Bangladesh Banks

17 09 2009

Central Bank of Bangladesh

Dutch-Bangla Bank – Mobile Banking in partnership with Airtel

Islami Bank– Mobile Banking in partnership with Robi

BRAC Bank – via bKash provide Mobile Banking in partnership with Robi

AB Bank

Bill proposes strict penalty for realtors

7 09 2009

The government yesterday placed a bill in parliament for enacting a law with provisions for punishing real estate developers for wrongdoings and protecting the interests of buyers and landowners.

The Real Estate Development and Management Bill 2009 is based on an ordinance, promulgated by the last caretaker government, which ceased to have effect on February 25 this year for not being ratified in parliament within the stipulated time.

Prime Minister Sheikh Hasina however announced in parliament that the ordinances, which ceased to have effect, would be placed in the House as bills for turning them into laws.

State Minister for Housing and Public Works Abdul Mannan Khan introduced the bill in the House with a provision for stern legal actions for violating the law.

The bill was sent to the parliamentary standing committee on housing and public works ministry for scrutiny. The committee has been asked to submit a report to the House within three weeks.

The state minister said the proposed law will establish trust among buyers, sellers, developers and landowners and also ensure safe investment.

“Any violation of conditions enshrined in the agreement by any party will be deemed as punishable offence,” the bill says.

According to a provision of the bill, an unregistered developer will be imprisoned for two years or fined Tk 10 lakh for advertising any property development project in the media.

The proposed law says all real estate developers have to be registered with the authorities concerned.

A developer will be awarded two years’ imprisonment or fined Tk 10 lakh for launching development works without permission of appropriate authorities.

If a developer fails to keep the promise of providing utility facilities to the developed plots in line with its prospectus, he or she will be fined Tk 5 lakh, or awarded one year’s imprisonment for failing to pay the fine.

Another provision of the bill says a developer will be imprisoned for three years or fined Tk 20 lakh or awarded both for constructing buildings in violation of the approved design.

If a developer doesn’t comply with the agreement with landowners or buyers or keeps the construction work unfinished and does not give compensation for this, it will be considered as cheating, says the law. The developer might be imprisoned for maximum two years or fined Tk 20 lakh or awarded both for cheating.

The state minister believes once the bill is turned into a law, it will contribute to the country’s development and ensure a congenial atmosphere in the real estate sector.

Meantime, State Minister for Power, Energy and Mineral Resources Mohammad Enamul Haque placed a bill for amending Bangladesh Energy Regulatory Commission Act to re-set the qualifications of candidates for chairmanship and membership of the commission.

In defence of amending the law, the state minister said there are some anomalies in the existing qualification criteria. source

Indian giants seek telecoms corridor

5 09 2009

Bangladesh can have access to an alternative submarine cable if it allows two Indian companies to build a fibre optic network to take low-cost telecommunication services to India’s seven sister states.

Indian telecom giants– Bharti Airtel and Reliance Communications–have recently submitted a joint proposal in this regard to Bangladesh Telecommunication Regulatory Commission (BTRC).

If any deal is signed, Bangladesh can use the companies undersea cable network as an alternative to lone submarine cable SEA-ME-WE-4.

Experts think that such initiative can also relieve Bangladesh from repeated disruption of undersea cable, which inflicts a huge loss to the country’s information and communication technology sector.

In line with the proposal the companies are Ready to strike a deal with any Bangladeshi fibre optic operator to provide telecom services to India’s geographically disadvantaged states: Assam, Nagaland, Tripura, Meghalaya, Manipur, Mizoram and Arunachal Pradesh.

The two companies want to build a fibre optic link to Assam from Meherpur through Kolkata-Meherpur-Dhaka-Jaflong route with an option of an alternative route through Kolkata-Meherpur-Dhaka-Comilla-Agartala.

They are also willing to bring Myanmar under their network, subject to approval of the Southeast Asian nation.

The seven northeastern states now get telecom services through VSAT (very small aperture terminal) at a high price.

Bangladesh is yet to decide on the proposal. The BTRC however views that the proposed network would serve as an alternative to Bangladesh’s lone submarine cable.

“The link if developed by a local company between India’s mainland and seven sister states might work as an alternative network for us in case of disruptions to our lone submarine cable line,” said a high official with BTRC.

“The Indian companies have already brought Pakistan, Nepal and Bhutan under their submarine cable network. If the proposal is implemented, we shall get connected with these countries and be benefited financially,” said the official.

Internet service providers have welcomed the initiative and said there is no reason to hesitate over the proposal if the Indian companies give Bangladesh some customary benefits.

“If Bangladesh can get connected with the US, there should be no problem with seven sister states,” said Akhtaruzzaman Manju, president of Internet Service Providers Association Bangladesh.

The proposed link might work as redundant submarine cable network and Bangladesh can also earn revenues, he added.

Reliance Communications having a reliable, high-capacity, integrated and convergent digital network began laying 60,000 route kilometres of a pan-India fibre optic backbone in December 2002.

The businesses at Bharti Airtel have been structured into three individual strategic business units – mobile services, Airtel telemedia services and enterprise services.

Airtel Telemedia offers broadband and telephone services in 95 cities and has recently launched direct-to-home service Airtel digital TV. source