responsibilities expected of them. Then they can understand how their activities relate to the achievement of the organization's goal. Also places importance on fulfilling the personal goals of each employee.

Some of the important features of MBO are:

    Motivation – Involving employees in the whole process of goal setting and increasing employee empowerment. This increases employee job satisfaction and commitment.
    Better communication and coordination – Frequent reviews and interactions between superiors and subordinates help to maintain harmonious relationships within the organization and also to solve many problems.
    Clarity of goals
    Subordinates tend to have a higher commitment to objectives they set for themselves than those imposed on them by another person.
    Managers can ensure that objectives of the subordinates are linked to the organization's objectives.

Whats are the characteristics of perfectly competitive market?

 Whats are the characteristics of perfectly competitive market?

A perfectly competitive market is a hypothetical market where competition is at its greatest possible level.  Neo-classical economists argued that perfect competition would produce the best possible outcomes for consumers, and society.

Key characteristics of perfectly competitive market

Perfectly competitive markets exhibit the following characteristics:

1.       There is perfect knowledge, with no information failure or time lags.  Knowledge is freely available to all participants, which means that risk-taking is minimal and the role of the entrepreneur is limited.

2.      There are no barriers to entry into or exit out of the market.

3.      Firms produce homogeneous, identical, units of output that are not branded.

4.      Each unit of input, such as units of labour, are also homogeneous.

5.      No single firm can influence the market price, or market conditions. The single firm is said to be a price taker, taking its price from the whole industry.

6.      There are a very large numbers of firms in the market.

7.      There is no need for government regulation, except to make markets more competitive.

8.      There are assumed to be no externalities, that is no external costs or benefits.

9.      Firms can only make normal profits in the long run, but they can make abnormal profits in the short run.



 Define perfect Competitive market

A perfect market is one where there is perfect competition. This is a model market. It implies absence of rivalry.

According to Boulding, “the competitive market may be defend as a large number of buyers and sellers all engaged in the purchase and sale of identically similar commodity, who are in close contact with one another and who buy and sell freely among themselves”.

75th Banking Diploma Examination, MAY 2012 DAIBB Results

75th Banking Diploma Examination, MAY 2012 DAIBB Results

 

THE INSTITUTE OF BANKERS, BANGLADESH (IBB)

