Star (August 30, 2011)
It's that time of the year again, when television channels spare no effort to attract viewers, and revenue as well.
According to advertisers, television channels charge almost double during the Eid festival to cash in on the demand, and Eid advertising accounts for up to 15 percent of the television channels' yearly revenue income.
“Leading TV channels that usually take Tk 40,000 a minute during peak hour, charge as high as Tk 80,000 for the Eid programmes,” said Mostafa Kamal Aru, media manager of TBWA\Benchmark, an ad firm.
State-owned Bangladesh Television, known as BTV, leads the race comfortably with higher demand.
“BTV has increased the advertisement rate by 20 percent during this year's Eid,” said Khitish Paul, associate director of Mindshare, another ad firm.
Generally, BTV takes Tk 100,000-Tk 150,000 for per minute advertisement during normal time and it goes up as high as Tk 300,000 during Eid.
In Bangladesh, there are around 20 television stations of which only BTV is terrestrial. All these channels are now ready to set off their festive programmes for the Eid viewers. Some channels have extended their Eid programmes up to 10 days.
Exclusive TV programmes bring families together, while fast moving consumer goods (FMCG) companies advertise more to create a long-lasting impact.
“There is no off-peak hour during the Eid festival as every company wants to advertise its products to reach the target groups,” said Ashim Kumar Das, marketing manager of NTV, a private satellite channel.
“The rush to gain consumer attention and influence the buying decision is the main drive in the promotional campaigns,” said Paul of Mindshare that works for Unilever, the biggest FMCG company in the country.
Apart from FMCGs, other big advertisers include telecom companies, food, confectionary, soft drinks, juices and electronics .
According to market players, the size of the advertisement and promotional market is estimated at around Tk 1,200 crore annually. Of which, nearly 40 percent goes to the television channels.
Tuesday, August 30
Central bank move keeps call rate stable
Express (August 30, 2011)
The inter-bank call money rate was stable Monday despite the pressure of withdrawal of cash from banks, ahead of the Eid-ul Fitr festival, treasury officials said.
The call rate ranged between 18.00 per cent and 20.00 per cent on the last working day before the Eid against the previous day's range between 15.00 per cent and 20.00 per cent.
However, most deals were settled at 20.00 per cent, market operators said.
"The call money rate was stable on the day following injection of fresh funds into the market by the central bank," a senior treasury official of a commercial bank told the FE.
He also said the inter-bank borrowings normally increase before the Eid festival to meet the increased demand of the clients of the banks for withdrawal of cash.
In 2010, the call money rate ranged between 4.0 per cent and 7.00 per cent on the last working day before the Eid-ul-Fitr festival, the treasury official added.
Most branches of the banks, especially at Motijheel, Dilkusha and other commercial hubs of the capital, witnessed long queues of people to withdraw money on the day.
The central bank continued to provide liquidity support to the commercial banks to meet higher demand for cash during the holy Ramadan and Eid-ul-Fitr.
As part of the move, the Bangladesh Bank (BB) injected fresh funds worth Tk 78.46 billion at 6.75 per cent Monday through auction of repurchase agreement (repo) and special liquidity support to the primary dealers (PDs).
The central bank earlier selected 15 PDs -- 12 banks and three non-banking financial institutions (NBFIs) -- to deal in government securities in the secondary market.
Besides, the central bank provided Tk 11.20 billion as special repo facility to the banks with the rate of interest ranging between 8.75 per cent and 8.80 per cent.
Last Thursday, the BB injected funds worth Tk 83.43 billion using the same mechanisms, the central bank officials said.
The inter-bank call money rate was stable Monday despite the pressure of withdrawal of cash from banks, ahead of the Eid-ul Fitr festival, treasury officials said.
The call rate ranged between 18.00 per cent and 20.00 per cent on the last working day before the Eid against the previous day's range between 15.00 per cent and 20.00 per cent.
However, most deals were settled at 20.00 per cent, market operators said.
"The call money rate was stable on the day following injection of fresh funds into the market by the central bank," a senior treasury official of a commercial bank told the FE.
He also said the inter-bank borrowings normally increase before the Eid festival to meet the increased demand of the clients of the banks for withdrawal of cash.
In 2010, the call money rate ranged between 4.0 per cent and 7.00 per cent on the last working day before the Eid-ul-Fitr festival, the treasury official added.
Most branches of the banks, especially at Motijheel, Dilkusha and other commercial hubs of the capital, witnessed long queues of people to withdraw money on the day.
The central bank continued to provide liquidity support to the commercial banks to meet higher demand for cash during the holy Ramadan and Eid-ul-Fitr.
As part of the move, the Bangladesh Bank (BB) injected fresh funds worth Tk 78.46 billion at 6.75 per cent Monday through auction of repurchase agreement (repo) and special liquidity support to the primary dealers (PDs).
The central bank earlier selected 15 PDs -- 12 banks and three non-banking financial institutions (NBFIs) -- to deal in government securities in the secondary market.
Besides, the central bank provided Tk 11.20 billion as special repo facility to the banks with the rate of interest ranging between 8.75 per cent and 8.80 per cent.
Last Thursday, the BB injected funds worth Tk 83.43 billion using the same mechanisms, the central bank officials said.
An eight-member Article-4 mission of International Monetary Fund (IMF) will arrive in Dhaka on September 4
Express (August 30, 2011)
An eight-member Article-4 mission of International Monetary Fund (IMF) will arrive in Dhaka on September 4 next on a two-week visit to have an in-depth look at the country's macro-economic fundamentals and the balance of payment (BoP) situation , a high official at the ministry of finance (MoF) has said.
The Extended Credit Facility (ECF) of IMF, under which the government sought $1.0 billion credit, will figure prominently at the discussion to be held between the policy makers and the Fund officials during their stay in the capital, sources said.
Ahead of the visit, the multilateral lending agency has made some queries about the real sectors, public enterprises, monetary and financial issues and the external sector.
After borrowing $490 million from IMF's poverty reduction growth facilities (PRGF) scheme in fiscal 2003-04, the country again sought around $1 billion under ECF arrangement for four years (fiscal 2011-14).
The government agencies concerned are now busy preparing the answers to the IMF's queries, while officials are updating themselves on various macro-economic issues that may come up during the visit of Article-4 mission, a ministry of finance official said.
Under Article-4 of the IMF Articles of agreement, the IMF holds bilateral discussions with member-countries, usually every year. A staff team visits the country, collects economic and financial information, and holds discussion on economic developments and policies with the officials of the country. On return to IMF headquarters, it prepares a report, which forms the basis for discussion by the executive board. At the conclusion of the discussion, the IMF Managing Director, as chairman of the board, summarises the views of the executive directors, and the summary is transmitted to the authorities of the country concerned.
Officials at the MoF said the overall macro-economic situation of the country is good, although the BoP situation has deteriorated. The bank borrowing of the government is increasing alarmingly. According to the latest data, the government borrowed Tk 30 billion during the first one and a half months of the current fiscal year.
"We need support from the IMF to address the BoP crisis," an MoF official said.
"We are hopeful of reaching a consensus with IMF during their upcoming visit on getting $1.0 billion ECF from them," he added.
However, IMF put forward a number of conditions to the government recently to become eligible for the proposed credit, sources said.
The conditions include enactment of new Value Added Tax (VAT) and income tax laws, establishing a monitoring framework for Bangladesh Petroleum Corporation, Bangladesh Chemical Industries Corporation, and Power Division, to set aside funds to cover losses, amendment to the Banking Company Act and phasing out ceiling on bank lending rates.
The IMF team will hold discussion with MoF, Bangladesh Bank, National Board of Revenue and Power Development Board, sources said.
An eight-member Article-4 mission of International Monetary Fund (IMF) will arrive in Dhaka on September 4 next on a two-week visit to have an in-depth look at the country's macro-economic fundamentals and the balance of payment (BoP) situation , a high official at the ministry of finance (MoF) has said.
The Extended Credit Facility (ECF) of IMF, under which the government sought $1.0 billion credit, will figure prominently at the discussion to be held between the policy makers and the Fund officials during their stay in the capital, sources said.
Ahead of the visit, the multilateral lending agency has made some queries about the real sectors, public enterprises, monetary and financial issues and the external sector.
After borrowing $490 million from IMF's poverty reduction growth facilities (PRGF) scheme in fiscal 2003-04, the country again sought around $1 billion under ECF arrangement for four years (fiscal 2011-14).
The government agencies concerned are now busy preparing the answers to the IMF's queries, while officials are updating themselves on various macro-economic issues that may come up during the visit of Article-4 mission, a ministry of finance official said.
Under Article-4 of the IMF Articles of agreement, the IMF holds bilateral discussions with member-countries, usually every year. A staff team visits the country, collects economic and financial information, and holds discussion on economic developments and policies with the officials of the country. On return to IMF headquarters, it prepares a report, which forms the basis for discussion by the executive board. At the conclusion of the discussion, the IMF Managing Director, as chairman of the board, summarises the views of the executive directors, and the summary is transmitted to the authorities of the country concerned.
Officials at the MoF said the overall macro-economic situation of the country is good, although the BoP situation has deteriorated. The bank borrowing of the government is increasing alarmingly. According to the latest data, the government borrowed Tk 30 billion during the first one and a half months of the current fiscal year.
"We need support from the IMF to address the BoP crisis," an MoF official said.
"We are hopeful of reaching a consensus with IMF during their upcoming visit on getting $1.0 billion ECF from them," he added.
However, IMF put forward a number of conditions to the government recently to become eligible for the proposed credit, sources said.
The conditions include enactment of new Value Added Tax (VAT) and income tax laws, establishing a monitoring framework for Bangladesh Petroleum Corporation, Bangladesh Chemical Industries Corporation, and Power Division, to set aside funds to cover losses, amendment to the Banking Company Act and phasing out ceiling on bank lending rates.
The IMF team will hold discussion with MoF, Bangladesh Bank, National Board of Revenue and Power Development Board, sources said.
Monday, August 29
Chartered Financial Analyst programme
Express (August 23, 2011)
The Chartered Financial Analyst (CFA) Institute has recently published the results of the CFA examinations. Twelve candidates from Bangladesh have passed the last (third) level of the examinations and qualified for receiving the CFA Charter. Numerous others have passed the first and second levels of the examinations on their way toward completion of the programme and toward receiving the coveted CFA designation. This is an extraordinary feat and an important achievement, and I will try to explain why.
As the financial services industry gains breadth and depth with the expansion of our economy, we increasingly feel the need for trained professionals. The challenges in this regard are two-fold. First, there is no universal standard to which professionals should be expected to be trained. After all, institutions within the same country differ in their standards and educational philosophies while training professionals. Second, it is a difficult task to train our professionals to attain global standards, especially in a country where education infrastructure is rudimentary at the best, and resources are scarce.
The CFA programme is an excellent solution in both these regards. Primarily aimed at training professionals in the investment management industry, the CFA programme has relevance for every facet of the financial services industry. Some argue that tools taught at the CFA programme are useful in analysing businesses at any role, whether or not it has any relevance to finance.
For those who are not familiar with the CFA programme, excerpts from an article in The Economist may prove helpful (http://www.economist.com/node/11511815). It states "(CFA) is increasingly seen as essential for those trying to get ahead in financial services…Unlike the well-known MBA degree, which usually requires a residential course, CFA students mostly study at home...(a candidate) says he was attracted by both the flexibility and affordability of the course; he receives a grant from his local CFA Institute to help him study…(but) this structure also means candidates need a lot of self-discipline…(another candidate) who is now chief executive of a hedge-fund group, says she studied from 8pm till midnight from three to four days a week with a further five to six hours at weekends…"
In essence, The Chartered Financial Analyst (CFA) designation is an international professional certification offered by the CFA Institute. CFA is a self-study course, deals with a number of study-areas, and is to be taken over a minimum of three years. Candidates pass three rigorous exams (according to The Economist, one of the most arduous tests of their lives) and fulfill relevant experience requirement to receive the CFA charter. Candidates must pass each of three six-hour exams, possess a bachelor's degree from an accredited institution and have 48 months of qualified, professional work experience. Study-areas cover core finance subjects as well as subjects that give a context in investment decision-making (economics, statistics, accounting). Ethics play a significant part not only in the exam syllabus, but throughout the career of a CFA candidate and eventual charter-holder. CFA charter-holders are obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct.
The CFA Institute is a global association of investment professionals that traces its lineage back to the establishment of the Financial Analysts Federation (FAF) in 1947. The economic growth in the USA after World War II led to a rapid and massive growth in individual savings. This further led to an increasing demand for better investment options. The advancement of investment theories in the 1950s and '60s led to further momentum in the industry. This necessitated the formalisation of the investment management profession. Leadership of the FAF established an independent organisation - the Institute of Chartered Financial Analysts (ICFA) - to administer the CFA credentialing programme in 1959; and the ICFA administered the first CFA exams in 1963, when the first charter was awarded. In 1990, the FAF and the ICFA merged to become the Association for Investment Management and Research (AIMR). In 2004, AIMR changed its name to The CFA Institute. The CFA programme began in the United States but has become increasingly international with many people becoming charter-holders across Europe, Asia and Australia. By 2003, fewer than half the candidates in the CFA programme were based in the US and Canada, with most of the other candidates based in Asia or Europe. India and China have shown some of the highest growth from 2005-2006 with increases of 25 per cent and 53 per cent respectively in the total number of charter-holders. As of August 2010, the CFA Institute has more than 101,000 members around the world, including more than 89,000 CFA charter-holders. The roster of CFA charter-holders reads like a who's who in the global financial services industry. Most participants in the programme are employees of the financial services industry.
I now return to the issue of why the CFA programme is relevant for Bangladesh. First, no matter where a candidate resides, they attain the same standard of knowledge. So, a Bangladeshi candidate can achieve the same globally recognised training and credentials as can a student residing in New York, London or Tokyo. Second, the CFA programme is the most affordable among equally prestigious credentials, including an MBA from a top business school. In Bangladesh, few professionals or students can dream of achieving a globally reputed post-graduate education, but the CFA programme is accessible to all. Third, the CFA programme gives an opportunity to non-business students who want to transition into a career in financial services (I come from a background of Electrical Engineering).
Bangladesh has an expanding number of CFA charter-holders (25+) and candidates (over 250). Currently there exists a critical mass of CFA programme participants in Bangladesh and people with this qualification have been advancing to progressively important positions. One of the members of the newly reconstituted SEC is a CFA charter-holder. These professionals have undergone the most rigorous training on the functioning of an efficient capital market, and their views should be consulted in formulating policies, determining the timing and mode of interventions, and deciding on the various essential components of the capital market (including licensing, training, ethics, compliance). One simply needs to view the Facebook and the LinkedIn pages of the Bangladeshi CFA group to understand the knowledge and the refinement of these young professionals, reflected in their posts.
Active institutional participants in the capital markets such as commercial banks, merchant banks, brokerages and asset management companies should encourage their young and talented employees to enroll in the CFA programme and provide them financial support. For them, it would be an important investment in skill-development that is unparalleled in future returns. One last point, while our media regularly transmits "expert" view on the capital market by "analysts", I rarely see a CFA charter-holder consulted at such forums. Our CFA charter-holders are willing, ready and committed to take up their rightful role.
The writer is an investment analyst. A former member of the New York, Stamford and Calgary CFA Societies, he is an active promoter of the CFA group in Bangladesh. He can be reached at email: ahcapcorp@live.com
The Chartered Financial Analyst (CFA) Institute has recently published the results of the CFA examinations. Twelve candidates from Bangladesh have passed the last (third) level of the examinations and qualified for receiving the CFA Charter. Numerous others have passed the first and second levels of the examinations on their way toward completion of the programme and toward receiving the coveted CFA designation. This is an extraordinary feat and an important achievement, and I will try to explain why.
As the financial services industry gains breadth and depth with the expansion of our economy, we increasingly feel the need for trained professionals. The challenges in this regard are two-fold. First, there is no universal standard to which professionals should be expected to be trained. After all, institutions within the same country differ in their standards and educational philosophies while training professionals. Second, it is a difficult task to train our professionals to attain global standards, especially in a country where education infrastructure is rudimentary at the best, and resources are scarce.
The CFA programme is an excellent solution in both these regards. Primarily aimed at training professionals in the investment management industry, the CFA programme has relevance for every facet of the financial services industry. Some argue that tools taught at the CFA programme are useful in analysing businesses at any role, whether or not it has any relevance to finance.
For those who are not familiar with the CFA programme, excerpts from an article in The Economist may prove helpful (http://www.economist.com/node/11511815). It states "(CFA) is increasingly seen as essential for those trying to get ahead in financial services…Unlike the well-known MBA degree, which usually requires a residential course, CFA students mostly study at home...(a candidate) says he was attracted by both the flexibility and affordability of the course; he receives a grant from his local CFA Institute to help him study…(but) this structure also means candidates need a lot of self-discipline…(another candidate) who is now chief executive of a hedge-fund group, says she studied from 8pm till midnight from three to four days a week with a further five to six hours at weekends…"
In essence, The Chartered Financial Analyst (CFA) designation is an international professional certification offered by the CFA Institute. CFA is a self-study course, deals with a number of study-areas, and is to be taken over a minimum of three years. Candidates pass three rigorous exams (according to The Economist, one of the most arduous tests of their lives) and fulfill relevant experience requirement to receive the CFA charter. Candidates must pass each of three six-hour exams, possess a bachelor's degree from an accredited institution and have 48 months of qualified, professional work experience. Study-areas cover core finance subjects as well as subjects that give a context in investment decision-making (economics, statistics, accounting). Ethics play a significant part not only in the exam syllabus, but throughout the career of a CFA candidate and eventual charter-holder. CFA charter-holders are obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct.
The CFA Institute is a global association of investment professionals that traces its lineage back to the establishment of the Financial Analysts Federation (FAF) in 1947. The economic growth in the USA after World War II led to a rapid and massive growth in individual savings. This further led to an increasing demand for better investment options. The advancement of investment theories in the 1950s and '60s led to further momentum in the industry. This necessitated the formalisation of the investment management profession. Leadership of the FAF established an independent organisation - the Institute of Chartered Financial Analysts (ICFA) - to administer the CFA credentialing programme in 1959; and the ICFA administered the first CFA exams in 1963, when the first charter was awarded. In 1990, the FAF and the ICFA merged to become the Association for Investment Management and Research (AIMR). In 2004, AIMR changed its name to The CFA Institute. The CFA programme began in the United States but has become increasingly international with many people becoming charter-holders across Europe, Asia and Australia. By 2003, fewer than half the candidates in the CFA programme were based in the US and Canada, with most of the other candidates based in Asia or Europe. India and China have shown some of the highest growth from 2005-2006 with increases of 25 per cent and 53 per cent respectively in the total number of charter-holders. As of August 2010, the CFA Institute has more than 101,000 members around the world, including more than 89,000 CFA charter-holders. The roster of CFA charter-holders reads like a who's who in the global financial services industry. Most participants in the programme are employees of the financial services industry.
I now return to the issue of why the CFA programme is relevant for Bangladesh. First, no matter where a candidate resides, they attain the same standard of knowledge. So, a Bangladeshi candidate can achieve the same globally recognised training and credentials as can a student residing in New York, London or Tokyo. Second, the CFA programme is the most affordable among equally prestigious credentials, including an MBA from a top business school. In Bangladesh, few professionals or students can dream of achieving a globally reputed post-graduate education, but the CFA programme is accessible to all. Third, the CFA programme gives an opportunity to non-business students who want to transition into a career in financial services (I come from a background of Electrical Engineering).
Bangladesh has an expanding number of CFA charter-holders (25+) and candidates (over 250). Currently there exists a critical mass of CFA programme participants in Bangladesh and people with this qualification have been advancing to progressively important positions. One of the members of the newly reconstituted SEC is a CFA charter-holder. These professionals have undergone the most rigorous training on the functioning of an efficient capital market, and their views should be consulted in formulating policies, determining the timing and mode of interventions, and deciding on the various essential components of the capital market (including licensing, training, ethics, compliance). One simply needs to view the Facebook and the LinkedIn pages of the Bangladeshi CFA group to understand the knowledge and the refinement of these young professionals, reflected in their posts.
Active institutional participants in the capital markets such as commercial banks, merchant banks, brokerages and asset management companies should encourage their young and talented employees to enroll in the CFA programme and provide them financial support. For them, it would be an important investment in skill-development that is unparalleled in future returns. One last point, while our media regularly transmits "expert" view on the capital market by "analysts", I rarely see a CFA charter-holder consulted at such forums. Our CFA charter-holders are willing, ready and committed to take up their rightful role.
The writer is an investment analyst. A former member of the New York, Stamford and Calgary CFA Societies, he is an active promoter of the CFA group in Bangladesh. He can be reached at email: ahcapcorp@live.com
Importance of proper portfolio management in an unstable capital market
Express (August 29, 2011)
Portfolio management is the most scientific concept that is conventionally used to assist, guide, analyse and manage investment in capital market. It helps the investors, by identifying the threats and opportunities, the strengths and weaknesses as well as the risks and rewards of investments. Through its proper uses, the investors decide to buy or sell, or buy or hold investments in shares, stocks, bonds, mutual funds, treasury bonds and on and on, either in domestic or international markets, if doing so in the latter is allowed.
The portfolio managers are generally engaged with portfolio management and they apply all the arts, practices, procedures and techniques for portfolio management. They are entrusted with the important and sensitive tasks of taking timely decisions on investments with the sole motive of maximising the possible returns within a minimum period of time.
Portfolio managers are supported by a team of experts like financial analysts and market researchers who analyse the trends and volatility of the markets. It is an important task of the portfolio management to have a clear idea of the day-to-day and the latest information about capital markets, to collect all relevant data from the stock broker-houses, and also to keep track on reports appearing in various journals and newspapers, besides talking to the managers of different publicly trading companies and monitoring economic growth of different industries.
The portfolio managers make consistent and fruitful decisions about an investment by considering an investment-mix policy -- matching investments to objectives, balancing risks against performance, and making asset allocation for individual or institutional investors. They are responsible for establishing an investment strategy, after taking into consideration the information and data available, selecting appropriate investments and allocating fund for each investment or putting the investment in asset management vehicle.
Generally when the investors decide to buy or sell shares either from the primary market or from the secondary market, they consider the changes in turnover, price/earning (P/E) ratio, earning per share (EPS), net assets value (NAV), capital gains and losses, trends about dividend payment, status and structure of shareholders and paid-up capital. But the investors need to follow the prudent and scientific portfolio management theorem, to consider other theories, practices, rules and formulas on investment in capital markets. There are many tested theorems on portfolio management such as buy-hold rebalancing, constant-mix investments, returns in trending markets, diversification, spread-the-wealth in domestic and international capital markets, follow-up index of stocks, bonds, mutual funds and on and on.
