Digital Bankign For Bangladesh.

About Agent Banking

Following the successful launch of the Mobile Banking services, DBBL realized the potential to increase customer reach by offering Agent Banking services through agents for the rural customer who does not have access to formal banking system even through Mobile Banking.
For smooth operation of Agent Banking function a separate Department in the name and style "Agent Banking Department" has been created. The Department will serve wide range of customers throughout the country by providing banking and financial services with the help of mobile telecommunication devices/ computer system/ using biometric technology. Especially for clients in remote locations, Agent Banking Department will help them deposit and withdraw funds and other admissible services at banking agents, i.e., retail outlets that turn Deposit to electronic funds and vice versa. With the help of the agent banking service customer can enjoy the convenience of banking service at any place of the country.

The following services will be covered under DBBL Agent Banking:

• Collection of small value cash deposits and cash withdrawals (ceiling should be determined by the management of the Bank from time to time in line with the guideline of central bank );
• Inward foreign remittance disbursement;
• Facilitating small value loan disbursement and recovery of loans, installments;
• Facilitating utility bill payment;
• Cash payment under social safety net programmed of the Government;
• Facilitating fund transfer (ceiling should be as per limit given by Bangladesh Bank [BB] from time to time);
• Balance inquiry; Statement inquiry
• Collection and processing of forms/documents in relation to account opening, loan application, credit and debit card application from public;
• Post sanction monitoring of loans and advances and follow up of loan recovery.
• Receiving of clearing cheque.
• Other functions like collection of insurance premium including micro‐ insurance etc.
• ATM Withdrawal
• Merchant Payment
• Fund transfer [Person to Person (P2P), Person to Business (P2B), Business to Person (B2P), Person to Government (P2G), Government to Person (G2P), Business to Government (B2G), Government to Business (G2B)]

An Agent must provide, as a minimum, cash deposit and cash withdrawal services. The agent's activities could be within normal course of banking business of the DBBL but conducted at places other than bank premises/ ATM booths. Agent must provide services in the designated business premises.

Agents are not allowed to provide the following services on behalf of the banks:

• Giving final approval of opening of bank accounts and issuance of bank cards/ cheques;
• Dealing with loan/ financial appraisal
• Encashment of cheques and
• Dealing in Foreign currency.

New Zealand reveals milk formula 1080 poison threat!

Fonterra is one of the largest dairy producers in the world

New Zealand authorities say a national farming body and dairy giant Fonterra have been sent letters threatening to poison milk formula.

Federated Farmers and Fonterra received the anonymous letters in November, said officials, along with sachets of contaminated product.
The letters appeared to be a protest over the use of the pesticide 1080 in agriculture.
PM John Key said milk formula was still safe to be consumed.
Officials said the person or group who sent the letters had threatened to carry out and publicise their threat unless New Zealand stopped using 1080 by the end of March.
At a news briefing at parliament on Tuesday, Mr Key said the news was being announced now because of increasing media enquiries.
He said there was "a low likelihood of the threat being carried out, but because of the nature of it, both the police and ministers have taken the treat seriously".
"I want to reassure parents that every step possible has been taken to respond to the threat, to ensure the ongoing safety of our food products."
He called the threat "a form of ecoterrorism, without doubt", reported the New Zealand Herald.
Police Deputy Commissioner of National Operations Mike Clement said the threat was possibly a hoax but that police were treating it as blackmail. He said a team had been investigating it since November.
"The letter writer may not have really considered the implications of their actions when this communication was drafted," he said.

 

 New Zealand PM John Key (R) and Minister for Primary Industries Nathan Guy (L) spoke to the media on Tuesday

Officials said that security measures by players in the supply chain had been significantly tightened since the threats began, and that no traces of 1080 had been found in milk formula. About 40,000 tests have been conducted on products.
"The ability for anybody to deliberately contaminate infant and other formula during manufacturing is extremely low," said Scott Gallagher, the deputy director general for the ministry for primary industries.
Fonterra chief Theo Spierings called the threat "despicable".
In a statement the company said the entire dairy industry had been targeted, but that it could assure its customers that "all of our milk and products are safe and of high quality, and our supply chain continues to be secure and world-class".

What is 1080?

• Controversial pesticide that has been used in New Zealand for decades.
• Used in large quantities to control pests like possums, rats and stoats, which are predators introduced to New Zealand and are a threat to native plants and animals.
• The government says it is biodegradable, does not build up in the food chain, can be safely applied by air, and is a cost-effective pest control. An independent parliamentary commissioner endorsed its use in 2011.
• But activists say it is a cruel practice which also kills native wildlife and pets, and have questioned its safety.

Police are appealing to the public to report anyone who had strong views about 1080 and had made threats before.
Government officials are also asking the public to step up vigilance and check packaging for signs of tampering.