Results of 75th Banking Diploma Examination, MAY  2012

Roll Nos of Successful Candidates  DAIBB   21305, 21310, 21328, 21334, 21353, 21381, 21390, 21438, 21442, 21443, 21444, 21445, 21457, 21468, 21469, 21473, 21475, 21480, 21482, 21517, 21523, 21524, 21529, 21541, 21562, 21571, 21583, 21584, 21587, 21597, 21609, 21610, 21620, 21621, 21627, 21630, 21631, 21633, 21660, 21662, 21672, 21697, 21698, 21719, 21746, 21749, 21752, 21763, 21765, 21779, 21783, 21788, 21792, 21805, 21806, 21807, 21837, 21843, 21855, 21861, 21865, 21877, 21881, 21882, 21897, 21913, 21919, 21924, 21925, 21930, 21933, 21941, 21948, 21951, 21964, 21969, 21983, 21998, 22019, 22025, 22035, 22062, 22078, 22082, 22092, 22101, 22102, 22117, 22124, 22125, 22129, 22141, 22161, 22164, 22168, 22169, 22183, 22186, 22205, 22208, 22217, 22222, 22223, 22231, 22257, 22263, 22269, 22276, 22277, 22281, 22282, 22286, 22287, 22292, 22295, 22300, 22304, 22313, 22318, 22319, 22331, 22339, 22342, 22355, 22358, 22366, 22378, 22384, 22406, 22413, 22416, 22426, 22428, 22459, 22476, 22489, 22521, 22532, 22538, 22543, 22562, 22563, 22566, 22592, 22596, 22597, 22605, 22610, 22638, 22686, 22714, 22747, 22767, 22769, 22790, 22800, 22803, 22826, 22886, 22893, 22900, 22910, 22936, 22981, 23028, 23047, 23070, 23074, 23094, 23112, 23123, 23125, 23129, 23155, 23170, 23206, 23211, 23238, 23255, 23284, 23309, 23310, 23318, 23329, 23377, 23380, 23390, 23392, 23393, 23403, 23404, 23405, 23406, 23433, 23435, 23443, 23451, 23452, 23457, 23464, 23492, 23494, 23515, 23522, 23524, 23525, 23526, 23534, 23548, 23549, 23552, 23560, 23563, 23587, 23589, 23590, 23591, 23594, 23607, 23609, 23613, 23621, 23622, 23623, 23624, 23628, 23630, 23632, 23635, 23636, 23638, 23646, 23655, 23663, 23664, 23665, 23673, 23675, 23676, 23682, 23685, 23691, 23703, 23704, 23717, 23718, 23722, 23728, 23729, 23734, 23765, 23783, 23793, 23798, 23799, 23813, 23817, 23820, 23822, 23823, 23825, 23833, 23835, 23836, 23856, 23870, 23871, 23885, 23894, 23909, 23910, 23913, 23916, 23917, 23921, 23922, 23929, 23932, 23933, 23935, 23936, 23939, 23944, 23964, 23967, 23977, 23991, 24004, 24011, 24014, 24028, 24030, 24035, 24042, 24045, 24062, 24067, 24076, 24077, 24081, 24082, 24090, 24106, 24126, 24127, 24129, 24133, 24140, 24146, 24148, 24161, 24166, 24174, 24178, 24180, 24188, 24190, 24192, 24205, 24220, 24225, 24230, 24235, 24236, 24237, 24254, 24260, 24262, 24264, 24269, 24270, 24273, 24276, 24283, 24293, 24308, 24309, 24315, 24322, 24335, 24340, 24343, 24349, 24350, 24353, 24355, 24356, 24362, 24364, 24369, 24371, 24372, 24396, 24420, 24422, 24427, 24452, 24453, 24454, 24455, 24458, 24462, 24463, 24465, 24466, 24475, 24480, 24484, 24487, 24489, 24496, 24505, 24506, 24517, 24521, 24523, 24527, 24528, 24532, 24533, 24535, 24541, 24543, 24554, 24558, 24560, 24562, 24564, 24568, 24571, 24576, 24584, 24586, 24592, 24593, 24595, 24601, 24602, 24606, 24610, 24612, 24616, 24619, 24625, 24626, 24627 24634, 24635, 24639, 24646, 24651, 24652, 24653, 24654, 24656, 24659, 24668, 24669, 24677, 24683, 24684, 24687, 24694, 24697, 24699, 24701, 24702, 24707, 24708, 24710, 24720, 24721, 24727, 24744, 24746, 24765, 24779, 24783, 24793, 24794, 24796, 24797, 24798, 24799, 24809, 24811, 24832, 24842, 24858, 24873, 24877, 24883, 24884, 24885, 24886, 24887, 24889, 24893, 24895, 24907, 24908, 24917, 24937, 24938, 24939, 24940, 24959, 24968, 25000, 25006, 25011, 25012, 25015, 25017 = 474

75th Banking Diploma Examination, MAY 2012 JAIBB Result

THE INSTITUTE OF BANKERS, BANGLADESH (IBB)