Portfolio management involves risks management; hence, the portfolio managers must be cautious, knowledgeable, prudent, dynamic and well-conversant with the capital market. According to Candy Schwab and Dr Charles B Schwab, ten actions are designed to clear out the deadweight in the portfolios, your office and your mind to clear the way of better returns, These are summarized as: (1) having an investment plan that is realistic and actionable, is crucial to meeting goals, (2) understanding your plan, following and adjusting it when things change in your life, (3) saving and spending rates have the greatest impact on success and choosing only the good positions and avoiding the bad ones, (4) diversification is the second most important factor in reaching goals, (5) selecting asset allocation that is right for you and sticking with it, (6) choosing professionally managed investments can be better way to invest, (7) acting now generally beats waiting, (8) making periodic checkups to keep a portfolio healthy, (9) making progress towards goals is more important than short-term performance and (10) using the right benchmarks to evaluate performance.
There are many time-tested Modern Portfolio Theorems (MPT), dealing with the portfolio management. One of such theorems is about diversifying the investments into different segments of investments such as socks, bonds, mutual funds of different companies and reducing the risks on investments. MPT quantifies the benefits of diversification; this is also commonly known as "don't put all of your eggs in one basket".
Here are five filters a portfolio manager can use to come up with a selection universe of higher quality companies: (1) credit rating report (with minimum B+ scoring), (2) history of profitability, (3) history of regular dividend payments, (4) a reasonable price index and (5) regular reports from stock exchanges (relating to market status, new highs vs. new lows, share index, daily and weekly turnover).
The Bangladesh capital market is still weak and instable. It needs to be further strengthened and stabilized. The investors should follow the portfolio management theorems, factors and formulas, while investing in shares or bonds, irrespective of types and the size of investment. The fluctuations in the capital market are generally based on some specific information about the shares, bonds, securities etc., and the changes happen about the share market indices in both developed and developing countries. The difference is that the information and rumours are found to be true and based on facts in the developed countries but in the developing countries, the information is found to be fabricated and very often not based on facts. Any kind of publicity about the capital market or any sort of comments by responsible ministers affects the capital market. It is advisable for all concerned to refrain themselves from making any comment on the capital market until and unless he/she can add or contribute something special to it. Unwanted and undesirable comments on the capital market are likely to cause a great many problems in the market.
It is very difficult to get correct information about the capital market, especially in a developing country like Bangladesh due to unreliable and incorrect sources of information. The investors, for example, analyse the balance-sheet and income statement of an organization to calculate NAV, EPS, net profit/loss, current ratio, liquidity ratio, leverage ratio and so on. The credit rating companies take the audited balance and income statement as an important piece of document to give their opinions about the credit worthiness of an organisation, in addition to other areas of information. The Security Exchange Commission (SEC) also takes the audited balance sheet and income statement as a very relevant document before according its approval for issuance of shares, bonds and mutual funds.
It is evident that the audited balance-sheet and income statement of an organisation is the most important document used by the portfolio managers, credit rating companies, the regulator (SEC), the stock exchanges, and the brokerage houses to make strategic decisions having a bearing on investments in the capital market.
But unfortunately, we find the audited balance-sheets and income statements, in many cases, are based on fabricated facts and figures. This implies that they are "window-dressed balance-sheets and income statements". Lack of professionalism, transparency and genuineness and absence of up-to-date information are the main constraints to getting correct and true information from a company and to express true and fair view about its state of affairs.
Portfolio management shows the pros and cons, strengths and weaknesses in depth of investments to the investors, the regulator, and financial institutions and to the government so that they can take appropriate actions to correct the situation and help stabilise the capital market. All concerned agencies should follow the portfolio management principles, theories, formulas and analyses while making decisions on buying or selling shares and bonds.
If investments are made on the basis of such exercises having been made properly beforehand, there will obviously be less possibility for losing money in the capital market. This will, in turn, contribute to investors gaining more confidence. More fund will then be injected to the capital market, ultimately stabilizing and strengthening the market itself.
Portfolio management is the most scientific concept that is conventionally used to assist, guide, analyse and manage investment in capital market. It helps the investors, by identifying the threats and opportunities, the strengths and weaknesses as well as the risks and rewards of investments. Through its proper uses, the investors decide to buy or sell, or buy or hold investments in shares, stocks, bonds, mutual funds, treasury bonds and on and on, either in domestic or international markets, if doing so in the latter is allowed.
The portfolio managers are generally engaged with portfolio management and they apply all the arts, practices, procedures and techniques for portfolio management. They are entrusted with the important and sensitive tasks of taking timely decisions on investments with the sole motive of maximising the possible returns within a minimum period of time.
Portfolio managers are supported by a team of experts like financial analysts and market researchers who analyse the trends and volatility of the markets. It is an important task of the portfolio management to have a clear idea of the day-to-day and the latest information about capital markets, to collect all relevant data from the stock broker-houses, and also to keep track on reports appearing in various journals and newspapers, besides talking to the managers of different publicly trading companies and monitoring economic growth of different industries.
The portfolio managers make consistent and fruitful decisions about an investment by considering an investment-mix policy -- matching investments to objectives, balancing risks against performance, and making asset allocation for individual or institutional investors. They are responsible for establishing an investment strategy, after taking into consideration the information and data available, selecting appropriate investments and allocating fund for each investment or putting the investment in asset management vehicle.
Generally when the investors decide to buy or sell shares either from the primary market or from the secondary market, they consider the changes in turnover, price/earning (P/E) ratio, earning per share (EPS), net assets value (NAV), capital gains and losses, trends about dividend payment, status and structure of shareholders and paid-up capital. But the investors need to follow the prudent and scientific portfolio management theorem, to consider other theories, practices, rules and formulas on investment in capital markets. There are many tested theorems on portfolio management such as buy-hold rebalancing, constant-mix investments, returns in trending markets, diversification, spread-the-wealth in domestic and international capital markets, follow-up index of stocks, bonds, mutual funds and on and on.
Portfolio management involves risks management; hence, the portfolio managers must be cautious, knowledgeable, prudent, dynamic and well-conversant with the capital market. According to Candy Schwab and Dr Charles B Schwab, ten actions are designed to clear out the deadweight in the portfolios, your office and your mind to clear the way of better returns, These are summarized as: (1) having an investment plan that is realistic and actionable, is crucial to meeting goals, (2) understanding your plan, following and adjusting it when things change in your life, (3) saving and spending rates have the greatest impact on success and choosing only the good positions and avoiding the bad ones, (4) diversification is the second most important factor in reaching goals, (5) selecting asset allocation that is right for you and sticking with it, (6) choosing professionally managed investments can be better way to invest, (7) acting now generally beats waiting, (8) making periodic checkups to keep a portfolio healthy, (9) making progress towards goals is more important than short-term performance and (10) using the right benchmarks to evaluate performance.
There are many time-tested Modern Portfolio Theorems (MPT), dealing with the portfolio management. One of such theorems is about diversifying the investments into different segments of investments such as socks, bonds, mutual funds of different companies and reducing the risks on investments. MPT quantifies the benefits of diversification; this is also commonly known as "don't put all of your eggs in one basket".
Here are five filters a portfolio manager can use to come up with a selection universe of higher quality companies: (1) credit rating report (with minimum B+ scoring), (2) history of profitability, (3) history of regular dividend payments, (4) a reasonable price index and (5) regular reports from stock exchanges (relating to market status, new highs vs. new lows, share index, daily and weekly turnover).
The Bangladesh capital market is still weak and instable. It needs to be further strengthened and stabilized. The investors should follow the portfolio management theorems, factors and formulas, while investing in shares or bonds, irrespective of types and the size of investment. The fluctuations in the capital market are generally based on some specific information about the shares, bonds, securities etc., and the changes happen about the share market indices in both developed and developing countries. The difference is that the information and rumours are found to be true and based on facts in the developed countries but in the developing countries, the information is found to be fabricated and very often not based on facts. Any kind of publicity about the capital market or any sort of comments by responsible ministers affects the capital market. It is advisable for all concerned to refrain themselves from making any comment on the capital market until and unless he/she can add or contribute something special to it. Unwanted and undesirable comments on the capital market are likely to cause a great many problems in the market.
It is very difficult to get correct information about the capital market, especially in a developing country like Bangladesh due to unreliable and incorrect sources of information. The investors, for example, analyse the balance-sheet and income statement of an organization to calculate NAV, EPS, net profit/loss, current ratio, liquidity ratio, leverage ratio and so on. The credit rating companies take the audited balance and income statement as an important piece of document to give their opinions about the credit worthiness of an organisation, in addition to other areas of information. The Security Exchange Commission (SEC) also takes the audited balance sheet and income statement as a very relevant document before according its approval for issuance of shares, bonds and mutual funds.
It is evident that the audited balance-sheet and income statement of an organisation is the most important document used by the portfolio managers, credit rating companies, the regulator (SEC), the stock exchanges, and the brokerage houses to make strategic decisions having a bearing on investments in the capital market.
But unfortunately, we find the audited balance-sheets and income statements, in many cases, are based on fabricated facts and figures. This implies that they are "window-dressed balance-sheets and income statements". Lack of professionalism, transparency and genuineness and absence of up-to-date information are the main constraints to getting correct and true information from a company and to express true and fair view about its state of affairs.
Portfolio management shows the pros and cons, strengths and weaknesses in depth of investments to the investors, the regulator, and financial institutions and to the government so that they can take appropriate actions to correct the situation and help stabilise the capital market. All concerned agencies should follow the portfolio management principles, theories, formulas and analyses while making decisions on buying or selling shares and bonds.
If investments are made on the basis of such exercises having been made properly beforehand, there will obviously be less possibility for losing money in the capital market. This will, in turn, contribute to investors gaining more confidence. More fund will then be injected to the capital market, ultimately stabilizing and strengthening the market itself.
Number of BO accounts down further
Express (August 29, 2011)
The number of beneficiary owner's (BO) accounts continued to decline as stock market investors closed 3, 53,077 BO accounts in the last two months mainly due to fresh volatility, lack of IPOs and higher renewal fees.
According to data from the Central Depository Bangladesh Limited, the number of active BO accounts dropped to 27, 56,640 as on August 26 from that of 31, 09,717 on June 30.
A stock broker said that due to fresh volatility in the market, lack of initial public offerings (IPOs) and higher renewal fees for maintaining BO accounts are the major causes for declining BO accounts.
The benchmark general index of the DSE rose sharply and fell again during the period as the capital market went through a fresh volatility. The DGEN reached to 6,710 points on July 24 from 6,117 points on June 30, but as of August 25 the index again settled down to 6,212.
Turnover of the premier bourse also posted a record high of the year at the same time of Tk 19.57 billion on July 24 which was Tk 9.54 billion on June 30, but dropped to Tk 5.45 billion on August 25.
Capital market analyst Akter H Sannamat said, "The existing investors perhaps lost interest to pay renewal fees following recent downtrend of the market and most of the BO accounts were closed due to non-payment of renewal fees in recent times as June was the year ending."
Mr Sannamat also said that the fresh volatility in the market and lack of floating fresh IPOs also discouraged new investors in opening new accounts.
Mr Sannamat said that many new investors had bitter experience to the recent market crash and they are not interested to come back as a result they closed their BO accounts.
"Many potential investors who maintained 5-6 BO accounts earlier now maintain one or two accounts, as a result total BO accounts declined substantially," said Mr Sannamat.
He said that usually more than half of the BO accounts are opened to subscribe primary shares and these accounts remain idle for most part of the year.
However, he said "If fresh IPOs hit the market, the number of BO accounts would increase again as many of them will open BO accounts.
In 2009-2010, a total of 11,60,674 BO accounts were opened, posting a 82.83 per cent year-on-year growth, and the number of BO account holders was 14,01,165 at the end of 2008-2009, compared to 10,71,252 on June 30, 2008. The number of BO accounts was 25, 61,839 on June 30, 2010.
Although the growth in opening of BO accounts was high in the first half of last fiscal year, a prolonged bear run in mid December 2010 to June 2011 and lack of IPOs discouraged many potential investors in opening BO accounts, while many investors even closed their accounts.
The number of BO accounts reached around 32, 60,000 in December 2010 as many people rushed to open accounts with different brokerage houses lured by the booming share market.
The investors had continued to open BO accounts heavily till April 2011, despite massive slides in share prices from December to March, with the number of BO accounts reaching around 34, 00,000.
Professor Mahmood Osman Imam, a finance teacher at the Dhaka University and capital market expert said "Mainly who maintained 5-6 BO accounts and applied for IPOs felt discouraged to continue their accounts as IPO floatations remain almost stuck."
"The recent volatility of the stock market, lack of IPOs and higher renewal fees promoted many potential investors to close their BO accounts," he said.
A stock broker said that the investors seemed to lose interest in opening BO accounts when around three to four lakh BO accounts were closed as investors did not renew their accounts.
He said the high renewal cost of Tk 500 for BO accounts also discouraged the primary investors from maintaining the accounts as many investors maintained 5-6 BO accounts.
"The SEC has imposed an additional Tk 200 from Tk 300 in annual maintenance fee on each BO account from July 2010, which was also discourage many potential investors to open new BO accounts while many of them closed their accounts for higher renewal charge," he added.
At present a prospective investor has to pay up to Tk 1,200 to open a BO account.
The number of beneficiary owner's (BO) accounts continued to decline as stock market investors closed 3, 53,077 BO accounts in the last two months mainly due to fresh volatility, lack of IPOs and higher renewal fees.
According to data from the Central Depository Bangladesh Limited, the number of active BO accounts dropped to 27, 56,640 as on August 26 from that of 31, 09,717 on June 30.
A stock broker said that due to fresh volatility in the market, lack of initial public offerings (IPOs) and higher renewal fees for maintaining BO accounts are the major causes for declining BO accounts.
The benchmark general index of the DSE rose sharply and fell again during the period as the capital market went through a fresh volatility. The DGEN reached to 6,710 points on July 24 from 6,117 points on June 30, but as of August 25 the index again settled down to 6,212.
Turnover of the premier bourse also posted a record high of the year at the same time of Tk 19.57 billion on July 24 which was Tk 9.54 billion on June 30, but dropped to Tk 5.45 billion on August 25.
Capital market analyst Akter H Sannamat said, "The existing investors perhaps lost interest to pay renewal fees following recent downtrend of the market and most of the BO accounts were closed due to non-payment of renewal fees in recent times as June was the year ending."
Mr Sannamat also said that the fresh volatility in the market and lack of floating fresh IPOs also discouraged new investors in opening new accounts.
Mr Sannamat said that many new investors had bitter experience to the recent market crash and they are not interested to come back as a result they closed their BO accounts.
"Many potential investors who maintained 5-6 BO accounts earlier now maintain one or two accounts, as a result total BO accounts declined substantially," said Mr Sannamat.
He said that usually more than half of the BO accounts are opened to subscribe primary shares and these accounts remain idle for most part of the year.
However, he said "If fresh IPOs hit the market, the number of BO accounts would increase again as many of them will open BO accounts.
In 2009-2010, a total of 11,60,674 BO accounts were opened, posting a 82.83 per cent year-on-year growth, and the number of BO account holders was 14,01,165 at the end of 2008-2009, compared to 10,71,252 on June 30, 2008. The number of BO accounts was 25, 61,839 on June 30, 2010.
Although the growth in opening of BO accounts was high in the first half of last fiscal year, a prolonged bear run in mid December 2010 to June 2011 and lack of IPOs discouraged many potential investors in opening BO accounts, while many investors even closed their accounts.
The number of BO accounts reached around 32, 60,000 in December 2010 as many people rushed to open accounts with different brokerage houses lured by the booming share market.
The investors had continued to open BO accounts heavily till April 2011, despite massive slides in share prices from December to March, with the number of BO accounts reaching around 34, 00,000.
Professor Mahmood Osman Imam, a finance teacher at the Dhaka University and capital market expert said "Mainly who maintained 5-6 BO accounts and applied for IPOs felt discouraged to continue their accounts as IPO floatations remain almost stuck."
"The recent volatility of the stock market, lack of IPOs and higher renewal fees promoted many potential investors to close their BO accounts," he said.
A stock broker said that the investors seemed to lose interest in opening BO accounts when around three to four lakh BO accounts were closed as investors did not renew their accounts.
He said the high renewal cost of Tk 500 for BO accounts also discouraged the primary investors from maintaining the accounts as many investors maintained 5-6 BO accounts.
"The SEC has imposed an additional Tk 200 from Tk 300 in annual maintenance fee on each BO account from July 2010, which was also discourage many potential investors to open new BO accounts while many of them closed their accounts for higher renewal charge," he added.
At present a prospective investor has to pay up to Tk 1,200 to open a BO account.
The Best Designation For Your Financial Education: CFA, MBA Or Both?
Pedia (January 25, 2011)
Additional education after college has become a prerequisite for career advancement in many investment fields. For those considering a career in investments, the great debate has been whether to obtain a Master of Business Administration (MBA) or The CFA Institute's Chartered Financial Analyst (CFA) designation. Both have their advantages but considering the expense of the former and the difficulty of attaining the latter, choosing between the two makes for a rather difficult decision. To attract students, graduate institutions have begun to teach a large portion of the CFA program within the graduate business curriculum and some have gone as far as to create a "CFA track" within their MBA course of study, allowing students to obtain an MBA and a CFA at the same time. For those considering attaining both a graduate degree and the CFA certification, one of these programs is the most efficient way to get the best of both worlds. (For background reading, check out So, You Want To Earn Your CFA?)
TUTORIAL: Student Loans
MBA Vs. CFABefore the advent of the CFA, many investment companies would pay to send some of their best and brightest to business schools. These students would return with a much better general business skill, but not necessarily the skills needed for high-level, specialized asset-management responsibilities, such as portfolio management. These specialized skills were usually obtained on the job as professionals worked their way up through the ranks. To generalize, the skills obtained in business school were better suited for employees in more general disciplines, such as marketing or general management. The CFA program was devised to provide charter holders with specialized skills, such as investment analysis, portfolio strategy and asset allocation. One way to explain the differences in the programs is to say that the MBA program is a mile wide and a foot deep, while the CFA program is a foot wide and a mile deep. (To learn more about this designation, read What Does "CFA" Mean?)
The advantage of an MBA is that the knowledge obtained in the program is valuable in other industries outside of the investment world. The great disadvantage is cost - both the direct cost of the program and the loss of income that results from a two-year hiatus for those considering going back to school full-time. The advantages of the CFA program are the ability to acquire specific investment related skills at a relatively low cost. However, although the CFA program is based on self study, it is arduous, requiring a commitment of four years and 1,000 study hours (on average) to complete it. Because of the commitments both in time and money, few go on to acquire both the graduate degree and the certification. (For other program requirements see articles Pass Your CFA Exams The First Time and Prepare For Your CFA Exams.)
The CFA TrackFor many willing to make the commitment and meet the other prerequisites necessary to obtain a graduate business degree and the CFA, most will begin the CFA program right after graduation, hoping to use some of the knowledge gained in their finance courses to give them a leg up over other CFA candidates. However, until recently, most graduate business programs did not organize their finance curricula for this purpose, the advantage for graduates was minimal. This is changing, as business schools begin to incorporate CFA course work into their class offerings.
According to the CFA Institute, in April of 2006, the CFA Institute began a partnering program with 41 graduate institutions worldwide to provide some level (at least 70%) of CFA course work as part of the MBA curriculum.The CFA Institute audits the course offerings of these partner institutions to ensure they live up to their promises. To attract students, graduate institutions have begun to teach a large portion of the CFA program within their graduate business curricula. (Do you need an MBA to stay competitive? Find out more by reading Should You Head Back To Business School?)
The curriculum offered by these program partner schools range from specialized finance courses aimed to facilitate the CFA exams, to a specific "CFA track," which includes courses that teach the exam material. The CFA track usually is designed so that students will take Level I of the CFA exam directly after graduation. Boston University's Master of Science in Investment Management program was the first CFA Program Partner in the United States. Although it does not expect it students to take the exam after graduation, its course offerings include equity analysis, portfolio allocation, risk management and performance measurement. This closely mirrors the study guide for the CFA exams. According to BU, the program also provides the background necessary for preparing for the CFA exams. In comparison, the Johnson School at Cornell University seems to be organized with the CFA as one of the end goals of its graduate degree. Johnson School provides CFA Institute study materials, scholarships to waive the registration portion of the CFA exam enrollment fee, and professional development events held in conjunction with CFA Institute member societies.
The Bottom Line
Due to the program partnerships between business schools and the CFA Institute, there is now an efficient means for investment professionals to obtain both a graduate business degree and a CFA. Whereas it used to be adequate to obtain one or the other, this trend and the number of new investment professionals acquiring both graduate degrees and the CFA may ultimately require professionals to obtain both. Where the commitment was once two years of graduate school and four years of self study, now candidates that choose a partnering institution can perform a majority of the CFA commitment within their graduate school course work. Although it will still require an immense amount of commitment and discipline, an increasing number of institutions allow investment professionals to gain both breadth and depth of knowledge for all the investment management disciplines.
TUTORIAL: Student Loans
MBA Vs. CFABefore the advent of the CFA, many investment companies would pay to send some of their best and brightest to business schools. These students would return with a much better general business skill, but not necessarily the skills needed for high-level, specialized asset-management responsibilities, such as portfolio management. These specialized skills were usually obtained on the job as professionals worked their way up through the ranks. To generalize, the skills obtained in business school were better suited for employees in more general disciplines, such as marketing or general management. The CFA program was devised to provide charter holders with specialized skills, such as investment analysis, portfolio strategy and asset allocation. One way to explain the differences in the programs is to say that the MBA program is a mile wide and a foot deep, while the CFA program is a foot wide and a mile deep. (To learn more about this designation, read What Does "CFA" Mean?)
The advantage of an MBA is that the knowledge obtained in the program is valuable in other industries outside of the investment world. The great disadvantage is cost - both the direct cost of the program and the loss of income that results from a two-year hiatus for those considering going back to school full-time. The advantages of the CFA program are the ability to acquire specific investment related skills at a relatively low cost. However, although the CFA program is based on self study, it is arduous, requiring a commitment of four years and 1,000 study hours (on average) to complete it. Because of the commitments both in time and money, few go on to acquire both the graduate degree and the certification. (For other program requirements see articles Pass Your CFA Exams The First Time and Prepare For Your CFA Exams.)
The CFA TrackFor many willing to make the commitment and meet the other prerequisites necessary to obtain a graduate business degree and the CFA, most will begin the CFA program right after graduation, hoping to use some of the knowledge gained in their finance courses to give them a leg up over other CFA candidates. However, until recently, most graduate business programs did not organize their finance curricula for this purpose, the advantage for graduates was minimal. This is changing, as business schools begin to incorporate CFA course work into their class offerings.
According to the CFA Institute, in April of 2006, the CFA Institute began a partnering program with 41 graduate institutions worldwide to provide some level (at least 70%) of CFA course work as part of the MBA curriculum.The CFA Institute audits the course offerings of these partner institutions to ensure they live up to their promises. To attract students, graduate institutions have begun to teach a large portion of the CFA program within their graduate business curricula. (Do you need an MBA to stay competitive? Find out more by reading Should You Head Back To Business School?)