New Zealand is the world's largest dairy exporter, and Fonterra products are popular in Asia, in particular China.
Fonterra faced a food scare in 2013 when it said contaminated products that could cause botulism had been exported overseas.

It was later found to have been a false alarm, but the scare led to many countries blocking imports of those particular products. China lifted its ban last October.

FBI raises reward for missing ex-FBI agent Levinson to $5 million..

Updated : March 9, 2015..

The FBI has increased its reward for information on missing American Robert Levinson from $1 million to $5 million, it announced Monday.

Levinson, a retired FBI agent, vanished after traveling to the Iranian island of Kish in March 2007 and is one of the longest-held U.S. citizens in history.

The FBI announced the reward increase on the eighth anniversary of Levinson's disappearance -- and the day before his 67th birthday.

"Levinson traveled to Kish Island, Iran, on March 8, 2007, working on behalf of several large corporations, and his whereabouts, well-being and the circumstances surrounding his disappearance have been unknown since that time," it said in a statement.

U.S. Secretary of State John Kerry issued a statement asking Iran to cooperate with the investigation into Levinson's whereabouts.

"He has spent more than 2,900 days separated from those who love him, and is one of the longest held U.S. citizens in history. Year after year, the family has endured the pain of his absence. It is time for him to come home," Kerry said.

"We remain committed to the safe return of Mr. Levinson to his family and appreciate the support and assistance from our international partners. We remain concerned about Mr. Levinson's health given his age and the length of his disappearance."

Iran's government repeatedly has said it is not holding Levinson and does not know his whereabouts. The FBI says he was in Iran as a private investigator.

But news reports in 2013 said he was working as an independent CIA contractor when he disappeared.

That prompted his family to speak out, saying they kept it quiet for years that Levinson was working for the CIA, because the U.S. government had warned them that revealing it would put him in more jeopardy.

The FBI, White House and CIA have not publicly acknowledged any connection between the CIA and Levinson.

It's unclear exactly who is holding him, but U.S. officials have said they believe he is somewhere in southwest Asia.

Whoever his captors are, in 2010 they sent a "proof of life" videotape and photographs of Levinson to his family.

In the video, he asked the U.S. government for help: "Please help me get home," a gaunt-looking Levinson said on the tape, citing his 33 years of service in the FBI as a reason for that help. The photographs showed him with a large beard...

 

Australia to send more troops to train Iraqi forces..

3 March 2015

 Australia is to significantly increase its contingent of troops training local forces in Iraq, Prime Minister Tony Abbott has announced.

Iraq  has asked for further foreign assistance in tackling the Islamic State threat

Continue reading the main story

Australia is to significantly increase its contingent of troops training local forces in Iraq, Prime Minister Tony Abbott has announced.

An additional 300 troops will be sent to the country in a joint mission with New Zealand, Mr Abbott said.
They will join the 200 special forces already in the country tasked with training the Iraqi army.
The Royal Australian Air Force joined the US-led coalition against Islamic State (IS) in Iraq in October.
 
'Death cult'
Mr Abbott said that supporting the Iraqi army in its fight against IS - which he referred to by another name, Daesh - was vital to domestic as well as international security.
The training mission was intended to take two years, he said, with a review after 12 months. He declined to say whether it would be Australia's last troop commitment in the IS conflict.
The deployment brings the total number of Australian troops in the region to 900.

"We haven't taken this decision lightly", Mr Abbott said. "Ultimately it is Iraq that must defeat the death cult Daesh, but we do not want to leave the Iraqis on their own.
"We are naturally reluctant as a peace-loving people to reach out to far-away conflicts but as we know, this

conflict has been reaching out to us for months now."

 

Islamic State fighters have seized control of towns and cities across Iraq and Syria

Mr Abbott said that about 100 Australians had joined IS in Syria and Iraq, and a further 150 were believed to support the group from home.

He said that the conflict with IS had been "reaching out to our country for months".
Defence Minister Kevin Andrews spoke after Mr Abbott, warning that "the world cannot ignore" the "brutality and depravity" of IS.

New Zealand Prime Minister John Key pre-empted the announcement last week when he revealed that New Zealand was sending 143 troops to Iraq in a joint operation with Australia.
IS militants currently control large swathes of both Iraq and Syria, having launched a major offensive in the region in June.

The training by Australian and New Zealand troops is designed to bolster Iraqi forces' ability to push back against the IS advance.
The troops will be based in Taji, a rural district north of Baghdad.

 

Australian fighter jets joined bombing raids by the US-led coalition against IS militants in October

On Monday, Australia made it a criminal offence for an Australian national to set foot in the Islamic State (IS) stronghold of Mosul without a legitimate reason such as a visit to family.