Results of 75th Banking Diploma Examination, MAY  2012

Roll Nos of Successful Candidates  JAIBB  6, 8, 27, 29, 30, 36, 53, 54, 60, 70, 73, 88, 91, 93, 106, 108, 113, 115, 117, 119, 120, 123, 125, 126, 127, 129, 148, 155, 164, 176, 180, 181, 187, 198, 212, 218, 227, 238, 316, 329, 351, 354, 358, 360, 370, 381, 389, 393, 408, 417, 428, 432, 443, 447, 452, 459, 460, 466, 467, 468, 478, 480, 481, 484, 488, 497, 499, 501, 530, 532, 535, 542, 544, 569, 570, 572, 574, 576, 578, 597, 598, 618, 627, 635, 643, 653, 655, 686, 689, 710, 715, 716, 726, 729, 736, 745, 750, 752, 753, 758, 763, 800, 802, 804, 810, 813, 814, 828, 847, 849, 851, 855, 860, 865, 871, 888, 892, 894, 895, 917, 923, 926, 927, 934, 939, 945, 949, 951, 954, 959, 964, 971, 987, 991, 999, 1008, 1028, 1029, 1035, 1036, 1046, 1063, 1076, 1077, 1086, 1134, 1142, 1151, 1152, 1155, 1195, 1200, 1217, 1222, 1223, 1227, 1231, 1235, 1264, 1279, 1287, 1314, 1318, 1322, 1328, 1334, 1344, 1369, 1409, 1410, 1411, 1414, 1439, 1461, 1468, 1492, 1503, 1522, 1543, 1651, 1653, 1655, 1667, 1678, 1680, 1689, 1708, 1722, 1725, 1735, 1742, 1745, 1748, 1754, 1762, 1772, 1773, 1775, 1788, 1857, 1895, 2004, 2008, 2038, 2045, 2049, 2062, 2086, 2106, 2111, 2118, 2130, 2138, 2145, 2163, 2164, 2166, 2212, 2214, 2222, 2229, 2278, 2294, 2295, 2299, 2300, 2324, 2325, 2433, 2376, 2381, 2382, 2395, 2400, 2404, 2422, 2425, 2447, 2458, 2468, 2492, 2531, 2544, 2573, 2577, 2603, 2624, 2651, 2681, 2685, 2688, 2690, 2691, 2693, 2696, 2701, 2710, 2718, 2722, 2732, 2733, 2755, 2765, 2781, 2801, 2822, 2861, 2862, 2866, 2874, 2887, 2901, 2915, 2920, 2921, 2938, 2965, 2967, 2968, 2969, 2970, 2976, 2977, 2989, 2997, 3012, 3020, 3079, 3098, 3117, 3121, 3128, 3131, 3136, 3137, 3145, 3146, 3150, 3152, 3172, 3180, 3184, 3185, 3189, 3190, 3196, 3200, 3201, 3202, 3212, 3231, 3235, 3241, 3243, 3248, 3269, 3298, 3301, 3322, 3324, 3350, 3356, 3370, 3388, 3392, 3393, 3399, 3400, 3415, 3428, 3461, 3473, 3524, 3530, 3531, 3579, 3587, 3605, 3612, 3622, 3654, 3662, 3682, 3687, 3692, 3707, 3715, 3727, 3728, 3734, 3746, 3754, 3756, 3771, 3778, 3794, 3850, 3859, 3885, 3932, 3946, 3947, 3955, 3969, 4007, 4014, 4040, 4138, 4156, 4159, 4164, 4200, 4204, 4264, 4290, 4291, 4315, 4335, 4342, 4351, 4376, 4385, 4390, 4398, 4400, 4505, 4508, 4633, 4634, 4709, 4730, 4785, 4803, 4818, 4836, 4839, 4898, 4906, 4915, 4934, 4938, 4946, 4980, 4991, 5101, 5104, 5109, 5119, 5124, 5128, 5130, 5131, 5132, 5144, 5149, 5150, 5159, 5164, 5165, 5169, 5170, 5178, 5186, 5195, 