The curriculum offered by these program partner schools range from specialized finance courses aimed to facilitate the CFA exams, to a specific "CFA track," which includes courses that teach the exam material. The CFA track usually is designed so that students will take Level I of the CFA exam directly after graduation. Boston University's Master of Science in Investment Management program was the first CFA Program Partner in the United States. Although it does not expect it students to take the exam after graduation, its course offerings include equity analysis, portfolio allocation, risk management and performance measurement. This closely mirrors the study guide for the CFA exams. According to BU, the program also provides the background necessary for preparing for the CFA exams. In comparison, the Johnson School at Cornell University seems to be organized with the CFA as one of the end goals of its graduate degree. Johnson School provides CFA Institute study materials, scholarships to waive the registration portion of the CFA exam enrollment fee, and professional development events held in conjunction with CFA Institute member societies.
The Bottom Line
Due to the program partnerships between business schools and the CFA Institute, there is now an efficient means for investment professionals to obtain both a graduate business degree and a CFA. Whereas it used to be adequate to obtain one or the other, this trend and the number of new investment professionals acquiring both graduate degrees and the CFA may ultimately require professionals to obtain both. Where the commitment was once two years of graduate school and four years of self study, now candidates that choose a partnering institution can perform a majority of the CFA commitment within their graduate school course work. Although it will still require an immense amount of commitment and discipline, an increasing number of institutions allow investment professionals to gain both breadth and depth of knowledge for all the investment management disciplines.
BGMEA 'opposing CTMS launching at Ctg port'
Express (August 29, 2011)
The country's apex clothing body is allegedly obstructing launching of the much-talked-about container terminal management system (CTMS) at Chittagong port to get 'undue benefits' from the existing system, officials said.
The CTMS is purported to provide the quickest possible service to the port users. It is based on a computerised system, aiming at reducing the premier port's turnaround time significantly and ensuring a hassle-free port operation.
It has already missed four deadlines mainly due to opposition by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the apex clothing body.
Its next and the fifth deadline scheduled for September 11 is likely to fail too as the clothing body wants to sit with its members in Dhaka and Chittagong during the same period.
The nearly 4.0 million-euro CTMS project was earlier scheduled to be launched in December last year; later it was rescheduled for February this year and its third deadline was June last, sources said.
Its August deadline also failed and it was extended up to September 11.
But BGMEA leaders said they would seek one month more to prepare themselves for the new system.
"We require one month more from the next deadline (of September 11) as our members need more counselling," said BGMEA first vice-president Nasir Uddin Chowdhury.
Mr Nasir said: "We have been accustomed to the existing system for long. For this, we need more time."
On the other hand, officials of Chittagong Port Authority (CPA) said they are now fully ready to launch the system.
"We are ready to launch the system right now," CTMS project director Khairul Mustafa told the FE.
Mr Mustafa said exports-laden containers need to be brought to the port yards 24 hours prior to the arrival of ships. "For this reason, we need assistance from the garment makers, especially BGMEA," he added.
Mr Mustafa said the present practice is that export containers arrive at the port yards 24 hours after berthing of ships.
Even in many cases, the ships wait for hours for a single box of export cargo, leading to rise in the vessel's turnaround time.
The initiative to set up CTMS at the country's main seaport was taken in 2005, but the authorities failed to implement the system due to various reasons earlier, the sources said.
This new system will help improve port management to an international standard and the consignees will benefit much from it, port officials said.
The CTMS will reduce human contact sharply in the port, they added.
The port officials said if an equipment operator keeps a container at a place for which it is not meant, then the programme under the CTMS will instantly give a signal.
The country's apex clothing body is allegedly obstructing launching of the much-talked-about container terminal management system (CTMS) at Chittagong port to get 'undue benefits' from the existing system, officials said.
The CTMS is purported to provide the quickest possible service to the port users. It is based on a computerised system, aiming at reducing the premier port's turnaround time significantly and ensuring a hassle-free port operation.
It has already missed four deadlines mainly due to opposition by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the apex clothing body.
Its next and the fifth deadline scheduled for September 11 is likely to fail too as the clothing body wants to sit with its members in Dhaka and Chittagong during the same period.
The nearly 4.0 million-euro CTMS project was earlier scheduled to be launched in December last year; later it was rescheduled for February this year and its third deadline was June last, sources said.
Its August deadline also failed and it was extended up to September 11.
But BGMEA leaders said they would seek one month more to prepare themselves for the new system.
"We require one month more from the next deadline (of September 11) as our members need more counselling," said BGMEA first vice-president Nasir Uddin Chowdhury.
Mr Nasir said: "We have been accustomed to the existing system for long. For this, we need more time."
On the other hand, officials of Chittagong Port Authority (CPA) said they are now fully ready to launch the system.
"We are ready to launch the system right now," CTMS project director Khairul Mustafa told the FE.
Mr Mustafa said exports-laden containers need to be brought to the port yards 24 hours prior to the arrival of ships. "For this reason, we need assistance from the garment makers, especially BGMEA," he added.
Mr Mustafa said the present practice is that export containers arrive at the port yards 24 hours after berthing of ships.
Even in many cases, the ships wait for hours for a single box of export cargo, leading to rise in the vessel's turnaround time.
The initiative to set up CTMS at the country's main seaport was taken in 2005, but the authorities failed to implement the system due to various reasons earlier, the sources said.
This new system will help improve port management to an international standard and the consignees will benefit much from it, port officials said.
The CTMS will reduce human contact sharply in the port, they added.
The port officials said if an equipment operator keeps a container at a place for which it is not meant, then the programme under the CTMS will instantly give a signal.
Life Ins cos eager to invest large sum in PPP projects
Express (August 29, 2011)
Life insurers have sought the government's policy support to their plan to invest Tk 100 billion fund in state-initiated infrastructure projects under the Public Private Partnership (PPP) concept.
The country's 17 private life insurance companies have accumulated the fund over past decades, but most part of the same have been invested in fixed deposit receipts (FDRs) in the banking system.
But shrinking returns from the banks and a double-digit inflation in recent years have prompted the insurers to look for more lucrative and solid areas of investment such as infrastructure projects.
"We have urged the finance minister to take steps so that we can invest the Life Fund in PPP projects. It will benefit both the firms and the government," said Bangladesh Insurance Association (BIA) president Sheikh Kabir Hossain.
Hossain told the FE the size of the Life Fund built up by the private insurers crossed Tk 100 billion in 2010 and is set to double in the next five years thanks to an average 20 per cent annual growth in the life insurance industry.
"The fund is growing every year. It can be a big source of capital for large-scale development projects. The government can cut borrowing from global lenders if they decide to judiciously use our fund," he said.
In India and most of the developed nations where interest payments from banks is very low, insurers invest Life Fund extensively in large bridge, road and hydroelectricity projects and power plants to secure better returns.
Mr Hossain said the secretary of the Bank and Financial Institutions Division assured the insurers of taking necessary steps. The division is seeking Securities and Exchange Commission (SEC)'s opinion in this regard.
The country's 43 private non-life and 17 life insurance companies earned Tk 14 billion and Tk60 billion as premium last year. The BIA said the insurers have invested over Tk100 billion in the country's economy.
Sources said several life insurers have diverted some of their funds from banks to stock market in 2009 and 2010 when the equities were enjoying a record breaking bull runs.
It is not clear whether the share market crash in December-January has gutted any of these companies. But it has created panic and forced several insurers to flee the market at the last moment, they said.
Life Fund is a liability of an insurance company, which sets aside the money from annual premium income for payments of future claims. Any drain in the fund can wreck havoc in an insurer's ability to honour claims.
In a memo submitted to the ministry of finance (MoF), the BIA has urged the minister to instruct the banks to open accounts of their small clients so that they can pay premiums through the banking channels.
The BIA has also asked the government to take measures for introduction of crop insurance in line with the national budget for fiscal year 2011-12. They also demanded introduction of health insurance for poor people.
Its officials also called for abolishing mandatory provision for deducting tax at source from the income of insurance agents as their income is very small and below the ceiling of minimum income tax threshold.
Life insurers have sought the government's policy support to their plan to invest Tk 100 billion fund in state-initiated infrastructure projects under the Public Private Partnership (PPP) concept.
The country's 17 private life insurance companies have accumulated the fund over past decades, but most part of the same have been invested in fixed deposit receipts (FDRs) in the banking system.
But shrinking returns from the banks and a double-digit inflation in recent years have prompted the insurers to look for more lucrative and solid areas of investment such as infrastructure projects.
"We have urged the finance minister to take steps so that we can invest the Life Fund in PPP projects. It will benefit both the firms and the government," said Bangladesh Insurance Association (BIA) president Sheikh Kabir Hossain.
Hossain told the FE the size of the Life Fund built up by the private insurers crossed Tk 100 billion in 2010 and is set to double in the next five years thanks to an average 20 per cent annual growth in the life insurance industry.
"The fund is growing every year. It can be a big source of capital for large-scale development projects. The government can cut borrowing from global lenders if they decide to judiciously use our fund," he said.
In India and most of the developed nations where interest payments from banks is very low, insurers invest Life Fund extensively in large bridge, road and hydroelectricity projects and power plants to secure better returns.
Mr Hossain said the secretary of the Bank and Financial Institutions Division assured the insurers of taking necessary steps. The division is seeking Securities and Exchange Commission (SEC)'s opinion in this regard.
The country's 43 private non-life and 17 life insurance companies earned Tk 14 billion and Tk60 billion as premium last year. The BIA said the insurers have invested over Tk100 billion in the country's economy.
Sources said several life insurers have diverted some of their funds from banks to stock market in 2009 and 2010 when the equities were enjoying a record breaking bull runs.
It is not clear whether the share market crash in December-January has gutted any of these companies. But it has created panic and forced several insurers to flee the market at the last moment, they said.
Life Fund is a liability of an insurance company, which sets aside the money from annual premium income for payments of future claims. Any drain in the fund can wreck havoc in an insurer's ability to honour claims.
In a memo submitted to the ministry of finance (MoF), the BIA has urged the minister to instruct the banks to open accounts of their small clients so that they can pay premiums through the banking channels.
The BIA has also asked the government to take measures for introduction of crop insurance in line with the national budget for fiscal year 2011-12. They also demanded introduction of health insurance for poor people.
Its officials also called for abolishing mandatory provision for deducting tax at source from the income of insurance agents as their income is very small and below the ceiling of minimum income tax threshold.
Sunday, August 28
25 banks face credit risk
Star (August 28, 2011)
Twenty-five of 48 banks operating in Bangladesh may slip into trouble in maintaining adequate capital if top three borrowers were defaulted, according to a recent stress test carried out by the central bank.
The test result has worried the regulator, Bangladesh Bank, as the capital adequacy ratio (CAR) of these 25 banks would fall by at least 2 percentage points from required 9 percent of their capital if these three borrowers get defaulted.
And if top 10 borrowers were defaulted, the CAR would come down by almost half to 4.83 percent of the entire banking industry.
In this backdrop, the BB recommends that the banks diversify their 'too much' concentration of loan portfolio to many small borrowers. But bankers found it difficult, as Bangladesh is an oligopolistic economy (dominated by a small number of participants).
“Banks always try to diversify their loan portfolio. But all the industries except garment and textile are concentrated among few businessmen…it's an oligopoly,” said a senior official working in a foreign commercial bank.
The stress test found the foreign banks' concentration of their loans to top 10 large borrowers more than the local banks. If seven top borrowers become defaulted, the foreign banks' CAR would go down to almost half to 8.96 percent from present 16.38 percent.
The idea of stress test is new in Bangladesh. The BB started carrying out stress tests of banks late last year to determine whether they are able to withstand various shocks. The recent global financial crisis has brought the issue of stress test of financial institutions, particularly banks, in the limelight.
The BB carried out the stress test on the data given by the banks as of end-March 2011.
The banks engage in credit risk and when such risk is concentrated in a single borrower or a group of related borrowers, the risk of default loans by such large borrowers weakens the capability of the banks.
However, bankers denied the BB allegation that they are not trying to diversify their loan portfolio.
“Many credit facilities to large borrowers are syndicated or otherwise shared by two or more banks, to reduce risks for a single lender,” said a chief executive officer of a private commercial bank.
He referred the trend of syndication, which is on the rise due to increasing participation by the private banks.
The banker said they are following the regulations of the BB in terms of single lending cap, which is 15 percent for funded and 35 percent for non-funded credit facilities. Term loan is a funded credit to be paid in instalments for a fixed period and non-funded is a loan given against letter of credit or letter of guarantor.
Twenty-five of 48 banks operating in Bangladesh may slip into trouble in maintaining adequate capital if top three borrowers were defaulted, according to a recent stress test carried out by the central bank.
The test result has worried the regulator, Bangladesh Bank, as the capital adequacy ratio (CAR) of these 25 banks would fall by at least 2 percentage points from required 9 percent of their capital if these three borrowers get defaulted.
And if top 10 borrowers were defaulted, the CAR would come down by almost half to 4.83 percent of the entire banking industry.
In this backdrop, the BB recommends that the banks diversify their 'too much' concentration of loan portfolio to many small borrowers. But bankers found it difficult, as Bangladesh is an oligopolistic economy (dominated by a small number of participants).
“Banks always try to diversify their loan portfolio. But all the industries except garment and textile are concentrated among few businessmen…it's an oligopoly,” said a senior official working in a foreign commercial bank.
The stress test found the foreign banks' concentration of their loans to top 10 large borrowers more than the local banks. If seven top borrowers become defaulted, the foreign banks' CAR would go down to almost half to 8.96 percent from present 16.38 percent.
The idea of stress test is new in Bangladesh. The BB started carrying out stress tests of banks late last year to determine whether they are able to withstand various shocks. The recent global financial crisis has brought the issue of stress test of financial institutions, particularly banks, in the limelight.
The BB carried out the stress test on the data given by the banks as of end-March 2011.
The banks engage in credit risk and when such risk is concentrated in a single borrower or a group of related borrowers, the risk of default loans by such large borrowers weakens the capability of the banks.
However, bankers denied the BB allegation that they are not trying to diversify their loan portfolio.
“Many credit facilities to large borrowers are syndicated or otherwise shared by two or more banks, to reduce risks for a single lender,” said a chief executive officer of a private commercial bank.
He referred the trend of syndication, which is on the rise due to increasing participation by the private banks.
The banker said they are following the regulations of the BB in terms of single lending cap, which is 15 percent for funded and 35 percent for non-funded credit facilities. Term loan is a funded credit to be paid in instalments for a fixed period and non-funded is a loan given against letter of credit or letter of guarantor.
MoI green signal for divestment of Pragati shares
Express (August 28, 2011)
Ministry of Industries (MoI) has given its consent for divestment of 30 per cent shares of Pragati Industries Ltd in the stock market as part of government's directive to offload about two dozen state-owned enterprises.
"We are actively considering the issue of offloading shares in the capital market as Pragati is making continuous profit," Industries Minister Dilip Barua told the FE Thursday.
As part of it, MoI has decided to offload 30 per cent of its profit making entity Pragati Industries Ltd, he said adding the price of each share will be fixed in compliance with the rules and regulations of Securities and Exchange Commission.
Additional Secretary of MoI ABM Khorshed Alam said the deadline for offloading Pragati's share was extended to August 31.
"A total of 38 annual general meetings of Pragati could not be held and we held the meetings within one month after getting permission from the High Court," he said explaining the delay of divestment decision.
A memorandum of understanding (MoU) will be signed on September 29 between MoI and Investment Corporation of Bangladesh (ICB) in this regard, he said adding ICB will decide when the share would be offloaded and the price value of share.
Earlier last year, MoF asked six ministries that control at least 26 SoEs to offload their shares in the stock market, latest by December 2010, to help make the capital market vibrant.
The MoF also asked the MoI to offload 49 per cent shares of each of the four SoEs, namely, Pragati Industries Ltd (PIL), Chittagong Dry Dock Ltd (CDDL), GEM Company Ltd and Bangladesh Blade Factory Ltd latest by December, 2010.
PIL and CDDL have been making profit of Tk 200 million and Tk 640 million during the 2007- 08 to 2009-10 fiscal year, according to the data of Bangladesh Steel and Engineering Corporation.
MoF on February 2011 extended the deadline for divestment of shares, up to 49 per cent of the equity capital, of about two dozen state-owned enterprises (SoEs) in the stock market. The period for off-loading of shares of SoEs in the revised list will continue until December this year.
Three SoEs were, however, dropped Bangladesh Blade Factory Ltd, GEM Company Ltd. and Bangabandhu Bridge from the list that was prepared a long time back, for the purpose of divestment - off-loading of shares.
Before that, the MoI in May last year declined to offload the shares of its profit making SoEs under its control in the stock market fearing labour trouble.
Ministry of Industries (MoI) has given its consent for divestment of 30 per cent shares of Pragati Industries Ltd in the stock market as part of government's directive to offload about two dozen state-owned enterprises.
"We are actively considering the issue of offloading shares in the capital market as Pragati is making continuous profit," Industries Minister Dilip Barua told the FE Thursday.
As part of it, MoI has decided to offload 30 per cent of its profit making entity Pragati Industries Ltd, he said adding the price of each share will be fixed in compliance with the rules and regulations of Securities and Exchange Commission.
Additional Secretary of MoI ABM Khorshed Alam said the deadline for offloading Pragati's share was extended to August 31.
"A total of 38 annual general meetings of Pragati could not be held and we held the meetings within one month after getting permission from the High Court," he said explaining the delay of divestment decision.
A memorandum of understanding (MoU) will be signed on September 29 between MoI and Investment Corporation of Bangladesh (ICB) in this regard, he said adding ICB will decide when the share would be offloaded and the price value of share.
Earlier last year, MoF asked six ministries that control at least 26 SoEs to offload their shares in the stock market, latest by December 2010, to help make the capital market vibrant.
The MoF also asked the MoI to offload 49 per cent shares of each of the four SoEs, namely, Pragati Industries Ltd (PIL), Chittagong Dry Dock Ltd (CDDL), GEM Company Ltd and Bangladesh Blade Factory Ltd latest by December, 2010.
PIL and CDDL have been making profit of Tk 200 million and Tk 640 million during the 2007- 08 to 2009-10 fiscal year, according to the data of Bangladesh Steel and Engineering Corporation.
MoF on February 2011 extended the deadline for divestment of shares, up to 49 per cent of the equity capital, of about two dozen state-owned enterprises (SoEs) in the stock market. The period for off-loading of shares of SoEs in the revised list will continue until December this year.
Three SoEs were, however, dropped Bangladesh Blade Factory Ltd, GEM Company Ltd. and Bangabandhu Bridge from the list that was prepared a long time back, for the purpose of divestment - off-loading of shares.
Before that, the MoI in May last year declined to offload the shares of its profit making SoEs under its control in the stock market fearing labour trouble.
Textile deal signing unlikely during Manmohan's visit
Express (August 28, 2011)
Dhaka may skip inking a textile and jute deal with New Delhi during the Indian premier's visit to Bangladesh after local industry sharply reacted to key clauses of the agreement, officials said Saturday.
India shared a draft of the five-year memorandum of understanding with Bangladesh on August 14, seeking to strike the deal during Manmohan Singh's two-day trip to Dhaka on September 6-7.
But key clauses in the accord such as allowing SAARC Cumulation and yarn import through landports port drew ire from the local textile millers, senior jute and textile ministry officials said.
"They strongly opposed SAARC cumulation and unrestricted import through Benapole land-port. They said local textile mills risk losing their business if Dhaka agreed to the two clauses," said a top official.
He said the ministry of foreign affairs also objected to SAARC Cumulation during an inter-ministerial meeting on the proposed MoU at the secretariat last week.
The SAARC (South Asian Association for Regional Cooperation) Cumulation was a bitter bone of contention between the garment manufacturers and textile entrepreneurs during the better part of last decade.
Under an earlier proposal the European Union (EU) offer Bangladeshi garment makers would have enjoyed duty-free access to the 27-nation bloc by sourcing raw materials such as yarn and fabrics from India and six other South Asian nations under the SAARC cumulation arrangement.
But textile millers vehemently protested the proposal as it would have ended the protection they had long enjoyed in the local market. Their opposition forced the government to stand against the EU move.
Meanwhile, the EU has enforced its new Rules of Origin formula from January 1 this year for all LDCs, relaxing conditions for domestic value addition.
In the bilateral MoU, it was proposed that Bangladesh agree to Indian request for extending the benefit of certification of GSP (Generalised System of Preferences) on the fabrics and other inputs imported from India towards GSP benefits from EU under the SAARC cumulation.
"Unless the two provisions are amended or dropped there is no way we can sign the MoU with India. I don't think the MoU is possible during the Indian prime minister's visit to Bangladesh," the textile ministry official said.
"We also don't have enough time to fix these issues ahead of the Indian PM's visit," he added.
Another official said Bangladesh would like to add some of its own pressing issues in the deal, making it a win-win for both Dhaka and New Delhi.
He said Bangladesh, the world's second largest cotton importer, wants a guarantee from India that it would supply the garment raw material to its neighbour without any strings attached.
Bangladeshi spinners have been hit hard by volatile cotton prices in the international market and the country now seeks bilateral deals with major cotton producers to hedge against jumpy prices.
The official said India was "non-committal" on guaranteed cotton export to Bangladesh even though Dhaka was willing to buy the commodity at the market rates.
"We are ready to reciprocate the benefit by guaranteeing to export a major chunk of our raw jute to India. But during an Indo-Bangla joint secretary meeting last month, the Indian officials made no commitment on the issue," he said.
Under the MoU, Dhaka would seek removal of some non-tariff barriers that New Delhi has imposed on Bangladeshi saris and some jute goods, he said.
"Our saris such as Jamdani, Tangail and Benarosi have gained a foothold in India. But India has imposed non-tariff barriers including testing the saris at a lab in Benaras," he said.
"The lab takes 15 days to complete test and then send the results by post, killing more time in the process, although it can be easily sent through e-mail. This time wasting tactics affect our exports," he added.
Officials said Dhaka was largely agreeable to other clauses of the MoU including collaboration between National Institute of Fashion Technology of India and BGMEA Institute of Fashion Technology of Bangladesh.
The two would collaborate on fashion forecasting, curriculum design, joint research projects and student exchange programmes.
Under the deal, both nations will assist each other in research and development (R&D), technical collaboration in product development and manufacturing, testing and certification in accordance with established international requirements in the fields of textiles and clothing, silk, handlooms and fashion technology.
Academic collaboration will be forged between Sardar Vallabhai Patel International School of Textiles and Management with the Bangladesh Institute of Textiles and Management.
India will also collaborate with the Bangladesh National Institute of Textiles Research and Design.
Dhaka may skip inking a textile and jute deal with New Delhi during the Indian premier's visit to Bangladesh after local industry sharply reacted to key clauses of the agreement, officials said Saturday.
India shared a draft of the five-year memorandum of understanding with Bangladesh on August 14, seeking to strike the deal during Manmohan Singh's two-day trip to Dhaka on September 6-7.
But key clauses in the accord such as allowing SAARC Cumulation and yarn import through landports port drew ire from the local textile millers, senior jute and textile ministry officials said.
