58pc commercial banks have no guidelines for fund transfer: Report

Published: August 27, 2017 22:51:18 | Updated: October 21, 2017 19:11:47


Country's 58 per cent commercial banks have no guidelines for transferring funds within their branches while 98 per cent banks use old age system to calculate fund transfer pricing, according to a BIBM research report.


The Bangladesh Institute of Bank Management (BIBM) released the report at a seminar in Dhaka on Sunday.


Associate Professor of BIBM Md Alamgir presented the research report. BIBM Director General Dr Tawfiq Ahmad Chowdhury chaired the seminar.


According to the report, 62 per cent banks calculate fund transfer costs manually.
Again 85 per cent banks calculate fund transfer pricing by a specific committee, it said.


In the seminar, BIBM's Director (research development and consultancy) Dr Prashanta Kumar Banarjee presented another research report titled 'Sustainability Reporting Process in Banks of Bangladesh'.


It said only 7 per cent commercial banks follow Global Reporting Initiatives (GRI) guideline to prepare their sustainability reports. source – BSS

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