5219, 5347, 5354, 5355, 5356, 5363, 5365, 5366, 5367, 5368, 5406, 5413, 5435, 5451, 5453, 5470, 5474, 5493, 5508, 5509, 5518, 5540, 5541, 5543, 5544, 5545, 5549, 5551, 5563, 5574, 5575, 5603, 5609, 5615, 5618, 5649, 5716, 5764, 5765, 5768, 5772, 5780, 5805, 5807, 5822, 5834, 5836, 5845, 5846, 5848, 5851, 5863, 5875, 5877, 5878, 5882, 5894, 5902, 5925, 5930, 5933, 5936, 5958, 5969, 5995, 6080, 6326, 6330, 6351, 6354, 6356, 6370, 6373, 6384, 6430, 6432, 6433, 6466, 6524, 6529, 6551, 6553, 6576, 6578, 6579, 6674, 6713, 6718, 6719, 6753, 6756, 6780, 6793, 6794, 6884, 6903, 6917, 6921, 6950, 6970, 6979, 6981, 7000, 7008, 7011, 7021, 7022, 7024, 7029, 7044, 7046, 7054, 7061, 7084, 7090, 7099, 7104, 7109, 7111, 7114, 7117, 7146, 7175, 7183, 7197, 7229, 7230, 7235, 7236, 7238, 7258, 7276, 7320, 7348, 7349, 7352, 7391, 7407, 7425, 7447, 7456, 7463, 7467, 7487, 7489, 7536, 7772, 7906, 7936, 7937, 7966, 7967, 7970, 7971, 7975, 7983, 7985, 7994, 7999, 8015, 8051, 8074, 8102, 8123, 8129, 8146, 8147, 8151, 8152, 8159, 8165, 8168, 8170, 8180, 8181, 8187, 8400, 8407, 8423, 8431, 8433, 8436, 8449, 8455, 8461, 8468, 8486, 8503, 8511, 8516, 8517, 8520, 8526, 8530, 8535, 8542, 8555, 8561, 8564, 8565, 8578, 8581, 8583, 8586, 8587, 8588, 8593, 8594, 8595, 8596, 8599, 8601, 8602, 8613, 8616, 8620, 8621, 8629, 8643, 8646, 8647, 8649, 8650, 8651, 8660, 8674, 8681, 8683, 8697, 8704, 8712, 8754, 8755, 8757, 8762, 8763, 8765, 8767, 8772, 8802, 8808, 8809, 8812, 8813, 8844, 8845, 8857, 8861, 8865, 8867, 8873, 8877, 8879, 8880, 8881, 8882, 8894, 8899, 8900, 8903, 8915, 8922, 8928, 8930, 8935, 8946, 8964, 8965, 8968, 8974, 8999, 9001, 9008, 9011, 9012, 9017, 9018, 9023, 9024, 9026, 9037, 9040, 9049, 9057, 9060, 9153, 9243, 9453, 9455, 9492, 9499, 9512, 9518, 9528, 9531, 9532, 9534, 9535, 9626, 9641, 9642, 9650, 9655, 9675, 9678, 9681, 9687, 9700, 9733, 9739, 9753, 9756, 9771, 9796, 9804, 10132, 10193, 10218, 10234, 10251, 10259, 10260, 10279, 10302, 10318, 10319, 10320, 10321, 10325, 10332, 10395, 10400, 10500, 10538, 10586, 10591, 10731, 10745, 10746, 11002, 11141, 11143, 11144, 11305, 11315, 11325, 11327, 11339, 11347, 11349, 11372, 11376, 11390, 11409, 11414, 11442, 11455, 11461, 11466, 11468, 11473, 11478, 11489, 11504, 11508, 11520, 11525, 11535, 11536, 11539, 11541, 11546, 11561, 11564, 11565, 11569, 11583, 11619, 11638, 11667, 11668, 11694, 11700, 11719, 11723, 11724, 11725, 11750, 11752, 11753, 11766, 11782, 11784, 11789, 11803, 11804, 11811, 11837, 11861, 11867, 11868, 