AB Bank Limited - News & Events

August 02, 2010
Notice to all Investment Account Holders of Arab Bangladesh Bank Foundation

NOTICE: This is a Notice to all Investment Account Holders of Arab Bangladesh Bank Foundation.

Bangladesh Bank by its letter no BRPD(R-2)651/9( Bishesh)/2009-450 dated 14 October 2009 has issued a directive that Arab Bangladesh Bank Foundation will close its stock broking operation and a separate subsidiary will have to be formed by AB Bank for stock broking and dealing activities subject to fulfillment of Bangladesh Bank condition's.
Bangladesh Bank has accorded its approval to the formation of such a subsidiary company of AB Bank Limited under the name and style of "AB Securities Limited" and which has been incorporated with Registrar Joint Stock Companies & Firms, Bangladesh as a private limited company being No. C 81352/09 given at Dhaka on 24 December 2009; and
The Securities & Exchange Commission (SEC) has accorded consent for transferring membership of Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) from Arab Bangladesh Bank Foundation to AB Securities Limited.
Pursuant to the formation of AB Securities Limited as a subsidiary of AB Bank Ltd to act as a stock broker and dealer, as given in its Memorandum of Association, Arab Bangladesh Bank Foundation hereby announces and confirms that effective from 02 August, 2010 all its operations and including but not limited to Investment Account Holders shall be taken over by AB Securities Limited.
The existing location(s), telephone and facsimile numbers and email addresses shall remain the same.
This taking over by AB Securities Limited shall not, in any way change/alter the status of any contract which has been executed between Arab Bangladesh Bank Foundation and any other party and affect any right or obligation attached therewith.
All financial instruments (Pay Order, Cheque etc.) issued by Arab Bangladesh Bank Foundation shall be honored by AB Securities Limited; and
All clients/customers of Arab Bangladesh Bank Foundation shall be treated as clients/customers of AB Securities Limited.

For any query, if necessary, please contact AB Securities Limited, BCIC Bhaban (7th Floor), 30-31 Dilkusha C/A, Dhaka-1000.

Sd/-
CEO- Current Charge
Arab Bangladesh Bank Foundation

July 16, 2010
Price Sensitive Information

Board of Directors of AB Bank Limited in an Emergency Meeting held on July 16, 2010 at 9:05 pm at the Gulshan Branch, Ventura Avenue, Plot: CWN (C) 8/B, Road: 34, Gulshan Model Town, Dhaka 1212, approved the un-audited Financial Statements for the Half Year (January-June) ended 30th June, 2010.

Financial Highlights of the Bank:

			Taka in Crore
	AB Bank Ltd (Consolidated)		AB Bank Ltd
	January - June		January - June
	2010	2009	2010	2009
Profit before Tax & Provision	468.04	257.53	422.10	254.84
Profit after Tax (PAT)	225.62	154.34	196.30	151.64
Net Asset Value (NAV)	1,244.35	808.52	1,209.07	808.52
Net Asset Value Per Share (Tk) *	388.22	252.66	377.21	252.66
Earnings Per Share (EPS) (Tk) *	70.39	48.15	61.24	47.31
Net Operating Cash Flow Per Share (NOCFPS) (Tk) *	51.69	125.79	54.01	151.07
* Represents diluted value based on paid up capital as on 16th July, 2010

Sd/-
Company Secretary

July 08, 2010
Shareholders' Information

Board of Directors of AB Bank Limited (ABBL) in it's 460th meeting held on July 08, 2010 (Thursday) at 5.15 p.m. resolved on the following:

"The Board of Directors of AB Bank Limited has decided to sponsor a Closed End Mutual Fund in the name of "AB Bank Top-100 Index Fund" to the tune of Tk.200 crore.

AB Bank Limited will subscribe 25% (i.e. Tk.50(fifty) crore) of the fund as Sponsor and the rest will be raised through pre-IPO placement and IPO subject to approval of the Securities & Exchange Commission."

Sd/-
Company Secretary

July 01, 2010
Notice Regarding Appointment of Auditors

Honourable Shareholders of AB Bank Limited are hereby informed that under Section 210 of the Companies Act, 1994, we have received 02 (two) Applications from the following Audit Firms along with Letter of Consent, expressing their intention to work as Auditors of the Bank for the year 2010 subject to approval in the ensuing 28th Annual General Meeting (AGM) of the Bank, scheduled to be held on July 15, 2010 (Thursday) at 11:00 a.m. at Bangabandhu International Conference Centre, Agargaon, Sher-e-Bangla Nagar, Dhaka:

M/s. S.F. AHMED & CO (SFACO),
Chartered Accountants
House 25, Road 13A, Block D,
Banani, Dhaka 1213

M/s. Howladar Yunus & Co,
Chartered Accountants
67, Dilkusha Commercial Area (2nd floor), Dhaka 1000

Existing Auditors, M/s. ACNABIN, Chartered Accountants has completed 3(three) consecutive years as Auditor of the Bank and as such is not eligible for re-appointment. Therefore, the shareholders will have to elect a new Audit Firm from amongst the above Auditors in the next 28th Annual General Meeting of the Bank.

Sd/-
Company Secretary

June 30, 2010
Representative Office in Yangon, Myanmar

We are pleased to inform that Bangladesh Bank has approved on June 29, 2010, the Re-opening of Representative Office of AB Bank Limited in Yangon, Myanmar.

