RAK Ceramics (Bangladesh) Limited holds 16th AGM

The 16th Annual General Meeting (AGM) of RAK Ceramics (Bangladesh) Limited was held on April 20, 2015 at International Convention City (Pushpoguscho), Bashundhara, Joarshahara, Purbachal Link Road, Khilkhet, Dhaka-1229, Bangladesh. In the AGM, honorable shareholders of the Company approved 25% cash dividend for the year 2014 which was recommended by the Board of Directors, in its meeting held on February 03, 2015.

Mr. Abdallah Massad, Chairman of the Company presided over the meeting.

Mr. S.A.K. Ekramuzzaman-Managing Director, Mr. Khaled Abdulla Yousef Abdulla Aal Abdulla-Director, Mr. Promod Kumar Chand- Director, Barrister Rafique-ul-Huq- Independent Director, Mr. Wassim Moukahhal- Independent Director, Mr. Imtiaz Hussain-Chief Executive Officer, Mr. Abhijit Chakraborty- Chief Financial Officer, Mr. Margub Kabir- Legal Advisor, and representatives of Statutory Auditor of the Company were also present among others.

Mr. Muhammad Shahidul Islam, FCS, Company Secretary conducted the 16th Annual General Meeting (AGM) of the Company. (Source: Press Release)

Pragati Life signs group insurance agreement with LankaBangla Finance Limited

Pragati Life Insurance Limited has signed Group Insurance contract with LankaBangla Finance Limited.  Md. Jalalul Azim, CEO of Pragati Life and Mohammed Nasir Uddin Chowdhury, Managing Director of LankaBangla Finance signed the contract on behalf of their respective organizations.

Under the contract Pragati Life will provide Group Insurance coverage to the employees of LankaBangla Finance Ltd. K.M. Zahid Uddin, Addl. Managing Director; Md. Rafiqual Alam Bhuiyan, Senior GM; Mir Md. Shafiul Alam Kamol, Sr. AGM of Pragati Life Insurance and Khwaja Shahriar, Deputy Managing Director; Mostafa Kamal, SVP; Md. Shariful Islam Mridha, Head of HR of LankaBangla Finance and other officials of both the organizations were present at the signing ceremony. (Source: Press Release)

Grameenphone’s 18th AGM held

The 18th Annual General Meeting (AGM) of Grameenphone Ltd. was concluded successfully at the Bashundhara Convention Center today.

Chairman of Grameenphone Board, Sigve Brekke and Grameenphone CEO, Rajeev Sethi were present on the occasion, along with other Board members and senior officials of the company. The AGM was conducted by the Company Secretary, Hossain Sadat.

The Chairman thanked the shareholders for their trust on the company and briefly talked about growth potential in Bangladesh telecom sector, regulatory uncertainties, GP’s ambition to provide Internet for All etc., while the CEO mainly highlighted the operational & financial performance of the company and successful 3G rollout, in their respective speeches.  

Speaking about the proposed spectrum auction the chairman said, “We are still expecting that the upcoming auction for the 1800 MHz spectrum band would be made technology-neutral, and the auction guideline condition that excludes Grameenphone will be rescinded to allow GP to participate. However, the investor’s decision not to commit to any new auction until resolution of the long-pending issues, such as SIM replacement tax claim, Tech neutrality, National Telecom Policy revision etc. still stands.”

GP has paid 95% Interim Dividend (Cash) during 2014. The Board of Directors also recommended 65% Final Dividend (Cash) making a total dividend of 160% of the paid-up capital (i.e. BDT 16 per share) for the year 2014. The shareholders approved the above total dividend for the year 2014. GP will run fast-track on-line dividend distribution towards its shareholders in keeping its promises following the practices of earlier years. 

The other activities of the AGM were adoption of the Directors’ Report and Auditors’ Report together with the Audited Financials 2014, election/re-election of the Directors and appointment of Auditors. 

This was the 6th AGM for the company since it become a listed company in 2009. 

About Grameenphone Ltd.

Grameenphone, part of the Telenor Group, is a leading telecommunications service provider in Bangladesh with more than 51 million subscribers. Since its inception in 1997, Grameenphone has built the largest cellular network in the country, covering nearly 99 percent of the country's population. With its brand promise to enable customers to “Go beyond”, Grameenphone seeks to help customers get the full benefit of mobile data and voice services and provide Internet For All. Grameenphone is listed on the Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.  www.grameenphone.com :  www.facebook.com/grameenphone. (Source: Press Release)

BRAC Bank inks deal with Rakeen Development Company

BRAC Bank has recently signed a Memorandum of Understanding (MoU) with Rakeen Development Company (BD) Ltd. at BRAC Bank Head Office for financing Home Loan to their customers of “Bijoy Rakeen City” project.

Under the agreement, the clients referred by Rakeen now can enjoy special privileges in Home Loan from BRAC Bank while purchasing apartment from Bijoy Rakeen City. On the other hand, Rakeen will also provide special facilities for BRAC Bank’s Customers and Employees in purchasing apartment from the same project.

Mr. Firoz Ahmed Khan, Head of Retail Banking, BRAC Bank Limited, and Mr. Nehal Ahmed, Chief Marketing Officer, Rakeen Developments Company (BD) Ltd. signed the MoU on behalf of their respective organizations. (Source: Press Release)