11871, 11872, 11877, 11881, 11887, 11896, 11903, 11923, 11943, 11965, 11977, 11996, 11997, 12027, 12030, 12031, 12034, 12036, 12044, 12056, 12059, 12061, 12087, 12099, 12108, 12112, 12123, 12135, 12153, 12197, 12204, 12206, 12212, 12220, 12257, 12258, 12264, 12270, 12273, 12349, 12371, 12372, 12374, 12378, 12389, 12396, 12455, 12484, 12492, 12509, 12516, 12520, 12522, 12553, 12555, 12563, 12589, 12621, 12632, 12634, 12647, 12673, 12674, 12675, 12680, 13066, 13069, 13097, 13103, 13120, 13123, 13136, 13137, 13490, 13758, 13759, 13763, 13807, 13808, 13823, 13851, 13853, 13854, 13859, 13880, 13881, 13886, 13887, 13891, 13926, 13933, 13937, 13966, 13972, 13997, 14000, 14003, 14004, 14015, 14027, 14031, 14038, 14039, 14040, 14041, 14043, 14044, 14059, 14078, 14093, 14107, 14114, 14115, 14121, 14124, 14125, 14135, 14137, 14140, 14142, 14151, 14154, 14159, 14162, 14168, 14171, 14177, 14178, 14180, 14194, 14229, 14268, 14279, 14310, 14326, 14327, 14330, 14331, 14333, 14334, 14345, 14347, 14365, 14366, 14370, 14372, 14392, 14393, 14401, 14422, 14431, 14433, 14440, 14459, 14461, 14464, 14466, 14493, 14641, 14827, 14922, 14970, 14988, 15006, 15014, 15148, 15176, 15186, 15243, 15254, 15256, 15265, 15272, 15300, 15306, 15320, 15323, 15349, 15350, 15361, 15362, 15363, 15384, 15387, 15398, 15400, 15414, 15416, 15424, 15439, 15444, 15448, 15449, 15471, 15475, 15477, 15480, 15522, 15526, 15553, 15554, 15557, 15587, 15601, 15602, 15623, 15626, 15633, 15649, 15678, 15682, 15687, 15689, 15701, 15706, 15711, 15713, 15716, 15724, 15725, 15728, 15733, 15738, 15741, 15743, 15749, 15751, 15754, 15768, 15772, 15789, 15793, 15797, 15804, 15805, 15816, 15818, 15824, 15828, 15831, 15844, 15846, 15848, 15849, 15857, 15859, 15861, 15862, 15864, 15866, 15867, 15868, 15874, 15905, 15928, 15936, 15937, 15938, 15944, 15967, 15969, 15974, 15978, 16017, 16025, 16026, 16055, 16058, 16069,16121, 16198, 16199, 16211, 16214, 16217, 16219, 16236, 16306, 16309, 16310, 16315, 16316, 16318, 16331, 16332, 16335, 16347, 16357, 16369, 16392, 16405, 16486, 16505, 16529, 16536, 16561, 16590, 16582, 16613, 16615, 16616, 16619, 16621, 16629, 16654, 16659, 16777, 16884, 16886, 16887, 16899, 16900, 16919, 17036, 17113, 17116, 17221, 17248, 17442, 17446, 17477, 17573, 17607, 17635, 17766, 17906, 18241, 18303, 18311, 18335, 18369, 18375, 18484, 18564, 19016, 19397, 19801, 19825, 20161, 20163, 20165, 20275, 20286, 20340, 20355, 20364, 20369, 20496, 20655, 20860, 20865, 20879, 20882, 20913, 20914 = 1180

