KFS defends M-Pesa use at Likoni channel
Wednesday May 19 2021
By PHILIP MUYANGA
Summary
The Kenya Ferry Services has defended the rollout of M-Pesa mobile money payment system at the Likoni ferry crossing channel saying it is meant to implement government guidelines to curb Covid spread.
KFS said the government issued the guidelines on measures to be adopted to mitigate severity of the Covid-19 pandemic.
The Kenya Ferry Services has defended the rollout of M-Pesa mobile money payment system at the Likoni ferry crossing channel saying it is meant to implement government guidelines to curb Covid spread.
KFS said the government issued the guidelines on measures to be adopted to mitigate severity of the Covid-19 pandemic.
Central Banking
Central Banking Newsdesk Print this page
Bangladesh’s central bank has ordered a commercial lender – owned by a controversial family business group – to cease new lending.
The central bank cited regulatory breaches and irregular lending at National Bank Ltd, according to reports in the country’s local media
Bangladesh Bank said NBL’s alleged misconduct relates to both the size of its loan portfolio and procedural irregularities. The central bank said NBL has been lending funds without the approval of its board.
Local newspaper
Proth
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BB clips National Bank’s wings
Private lender barred from lending, appointing senior executives for gross irregularities
In a rare move, the central bank has taken a raft of measures to put National Bank Ltd back on track in the wake of massive irregularities at the first-generation private lender.
The Bangladesh Bank said NBL, one of the oldest private banks in the country, would not be able to disburse fresh loans before bringing down the advance deposit ratio (ADR) to 87 per cent.
Conventional banks must maintain an 87 per cent ADR, meaning they can lend Tk 87 against every Tk 100 mobilised.
NBL has been maintaining more than 90 per cent ADR for a long time, breaching the rules, compelling the central bank to take such a decision, BB officials said.
Staff Correspondent,
bdnews24.com Zainul Haque Sikder
Businessman Zainul Haque Sikder, chairman of Sikder Group and National Bank, has died at the age of 88. );
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Prime Minister Sheikh Hasina and President Abdul Hamid have mourned the businessman.
Zainul left his footprint in several sectors, such as banking and insurance, power, economic zones, aviation, housing, healthcare and education, with the activities of Sikder Group.
The companies under the group include Power Pack Ports, Power Pack Economic Zone, Sikder Insurance, Power Pack Holdings, Sikder Real Estate and Multiplex Holdings.
He established several medical colleges as well as universities. English daily the Bangladesh Post is a publication of Sikder Group.