"They strongly opposed SAARC cumulation and unrestricted import through Benapole land-port. They said local textile mills risk losing their business if Dhaka agreed to the two clauses," said a top official.
He said the ministry of foreign affairs also objected to SAARC Cumulation during an inter-ministerial meeting on the proposed MoU at the secretariat last week.
The SAARC (South Asian Association for Regional Cooperation) Cumulation was a bitter bone of contention between the garment manufacturers and textile entrepreneurs during the better part of last decade.
Under an earlier proposal the European Union (EU) offer Bangladeshi garment makers would have enjoyed duty-free access to the 27-nation bloc by sourcing raw materials such as yarn and fabrics from India and six other South Asian nations under the SAARC cumulation arrangement.
But textile millers vehemently protested the proposal as it would have ended the protection they had long enjoyed in the local market. Their opposition forced the government to stand against the EU move.
Meanwhile, the EU has enforced its new Rules of Origin formula from January 1 this year for all LDCs, relaxing conditions for domestic value addition.
In the bilateral MoU, it was proposed that Bangladesh agree to Indian request for extending the benefit of certification of GSP (Generalised System of Preferences) on the fabrics and other inputs imported from India towards GSP benefits from EU under the SAARC cumulation.
"Unless the two provisions are amended or dropped there is no way we can sign the MoU with India. I don't think the MoU is possible during the Indian prime minister's visit to Bangladesh," the textile ministry official said.
"We also don't have enough time to fix these issues ahead of the Indian PM's visit," he added.
Another official said Bangladesh would like to add some of its own pressing issues in the deal, making it a win-win for both Dhaka and New Delhi.
He said Bangladesh, the world's second largest cotton importer, wants a guarantee from India that it would supply the garment raw material to its neighbour without any strings attached.
Bangladeshi spinners have been hit hard by volatile cotton prices in the international market and the country now seeks bilateral deals with major cotton producers to hedge against jumpy prices.
The official said India was "non-committal" on guaranteed cotton export to Bangladesh even though Dhaka was willing to buy the commodity at the market rates.
"We are ready to reciprocate the benefit by guaranteeing to export a major chunk of our raw jute to India. But during an Indo-Bangla joint secretary meeting last month, the Indian officials made no commitment on the issue," he said.
Under the MoU, Dhaka would seek removal of some non-tariff barriers that New Delhi has imposed on Bangladeshi saris and some jute goods, he said.
"Our saris such as Jamdani, Tangail and Benarosi have gained a foothold in India. But India has imposed non-tariff barriers including testing the saris at a lab in Benaras," he said.
"The lab takes 15 days to complete test and then send the results by post, killing more time in the process, although it can be easily sent through e-mail. This time wasting tactics affect our exports," he added.
Officials said Dhaka was largely agreeable to other clauses of the MoU including collaboration between National Institute of Fashion Technology of India and BGMEA Institute of Fashion Technology of Bangladesh.
The two would collaborate on fashion forecasting, curriculum design, joint research projects and student exchange programmes.
Under the deal, both nations will assist each other in research and development (R&D), technical collaboration in product development and manufacturing, testing and certification in accordance with established international requirements in the fields of textiles and clothing, silk, handlooms and fashion technology.
Academic collaboration will be forged between Sardar Vallabhai Patel International School of Textiles and Management with the Bangladesh Institute of Textiles and Management.
India will also collaborate with the Bangladesh National Institute of Textiles Research and Design.
Saturday, August 27
IDRA report finds scope for new life insurance cos
Express (August 27, 2011)
Bangladesh needs to set up new life insurance companies, considering its large population size, the insurance regulator said in a report.
The Insurance Development and Regulatory Authority (IDRA) prepared the report at the instruction of the finance ministry.
Earlier in June, the ministry of finance (MoF) asked the IDRA to prepare a detailed study on the country's life and non-life insurance companies to issue new licences.
The insurance regulator in its report suggested for a merger of a number of weak general insurance companies as they have been struggling to survive for long.
IDRA sources said it has over 400 applications, seeking licences for floating new insurance companies, with three to four applications being submitted every day.
They also said the applicants include many from the ruling party leaders and their relatives.
However, the IDRA is planning to submit its report to the MoF within the first week of September.
M Shefaque Ahmed, the country's lone full-fledged actuary and chairman of IDRA, was the head of the committee that prepared the report. Four other members of IDRA assisted him to do that.
When contacted, the IDRA chairman declined to comment on the issue but said: "We will give you (journalists) copies of the report after formally submitting it to the government."
The mad rush for licences started after the finance minister announced in late June that new banking and insurance companies would be allowed in the market.
The Awami League-led government in its previous regime (1996-2001) also issued more than a dozen of licences to new insurers, with three given on the last day of its earlier tenure.
Sheikh Kabir Hossain, chairman of Bangladesh Insurance Association (BIA), recently told the FE that the government might issue licences to four or five life insurance companies.
He also said there is no need for giving any fresh licence to any new non-life insurance companies.
Mr Kabir said there is immense potential of life insurers in the rural areas.
"The life insurance companies might bring new products including health insurance which is very popular in other developing nations," he added.
There are 62 insurance companies operating in the country. Of them, 43 are general insurers and 17 life insurers. The remaining two -- one life and another non-life -- are owned by the government.
The total premiums earned by life insurers were nearly Tk 50 billion in 2009, up by 28 per cent from 2008.
Non-life insurance companies' premiums grew by 13.71 per cent to Tk 13.90 billion in 2009.
The government passed two insurance laws in March last year to help strengthen the regulatory framework and make the industry operationally vibrant.
Bangladesh needs to set up new life insurance companies, considering its large population size, the insurance regulator said in a report.
The Insurance Development and Regulatory Authority (IDRA) prepared the report at the instruction of the finance ministry.
Earlier in June, the ministry of finance (MoF) asked the IDRA to prepare a detailed study on the country's life and non-life insurance companies to issue new licences.
The insurance regulator in its report suggested for a merger of a number of weak general insurance companies as they have been struggling to survive for long.
IDRA sources said it has over 400 applications, seeking licences for floating new insurance companies, with three to four applications being submitted every day.
They also said the applicants include many from the ruling party leaders and their relatives.
However, the IDRA is planning to submit its report to the MoF within the first week of September.
M Shefaque Ahmed, the country's lone full-fledged actuary and chairman of IDRA, was the head of the committee that prepared the report. Four other members of IDRA assisted him to do that.
When contacted, the IDRA chairman declined to comment on the issue but said: "We will give you (journalists) copies of the report after formally submitting it to the government."
The mad rush for licences started after the finance minister announced in late June that new banking and insurance companies would be allowed in the market.
The Awami League-led government in its previous regime (1996-2001) also issued more than a dozen of licences to new insurers, with three given on the last day of its earlier tenure.
Sheikh Kabir Hossain, chairman of Bangladesh Insurance Association (BIA), recently told the FE that the government might issue licences to four or five life insurance companies.
He also said there is no need for giving any fresh licence to any new non-life insurance companies.
Mr Kabir said there is immense potential of life insurers in the rural areas.
"The life insurance companies might bring new products including health insurance which is very popular in other developing nations," he added.
There are 62 insurance companies operating in the country. Of them, 43 are general insurers and 17 life insurers. The remaining two -- one life and another non-life -- are owned by the government.
The total premiums earned by life insurers were nearly Tk 50 billion in 2009, up by 28 per cent from 2008.
Non-life insurance companies' premiums grew by 13.71 per cent to Tk 13.90 billion in 2009.
The government passed two insurance laws in March last year to help strengthen the regulatory framework and make the industry operationally vibrant.
৮৫ ভাগ ওষুধ উৎপাদনকারী প্রতিষ্ঠান নিয়ম মানছে না
Alo (August 26, 2011)
দেশের ওষুধ উৎপাদনকারী ১৫১টি প্রতিষ্ঠানের মধ্যে মাত্র ২২টি মানসম্মত ওষুধ উৎপাদন ও বিপণন করছে। বাকিগুলো ঔষধ প্রশাসন অধিদপ্তরের অনুমোদন পেলেও খেয়ালখুশিমতো চলছে। স্বাস্থ্য ও পরিবারকল্যাণ মন্ত্রণালয়-সম্পর্কিত সংসদীয় স্থায়ী কমিটি সম্প্রতি এ ধরনের ৬২টি প্রতিষ্ঠান একেবারে বন্ধ করে দেওয়ার সুপারিশ করেছে।
স্বাস্থ্য মন্ত্রণালয়ের কাছে দেওয়া সংসদীয় কমিটির প্রতিবেদনে বলা হয়েছে, নকল, ভেজাল ও নিম্নমানের ওষুধ যেকোনো সময় দেশে ভয়াবহ স্বাস্থ্য-বিপর্যয় ডেকে আনতে পারে। কিন্তু দুর্বল নজরদারির কারণে নিম্নমানের ওষুধ উৎপাদন ও বিপণন বন্ধ করা যাচ্ছে না। ঔষধ প্রশাসন অধিদপ্তর উৎপাদন স্থগিত রেখেছে—এমন কিছু প্রতিষ্ঠানও ওষুধ উৎপাদন ও বিপণন করছে।
স্বাস্থ্য মন্ত্রণালয়-সম্পর্কিত স্থায়ী কমিটির প্রধান শেখ ফজলুল করিম সেলিম বলেন, খেয়ালখুশিমতো চলছে এমন ৬২টি প্রতিষ্ঠান একেবারে বন্ধ করে দেওয়ার সুপারিশ করেছে কমিটি। এর বাইরে কিছু শর্ত মানছে না, এমন ৪১টি প্রতিষ্ঠানকে সংশোধিত হওয়ার শর্ত দেওয়া হয়েছে। বাকি ২৬টি ওষুধ প্রস্তুতকারী প্রতিষ্ঠান বিশ্ব স্বাস্থ্য সংস্থার জিএমপি নীতিমালার কিছু কিছু মেনে চলছে।
বন্ধ করে দেওয়া উচিত এমন প্রতিষ্ঠানের তালিকা কেন প্রকাশ করা হচ্ছে না, এ প্রশ্নের জবাবে শেখ সেলিম বলেন, এতে মানুষের মধ্যে আতঙ্কের সৃষ্টি হতে পারে। আন্তর্জাতিক বাজারে বাংলাদেশের সুনাম ক্ষুণ্ন হতে পারে।
২০০৯ সালের গোড়ার দিকে ব্রাহ্মণবাড়িয়ার রিড ফার্মাসিউটিক্যালসের প্যারাসিটামল ওষুধ খেয়ে ২৪ শিশু কিডনি বিকল হয়ে মারা যায়। ওই ঘটনার পর স্বাস্থ্য মন্ত্রণালয়-সম্পর্কিত সংসদীয় স্থায়ী কমিটি দেশের ওষুধ শিল্পপ্রতিষ্ঠানগুলোর মান নির্ণয়ে ঢাকা বিশ্ববিদ্যালয়ের ফার্মেসি অনুষদের ডিন আ ব ম ফারুকের নেতৃত্বে একটি বিশেষজ্ঞ কমিটি গঠন করে। প্রায় দেড় বছর ধরে বাংলাদেশের সব কটি প্রতিষ্ঠান ঘুরে কমিটি প্রতিবেদন পেশ করেছে।
কমিটির প্রধান আ ব ম ফারুক প্রথম আলোকে বলেন, ১৯৮২ ও ২০০৫ সালের ওষুধনীতিতে বিশ্ব স্বাস্থ্য সংস্থার ‘গুড ম্যানুফ্যাকচারিং প্র্যাকটিস’ (উত্তম উৎপাদন কৌশল—জিএমপি) অনুসরণের নির্দেশনা ছিল। কিন্তু অনেক প্রতিষ্ঠানই নিয়মকানুন মানছে না। এই প্রতিষ্ঠানগুলো যেসব ওষুধ উৎপাদন করছে, সেগুলো জনস্বাস্থ্যের জন্য মারাত্মক হুমকি। হয়তো অনেকে এসব ওষুধের কারণে মারাও যাচ্ছে। খতিয়ে দেখা হচ্ছে না।
সুপারিশ বাস্তবায়নের অগ্রগতি সম্পর্কে স্বাস্থ্যসচিব মু. হুমায়ুন কবীর জানান, সংসদীয় কমিটি কিছু সুপারিশ করেছে। এর আলোকে মন্ত্রণালয় যথোপযুক্ত ব্যবস্থা নেবে।
বাংলাদেশ ওষুধ শিল্প সমিতির সাধারণ সম্পাদক আবদুল মুক্তাদির প্রথম আলোকে বলেন, সংগঠন কোনো প্রতিষ্ঠান বন্ধের সুপারিশ করবে না। তবে সংগঠনের পক্ষ থেকে প্রশিক্ষণ দেওয়ার উদ্যোগ নেওয়া হয়েছে। এ সুযোগ যেকোনো প্রতিষ্ঠান নিতে পারে।
নীতিমালা মেনে চলছে ২২ প্রতিষ্ঠান: সংসদীয় কমিটি সূত্র জানায়, বিশ্ব স্বাস্থ্য সংস্থার নীতিমালা কঠিনভাবে অনুসরণ করছে ১২টি প্রতিষ্ঠান। এগুলো হলো—স্কয়ার ফার্মাসিউটিক্যালস লিমিটেড (পাবনা ও গাজীপুর), এসিআই লিমিটেড, এসকেএফ বাংলাদেশ লিমিটেড (টঙ্গী), বেক্সিমকো ফার্মাসিউটিক্যালস, বেক্সিমকো ইনফিউশনস লিমিটেড, গ্ল্যাক্সোস্মিথক্লাইন লিমিটেড, ইনসেপ্টা ফার্মাসিউটিক্যালস লিমিটেড, নোভারটিস (বাংলাদেশ) লিমিটেড, রেনাটা লিমিটেড, সানোফি এভেন্টিস লিমিটেড ও স্কয়ার সেফালোসপরিন লিমিটেড।
এই প্রতিষ্ঠানগুলো বিশ্বের ৮৬টি দেশে ওষুধ রপ্তানি করছে এবং দেশীয় বাজারের ৬৭ ভাগ এদের নিয়ন্ত্রণে। শীর্ষ ২০টি প্রতিষ্ঠান নিয়ন্ত্রণ করছে দেশের ৮৫ ভাগ বাজার।
এর বাইরে আরও ১০টি প্রতিষ্ঠান বিশ্ব স্বাস্থ্য সংস্থার উৎপাদন-কৌশল ‘সন্তোষজনক’ভাবে অনুসরণ করছে। এই প্রতিষ্ঠানগুলো হলো—অ্যাকমি ল্যাবরেটরিজ লিমিটেড, এসকেএফ বাংলাদেশ লিমিটেড (মিরপুর), অ্যারিসটোফার্মা লিমিটেড, বীকন ফার্মাসিউটিক্যালস লিমিটেড, অ্যাসেনসিয়াল ড্রাগস কোম্পানি লিমিটেড (রাষ্ট্রায়ত্ত প্রতিষ্ঠান), বেক্সিমকো ফার্মা (গাজীপুর), অপসোনিন ফার্মা লিমিটেড (বগুড়া রোড, বরিশাল), অরিয়ন ফার্মা লিমিটেড, পপুলার ফার্মাসিউটিক্যালস লিমিটেড ও ইউনিমেড অ্যান্ড ইউনিহেলথ ম্যানুফ্যাকচারার্স লিমিটেড।
দুর্বল অবকাঠামো, অপরিচ্ছন্ন পরিবেশে তৈরি হচ্ছে ওষুধ: সংসদীয় স্থায়ী কমিটি ও বিশেষজ্ঞ দলের সঙ্গে কথা বলে জানা যায়, ১৯৭৬ সালে বিশ্ব স্বাস্থ্য সংস্থা উন্নয়নশীল দেশগুলোর জন্য একটি সহজ নীতিমালা তৈরি করে। তার ভিত্তিতে পরিদর্শক দল কারখানার অবকাঠামো, ওষুধের উৎপাদন ও মান নিয়ন্ত্রণের পদ্ধতি, ডকুমেন্টেশন, উপযুক্ত জনবল, ওষুধ সংরক্ষণ, বিতরণ ও বাজারজাতকরণ প্রণালি, পরিচ্ছন্নতা ও পানির সুবিধা—এই বিষয়গুলোর ওপর ওষুধ উৎপাদনকারী প্রতিষ্ঠানগুলোকে এ১ থেকে এফ শ্রেণীভুক্ত করে।
কমিটির মন্তব্য, ডি, ই ও এফ শ্রেণীভুক্ত ৬২টি কারখানা উত্তম উৎপাদন-কৌশল অনুযায়ী অনুমোদনযোগ্য নয় এবং জনস্বাস্থ্যের জন্য ক্ষতিকর। তাদের সমস্যা প্রচুর এবং তাদের পক্ষে কার্যকর ও নিরাপদ ওষুধ উৎপাদন করা সম্ভব নয়। প্যারাসিটামল সিরাপে ব্যবহূত প্রোপাইলিন গ্লাইকলের পরিবর্তে ভুলক্রমে ডাই ইথালিন গ্লাইকল ব্যবহার করা হলেও তা নির্ণয়ের কোনো ক্ষমতা নেই এদের। এ ছাড়া যে ওষুধে ৫০০ মিলিগ্রাম থাকার কথা, সে ওষুধে আদতে কতটুকু কী আছে, তাও প্রতিষ্ঠানগুলো পরিমাপ করতে পারছে না।
২০০৮ সালে রিড ফার্মার প্যারাসিটামলে ডাই ইথালিন গ্লাইকল মেশানো হয়েছিল। এই রাসায়নিকটি ট্যানারিশিল্প ও গ্লাস তৈরিতে ব্যবহার হয়। ডাই ইথালিন গ্লাইকলের কারণে শিশুদের কিডনি বিকল হয় বলে চিকিৎসকেরা জানান। প্রোপাইলন গ্লাইকলের দাম বেশি হওয়ায় রীড ফার্মা সিরাপে ডাই ইথালিন গ্লাইকল মিশিয়েছিল।
সংসদীয় কমিটি জানায়, নিম্নমানের ওষুধ উৎপাদনকারী প্রতিষ্ঠানগুলোয় প্রশিক্ষিত জনবল নেই, থাকলেও সংখ্যায় খুবই কম ও অনিয়মিত। এখানে কাজ করছেন দৈনিক ভিত্তিতে নিয়োজিত শ্রমিকেরা। উত্তম উৎপাদন-কৌশল অনুসরণ করছে—এমন প্রতিষ্ঠানগুলোয় নিজস্ব ডিস্টিলেশন প্লান্ট আছে। এখানে নিয়মিত ভিত্তিতে পানি পরিশোধন-প্রক্রিয়া ও গুণগত মান পরীক্ষা করা হয়।
অন্যদিকে ডি, ই এবং এফ ক্যাটাগরির প্রতিষ্ঠানে ওয়াসার পানি সরাসরি ব্যবহার করা হচ্ছে। এদের তাপ ও আর্দ্রতা নিয়ন্ত্রণ করা যায়—এমন কোনো সুষ্ঠু সংরক্ষণের ব্যবস্থা নেই। যেসব উপকরণ নিয়ন্ত্রিত তাপমাত্রায় (৮-২০ ডিগ্রি সেন্টিগ্রেড) সংরক্ষণ করতে হয়, সেসব উপকরণ নষ্ট হয়ে যায়।
সংসদীয় কমিটির সভাপতি শেখ ফজলুল করিম সেলিম প্রথম আলোকে বলেন, পরিদর্শনের সময় দেখা গেছে, মানহীন প্রতিষ্ঠানগুলো ওষুধের কাঁচামাল, শ্রমিকের কাপড়চোপড়, বস্তা-কাগজ—সব এক জায়গায় রাখছে। পানি রাখছে বালতি, মগ, বড় পাত্রের মধ্যে। হাতাকাটা গেঞ্জি ও প্যান্ট পরে ওষুধ তৈরি করছেন শ্রমিকেরা। অথচ বিশেষ ধরনের পোশাক পরে ফার্মাসিস্টদের এ কাজ করার কথা।
ঔষধ প্রশাসন অধিদপ্তরের ভূমিকা প্রশ্নবিদ্ধ: বিশেষজ্ঞ কমিটির প্রধান আ ব ম ফারুক বলেন, ঔষধ প্রশাসন অধিদপ্তরের ভূমিকা খতিয়ে দেখা এ কমিটির উদ্দেশ্য ছিল না। তবে পরিদর্শনের সময় তারা দেখেছে, অধিদপ্তর ২৬১টি প্রতিষ্ঠানকে অনুমোদন দিলেও বাস্তবে ১৯৩টি প্রতিষ্ঠান আছে। বাকি প্রতিষ্ঠানগুলোর কোনো অস্তিত্বই নেই।
এদিকে সংসদীয় কমিটি প্রতিবেদনে উল্লেখ করেছে, ঔষধ প্রশাসন অধিদপ্তর বিভিন্ন অভিযোগে সাময়িক লাইসেন্স বাতিল করেছে—এমন কয়েকটি প্রতিষ্ঠানও উৎপাদন চালু রেখেছে। পরিদর্শনের সময় এর প্রমাণ পাওয়া গেছে। তারা পুরোনো ব্যাচ নম্বর ও উৎপাদনের তারিখ ব্যবহার করে ওষুধ তৈরি করছিল।