Define Marketing

Define Marketing

In a short sense, Marketing is managing profitable customer relationships.

In a broad sense, Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Lastly we can say that marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. In a narrower business context, marketing involves building profitable, value-laden exchange relationships with customers.

 

 

 Define Marketing mix. What are its elements?

Marketing mix is the combination of the elements of marketing and what roles each element plays in promoting products and services and delivering those products and services to customers.

Elements of the Marketing Mix
The elements of the marketing mix are also referred to as the 4 P's of marketing.
The 4 P's of the Marketing Mix
The original 4 P's of marketing (although they have been renamed a bit over the years) that were the elements of marketing mix is:

Product
The products or services offered to your customer: Their physical attributes, what they do, how they differ from your competitors and what benefits they provide.

Price
How price of product or service so that price remains competitive but allows making a good profit.

Place (Also referred to as Distribution)
Where business sells its products or services and how it gets those products or services to customers.

Promotion
The methods used to communicate the features and benefits of products or services to target customers.

The 5th P of Marketing
Recently some marketing theorists have added a 5th P of marketing to the elements of the marketing mix. It is people. Without people, no firm can think about marketing.

 

 

 Importance of Marketing in Banking Sector/ Financial Organization:

Marketing in banking sector should be considered under the service marketing framework. Bank marketing is not only include service selling of the bank but also gets personality and increasing image/ status for bank on its customers’ mind. For this reason, the traditional marketing is separate from the marketing of financial organization and Banks.

The Importance of Marketing in Banking Sector/ Financial Organization are mentioned below:

Large competition in financial service sector:
The competition became extreme for growing international banking perceptiveness and recently being unlimited new enterprises in this sector. Increase in liberalization of interest rates has intensified the competition.

Change in demographic structure:
Thinking and quality vary men to men. Differentiation of population in the number, quality and attribute, banks has to maintain a close relation and has to cope with the change. For this reasons, the importance of marketing in Banking Sector/ Financial Organization has emerge.

Bank’s wish to increase profit:
Banks increases their profits by creating new markets, to protect and develop their existing market shares. Since the banks wants to make high profit, they must involve with marketing to survive in their sector.

 

 

Advantages of Mobile Banking

 Advantages of Mobile Banking

The biggest advantage that mobile banking offers to banks is that it drastically cuts down the costs of providing service to the customers. For example an average teller or phone transaction costs about $2.36 each, whereas an electronic transaction costs only about $0.10 each. Additionally, this new channel gives the bank ability to cross-sell up-sell their other complex banking products and services such as vehicle loans, credit cards etc.

For service providers, Mobile banking offers the next surest way to achieve growth. Countries like Korea where mobile penetration is nearing saturation, mobile banking is helping service providers increase revenues from the now static subscriber base.

Service providers are increasingly using the complexity of their supported mobile banking services to attract new customers and retain old ones. A very effective way of improving customer service could be to inform customers better. Credit card fraud is one such area. A bank could, through the use of mobile technology, inform owners each time purchases above a certain value have been made on their card. This way the owner is always informed when their card is used, and how much money was taken for each transaction.

Similarly, the bank could remind customers of outstanding loan repayment dates, dates for the payment of monthly installments or simply tell them that a bill has been presented and is up for payment. The customers can then check their balance on the phone and authorize the required amounts for payment.

The customers can also request for additional information. They can automatically view deposits and withdrawals as they occur and also pre- schedule payments to be made or cheques to be issued. Similarly, one could also request for services like stop cheque or issue of a cheque book over one’s mobile phone.

There are number of reasons that should persuade banks in favor of mobile phones.
They are set to become a crucial part of the total banking services experience for the customers. Also, they have the potential to bring down costs for the bank itself.

Through mobile messaging and other such interfaces, banks provide value added services to the customer at marginal costs. Such messages also bear the virtue of being targeted and personal making the services offered more effective. They will also carry better results on account of better customer profiling.

Yet another benefit is the anywhere/anytime characteristics of mobile services. A mobile is almost always with the customer. As such it can be used over a vast geographical area. The customer does not have to visit the bank ATM or a branch to avail of the bank’s services. Research indicates that the number of footfalls at a bank’s branch has fallen down drastically after the installation of ATMs. As such with mobile services, a bank will need to hire even less employees as people will no longer need to visit bank branches apart from certain occasions.

With Indian telecom operators working on offering services like money transaction over a mobile, it may soon be possible for a bank to offer phone based credit systems. This will make credit cards redundant and also aid in checking credit card fraud apart from offering enhanced customer convenience. The use of mobile technologies is thus a win-win proposition for both the banks and the bank’s customers.

The banks add to this personalized communication through the process of automation. For instance, if the customer asks for his account or card balance after conducting a transaction, the installed software can send him an automated reply informing of the same. These automated replies thus save the bank the need to hire additional employees for servicing customer needs.

Define Marketing

Define Marketing

In a short sense, Marketing is managing profitable customer relationships.

In a broad sense, Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Lastly we can say that marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. In a narrower business context, marketing involves building profitable, value-laden exchange relationships with customers.