Any Australian who travels to the city could face 10 years in prison.
Similar restrictions were put in place in December making it an offence for Australian citizens to travel to the Syrian province of al-Raqqa, another IS stronghold.
Australia raised its terrorism threat level from medium to high in September, fearing attacks from Australian jihadists returning to the country.

US growth revised down to 2.2%..

Fuel prices have fallen, giving consumers more money to spend on other goods and services

Continue reading the main story..........................

US Economy

• Yellen says Fed flexible on rates
• US housing market recovery 'falters'
• Fed 'unlikely' to raise rates soon
• US retail sales fall unexpectedly

The slowdown in the US economy at the end of last year was more pronounced than previously thought, official figures have shown.

The world's largest economy grew at an annual pace of 2.2% between October and December, against a previous estimate of 2.6%, the Commerce Department said.
The downward revision was due to a slower rise in business inventory investment than previously estimated.
The US economy grew at an annual pace of 5% in the previous quarter.
The slowdown in growth from the third quarter was caused by a rise in imports and a downturn in government spending.

The second estimate of US growth is based on a more complete source of economic data.
Investors initially took the revised figure in their stride, with the Dow Jones opening unchanged, but the index slipped in afternoon trading to end the day down 0.5% at 18,133.
"The reason for the lack of concern is that the slowdown was due in part to a far smaller than previously estimated inventory build-up, in turn thought to be partly due to port strikes", said Chris Williamson, chief economist at Markit.

"The weaker stock build-up late last year bodes well for first quarter growth."
  Flexible rates
Economists are pretty upbeat about the general state of the US economy, despite the slowdown in the fourth quarter.
Consumer spending, which accounts for about 70% of economic growth, is strong, thanks in part to dramatic falls in the price of petrol, giving consumers more money to spend on other things.
Unemployment is coming down and with negative inflation, the Federal Reserve has little choice but keep interest rates at close to zero for the time being.
Earlier this week, Fed chair Janet Yellon said the US economy was improving, while the employment market remained fragile. In her twice yearly address to Congress, she said there was still a good degree of flexibility as to when rates could be increased.
Most analysts expect a rate rise some time late in the summer or in the autumn.

"India budget to boost investment"......

Indian PM Narendra Modi's government has unveiled a business-friendly budget aimed at attracting greater investment for the economy.

Finance Minister Arun Jaitley announced an unprecedented corporate tax cut, in the government's first full budget.

But he also proposed major benefits for the poor, introducing a universal social security scheme.
India will grow at a rate of more than 8% during 2015-16, a key economic report said ahead of the budget.
The growth forecast follows the country's new way of calculating GDP which has caused some confusion.
Presenting the budget in parliament Mr Jaitley said the country was growing at a strong rate, inflation was down and foreign exchange reserves were high.

"We inherited a sentiment of doom and gloom. The investment community had almost written us off. We have come a long way since then," he said.
"We have turned around the economy, dramatically restoring macroeconomic stability and creating the conditions for sustainable poverty elimination, job creation, durable double digit economic growth."
Among the major announcements made by Mr Jaitley are:

• Five "ultra mega" power projects of 4,000 megawatts (MW) will be built to ease the energy crisis
• Spending on infrastructure will be raised by $11.3bn (£7.32bn) to boost growth
• Creating a "universal social security" that would give poor Indians access to subsidized insurance and pensions
• Implementation of a uniform countrywide goods and services tax (GST) by April 2016
• Welfare money to be paid directly into people's bank accounts to eliminate corruption and wastage
• Wealth tax to be abolished and replaced by a surcharge on the super rich
• Corporate tax to be cut by 25% over next four years

Radhika Rao, an economist with DBS in Singapore told Reuters news agency that Saturday's budget was "pragmatic, wide-ranging and inclusive given the emphasis on social safety nets".
Analysts say the government's challenge will be to balance its spending with the need for fiscal restraint.
Mr Jaitley said the government would achieve its goal of cutting the fiscal deficit to 4.1% of gross domestic product (GDP) for 2014-15 from 4.5% the year before.

Budget analysis: Simon Atkinson, Editor, India Business Report
 
Some had billed this budget as being the most significant since 1991 - which effectively liberalised India's economy.

But Finance Minister Arun Jaitley's closing lines were basically admitting this was a budget lacking "Big Bang" reforms.

The devil will be in the detail as we plough through the small print.
A firm start date for a much-needed goods and services tax, billions of dollars for infrastructure and a "no surprises" lower corporate tax, strike me as the big business announcements.
Not using the low oil price as a chance to make more sweeping cuts to the vast subsidy bill could well prove to be a missed opportunity.
But if the proposals for a universal social security system ever reach fruition - offering a safety net for the hundreds of millions of India's poorest - history will surely judge that as the stand-out announcement of this much-hyped budget.