জিএমপি অনুসরণ করছে না—এমন ৬২টি প্রতিষ্ঠান কী করে অধিদপ্তরের অনুমোদন পেল, জানতে চাইলে অধিদপ্তর কোনো সদুত্তর দিতে পারেনি। অধিদপ্তরের মুখপাত্র সহকারী পরিচালক রুহুল আমিন বলেন, তাঁরা এখন পর্যন্ত এ ধরনের কোনো তালিকা পাননি। অভিযোগ প্রমাণিত হলে এদের বিরুদ্ধে ব্যবস্থা নেওয়া হবে।
দেশের ওষুধ উৎপাদনকারী ১৫১টি প্রতিষ্ঠানের মধ্যে মাত্র ২২টি মানসম্মত ওষুধ উৎপাদন ও বিপণন করছে। বাকিগুলো ঔষধ প্রশাসন অধিদপ্তরের অনুমোদন পেলেও খেয়ালখুশিমতো চলছে। স্বাস্থ্য ও পরিবারকল্যাণ মন্ত্রণালয়-সম্পর্কিত সংসদীয় স্থায়ী কমিটি সম্প্রতি এ ধরনের ৬২টি প্রতিষ্ঠান একেবারে বন্ধ করে দেওয়ার সুপারিশ করেছে।
স্বাস্থ্য মন্ত্রণালয়ের কাছে দেওয়া সংসদীয় কমিটির প্রতিবেদনে বলা হয়েছে, নকল, ভেজাল ও নিম্নমানের ওষুধ যেকোনো সময় দেশে ভয়াবহ স্বাস্থ্য-বিপর্যয় ডেকে আনতে পারে। কিন্তু দুর্বল নজরদারির কারণে নিম্নমানের ওষুধ উৎপাদন ও বিপণন বন্ধ করা যাচ্ছে না। ঔষধ প্রশাসন অধিদপ্তর উৎপাদন স্থগিত রেখেছে—এমন কিছু প্রতিষ্ঠানও ওষুধ উৎপাদন ও বিপণন করছে।
স্বাস্থ্য মন্ত্রণালয়-সম্পর্কিত স্থায়ী কমিটির প্রধান শেখ ফজলুল করিম সেলিম বলেন, খেয়ালখুশিমতো চলছে এমন ৬২টি প্রতিষ্ঠান একেবারে বন্ধ করে দেওয়ার সুপারিশ করেছে কমিটি। এর বাইরে কিছু শর্ত মানছে না, এমন ৪১টি প্রতিষ্ঠানকে সংশোধিত হওয়ার শর্ত দেওয়া হয়েছে। বাকি ২৬টি ওষুধ প্রস্তুতকারী প্রতিষ্ঠান বিশ্ব স্বাস্থ্য সংস্থার জিএমপি নীতিমালার কিছু কিছু মেনে চলছে।
বন্ধ করে দেওয়া উচিত এমন প্রতিষ্ঠানের তালিকা কেন প্রকাশ করা হচ্ছে না, এ প্রশ্নের জবাবে শেখ সেলিম বলেন, এতে মানুষের মধ্যে আতঙ্কের সৃষ্টি হতে পারে। আন্তর্জাতিক বাজারে বাংলাদেশের সুনাম ক্ষুণ্ন হতে পারে।
২০০৯ সালের গোড়ার দিকে ব্রাহ্মণবাড়িয়ার রিড ফার্মাসিউটিক্যালসের প্যারাসিটামল ওষুধ খেয়ে ২৪ শিশু কিডনি বিকল হয়ে মারা যায়। ওই ঘটনার পর স্বাস্থ্য মন্ত্রণালয়-সম্পর্কিত সংসদীয় স্থায়ী কমিটি দেশের ওষুধ শিল্পপ্রতিষ্ঠানগুলোর মান নির্ণয়ে ঢাকা বিশ্ববিদ্যালয়ের ফার্মেসি অনুষদের ডিন আ ব ম ফারুকের নেতৃত্বে একটি বিশেষজ্ঞ কমিটি গঠন করে। প্রায় দেড় বছর ধরে বাংলাদেশের সব কটি প্রতিষ্ঠান ঘুরে কমিটি প্রতিবেদন পেশ করেছে।
কমিটির প্রধান আ ব ম ফারুক প্রথম আলোকে বলেন, ১৯৮২ ও ২০০৫ সালের ওষুধনীতিতে বিশ্ব স্বাস্থ্য সংস্থার ‘গুড ম্যানুফ্যাকচারিং প্র্যাকটিস’ (উত্তম উৎপাদন কৌশল—জিএমপি) অনুসরণের নির্দেশনা ছিল। কিন্তু অনেক প্রতিষ্ঠানই নিয়মকানুন মানছে না। এই প্রতিষ্ঠানগুলো যেসব ওষুধ উৎপাদন করছে, সেগুলো জনস্বাস্থ্যের জন্য মারাত্মক হুমকি। হয়তো অনেকে এসব ওষুধের কারণে মারাও যাচ্ছে। খতিয়ে দেখা হচ্ছে না।
সুপারিশ বাস্তবায়নের অগ্রগতি সম্পর্কে স্বাস্থ্যসচিব মু. হুমায়ুন কবীর জানান, সংসদীয় কমিটি কিছু সুপারিশ করেছে। এর আলোকে মন্ত্রণালয় যথোপযুক্ত ব্যবস্থা নেবে।
বাংলাদেশ ওষুধ শিল্প সমিতির সাধারণ সম্পাদক আবদুল মুক্তাদির প্রথম আলোকে বলেন, সংগঠন কোনো প্রতিষ্ঠান বন্ধের সুপারিশ করবে না। তবে সংগঠনের পক্ষ থেকে প্রশিক্ষণ দেওয়ার উদ্যোগ নেওয়া হয়েছে। এ সুযোগ যেকোনো প্রতিষ্ঠান নিতে পারে।
নীতিমালা মেনে চলছে ২২ প্রতিষ্ঠান: সংসদীয় কমিটি সূত্র জানায়, বিশ্ব স্বাস্থ্য সংস্থার নীতিমালা কঠিনভাবে অনুসরণ করছে ১২টি প্রতিষ্ঠান। এগুলো হলো—স্কয়ার ফার্মাসিউটিক্যালস লিমিটেড (পাবনা ও গাজীপুর), এসিআই লিমিটেড, এসকেএফ বাংলাদেশ লিমিটেড (টঙ্গী), বেক্সিমকো ফার্মাসিউটিক্যালস, বেক্সিমকো ইনফিউশনস লিমিটেড, গ্ল্যাক্সোস্মিথক্লাইন লিমিটেড, ইনসেপ্টা ফার্মাসিউটিক্যালস লিমিটেড, নোভারটিস (বাংলাদেশ) লিমিটেড, রেনাটা লিমিটেড, সানোফি এভেন্টিস লিমিটেড ও স্কয়ার সেফালোসপরিন লিমিটেড।
এই প্রতিষ্ঠানগুলো বিশ্বের ৮৬টি দেশে ওষুধ রপ্তানি করছে এবং দেশীয় বাজারের ৬৭ ভাগ এদের নিয়ন্ত্রণে। শীর্ষ ২০টি প্রতিষ্ঠান নিয়ন্ত্রণ করছে দেশের ৮৫ ভাগ বাজার।
এর বাইরে আরও ১০টি প্রতিষ্ঠান বিশ্ব স্বাস্থ্য সংস্থার উৎপাদন-কৌশল ‘সন্তোষজনক’ভাবে অনুসরণ করছে। এই প্রতিষ্ঠানগুলো হলো—অ্যাকমি ল্যাবরেটরিজ লিমিটেড, এসকেএফ বাংলাদেশ লিমিটেড (মিরপুর), অ্যারিসটোফার্মা লিমিটেড, বীকন ফার্মাসিউটিক্যালস লিমিটেড, অ্যাসেনসিয়াল ড্রাগস কোম্পানি লিমিটেড (রাষ্ট্রায়ত্ত প্রতিষ্ঠান), বেক্সিমকো ফার্মা (গাজীপুর), অপসোনিন ফার্মা লিমিটেড (বগুড়া রোড, বরিশাল), অরিয়ন ফার্মা লিমিটেড, পপুলার ফার্মাসিউটিক্যালস লিমিটেড ও ইউনিমেড অ্যান্ড ইউনিহেলথ ম্যানুফ্যাকচারার্স লিমিটেড।
দুর্বল অবকাঠামো, অপরিচ্ছন্ন পরিবেশে তৈরি হচ্ছে ওষুধ: সংসদীয় স্থায়ী কমিটি ও বিশেষজ্ঞ দলের সঙ্গে কথা বলে জানা যায়, ১৯৭৬ সালে বিশ্ব স্বাস্থ্য সংস্থা উন্নয়নশীল দেশগুলোর জন্য একটি সহজ নীতিমালা তৈরি করে। তার ভিত্তিতে পরিদর্শক দল কারখানার অবকাঠামো, ওষুধের উৎপাদন ও মান নিয়ন্ত্রণের পদ্ধতি, ডকুমেন্টেশন, উপযুক্ত জনবল, ওষুধ সংরক্ষণ, বিতরণ ও বাজারজাতকরণ প্রণালি, পরিচ্ছন্নতা ও পানির সুবিধা—এই বিষয়গুলোর ওপর ওষুধ উৎপাদনকারী প্রতিষ্ঠানগুলোকে এ১ থেকে এফ শ্রেণীভুক্ত করে।
কমিটির মন্তব্য, ডি, ই ও এফ শ্রেণীভুক্ত ৬২টি কারখানা উত্তম উৎপাদন-কৌশল অনুযায়ী অনুমোদনযোগ্য নয় এবং জনস্বাস্থ্যের জন্য ক্ষতিকর। তাদের সমস্যা প্রচুর এবং তাদের পক্ষে কার্যকর ও নিরাপদ ওষুধ উৎপাদন করা সম্ভব নয়। প্যারাসিটামল সিরাপে ব্যবহূত প্রোপাইলিন গ্লাইকলের পরিবর্তে ভুলক্রমে ডাই ইথালিন গ্লাইকল ব্যবহার করা হলেও তা নির্ণয়ের কোনো ক্ষমতা নেই এদের। এ ছাড়া যে ওষুধে ৫০০ মিলিগ্রাম থাকার কথা, সে ওষুধে আদতে কতটুকু কী আছে, তাও প্রতিষ্ঠানগুলো পরিমাপ করতে পারছে না।
২০০৮ সালে রিড ফার্মার প্যারাসিটামলে ডাই ইথালিন গ্লাইকল মেশানো হয়েছিল। এই রাসায়নিকটি ট্যানারিশিল্প ও গ্লাস তৈরিতে ব্যবহার হয়। ডাই ইথালিন গ্লাইকলের কারণে শিশুদের কিডনি বিকল হয় বলে চিকিৎসকেরা জানান। প্রোপাইলন গ্লাইকলের দাম বেশি হওয়ায় রীড ফার্মা সিরাপে ডাই ইথালিন গ্লাইকল মিশিয়েছিল।
সংসদীয় কমিটি জানায়, নিম্নমানের ওষুধ উৎপাদনকারী প্রতিষ্ঠানগুলোয় প্রশিক্ষিত জনবল নেই, থাকলেও সংখ্যায় খুবই কম ও অনিয়মিত। এখানে কাজ করছেন দৈনিক ভিত্তিতে নিয়োজিত শ্রমিকেরা। উত্তম উৎপাদন-কৌশল অনুসরণ করছে—এমন প্রতিষ্ঠানগুলোয় নিজস্ব ডিস্টিলেশন প্লান্ট আছে। এখানে নিয়মিত ভিত্তিতে পানি পরিশোধন-প্রক্রিয়া ও গুণগত মান পরীক্ষা করা হয়।
অন্যদিকে ডি, ই এবং এফ ক্যাটাগরির প্রতিষ্ঠানে ওয়াসার পানি সরাসরি ব্যবহার করা হচ্ছে। এদের তাপ ও আর্দ্রতা নিয়ন্ত্রণ করা যায়—এমন কোনো সুষ্ঠু সংরক্ষণের ব্যবস্থা নেই। যেসব উপকরণ নিয়ন্ত্রিত তাপমাত্রায় (৮-২০ ডিগ্রি সেন্টিগ্রেড) সংরক্ষণ করতে হয়, সেসব উপকরণ নষ্ট হয়ে যায়।
সংসদীয় কমিটির সভাপতি শেখ ফজলুল করিম সেলিম প্রথম আলোকে বলেন, পরিদর্শনের সময় দেখা গেছে, মানহীন প্রতিষ্ঠানগুলো ওষুধের কাঁচামাল, শ্রমিকের কাপড়চোপড়, বস্তা-কাগজ—সব এক জায়গায় রাখছে। পানি রাখছে বালতি, মগ, বড় পাত্রের মধ্যে। হাতাকাটা গেঞ্জি ও প্যান্ট পরে ওষুধ তৈরি করছেন শ্রমিকেরা। অথচ বিশেষ ধরনের পোশাক পরে ফার্মাসিস্টদের এ কাজ করার কথা।
ঔষধ প্রশাসন অধিদপ্তরের ভূমিকা প্রশ্নবিদ্ধ: বিশেষজ্ঞ কমিটির প্রধান আ ব ম ফারুক বলেন, ঔষধ প্রশাসন অধিদপ্তরের ভূমিকা খতিয়ে দেখা এ কমিটির উদ্দেশ্য ছিল না। তবে পরিদর্শনের সময় তারা দেখেছে, অধিদপ্তর ২৬১টি প্রতিষ্ঠানকে অনুমোদন দিলেও বাস্তবে ১৯৩টি প্রতিষ্ঠান আছে। বাকি প্রতিষ্ঠানগুলোর কোনো অস্তিত্বই নেই।
এদিকে সংসদীয় কমিটি প্রতিবেদনে উল্লেখ করেছে, ঔষধ প্রশাসন অধিদপ্তর বিভিন্ন অভিযোগে সাময়িক লাইসেন্স বাতিল করেছে—এমন কয়েকটি প্রতিষ্ঠানও উৎপাদন চালু রেখেছে। পরিদর্শনের সময় এর প্রমাণ পাওয়া গেছে। তারা পুরোনো ব্যাচ নম্বর ও উৎপাদনের তারিখ ব্যবহার করে ওষুধ তৈরি করছিল।
জিএমপি অনুসরণ করছে না—এমন ৬২টি প্রতিষ্ঠান কী করে অধিদপ্তরের অনুমোদন পেল, জানতে চাইলে অধিদপ্তর কোনো সদুত্তর দিতে পারেনি। অধিদপ্তরের মুখপাত্র সহকারী পরিচালক রুহুল আমিন বলেন, তাঁরা এখন পর্যন্ত এ ধরনের কোনো তালিকা পাননি। অভিযোগ প্রমাণিত হলে এদের বিরুদ্ধে ব্যবস্থা নেওয়া হবে।
Friday, August 26
ফেসবুকের খুঁটিনাটি
Alo (August 26, 2011)
বাংলাদেশে এখন ১৬ লাখের বেশি মানুষ ফেসবুক ব্যবহার করেন। ফেসবুকের খুঁটিনাটি জানা ব্যবহারকারীর জন্য জরুরি। কারণ, একদিকে আরও বেশি কার্যকরভাবে ফেসবুক ব্যবহার করা যাবে, আবার নিজের ব্যক্তিগত গোপনীয়তা ও নিরাপত্তার দিকটাও দেখতে হবে। ফেসবুকের খুঁটিনাটি নিয়েই এ আয়োজন।
নাম পরিবর্তন
ফেসবুকে নাম ও অ্যাকাউন্টের বিভিন্ন তথ্য পরিবর্তন করা যায়। এ জন্য প্রথমে www.facebook.com ওয়েবসাইটে গিয়ে নিজের অ্যাকাউন্টে ঢুকতে হবে।ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। এখন Name-এর ডান পাশের Edit-এ ক্লিক করে নতুন নাম লিখে Save Changes-এ ক্লিক করুন।
ব্যবহারকারীর নাম যুক্ত করা
অনেকেই ফেসবুকে আলাদা একটা নাম (ইউজারনেম) ব্যবহার করে থাকেন। ইউজারনেম ব্যবহার করলে ফেসবুকে কাউকে সহজেই খুঁজে পাওয়া যায় এবং নিজের একটি আলাদা ফেসবুক ঠিকানা (লিংক) হয়। ফেসবুকে ঢোকার (লগ-ইন) সময় ই-মেইল ঠিকানার পরিবর্তে এই ইউজারনেম ব্যবহার করা যায়। ইউজারনেম যোগ করার জন্য প্রথমে Account/Account Settings-এ ক্লিক করুন। নতুন পেজ এলে সেখান থেকে Username-এর ডান পাশের Edit-এ ক্লিক করুন। Username বক্সে কোনো নাম লিখুন (কমপক্ষে পাঁচটি বর্ণের)। নামটি ফাঁকা থাকলে Save Changes-এ ক্লিক করুন। আর ফাঁকা না থাকলে অন্য নাম দিয়ে আবার চেষ্টা করুন। ধরুন, আপনি ইউজারনেম নির্বাচন করেছেন ARSUST, তাহলে আপনার ফেসবুকের ঠিকানা হবে http://www.facebook.com/ARSUST.
ই-মেইল ঠিকানা বদলানো
ফেসবুকে ই-মেইল ঠিকানা বদলের জন্য Account Settings-এ যেতে হবে।এখন Email-এর ডান পাশের Edit-এ ক্লিক করুন। এখন Add another email-এ ক্লিক করুন। New Email : বক্সে নতুন ই-মেইল ঠিকানা লিখে Save Changes-এ ক্লিক করুন। তখন ফেসবুক পাসওয়ার্ড চাইলে পাসওয়ার্ড লিখে Save Changes-এ ক্লিক করুন। এখন আপনার নতুন ই-মেইল ঠিকানায় একটি মেইল যাবে। ওই মেইলে ক্লিক করলেই ফেসবুকে নতুন ই-মেইল ঠিকানাটা যোগ হবে। এখন আপনি দুটি ই-মেইল ঠিকানার যেকোনো একটি দিয়েই ফেসবুকে ঢুকতে পারবেন।
পাসওয়ার্ড পরিবর্তন
ফেসবুকে পাসওয়ার্ড পরিবর্তন করার জন্য প্রথমে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। এখন Password-এর ডান পাশের Edit-এ ক্লিক করে আগের পাসওয়ার্ড এবং দুবার নতুন পাসওয়ার্ড লিখে Save Changes-এ ক্লিক করুন। পাসওয়ার্ড লেখার সময় বর্ণ ও সংখ্যার মিশ্রণ থাকলে ভালো হয়।
নেটওয়ার্কের সঙ্গে যুক্ত হওয়া
ফেসবুকে অনেকের নামের পাশে কলেজ-বিশ্ববিদ্যালয়ের নাম দেখা যায়, আবার অনেকের দেখা যায় না। এগুলো হচ্ছে একেকটা নেটওয়ার্ক। কেউ যদি তাঁর নামের পাশে কোনো নেটওয়ার্ক যুক্ত করতে চান, তাহলে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। নতুন পেজ এলে সেখান থেকে Networks-এর ডান পাশে Edit-এ ক্লিক করুন। এখন Join another Network-এ ক্লিক করে Network name বক্সে কোনো নাম লিখে Save Changes-এ ক্লিক করুন। এভাবে আপনি একাধিক নেটওয়ার্কের সঙ্গেও যুক্ত হতে পারবেন।
ফেসবুকে অন্য অ্যাকাউন্ট
ফেসবুকে আপনার প্রোফাইলে ইয়াহু, জিমেইল, মাইস্পেস ইত্যাদির ঠিকানা যোগ করতে পারেন। এ জন্য লিংকড অ্যাকাউন্টসের ডান পাশের Edit-এ ক্লিক করে অন্য অ্যাকাউন্টগুলোর ঠিকানা লিখে দিলেই চলবে।
ফেসবুক বাংলায়
ফেসবুকের সব লেখা ইংরেজিতে। তবে আশার কথা, চাইলে ফেসবুকের সব লেখা বাংলায় পরিবর্তন করতে পারেন। এ জন্য প্রথমে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। নতুন পেজ এলে নিচে থেকে Language-এর ডান পাশে Edit-এ ক্লিক করুন। এখন Choose Primary-তে English (US)-এর পরিবর্তে বাংলা সিলেক্ট করে Save Changes-এ ক্লিক করুন। দেখবেন সব ফেসবুক বাংলা হয়ে গেছে। আবার ইংরেজি করতে চাইলে একই পদ্ধতিতে বাংলার পরিবর্তে English (US) সিলেক্ট করে Save Changes-এ ক্লিক করুন।
রেখে দিন দরকারি জিনিস
অজকাল প্রায়ই ই-মেইল ঠিকানা, ফেসবুক অ্যাকাউন্ট চুরি (হ্যাকড) হওয়ার কথা শোনা যায়। আপনি হয়তো অনেক দিন ধরে ফেসবুক ব্যবহার করেন। ফেসবুকে আপনার অনেক গুরুত্বপূর্ণ ছবি, তথ্য ও আপনার অনেক বন্ধু আছে। কিন্তু আপনার ফেসবুক অ্যাকাউন্ট যদি চুরি হয়ে যায় বা কোনো কারণে নিষ্ক্রিয় (ডিজেবল) হয়ে যায়, তখন সবকিছুই হারিয়ে যাবে। ফেসবুক অ্যাকাউন্ট হ্যাকিং বা ডিজেবল হলেও যাতে কোনো তথ্য হারাতে না হয়, এ জন্য ফেসবুকের ব্যাকআপ রাখতে পারেন। ফেসবুকের ব্যাকআপ রাখার জন্য প্রথমে ওপরে ডান পাশের Account থেকে Account Settings-এ ক্লিক করুন। এখন সবার নিচে Download a copy-এ ক্লিক করুন। নতুন পেজ এলে Start My Archive-এ ক্লিক করুন। এখন আপনার ফেসবুক অ্যাকাউন্টের একটি ব্যাকআপ প্রোফাইল তৈরি হতে থাকবে। ব্যাকআপ প্রোফাইল তৈরি হয়ে গেলে আপনার ই-মেইল ঠিকানায় একটি মেইল যাবে। তারপর আবার Account থেকে Account Settings-এ ক্লিক করে Download a copy-এ ক্লিক করে আপনার ফেসবুকের ব্যাকআপ প্রোফাইলটি ডাউনলোড করতে পারবেন।
ডাউনলোড হওয়ার পর জিপ ফাইলটি আনজিপ করুন। এখন index ফাইলটি ওপেন করলে আপনি আপনার ফেসবুকের পুরো প্রোফাইল (ছবি, ওয়াল, মেসেজ, ফ্রেন্ড) দেখতে পারবেন।
অ্যাকাউন্ট বন্ধ করা
আপনি যদি আর ফেসবুক অ্যাকাউন্ট ব্যবহার করতে না চান, তাহলে Account থেকে Account Settings-এ ক্লিক করুন। এখন বাঁ পাশ থেকে security-তে ক্লিক করুন। এখন সবার নিচে Deactivate your Account-এ ক্লিক করুন। নতুন পেজ এলে দেখবেন, সেখানে লেখা আছে, আপনি কেন আপনার অ্যাকাউন্টটি নিষ্ক্রিয় (deactivate) করতে চান। অনেকগুলো অপশন থেকে যেকোনো একটি নির্বাচন করে Confirm-এ ক্লিক করুন। পাসওয়ার্ড চাইলে পাসওয়ার্ড এবং নিরাপত্তা সংকেত (সিকিউরিটি কোড) চাইলে সেই কোড দিয়ে ok করুন। পুনরায় চালু (Activate) করতে চাইলে শুধু login করলেই আবার অ্যাকাউন্টটি activate হয়ে যাবে।
একেবারে স্থায়ীভাবে ফেসবুক অ্যাকাউন্ট বন্ধ করতে চাইলে https://www.facebook.com/help/contact.php?show_form=delete_account ঠিকানার ওয়েবসাইট থেকে বন্ধ করে দিতে পারবেন।
ই-মেইলে খবর আসা বন্ধ করা
ফেসবুকের সব খবর ই-মেইলেচলে আসে। আপনার কাছে Add Request, message বা আপনার wall-এ কিছু লেখে বা আপনার কোনো লেখা বা ছবিতে Comments করে, তাহলে তা আবার ই-মেইলের মাধ্যমে আপনাকে জানানো হয়। এতে দেখা যায়, প্রতিদিন ফেসবুক থেকে অসংখ্য ই-মেইল আসে, যা অনেক সময় বিরক্তিকর।
এটি থেকে মুক্তি পেতে হলে প্রথমে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। নতুন যে পেজটি আসবে, সেটির বাঁ পাশ থেকে Notifications-এ ক্লিক করুন। নতুন পেজ এলে ওই পেজের মধ্যে All Notifications-এর ডান পাশে দেখুন বেশ কয়েকটি Edit লেখা অপশন আছে। একটি একটি করে সেখানকার সব কটি Edit-এ ক্লিক করে সব কটি বক্স থেকে সব কটি টিক চিহ্ন তুলে দিয়ে Save Changes-এ ক্লিক করুন।
ব্যক্তিগত গোপনীয়তা
কেউ যদি ফেসবুকে আপনাকে বিরক্ত করে, যেমন—বারবার বার্তা পাঠায়, বারবার Add Request পাঠায়, তাহলে আপনি তাকে ব্লক করে দিতে পারেন। ব্লক করে দিলে সে আর আপনাকে খুঁজে পাবে না। কাউকে ব্লক করতে হলে প্রথমে ওপরে ডান পাশে Account থেকে Privacy Settings-এ ক্লিক করুন। এখন একেবারে নিচে Block Lists-এর নিচে Edit your list-এ ক্লিক করুন। নতুন পেজ এলে Name অথবা Email বক্সে কারও নাম বা ই-মেইল আইডি লিখে Block-এ ক্লিক করে তাকে ব্লক করে দিতে পারেন। অথবা কারও প্রোফাইলের নিচের দিকে বাঁ পাশে Block-এ ক্লিক করেও কাউকে ব্লক করে দিতে পারেন।
প্রোগ্রাম গোছানো
আপনি কী কী প্রোগ্রাম ইনস্টলকরেছেন, সেসব দেখতে চাইলে ওপরে ডান পাশে Account থেকে Privacy Settings-এ ক্লিক করুন। এখন একেবারে নিচে Apps and Websites-এর নিচে Edit your Settings-এ ক্লিক করুন।
নতুন পেজ এলে দেখতে পাবেন আপনি কী কী প্রোগ্রাম ব্যবহার করছেন। কোনোটি বাদ দিতে চাইলে পাশের কাটা চিহ্নে ক্লিক করে বাদ দিতে পারেন।
কতটা দৃশ্যমান হবেন
আপনাকে আপনার বন্ধুরা ছাড়া অন্য কেউ খুঁজে (সার্চ) পাবে না। এমনকি আপনার ই-মেইল ঠিকানা দিয়ে খুঁজলেও না।এমন ব্যবস্থা করতে চাইলে Account থেকে Privacy Settings-এ ক্লিক করুন। এখন ওপরে View settings-এ ক্লিক করুন। নতুন পেজ এলে Search for you on Facebook-এর ডান পাশের Everyone বাটনে ক্লিক করে Only Friends নির্বাচন করে দিন। তাহলে আপনাকে আপনার বন্ধুরা ব্যতীত অন্য কেউ খুঁজে পাবে না। এখন Send you friend requests-এর ডান পাশের Everyone বাটনে ক্লিক করে নির্বাচন করে দিন, তখন যে কেউ আপনাকে friend requests পাঠাতে পারবে।
Send you messages-এর ডান পাশের Everyone বাটনে ক্লিক করে নির্বাচন করে দিন, যে কেউ আপনাকে মেসেজ পাঠাতে পারবে।
See your friendlist-এর ডান পাশের Everyone বাটনে ক্লিক করে নির্বাচন করে দিন, তাহলে সবাই আপনার ফ্রেন্ডলিস্ট দেখতে পারবে। এভাবে বাকি সেটিংসগুলোও নিজের মতো করে তৈরি করে নিতে পারেন।
নিজের ইচ্ছামতো
আপনি আপনার ওয়ালে কোনো কিছু লিখলে বা পোস্ট করলে সেটা কে কে বা কারা দেখবে, সেটা ঠিক করে দিতে পারেন।Privacy Settings-এ গিয়ে নিচে থেকে Customize settings-এ ক্লিক করুন। এখন Posts by me-এর ডান পাশের Everyone বাটনে ক্লিক করে ঠিক করে দিন। কাস্টমাইজও নির্বাচন করতে পারেন।
কাস্টমাইজ নির্বাচন করলে নতুন একটি উইন্ডো আসবে। এখন Make this visible to বক্সে ক্লিক করে Specific People নির্বাচন করলে যাঁরা আপনার ওয়ালের পোস্ট দেখতে পারবেন, তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন (Only Me নির্বাচন করলে শুধু আপনি দেখবেন, আর কেউ দেখতে পারবে না)। যদি কিছু নির্দিষ্ট বন্ধু ছাড়া বাকি সবাই দেখতে পারবে, এমন সেটিংস করতে চান, তাহলে Hide this from বক্সে তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন। এভাবে নিচের বাকি সব কটি ঠিক করতে পারবেন। প্রোফাইল ফটো বা ছবির অ্যালবাম কে কে বা কারা দেখবে, সেটা ঠিক করার জন্য Customize settings-এ যান।এখন আপনার ছবির অ্যালবামের সেটিংস কাস্টমাইজ করার জন্য ওই পেজের মধ্যখানে Edit album privacy-তে ক্লিক করুন। এখন যে অ্যালবামটির কাস্টমাইজ সেটিংস তৈরি করতে চান, সেই অ্যালবামটির নামের নিচের বাটনে ক্লিক করে কাস্টমাইজ নির্বাচন করুন। এখন Make this visible to বক্সে ক্লিক করে Specific People নির্বাচন করে যাঁদের সঙ্গে অ্যালবামটি শেয়ার করতে চান, তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন।
যদি কিছু নির্দিষ্ট বন্ধু ছাড়া বাকি সবার সঙ্গে শেয়ার করতে চান, তাহলে Hide this from বক্সে তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন। আপনাকে ট্যাগ করা ছবি বা ভিডিওটি আপনি ছাড়া আর কেউ দেখবে না। এমন ব্যবস্থা করতে হলে Customize settings পেজের মাঝখানে Photos and videos you’re tagged in-এর ডান পাশে Edit settings-এ ক্লিক করে Who can see photos and videos I’m tagged in-এর ডান পাশে ক্লিক করে Customize নির্বাচন করে Make this visible to বক্সে ক্লিক করে Only Me নির্বাচন করে Save Satting-এ ক্লিক করুন। যাঁরা আপনার বন্ধু নয়, তাঁদের কাছে আপনার ফেসবুক প্রোফাইলটি দেখতে কেমন দেখায়, সেটি দেখতে চাইলে সবার ওপরে ডান পাশে Preview My Profile-এ ক্লিক করুন।
হেল্প সেন্টার
ফেসবুক কিছুদিন পর পর তার সেটিংস পরিবর্তন করে। তা ছাড়া ফেসবুক কিছুদিন পর পরই নতুন নতুন অপশনও যোগ করে। কোনো একটা অপশন কোথায় আছে, তা ভুলে গেলে বা জানা না থাকলে ফেসবুক হেল্প সেন্টারের সাহায্য নেওয়া যায়। যেমন—আপনি যদি ভুল করে কোনো বন্ধুকে হাইট করে ফেলেন, তাহলে তাঁকে আবার আন-হাইট করবেন কীভাবে বা কোনো বন্ধুকে হাইট করবেন কীভাবে? এর উত্তর যদি জানা না থাকে, তাহলে এ জন্য প্রথমে ওপরে ডান পাশে Account থেকে Help Center-এ ক্লিক করুন। নতুন পেজ এলে How i unhide a friend? লিখে সার্চ করুন। রেজাল্ট এলে Expand All-এ ক্লিক করুন। আপনার সমাধান পেয়ে যাবেন।
অ্যাকাউন্টের নিরাপত্তা
আপনার ফেসবুকের ই-মেইল ঠিকানা, পাসওয়ার্ড যদি সবাই জেনে যায়, তাহলেও কেউ আপনার অ্যাকাউন্টে প্রবেশ করতে পারবে না। এ জন্য প্রথমে ফেসবুকে লগইন করে ওপরে ডান পাশের Account থেকে Account Settings-এ ক্লিক করুন। এখন বাঁ পাশ থেকে security-তে ক্লিক করুন। নতুন পেজ এলে Login Notifications-এর ডান পাশে Edit-এ ক্লিক করুন। Email-এর পাশের বক্সে টিক চিহ্ন দিয়ে Save Changes-এ ক্লিক করুন। এখন Login Approvals-এর ডান পাশে Edit-এ ক্লিক করে Require me to enter a security code sent to my phone বক্সে টিক চিহ্ন দেওয়ার সময় নতুন বার্তা এলে Set Up Now-এ ক্লিক করুন। এখন Phone number : বক্সে আপনার মোবাইল নম্বর লিখে Continue-তে ক্লিক করুন। আপনার মোবাইলে একটি কোড নম্বর আসবে। কোড নম্বরটি কোড বক্সে লিখে Continue-তে ক্লিক করুন। তারপর Save Changes-এ ক্লিক করুন। এখন ফেসবুক অ্যাকাউন্ট লগআউট করে পুনরায় ফেসবুকে লগইন করুন। দেখবেন, Name New Computer নামের একটি পেজ এসেছে। সেখানে Computer name বক্সে কোনো নাম লিখে Add to your list of recognized devices বক্সে টিক চিহ্ন দিয়ে Continue-তে ক্লিক করুন।
এখন থেকে প্রতিবার আপনার কম্পিউটার ব্যতীত অন্য কারও কম্পিউটার থেকে আপনার ফেসবুক অ্যাকাউন্টে লগইন করতে চাইলে আপনার মোবাইলে একটি কোড নম্বর আসবে এবং সেই কোড নম্বরটি কোড বক্সে লিখে Continue-তে ক্লিক করলেই কেবল আপনার ফেসবুক অ্যাকাউন্টে প্রবেশ করা যাবে। কাজেই আপনার ফেসবুকের পাসওয়ার্ড সবাই জানলেও কেউ আপনার ফেসবুকে লগইন করতে পারবে না, যতক্ষণ পর্যন্ত না আপনার মোবাইলে আসা কোড নম্বরটি কোড বক্সে প্রবেশ করানো হবে। আপনার ই-মেইলে একটি মেইল যাবে, যেটাতে লেখা থাকবে কে, কখন, কী নাম দিয়ে, কোন আইপি ঠিকানা থেকে আপনার ফেসবুকে প্রবেশ করেছিল।
মোবাইল নম্বর যোগ করা
ফেসবুকে মোবাইল ফোন নম্বর যোগ করলে আপনার ফেসবুক অ্যাকাউন্ট যদি কখনো চুরি হয়ে যায়, তাহলে মোবাইল নম্বর দিয়ে তা উদ্ধার করতে পারবেন। আবার আপনি ইচ্ছা করলে ফেসবুকের খবর বা নোটিফিকেশনসগুলোও মোবাইল ফোনে পেতে পারেন বিনা মূল্যে। এ জন্য প্রথমে ওপরে ডান পাশের Account থেকে Account Settings-এ গিয়ে বাঁ পাশ থেকে Mobile-এ ক্লিক করুন। এখন Add a Phone লিংকে ক্লিক করুন। নতুন উইন্ডো এলে Mobile Carrier : এ বাংলালিংক, সিটিসেল, গ্রামীণফোন, এয়ারটেল বা রবি নির্বাচন করে Next-এ ক্লিক করুন। আপনার মোবাইল নম্বরটি আপনার ফেসবুক প্রোফাইলে যোগ করতে না চাইলে Add this phone number to my profile বক্স থেকে টিক চিহ্নটি তুলে দিন। আপনার মোবাইল থেকে F লিখে 32665-এ মেসেজ দিন। ফিরতি মেসেজে আপনার কাছে একটি কোড নম্বর আসবে, সেটি কোড বক্সে লিখে Next-এ ক্লিক করুন।
প্রোফাইল সেটিংস
আপনার Profile-এ ক্লিক করে ওপরে আপনার নামের নিচে Edit Profile-এ ক্লিক করে বাঁ পাশ থেকে Basic Information, Profile picture, Friends and Family, Education and work, Contact Information ইত্যাদিতে ক্লিক করে মনের মতো করে তথ্য যোগ করতে পারেন।
বাংলাদেশে এখন ১৬ লাখের বেশি মানুষ ফেসবুক ব্যবহার করেন। ফেসবুকের খুঁটিনাটি জানা ব্যবহারকারীর জন্য জরুরি। কারণ, একদিকে আরও বেশি কার্যকরভাবে ফেসবুক ব্যবহার করা যাবে, আবার নিজের ব্যক্তিগত গোপনীয়তা ও নিরাপত্তার দিকটাও দেখতে হবে। ফেসবুকের খুঁটিনাটি নিয়েই এ আয়োজন।
নাম পরিবর্তন
ফেসবুকে নাম ও অ্যাকাউন্টের বিভিন্ন তথ্য পরিবর্তন করা যায়। এ জন্য প্রথমে www.facebook.com ওয়েবসাইটে গিয়ে নিজের অ্যাকাউন্টে ঢুকতে হবে।ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। এখন Name-এর ডান পাশের Edit-এ ক্লিক করে নতুন নাম লিখে Save Changes-এ ক্লিক করুন।
ব্যবহারকারীর নাম যুক্ত করা
অনেকেই ফেসবুকে আলাদা একটা নাম (ইউজারনেম) ব্যবহার করে থাকেন। ইউজারনেম ব্যবহার করলে ফেসবুকে কাউকে সহজেই খুঁজে পাওয়া যায় এবং নিজের একটি আলাদা ফেসবুক ঠিকানা (লিংক) হয়। ফেসবুকে ঢোকার (লগ-ইন) সময় ই-মেইল ঠিকানার পরিবর্তে এই ইউজারনেম ব্যবহার করা যায়। ইউজারনেম যোগ করার জন্য প্রথমে Account/Account Settings-এ ক্লিক করুন। নতুন পেজ এলে সেখান থেকে Username-এর ডান পাশের Edit-এ ক্লিক করুন। Username বক্সে কোনো নাম লিখুন (কমপক্ষে পাঁচটি বর্ণের)। নামটি ফাঁকা থাকলে Save Changes-এ ক্লিক করুন। আর ফাঁকা না থাকলে অন্য নাম দিয়ে আবার চেষ্টা করুন। ধরুন, আপনি ইউজারনেম নির্বাচন করেছেন ARSUST, তাহলে আপনার ফেসবুকের ঠিকানা হবে http://www.facebook.com/ARSUST.
ই-মেইল ঠিকানা বদলানো
ফেসবুকে ই-মেইল ঠিকানা বদলের জন্য Account Settings-এ যেতে হবে।এখন Email-এর ডান পাশের Edit-এ ক্লিক করুন। এখন Add another email-এ ক্লিক করুন। New Email : বক্সে নতুন ই-মেইল ঠিকানা লিখে Save Changes-এ ক্লিক করুন। তখন ফেসবুক পাসওয়ার্ড চাইলে পাসওয়ার্ড লিখে Save Changes-এ ক্লিক করুন। এখন আপনার নতুন ই-মেইল ঠিকানায় একটি মেইল যাবে। ওই মেইলে ক্লিক করলেই ফেসবুকে নতুন ই-মেইল ঠিকানাটা যোগ হবে। এখন আপনি দুটি ই-মেইল ঠিকানার যেকোনো একটি দিয়েই ফেসবুকে ঢুকতে পারবেন।
পাসওয়ার্ড পরিবর্তন
ফেসবুকে পাসওয়ার্ড পরিবর্তন করার জন্য প্রথমে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। এখন Password-এর ডান পাশের Edit-এ ক্লিক করে আগের পাসওয়ার্ড এবং দুবার নতুন পাসওয়ার্ড লিখে Save Changes-এ ক্লিক করুন। পাসওয়ার্ড লেখার সময় বর্ণ ও সংখ্যার মিশ্রণ থাকলে ভালো হয়।
নেটওয়ার্কের সঙ্গে যুক্ত হওয়া
ফেসবুকে অনেকের নামের পাশে কলেজ-বিশ্ববিদ্যালয়ের নাম দেখা যায়, আবার অনেকের দেখা যায় না। এগুলো হচ্ছে একেকটা নেটওয়ার্ক। কেউ যদি তাঁর নামের পাশে কোনো নেটওয়ার্ক যুক্ত করতে চান, তাহলে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। নতুন পেজ এলে সেখান থেকে Networks-এর ডান পাশে Edit-এ ক্লিক করুন। এখন Join another Network-এ ক্লিক করে Network name বক্সে কোনো নাম লিখে Save Changes-এ ক্লিক করুন। এভাবে আপনি একাধিক নেটওয়ার্কের সঙ্গেও যুক্ত হতে পারবেন।
ফেসবুকে অন্য অ্যাকাউন্ট
ফেসবুকে আপনার প্রোফাইলে ইয়াহু, জিমেইল, মাইস্পেস ইত্যাদির ঠিকানা যোগ করতে পারেন। এ জন্য লিংকড অ্যাকাউন্টসের ডান পাশের Edit-এ ক্লিক করে অন্য অ্যাকাউন্টগুলোর ঠিকানা লিখে দিলেই চলবে।
ফেসবুক বাংলায়
ফেসবুকের সব লেখা ইংরেজিতে। তবে আশার কথা, চাইলে ফেসবুকের সব লেখা বাংলায় পরিবর্তন করতে পারেন। এ জন্য প্রথমে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। নতুন পেজ এলে নিচে থেকে Language-এর ডান পাশে Edit-এ ক্লিক করুন। এখন Choose Primary-তে English (US)-এর পরিবর্তে বাংলা সিলেক্ট করে Save Changes-এ ক্লিক করুন। দেখবেন সব ফেসবুক বাংলা হয়ে গেছে। আবার ইংরেজি করতে চাইলে একই পদ্ধতিতে বাংলার পরিবর্তে English (US) সিলেক্ট করে Save Changes-এ ক্লিক করুন।
রেখে দিন দরকারি জিনিস
অজকাল প্রায়ই ই-মেইল ঠিকানা, ফেসবুক অ্যাকাউন্ট চুরি (হ্যাকড) হওয়ার কথা শোনা যায়। আপনি হয়তো অনেক দিন ধরে ফেসবুক ব্যবহার করেন। ফেসবুকে আপনার অনেক গুরুত্বপূর্ণ ছবি, তথ্য ও আপনার অনেক বন্ধু আছে। কিন্তু আপনার ফেসবুক অ্যাকাউন্ট যদি চুরি হয়ে যায় বা কোনো কারণে নিষ্ক্রিয় (ডিজেবল) হয়ে যায়, তখন সবকিছুই হারিয়ে যাবে। ফেসবুক অ্যাকাউন্ট হ্যাকিং বা ডিজেবল হলেও যাতে কোনো তথ্য হারাতে না হয়, এ জন্য ফেসবুকের ব্যাকআপ রাখতে পারেন। ফেসবুকের ব্যাকআপ রাখার জন্য প্রথমে ওপরে ডান পাশের Account থেকে Account Settings-এ ক্লিক করুন। এখন সবার নিচে Download a copy-এ ক্লিক করুন। নতুন পেজ এলে Start My Archive-এ ক্লিক করুন। এখন আপনার ফেসবুক অ্যাকাউন্টের একটি ব্যাকআপ প্রোফাইল তৈরি হতে থাকবে। ব্যাকআপ প্রোফাইল তৈরি হয়ে গেলে আপনার ই-মেইল ঠিকানায় একটি মেইল যাবে। তারপর আবার Account থেকে Account Settings-এ ক্লিক করে Download a copy-এ ক্লিক করে আপনার ফেসবুকের ব্যাকআপ প্রোফাইলটি ডাউনলোড করতে পারবেন।
ডাউনলোড হওয়ার পর জিপ ফাইলটি আনজিপ করুন। এখন index ফাইলটি ওপেন করলে আপনি আপনার ফেসবুকের পুরো প্রোফাইল (ছবি, ওয়াল, মেসেজ, ফ্রেন্ড) দেখতে পারবেন।
অ্যাকাউন্ট বন্ধ করা
আপনি যদি আর ফেসবুক অ্যাকাউন্ট ব্যবহার করতে না চান, তাহলে Account থেকে Account Settings-এ ক্লিক করুন। এখন বাঁ পাশ থেকে security-তে ক্লিক করুন। এখন সবার নিচে Deactivate your Account-এ ক্লিক করুন। নতুন পেজ এলে দেখবেন, সেখানে লেখা আছে, আপনি কেন আপনার অ্যাকাউন্টটি নিষ্ক্রিয় (deactivate) করতে চান। অনেকগুলো অপশন থেকে যেকোনো একটি নির্বাচন করে Confirm-এ ক্লিক করুন। পাসওয়ার্ড চাইলে পাসওয়ার্ড এবং নিরাপত্তা সংকেত (সিকিউরিটি কোড) চাইলে সেই কোড দিয়ে ok করুন। পুনরায় চালু (Activate) করতে চাইলে শুধু login করলেই আবার অ্যাকাউন্টটি activate হয়ে যাবে।
একেবারে স্থায়ীভাবে ফেসবুক অ্যাকাউন্ট বন্ধ করতে চাইলে https://www.facebook.com/help/contact.php?show_form=delete_account ঠিকানার ওয়েবসাইট থেকে বন্ধ করে দিতে পারবেন।
ই-মেইলে খবর আসা বন্ধ করা
ফেসবুকের সব খবর ই-মেইলেচলে আসে। আপনার কাছে Add Request, message বা আপনার wall-এ কিছু লেখে বা আপনার কোনো লেখা বা ছবিতে Comments করে, তাহলে তা আবার ই-মেইলের মাধ্যমে আপনাকে জানানো হয়। এতে দেখা যায়, প্রতিদিন ফেসবুক থেকে অসংখ্য ই-মেইল আসে, যা অনেক সময় বিরক্তিকর।
এটি থেকে মুক্তি পেতে হলে প্রথমে ওপরে ডান পাশে Account থেকে Account Settings-এ ক্লিক করুন। নতুন যে পেজটি আসবে, সেটির বাঁ পাশ থেকে Notifications-এ ক্লিক করুন। নতুন পেজ এলে ওই পেজের মধ্যে All Notifications-এর ডান পাশে দেখুন বেশ কয়েকটি Edit লেখা অপশন আছে। একটি একটি করে সেখানকার সব কটি Edit-এ ক্লিক করে সব কটি বক্স থেকে সব কটি টিক চিহ্ন তুলে দিয়ে Save Changes-এ ক্লিক করুন।
ব্যক্তিগত গোপনীয়তা
কেউ যদি ফেসবুকে আপনাকে বিরক্ত করে, যেমন—বারবার বার্তা পাঠায়, বারবার Add Request পাঠায়, তাহলে আপনি তাকে ব্লক করে দিতে পারেন। ব্লক করে দিলে সে আর আপনাকে খুঁজে পাবে না। কাউকে ব্লক করতে হলে প্রথমে ওপরে ডান পাশে Account থেকে Privacy Settings-এ ক্লিক করুন। এখন একেবারে নিচে Block Lists-এর নিচে Edit your list-এ ক্লিক করুন। নতুন পেজ এলে Name অথবা Email বক্সে কারও নাম বা ই-মেইল আইডি লিখে Block-এ ক্লিক করে তাকে ব্লক করে দিতে পারেন। অথবা কারও প্রোফাইলের নিচের দিকে বাঁ পাশে Block-এ ক্লিক করেও কাউকে ব্লক করে দিতে পারেন।
প্রোগ্রাম গোছানো
আপনি কী কী প্রোগ্রাম ইনস্টলকরেছেন, সেসব দেখতে চাইলে ওপরে ডান পাশে Account থেকে Privacy Settings-এ ক্লিক করুন। এখন একেবারে নিচে Apps and Websites-এর নিচে Edit your Settings-এ ক্লিক করুন।
নতুন পেজ এলে দেখতে পাবেন আপনি কী কী প্রোগ্রাম ব্যবহার করছেন। কোনোটি বাদ দিতে চাইলে পাশের কাটা চিহ্নে ক্লিক করে বাদ দিতে পারেন।
কতটা দৃশ্যমান হবেন
আপনাকে আপনার বন্ধুরা ছাড়া অন্য কেউ খুঁজে (সার্চ) পাবে না। এমনকি আপনার ই-মেইল ঠিকানা দিয়ে খুঁজলেও না।এমন ব্যবস্থা করতে চাইলে Account থেকে Privacy Settings-এ ক্লিক করুন। এখন ওপরে View settings-এ ক্লিক করুন। নতুন পেজ এলে Search for you on Facebook-এর ডান পাশের Everyone বাটনে ক্লিক করে Only Friends নির্বাচন করে দিন। তাহলে আপনাকে আপনার বন্ধুরা ব্যতীত অন্য কেউ খুঁজে পাবে না। এখন Send you friend requests-এর ডান পাশের Everyone বাটনে ক্লিক করে নির্বাচন করে দিন, তখন যে কেউ আপনাকে friend requests পাঠাতে পারবে।
Send you messages-এর ডান পাশের Everyone বাটনে ক্লিক করে নির্বাচন করে দিন, যে কেউ আপনাকে মেসেজ পাঠাতে পারবে।
See your friendlist-এর ডান পাশের Everyone বাটনে ক্লিক করে নির্বাচন করে দিন, তাহলে সবাই আপনার ফ্রেন্ডলিস্ট দেখতে পারবে। এভাবে বাকি সেটিংসগুলোও নিজের মতো করে তৈরি করে নিতে পারেন।
নিজের ইচ্ছামতো
আপনি আপনার ওয়ালে কোনো কিছু লিখলে বা পোস্ট করলে সেটা কে কে বা কারা দেখবে, সেটা ঠিক করে দিতে পারেন।Privacy Settings-এ গিয়ে নিচে থেকে Customize settings-এ ক্লিক করুন। এখন Posts by me-এর ডান পাশের Everyone বাটনে ক্লিক করে ঠিক করে দিন। কাস্টমাইজও নির্বাচন করতে পারেন।
কাস্টমাইজ নির্বাচন করলে নতুন একটি উইন্ডো আসবে। এখন Make this visible to বক্সে ক্লিক করে Specific People নির্বাচন করলে যাঁরা আপনার ওয়ালের পোস্ট দেখতে পারবেন, তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন (Only Me নির্বাচন করলে শুধু আপনি দেখবেন, আর কেউ দেখতে পারবে না)। যদি কিছু নির্দিষ্ট বন্ধু ছাড়া বাকি সবাই দেখতে পারবে, এমন সেটিংস করতে চান, তাহলে Hide this from বক্সে তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন। এভাবে নিচের বাকি সব কটি ঠিক করতে পারবেন। প্রোফাইল ফটো বা ছবির অ্যালবাম কে কে বা কারা দেখবে, সেটা ঠিক করার জন্য Customize settings-এ যান।এখন আপনার ছবির অ্যালবামের সেটিংস কাস্টমাইজ করার জন্য ওই পেজের মধ্যখানে Edit album privacy-তে ক্লিক করুন। এখন যে অ্যালবামটির কাস্টমাইজ সেটিংস তৈরি করতে চান, সেই অ্যালবামটির নামের নিচের বাটনে ক্লিক করে কাস্টমাইজ নির্বাচন করুন। এখন Make this visible to বক্সে ক্লিক করে Specific People নির্বাচন করে যাঁদের সঙ্গে অ্যালবামটি শেয়ার করতে চান, তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন।
যদি কিছু নির্দিষ্ট বন্ধু ছাড়া বাকি সবার সঙ্গে শেয়ার করতে চান, তাহলে Hide this from বক্সে তাঁদের নাম লিখে Save Satting-এ ক্লিক করুন। আপনাকে ট্যাগ করা ছবি বা ভিডিওটি আপনি ছাড়া আর কেউ দেখবে না। এমন ব্যবস্থা করতে হলে Customize settings পেজের মাঝখানে Photos and videos you’re tagged in-এর ডান পাশে Edit settings-এ ক্লিক করে Who can see photos and videos I’m tagged in-এর ডান পাশে ক্লিক করে Customize নির্বাচন করে Make this visible to বক্সে ক্লিক করে Only Me নির্বাচন করে Save Satting-এ ক্লিক করুন। যাঁরা আপনার বন্ধু নয়, তাঁদের কাছে আপনার ফেসবুক প্রোফাইলটি দেখতে কেমন দেখায়, সেটি দেখতে চাইলে সবার ওপরে ডান পাশে Preview My Profile-এ ক্লিক করুন।
হেল্প সেন্টার
ফেসবুক কিছুদিন পর পর তার সেটিংস পরিবর্তন করে। তা ছাড়া ফেসবুক কিছুদিন পর পরই নতুন নতুন অপশনও যোগ করে। কোনো একটা অপশন কোথায় আছে, তা ভুলে গেলে বা জানা না থাকলে ফেসবুক হেল্প সেন্টারের সাহায্য নেওয়া যায়। যেমন—আপনি যদি ভুল করে কোনো বন্ধুকে হাইট করে ফেলেন, তাহলে তাঁকে আবার আন-হাইট করবেন কীভাবে বা কোনো বন্ধুকে হাইট করবেন কীভাবে? এর উত্তর যদি জানা না থাকে, তাহলে এ জন্য প্রথমে ওপরে ডান পাশে Account থেকে Help Center-এ ক্লিক করুন। নতুন পেজ এলে How i unhide a friend? লিখে সার্চ করুন। রেজাল্ট এলে Expand All-এ ক্লিক করুন। আপনার সমাধান পেয়ে যাবেন।
অ্যাকাউন্টের নিরাপত্তা
আপনার ফেসবুকের ই-মেইল ঠিকানা, পাসওয়ার্ড যদি সবাই জেনে যায়, তাহলেও কেউ আপনার অ্যাকাউন্টে প্রবেশ করতে পারবে না। এ জন্য প্রথমে ফেসবুকে লগইন করে ওপরে ডান পাশের Account থেকে Account Settings-এ ক্লিক করুন। এখন বাঁ পাশ থেকে security-তে ক্লিক করুন। নতুন পেজ এলে Login Notifications-এর ডান পাশে Edit-এ ক্লিক করুন। Email-এর পাশের বক্সে টিক চিহ্ন দিয়ে Save Changes-এ ক্লিক করুন। এখন Login Approvals-এর ডান পাশে Edit-এ ক্লিক করে Require me to enter a security code sent to my phone বক্সে টিক চিহ্ন দেওয়ার সময় নতুন বার্তা এলে Set Up Now-এ ক্লিক করুন। এখন Phone number : বক্সে আপনার মোবাইল নম্বর লিখে Continue-তে ক্লিক করুন। আপনার মোবাইলে একটি কোড নম্বর আসবে। কোড নম্বরটি কোড বক্সে লিখে Continue-তে ক্লিক করুন। তারপর Save Changes-এ ক্লিক করুন। এখন ফেসবুক অ্যাকাউন্ট লগআউট করে পুনরায় ফেসবুকে লগইন করুন। দেখবেন, Name New Computer নামের একটি পেজ এসেছে। সেখানে Computer name বক্সে কোনো নাম লিখে Add to your list of recognized devices বক্সে টিক চিহ্ন দিয়ে Continue-তে ক্লিক করুন।
এখন থেকে প্রতিবার আপনার কম্পিউটার ব্যতীত অন্য কারও কম্পিউটার থেকে আপনার ফেসবুক অ্যাকাউন্টে লগইন করতে চাইলে আপনার মোবাইলে একটি কোড নম্বর আসবে এবং সেই কোড নম্বরটি কোড বক্সে লিখে Continue-তে ক্লিক করলেই কেবল আপনার ফেসবুক অ্যাকাউন্টে প্রবেশ করা যাবে। কাজেই আপনার ফেসবুকের পাসওয়ার্ড সবাই জানলেও কেউ আপনার ফেসবুকে লগইন করতে পারবে না, যতক্ষণ পর্যন্ত না আপনার মোবাইলে আসা কোড নম্বরটি কোড বক্সে প্রবেশ করানো হবে। আপনার ই-মেইলে একটি মেইল যাবে, যেটাতে লেখা থাকবে কে, কখন, কী নাম দিয়ে, কোন আইপি ঠিকানা থেকে আপনার ফেসবুকে প্রবেশ করেছিল।
মোবাইল নম্বর যোগ করা
ফেসবুকে মোবাইল ফোন নম্বর যোগ করলে আপনার ফেসবুক অ্যাকাউন্ট যদি কখনো চুরি হয়ে যায়, তাহলে মোবাইল নম্বর দিয়ে তা উদ্ধার করতে পারবেন। আবার আপনি ইচ্ছা করলে ফেসবুকের খবর বা নোটিফিকেশনসগুলোও মোবাইল ফোনে পেতে পারেন বিনা মূল্যে। এ জন্য প্রথমে ওপরে ডান পাশের Account থেকে Account Settings-এ গিয়ে বাঁ পাশ থেকে Mobile-এ ক্লিক করুন। এখন Add a Phone লিংকে ক্লিক করুন। নতুন উইন্ডো এলে Mobile Carrier : এ বাংলালিংক, সিটিসেল, গ্রামীণফোন, এয়ারটেল বা রবি নির্বাচন করে Next-এ ক্লিক করুন। আপনার মোবাইল নম্বরটি আপনার ফেসবুক প্রোফাইলে যোগ করতে না চাইলে Add this phone number to my profile বক্স থেকে টিক চিহ্নটি তুলে দিন। আপনার মোবাইল থেকে F লিখে 32665-এ মেসেজ দিন। ফিরতি মেসেজে আপনার কাছে একটি কোড নম্বর আসবে, সেটি কোড বক্সে লিখে Next-এ ক্লিক করুন।
প্রোফাইল সেটিংস
আপনার Profile-এ ক্লিক করে ওপরে আপনার নামের নিচে Edit Profile-এ ক্লিক করে বাঁ পাশ থেকে Basic Information, Profile picture, Friends and Family, Education and work, Contact Information ইত্যাদিতে ক্লিক করে মনের মতো করে তথ্য যোগ করতে পারেন।
Thursday, August 25
Govt sets up company for infrastructure fund
Star (August 25, 2011)
The government has established the largest ever finance company with a Tk 1,600 crore ($217 million) paid-up capital to fund infrastructure projects.
Authorised capital of the company titled Bangladesh Infrastructure Finance Fund Ltd (BIFFL) is Tk 10,000 crore ($1.5 billion), which is also the highest in Bangladesh.
Grameenphone is the second biggest company with a Tk 1,350.30 crore paid-up capital followed by Islami Bank with Tk 1,000 crore.
“We have applied to the Bangladesh Bank to issue the BIFFL a licence as a non-bank financial institution,” said Mohammad Muslim Chowdhury, director and acting chief executive officer of the newly formed company.
“It will take around six months to start operation of the company,” said Chowdhury, also a joint secretary of the finance division.
The BIFFL was registered as a public limited company with the Registrar of Joint Stock Companies and Firms. The company has already been allocated money and office (former tax ombudsman's office) and recruitment for different posts is under process.
The new company would be the second non-bank financial institution owned fully by the government after Infrastructure Development Company Ltd. There are 28 other non-banks under the private sector.
Although the government initiated public-private partnership in its budget for fiscal 2009-10 to develop the country's infrastructure and allocated Tk 3,000 crore in that budget, it failed to initiate any funding under the PPP.
According to officials, the BIFFL has been paid Tk 1,600 crore from the PPP fund so that the idea could see some results.
“I believe the BIFFL will bring in new dimensions in financing PPP projects and help achieve the vision of the government,” said the application written by Chowdhury to the BB for a licence.
However, some government officials who are closely involved with the formation of the BIFFL are unsure of how such a big fund should be managed by a new company.
But an official of the finance ministry, which will govern the BIFFL, has dispelled such confusions, saying, “We are thinking about outsourcing a fund manager to help the new company work.”
The government has established the largest ever finance company with a Tk 1,600 crore ($217 million) paid-up capital to fund infrastructure projects.
Authorised capital of the company titled Bangladesh Infrastructure Finance Fund Ltd (BIFFL) is Tk 10,000 crore ($1.5 billion), which is also the highest in Bangladesh.
Grameenphone is the second biggest company with a Tk 1,350.30 crore paid-up capital followed by Islami Bank with Tk 1,000 crore.
“We have applied to the Bangladesh Bank to issue the BIFFL a licence as a non-bank financial institution,” said Mohammad Muslim Chowdhury, director and acting chief executive officer of the newly formed company.
“It will take around six months to start operation of the company,” said Chowdhury, also a joint secretary of the finance division.
The BIFFL was registered as a public limited company with the Registrar of Joint Stock Companies and Firms. The company has already been allocated money and office (former tax ombudsman's office) and recruitment for different posts is under process.
The new company would be the second non-bank financial institution owned fully by the government after Infrastructure Development Company Ltd. There are 28 other non-banks under the private sector.
Although the government initiated public-private partnership in its budget for fiscal 2009-10 to develop the country's infrastructure and allocated Tk 3,000 crore in that budget, it failed to initiate any funding under the PPP.
According to officials, the BIFFL has been paid Tk 1,600 crore from the PPP fund so that the idea could see some results.
“I believe the BIFFL will bring in new dimensions in financing PPP projects and help achieve the vision of the government,” said the application written by Chowdhury to the BB for a licence.
However, some government officials who are closely involved with the formation of the BIFFL are unsure of how such a big fund should be managed by a new company.
But an official of the finance ministry, which will govern the BIFFL, has dispelled such confusions, saying, “We are thinking about outsourcing a fund manager to help the new company work.”
FATF asks govt to revise its action plan on money laundering
Express (August 25, 2011)
The Financial Action Task Force (FATF) on money laundering has asked the government to revise its action plan on combating money laundering.
The government earlier submitted a plan to the Task Force and Asia Pacific Group (APG) on money laundering.
President of FATF, Giancarlo Del Bufalo, in a recent letter to Finance Minister AMA Muhith underlined the need for bringing about the reforms latest by October, this year.
The letter outlined six specific actions for the government.
The actions relate to the need for identifying money laundering and terrorist financing as serious criminal activities, establishing and implementing adequate procedures to identify and freeze terrorist assets, implementing adequate procedures for the confiscation of funds related to money laundering, ensuring a fully operational and effectively functioning Financial Intelligence Unit, improving suspicious transaction reporting requirements and improving international cooperation.
The Financial Action Task Force (FATF) is an inter-governmental body working for the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing. The Task Force is, therefore, a "policy-making body" which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
The government in June, 2010 submitted an Action Plan to FATF outlining its desire to tighten the money laundering and terrorist financing.
The Ministry of Finance (MoF) has, accordingly, initiated move to amend the current anti-money laundering Act and formulate regulations to plug the holes used for terrorist financing, a high official in the ministry said.
Meanwhile, the APG has recently sought clarification from the government on the rationale of offering money whitening facilities in the just concluded budget for 2011-2012. The APG believes the opportunity offered by the budget clearly demeans its effort in anti-money laundering move manifested in its action plan.
The FATF in a report in March, 2010 said Bangladesh has not yet attained the international standard in containing money laundering and terrorist financing activities.
The Action Plan of the government vowed to introduce online reporting system to make the Financial Intelligence Unit of BB more effective, undertake efforts to obtain the membership of Egmont Group and strengthen monitoring in the NGO Affairs Bureau, Securities and Exchange Commission and Post Office Department to combat money laundering and terrorist financing.
In response to mounting concern over money laundering, the Financial Action Task Force on Money Laundering (FATF) was established by the G-7 Summit that was held in Paris in 1989. Recognising the threat posed to the banking system and to financial institutions, the G-7 Heads of State or Government and President of the European Commission convened the Task Force from the G-7 member states, the European Commission and eight other countries.
Officials in the MoF said they will soon convene meeting of Coordination Council on Money Laundering to review the entire situation based on the latest position of FATF and APG.
They said a Statutory Regulatory Order (SRO) will soon be issued by the revenue board on investing black money in bond and capital market. The SRO will clarify that other than income tax department other organisations of the government like Bangladesh Bank or Anti-corruption Commission could ask questions on source of money invested in two areas.
The Financial Action Task Force (FATF) on money laundering has asked the government to revise its action plan on combating money laundering.
The government earlier submitted a plan to the Task Force and Asia Pacific Group (APG) on money laundering.
President of FATF, Giancarlo Del Bufalo, in a recent letter to Finance Minister AMA Muhith underlined the need for bringing about the reforms latest by October, this year.
The letter outlined six specific actions for the government.
The actions relate to the need for identifying money laundering and terrorist financing as serious criminal activities, establishing and implementing adequate procedures to identify and freeze terrorist assets, implementing adequate procedures for the confiscation of funds related to money laundering, ensuring a fully operational and effectively functioning Financial Intelligence Unit, improving suspicious transaction reporting requirements and improving international cooperation.
The Financial Action Task Force (FATF) is an inter-governmental body working for the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing. The Task Force is, therefore, a "policy-making body" which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
The government in June, 2010 submitted an Action Plan to FATF outlining its desire to tighten the money laundering and terrorist financing.
The Ministry of Finance (MoF) has, accordingly, initiated move to amend the current anti-money laundering Act and formulate regulations to plug the holes used for terrorist financing, a high official in the ministry said.
Meanwhile, the APG has recently sought clarification from the government on the rationale of offering money whitening facilities in the just concluded budget for 2011-2012. The APG believes the opportunity offered by the budget clearly demeans its effort in anti-money laundering move manifested in its action plan.
The FATF in a report in March, 2010 said Bangladesh has not yet attained the international standard in containing money laundering and terrorist financing activities.
The Action Plan of the government vowed to introduce online reporting system to make the Financial Intelligence Unit of BB more effective, undertake efforts to obtain the membership of Egmont Group and strengthen monitoring in the NGO Affairs Bureau, Securities and Exchange Commission and Post Office Department to combat money laundering and terrorist financing.
In response to mounting concern over money laundering, the Financial Action Task Force on Money Laundering (FATF) was established by the G-7 Summit that was held in Paris in 1989. Recognising the threat posed to the banking system and to financial institutions, the G-7 Heads of State or Government and President of the European Commission convened the Task Force from the G-7 member states, the European Commission and eight other countries.
Officials in the MoF said they will soon convene meeting of Coordination Council on Money Laundering to review the entire situation based on the latest position of FATF and APG.
They said a Statutory Regulatory Order (SRO) will soon be issued by the revenue board on investing black money in bond and capital market. The SRO will clarify that other than income tax department other organisations of the government like Bangladesh Bank or Anti-corruption Commission could ask questions on source of money invested in two areas.
BB puts on hold decision about new private banks
Express (August 25, 2011)
The board of directors of Bangladesh Bank (BB) has kept in abeyance a proposal to issue lincences for new private commercial banks (PCBs), officials said Wednesday.
The decision came at a meeting, held in the central bank Wednesday with the Bangladesh Bank (BB) Governor Atiur Rahman in the chair.
"The issue has been discussed but no decision was taken at the meeting," a BB senior official told the FE, adding that the central bank has provided a study report, along with the existing Bangladesh Bank Order and Bank Company Act 1991, to the directors for taking a concrete decision in this connection.
"The Board may take a final decision on setting up of new commercial banks in its next meeting which will he held next month," the central bank official stated.
The central bank has placed a study report to its Board meeting seeking a decision on issuing new lincences for setting up PCBs.
The study report was prepared, incorporating all necessary information including the growth of the country's banking industry, considering its population, another BB official said.
"The board will have to take a fresh decision on the issue as there is a bar to establishing new banks. The Board imposed the bar in 2005 considering the country's socio-economic condition," a central banker told the FE earlier.
Besides, the central bank has already finalised a fresh guideline, spelling out details that the intending sponsors will have to follow while filing applications for setting up new banks.
"We'll publish the guideline along with advertisement, inviting fresh applications from interested entrepreneurs to establish new banks, if the board gives its approval for allowing new PCBs to operate," the BB official added.
Earlier, Finance Minister AMA Muhith said issuing of licences for new banks is a "political decision" of the government, by-passing the reservation of the central bank over the move, in view of the country's banking sector being already "over-saturated".
"It is our political decision to issue licences for new banks in the country, despite reservation made by the BB," Mr. Muhith told economic reporters in Dhaka on July 24 last at a post-budget discussion on challenges of the new fiscal year.
Asked then whether the decision is aimed at favouring political leaders, the minister said, "it might be".
"We'll be guided by our board," BB Governor Atiur Rahman told reporters on July 30 last while replying to a query relating to the government's political decision to issue licences for new banks.
On June 29 last, the finance minister told Parliament that the government would invite applications from entrepreneurs willing to establish new banks and life insurance companies.
Currently, a total of 47 commercial banks are in operation in Bangladesh.
The board of directors of Bangladesh Bank (BB) has kept in abeyance a proposal to issue lincences for new private commercial banks (PCBs), officials said Wednesday.
The decision came at a meeting, held in the central bank Wednesday with the Bangladesh Bank (BB) Governor Atiur Rahman in the chair.
"The issue has been discussed but no decision was taken at the meeting," a BB senior official told the FE, adding that the central bank has provided a study report, along with the existing Bangladesh Bank Order and Bank Company Act 1991, to the directors for taking a concrete decision in this connection.
"The Board may take a final decision on setting up of new commercial banks in its next meeting which will he held next month," the central bank official stated.
The central bank has placed a study report to its Board meeting seeking a decision on issuing new lincences for setting up PCBs.
The study report was prepared, incorporating all necessary information including the growth of the country's banking industry, considering its population, another BB official said.
"The board will have to take a fresh decision on the issue as there is a bar to establishing new banks. The Board imposed the bar in 2005 considering the country's socio-economic condition," a central banker told the FE earlier.
Besides, the central bank has already finalised a fresh guideline, spelling out details that the intending sponsors will have to follow while filing applications for setting up new banks.
"We'll publish the guideline along with advertisement, inviting fresh applications from interested entrepreneurs to establish new banks, if the board gives its approval for allowing new PCBs to operate," the BB official added.
Earlier, Finance Minister AMA Muhith said issuing of licences for new banks is a "political decision" of the government, by-passing the reservation of the central bank over the move, in view of the country's banking sector being already "over-saturated".
"It is our political decision to issue licences for new banks in the country, despite reservation made by the BB," Mr. Muhith told economic reporters in Dhaka on July 24 last at a post-budget discussion on challenges of the new fiscal year.
Asked then whether the decision is aimed at favouring political leaders, the minister said, "it might be".
"We'll be guided by our board," BB Governor Atiur Rahman told reporters on July 30 last while replying to a query relating to the government's political decision to issue licences for new banks.
On June 29 last, the finance minister told Parliament that the government would invite applications from entrepreneurs willing to establish new banks and life insurance companies.
Currently, a total of 47 commercial banks are in operation in Bangladesh.
Wednesday, August 24
Green Delta bags WorldCoB Award
Express (August 24, 2011)
Green Delta Insurance Company Ltd has won the World Confederation of Business (WorldCoB) Award 2011 for its leadership, excellence in management, quality and marketing.
Nicolas Caffaro, director of WorldCoB, USA handed over the award to the company's Managing Director & Chief Executive Officer Nasir A Choudhury Tuesday in a programme held in the city.
Insurance Development and Regulatory Authority Actuary Shefaque Ahmed attended the programme as the chief guest and Chairman of Green Delta Insurance AQM Nurul Absar was also present at the ceremony.
"The prestigious award is the testimony to a positive and promising indication for Bangladesh and South Asian corporate entities," Mr Caffaro said.
WorldCoB, USA hosts this programme every year to honour the business organizations of the world for their quality and services, he said.
Green Delta Insurance-the leading non life insurance company-has been providing services to its clients for last 25 years, Mr Choudhury said adding as recognition of its contribution to the insurance industry his company is the first ever company that has been awarded with such prestigious award.
Green Delta Insurance Company Ltd has won the World Confederation of Business (WorldCoB) Award 2011 for its leadership, excellence in management, quality and marketing.
Nicolas Caffaro, director of WorldCoB, USA handed over the award to the company's Managing Director & Chief Executive Officer Nasir A Choudhury Tuesday in a programme held in the city.
Insurance Development and Regulatory Authority Actuary Shefaque Ahmed attended the programme as the chief guest and Chairman of Green Delta Insurance AQM Nurul Absar was also present at the ceremony.
"The prestigious award is the testimony to a positive and promising indication for Bangladesh and South Asian corporate entities," Mr Caffaro said.
WorldCoB, USA hosts this programme every year to honour the business organizations of the world for their quality and services, he said.
Green Delta Insurance-the leading non life insurance company-has been providing services to its clients for last 25 years, Mr Choudhury said adding as recognition of its contribution to the insurance industry his company is the first ever company that has been awarded with such prestigious award.
Committee formed to amend Company Act, 1994
Express (August 24, 2011)
A national committee has been formed to amend the Company Act 1994 with a view to establishing transparency in the operations of businesses in the country.
Secretary to the Ministry of Commerce (MoC) Muhammed Ghulam Hossain has been made convener of the 17-member national committee. Representatives from both public and private sectors are included in the committee.
Earlier, the Parliamentary (JS) Standing Committee on Ministry of Commerce suggested drastic revision and updating of the Company Act with a view to removing its lacunas that are often exploited by vested quarters to their advantage, a senior official at the MoC said.
The MoC in 2002 and 2010 initiated the process of amending the Company Act, 1994, but failed to complete the process amid differences of opinion among the stakeholders, it is learnt.
"Keeping in mind our failures twice, the new committee has been formed with top representatives of different stakeholders," a trade official said.
"Technical and financial cooperation will be taken from Bangladesh Investment Climate Fund," he added.
The committee has been asked to submit their report latest by October this year.
Other members of the national committee include secretary for the law ministry, chairman, Securities and Exchange Commission, president, FBCCI, president, MCCI, president, Chittagong Chamber of Commerce and Industry, president, Bangladesh Association of Listed Companies, president, Supreme Court Bar Association, president, Institute of Cost and Management Accountants of Bangladesh, president, Women Chamber of Commerce and Industry, chairman, Bangladesh Law Commission, an executive director of Bangladesh Bank, registrar, Joint Stock Companies and Firms and two joint secretaries of MoC.
Officials at the MoC said the age-old Company Act would be revised thoroughly to make it commensurate with the changed global and local economic perspectives. He said the amendment to clauses singled out for receiving top priority are alteration of Memorandum of Articles of Association of a company, power of court when confirming alteration, exercises of discretion by court, procedure on confirmation of the alteration, effects of failure to register within extended time, procedures of holding annual general meeting (AGM), penalty for default in complying with formalities in holding AGM and revision of the rates of different fees now applicable to registered companies.
Officials in the MoC said different types of fees now realised for registration and renewal need to be doubled and clauses relating to offering of services to the private sector made easier.
Besides, the extended period for holding AGM, which is now 90 days, might be reduced to ensure transparency in the businesses. The penalty for failure to comply with the procedures for AGM, which is now Tk 10,000, should be five times higher, a committee member observed.
A national committee has been formed to amend the Company Act 1994 with a view to establishing transparency in the operations of businesses in the country.
Secretary to the Ministry of Commerce (MoC) Muhammed Ghulam Hossain has been made convener of the 17-member national committee. Representatives from both public and private sectors are included in the committee.
Earlier, the Parliamentary (JS) Standing Committee on Ministry of Commerce suggested drastic revision and updating of the Company Act with a view to removing its lacunas that are often exploited by vested quarters to their advantage, a senior official at the MoC said.
The MoC in 2002 and 2010 initiated the process of amending the Company Act, 1994, but failed to complete the process amid differences of opinion among the stakeholders, it is learnt.
"Keeping in mind our failures twice, the new committee has been formed with top representatives of different stakeholders," a trade official said.
"Technical and financial cooperation will be taken from Bangladesh Investment Climate Fund," he added.
The committee has been asked to submit their report latest by October this year.
Other members of the national committee include secretary for the law ministry, chairman, Securities and Exchange Commission, president, FBCCI, president, MCCI, president, Chittagong Chamber of Commerce and Industry, president, Bangladesh Association of Listed Companies, president, Supreme Court Bar Association, president, Institute of Cost and Management Accountants of Bangladesh, president, Women Chamber of Commerce and Industry, chairman, Bangladesh Law Commission, an executive director of Bangladesh Bank, registrar, Joint Stock Companies and Firms and two joint secretaries of MoC.
Officials at the MoC said the age-old Company Act would be revised thoroughly to make it commensurate with the changed global and local economic perspectives. He said the amendment to clauses singled out for receiving top priority are alteration of Memorandum of Articles of Association of a company, power of court when confirming alteration, exercises of discretion by court, procedure on confirmation of the alteration, effects of failure to register within extended time, procedures of holding annual general meeting (AGM), penalty for default in complying with formalities in holding AGM and revision of the rates of different fees now applicable to registered companies.
Officials in the MoC said different types of fees now realised for registration and renewal need to be doubled and clauses relating to offering of services to the private sector made easier.
Besides, the extended period for holding AGM, which is now 90 days, might be reduced to ensure transparency in the businesses. The penalty for failure to comply with the procedures for AGM, which is now Tk 10,000, should be five times higher, a committee member observed.
SEC sets uniform share face value at Tk 10 ==>> Listed firms, MFs told to do conversion by Nov 30
Express (August 24, 2011)
The securities regulator Tuesday ordered all listed companies and mutual funds to convert the face-value of their shares and units into Tk 10 each by November 30 this year, an official said.
The Securities and Exchange Commission (SEC) took the decision at its board meeting headed by its chairman M Khairul Hossain, setting the stage for trading of all shares at a uniform price from December 1 this year.
SEC Executive director M Saifur Rahman said the move aimed at ending confusion on share prices, stopping listed firms to manipulate the market with frequent changes in the face-value and safeguarding investors' interest.
"If listed companies and mutual funds fail to convert their share and unit face-value into Tk10 each by November 30, their trading will be suspended from December 1 without any prior notice," said Rahman.
He said the decision follows recommendations by the December-January share scam probe committee, which has accused some companies of spooking the market with unnecessary changes in the face-value of their shares.
The committee led by Khondaker Ibrahim Khaled advised the regulator to convert the face-value of all shares into a uniform price so as to preempt any attempt by companies to cash in on any share splitting decision.
As per regulatory decision, 137 listed companies and mutual funds, including the private AIMs First, will have to convert their face value to Tk 10 each before the SEC deadline.
Presently, the face-value of 124 companies and 12 mutual funds is Tk 100 each. The face-value of three corporate bonds is Tk 1000 and one mutual fund, AIMS First, is face-valued at taka one each.
The SEC decision won't affect 123 listed companies and mutual funds whose face-value has already been converted to Tk 10.
Mr. Rahman said the regulator has reached a "unanimous decision" on converting the face-value of all stocks. "A circular to this effect will be issued very soon," he said.
"The regulator is hopeful that all controversies on share splitting will be eliminated through the latest decision," the SEC spokesman added.
Former SEC Chairman AB Azizul Islam welcomed the regulator's new move, saying it will help stabilise the volatile stock market.
"We have seen how share splitting decision by some companies swindled investors during the heyday of the market last year," Mr Islam, also a former finance advisor of the last caretaker government, said.
"Since all the companies now have to convert their shares before the SEC-set deadline, there will be no scope for influencing their share prices," Mr. Islam told the FE.
The securities regulator Tuesday ordered all listed companies and mutual funds to convert the face-value of their shares and units into Tk 10 each by November 30 this year, an official said.
The Securities and Exchange Commission (SEC) took the decision at its board meeting headed by its chairman M Khairul Hossain, setting the stage for trading of all shares at a uniform price from December 1 this year.
SEC Executive director M Saifur Rahman said the move aimed at ending confusion on share prices, stopping listed firms to manipulate the market with frequent changes in the face-value and safeguarding investors' interest.
"If listed companies and mutual funds fail to convert their share and unit face-value into Tk10 each by November 30, their trading will be suspended from December 1 without any prior notice," said Rahman.
He said the decision follows recommendations by the December-January share scam probe committee, which has accused some companies of spooking the market with unnecessary changes in the face-value of their shares.
The committee led by Khondaker Ibrahim Khaled advised the regulator to convert the face-value of all shares into a uniform price so as to preempt any attempt by companies to cash in on any share splitting decision.
As per regulatory decision, 137 listed companies and mutual funds, including the private AIMs First, will have to convert their face value to Tk 10 each before the SEC deadline.
Presently, the face-value of 124 companies and 12 mutual funds is Tk 100 each. The face-value of three corporate bonds is Tk 1000 and one mutual fund, AIMS First, is face-valued at taka one each.
The SEC decision won't affect 123 listed companies and mutual funds whose face-value has already been converted to Tk 10.
Mr. Rahman said the regulator has reached a "unanimous decision" on converting the face-value of all stocks. "A circular to this effect will be issued very soon," he said.
"The regulator is hopeful that all controversies on share splitting will be eliminated through the latest decision," the SEC spokesman added.
Former SEC Chairman AB Azizul Islam welcomed the regulator's new move, saying it will help stabilise the volatile stock market.
"We have seen how share splitting decision by some companies swindled investors during the heyday of the market last year," Mr Islam, also a former finance advisor of the last caretaker government, said.
"Since all the companies now have to convert their shares before the SEC-set deadline, there will be no scope for influencing their share prices," Mr. Islam told the FE.
BB proposes new limit for banks' exposure to stock market
Express (August 24, 2011)
The central bank has proposed to amend the existing regulations relating to capital market investment by the country's commercial banks to minimise risks, officials said Tuesday.
Under the proposal, the commercial banks should not be allowed to invest more than 25 per cent, in any form, of their total equity capital in the share market.
A bank is now allowed to invest in capital market up to an amount, not exceeding 10 per cent of its total liabilities.
"We've taken the latest move to protect the depositors' interest," a senior official of the Bangladesh Bank (BB) told the FE, adding that the central bank has released a 32-page amendment proposal of the Bank Company Act 1991 for seeking opinions from the members of the public.
He also said any interested individual can submit his/her opinions to the general manager of Banking Regulation and Policy Department (BRPD) of the central bank through e-mail or by normal post by September 15.
"We'll submit a complete proposal incorporating the public opinions to the ministry of finance (MoF) for taking necessary measures in this connection," the central bank official added.
Currently, the banks are allowed to invest 10 per cent of their liabilities (deposits) in the share market in line with the section 26 (2) of the Bank Company Act 1991.
Under the existing rules, holding of equity share in any form should not exceed the approved limit under section 26(2) of the Bank Company Act. Additional or unauthorised amount of holding will be deducted at 50 per cent for Tier-1, generally known as core capital and 50 per cent from Tier-2, generally known as supplementary capital.
In April last, the International Monetary Fund (IMF) suggested for an amendment to the regulations relating to investment in stock market by the banks to minimise their risks.
A five-member Money and Capital Market (MCM) team of the IMF had submitted its report in this connection to the MoF and the central bank for taking necessary measures.
The central bank has estimated that if any bank invests 10 per cent of its deposits and if the share price slides by 25 per cent from its purchase price, the bank's capital adequacy ratio will decline by a minimum of 2.0 per cent.
The BB has already informed all commercial banks of the results of such stress test for taking necessary measures in this connection, another BB official said adding the IMF provided technical support for conducting stress test for the banks in 2009.
The central bank has proposed to amend the existing regulations relating to capital market investment by the country's commercial banks to minimise risks, officials said Tuesday.
Under the proposal, the commercial banks should not be allowed to invest more than 25 per cent, in any form, of their total equity capital in the share market.
A bank is now allowed to invest in capital market up to an amount, not exceeding 10 per cent of its total liabilities.
"We've taken the latest move to protect the depositors' interest," a senior official of the Bangladesh Bank (BB) told the FE, adding that the central bank has released a 32-page amendment proposal of the Bank Company Act 1991 for seeking opinions from the members of the public.
He also said any interested individual can submit his/her opinions to the general manager of Banking Regulation and Policy Department (BRPD) of the central bank through e-mail or by normal post by September 15.
"We'll submit a complete proposal incorporating the public opinions to the ministry of finance (MoF) for taking necessary measures in this connection," the central bank official added.
Currently, the banks are allowed to invest 10 per cent of their liabilities (deposits) in the share market in line with the section 26 (2) of the Bank Company Act 1991.
Under the existing rules, holding of equity share in any form should not exceed the approved limit under section 26(2) of the Bank Company Act. Additional or unauthorised amount of holding will be deducted at 50 per cent for Tier-1, generally known as core capital and 50 per cent from Tier-2, generally known as supplementary capital.
In April last, the International Monetary Fund (IMF) suggested for an amendment to the regulations relating to investment in stock market by the banks to minimise their risks.
A five-member Money and Capital Market (MCM) team of the IMF had submitted its report in this connection to the MoF and the central bank for taking necessary measures.
The central bank has estimated that if any bank invests 10 per cent of its deposits and if the share price slides by 25 per cent from its purchase price, the bank's capital adequacy ratio will decline by a minimum of 2.0 per cent.
The BB has already informed all commercial banks of the results of such stress test for taking necessary measures in this connection, another BB official said adding the IMF provided technical support for conducting stress test for the banks in 2009.
Tuesday, August 23
Five investors sued for stock market crash ==>> CMM Court issues summon after filing of cases by SEC
Express (August 22, 2011)
Chief Metropolitan Magistrate's Court Sunday summoned five big investors to appear before it by October 17 on charge of their involvement in December-January stock market crash, lawyers of the Securities and Exchange Commission (SEC) said.
Md. Rezaul Karim Reza, a lawyer of the SEC, said summon was issued after the SEC Director Mahbuber Rahman Chowdhury filed two cases against the investors following the recommendations of a probe body that was formed by the government to investigate into the causes of the stock market debacle in December-January last.
The accused investors who have been asked to appear before the court are: Abu Sadaf Md Sayeem, Abdul Mabin Molla, Syed Shiraj-ud-Doula and his wife Rasheda Akhter Maya and Habibur Rahman.
However, the SEC Chairman Professor M Khairul Hossain Sunday said more cases on December-January stock market crash may not be filed by SEC.
"Investors should not get panicked over the cases filed against the investors as there is no relation between the declining trend of the market and the regulatory measure," Mr. Hossain said.
He said the regulator would take action against anyone for any foul play, in line with the securities laws.
The SEC member (Law), Md. A. Salam Sikder said the regulator filed the cases to comply with the order of ministry of finance (MoF) in line with probe body's recommendations.
"It's nothing new but part of regulatory measures following the order of MoF. So, the investors should not be worried over such legal action," Mr. Sikder said.
The SEC lawyer Mr. Reza said the SEC filed one case against Syed Shiraj-ud-Doula and his wife Rasheda Akhter Maya and Habibur Rahman as they violated section 17 (e) (IV) of the SEC ordinance 1969, through bulk transactions.
"These shareholders artificially influenced the share market through bulk transactions," Mr. Reza told the FE.
Reza stated that these three shareholders artificially influenced the share prices of People's Leasing through bulk transactions in an effort to reap hefty profits during the period from June 30 to November 04, 2010.
He said the court summoned Abu Sadaf Md Sayeem and Abdul Mabin Molla for almost same allegations of influencing the market through serial trading.
"These two shareholders violated section 17 (e), (II) and (IV) through serial trading and creating artificial influence as well," Mr. Reza said.
The SEC lawyer told the court that these shareholders conducted serial trading from July 27 to August 19, 2010
Chief Metropolitan Magistrate's Court Sunday summoned five big investors to appear before it by October 17 on charge of their involvement in December-January stock market crash, lawyers of the Securities and Exchange Commission (SEC) said.
Md. Rezaul Karim Reza, a lawyer of the SEC, said summon was issued after the SEC Director Mahbuber Rahman Chowdhury filed two cases against the investors following the recommendations of a probe body that was formed by the government to investigate into the causes of the stock market debacle in December-January last.
The accused investors who have been asked to appear before the court are: Abu Sadaf Md Sayeem, Abdul Mabin Molla, Syed Shiraj-ud-Doula and his wife Rasheda Akhter Maya and Habibur Rahman.
However, the SEC Chairman Professor M Khairul Hossain Sunday said more cases on December-January stock market crash may not be filed by SEC.
"Investors should not get panicked over the cases filed against the investors as there is no relation between the declining trend of the market and the regulatory measure," Mr. Hossain said.
He said the regulator would take action against anyone for any foul play, in line with the securities laws.
The SEC member (Law), Md. A. Salam Sikder said the regulator filed the cases to comply with the order of ministry of finance (MoF) in line with probe body's recommendations.
"It's nothing new but part of regulatory measures following the order of MoF. So, the investors should not be worried over such legal action," Mr. Sikder said.
The SEC lawyer Mr. Reza said the SEC filed one case against Syed Shiraj-ud-Doula and his wife Rasheda Akhter Maya and Habibur Rahman as they violated section 17 (e) (IV) of the SEC ordinance 1969, through bulk transactions.
"These shareholders artificially influenced the share market through bulk transactions," Mr. Reza told the FE.
Reza stated that these three shareholders artificially influenced the share prices of People's Leasing through bulk transactions in an effort to reap hefty profits during the period from June 30 to November 04, 2010.
He said the court summoned Abu Sadaf Md Sayeem and Abdul Mabin Molla for almost same allegations of influencing the market through serial trading.
"These two shareholders violated section 17 (e), (II) and (IV) through serial trading and creating artificial influence as well," Mr. Reza said.
The SEC lawyer told the court that these shareholders conducted serial trading from July 27 to August 19, 2010
CA firms' adherence must, says SEC
Express (August 23, 2011)
Chartered Accountant (CA) firms, selected by the securities regulator to make re-valuation of the assets and liabilities of state-owned enterprises (SoEs), will have to comply with specific conditions, officials said.
The Securities and Exchange Commission (SEC) said this Sunday after it has disclosed a list of 12 CA firms selected in light of some parameters to work as valuers for the SoEs.
The SoEs, which will have to go public to comply with government's order, will appoint such firms to make re-valuation of their assets and liabilities.
The SEC said in a statement that CA firms, which will work as valuers of SoEs will have to accept commitments that they have no ownership in stock brokers, dealers and merchant banks.
The list of valuers included, Rahman Mostafa and Company, M J Abedin and Company, A Wahab and Company, Khan Wahab Shafiq Rahman and Company, Hoda Vasi Chowdhury and Company, Malek Siddiqi Wali, Ata Khan and Company, A Motin and Company, A B Shaha and Company, M R H De and Company, Saiful Shamsul Alam and Company and S F Ahmed and Company.
Earlier, a committee formulated uniform rules, regulations and standards for the government enterprises to comply with their efforts to raise funds from the stock market.
CA firms will have to follow Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting Standards (BFRS) for valuation of the SOEs.
According to the suggested rules, a SoE's fixed assets will include land, plant and machinery, buildings, intangible assets, long-term investments, inter-company balances and other fixed assets including vehicles, computers, power generating and office equipments, furniture and fixtures.
And an audit firm or its partners will not be allowed to valuate a SoE if the firm or its partners hold any position in the government-owned company.
As per rules, the valuation should be done by using definite and reliable reference prices and the SoEs' land must be valued on the current market price. Plant and machinery will be re-valued on the basis of their remaining life.
The SEC also said a firm, which has been appointed as an auditor or actuary in a SoE for the next three years, including the current year, will not be allowed to work as a re-valuer for that SoE.
Chartered Accountant (CA) firms, selected by the securities regulator to make re-valuation of the assets and liabilities of state-owned enterprises (SoEs), will have to comply with specific conditions, officials said.
The Securities and Exchange Commission (SEC) said this Sunday after it has disclosed a list of 12 CA firms selected in light of some parameters to work as valuers for the SoEs.
The SoEs, which will have to go public to comply with government's order, will appoint such firms to make re-valuation of their assets and liabilities.
The SEC said in a statement that CA firms, which will work as valuers of SoEs will have to accept commitments that they have no ownership in stock brokers, dealers and merchant banks.
The list of valuers included, Rahman Mostafa and Company, M J Abedin and Company, A Wahab and Company, Khan Wahab Shafiq Rahman and Company, Hoda Vasi Chowdhury and Company, Malek Siddiqi Wali, Ata Khan and Company, A Motin and Company, A B Shaha and Company, M R H De and Company, Saiful Shamsul Alam and Company and S F Ahmed and Company.
Earlier, a committee formulated uniform rules, regulations and standards for the government enterprises to comply with their efforts to raise funds from the stock market.
CA firms will have to follow Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting Standards (BFRS) for valuation of the SOEs.
According to the suggested rules, a SoE's fixed assets will include land, plant and machinery, buildings, intangible assets, long-term investments, inter-company balances and other fixed assets including vehicles, computers, power generating and office equipments, furniture and fixtures.
And an audit firm or its partners will not be allowed to valuate a SoE if the firm or its partners hold any position in the government-owned company.
As per rules, the valuation should be done by using definite and reliable reference prices and the SoEs' land must be valued on the current market price. Plant and machinery will be re-valued on the basis of their remaining life.
The SEC also said a firm, which has been appointed as an auditor or actuary in a SoE for the next three years, including the current year, will not be allowed to work as a re-valuer for that SoE.
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