By order of the Board
Sd/-
Company Secretary

June 16, 2010
AB Bank awarded 'International Quality Summit Award' in Platinum Category

Mr. Jose E. Prieto, President and CEO of Business Initiative Directions (BID) handed over the 'International Quality Summit Award' in Platinum Category to Mr. Kaiser A. Chowdhury, President & Managing Director of AB Bank Limited.

AB Bank received the prestigious 'International Quality Summit Award' in Platinum Category for its 'Commitment to Quality, Leadership, Technology and Innovation' from Business Initiative Directions (BID), an organization based in Madrid, Spain.

BID is currently the most important private organization in the world which has been presenting Awards to companies all over the world for achievement in Quality and Excellence since 1975. BID searches for the participation of the greatest number of companies possible, with a voting process in which 178 countries around the world participated this year. The organization is dedicated to the promotion of quality culture in commercial organizations across the world.

The award recognizes the commitment that the AB Bank has made with quality, business results, customer satisfaction, as well as the improvement of the relations with the employees, providers or anyone linked to the company.

At the recently held BID International Quality Award Convention in New York, Mr. Jose E. Prieto, President and CEO of BID handed over the award to Mr. Kaiser A. Chowdhury, President & Managing Director of AB Bank Limited. The coveted Platinum Award, which represents success for Bangladesh in business world, will enhance the opportunity for AB Bank to improve its position in the international market.

The Grand Award Ceremony was attended by reputed companies from different continents, together with leaders from various business entities, professionals from the worlds of Economics, Architecture, Engineering, Arts and Quality Experts as well as Academic Personalities and representatives from the Diplomatic community.

June 16, 2010
AB Bank, Citycell ink remittance agreement

AB Bank Ltd., country’s leading financial institution signed a Remittance Service Agreement with Pacific Bangladesh Telecom Limited, one of the pioneer mobile communications company and the only CDMA mobile operator in the country.

Mr. Kaiser A. Chowdhury, President and Managing Director of AB Bank and Mr. Mehboob Chowdhury, Chief Executive Officer, Pacific Bangladesh Telecom Limited signed the Agreement on behalf of their respective organization. Other senior executives of both the organizations were present during the event.

Under this agreement, Pacific Bangladesh Telecom Limited Customer Care Points will serve as disbursement centers for inward remittances throughout the country particularly through their 512 CCPs (Customer Care Points) in the course of time, for the Bangladeshi residents residing abroad. The agreement will substantially increase the flow of inward remittance through AB Bank from Bangladeshi expatriates and support AB Bank’s efforts to receive inward remittances from Non-Resident Bangladeshis through official channels and prevent money laundering.

June 16, 2010
CRAB has affirmed 'AA3' rating in the long term and 'ST-1' rating in the short term

Credit Rating Agency of Bangladesh (CRAB) has affirmed 'AA3' rating in the long term and 'ST-1' rating in the short term to AB Bank Limited for the year ended December 31, 2009 (based on audited financials).

Entity Rating June 2009	Entity Rating December 2009	Definition
Long Term	Long Term	Bank rated AA3 in the long term belong to "Very strong capacity & Very high quality" cohort. Bank has very strong capacity to meet their financial commitments. Bank is judged to be of high quality and is subject to low credit risk.
AA3	AA3
Short Term	Short Term	Bank rated ST-1 in the short term is considered to have highest capacity for timely payment of obligations. Bank is characterised with excellent position in terms of liquidity, internal fund generation, and access to alternative sources of funds.
ST-1	ST-1
Date of Rating		15 June, 2010

By order of the Board
Sd/-
Company Secretary

June 15, 2010
Special Notice

Dear Customers,

We would like to inform you that due to election of Chittagong City Corporation on June 17, 2010, all AB Bank branches located in Chittagong Metropolitan Area (Agrabad, CDA, Kulshi, Bahaddarhat, Jubilee Road, Khatungonj, EPZ, Port Connecting Road, Anderkilla, Station Road, Pahartoli & Chawk Bazar) will remain closed.

As a result online transaction with these branches will remain suspended on Thursday, June 17, 2010.

Thank you for your cooperation.

Management of AB Bank Limited

June 13, 2010
Shareholders' Information

Further to AB Bank Limited's Price Sensitive Notification dated February 28, 2010 regarding investment in the Equity of the proposed Amana Bank Limited (ABL), the first Islamic Bank venture in Sri Lanka, we would like to inform that Bangladesh Bank vide it's letter No. BRPD(M)200/21/2010/247 dated 13.06.2010 has accorded its approval to AB Bank Limited for investment of 15% in the Equity of ABL.

By order of the Board
Sd/-
Company Secretary

May 23, 2010
Notice of the 28th (Twenty-Eighth) Annual General Meeting

Notice is hereby given that the 28th (twenty-eighth) Annual General Meeting (AGM) of AB Bank Limited will be held on July 15, 2010 (Thursday) at 11:00 a.m. at the Bangabandhu International Conference Centre, Agargaon, Sher-e-Bangla Nagar, Dhaka, to transact the following business:

Agenda:

1.	To receive and adopt the Directors’ Report, the Audited Accounts for the year ended 31st December, 2009 and the Auditors’ Report thereon.
2.	To declare the Dividend for the year ended December 31, 2009 as recommended by the Board of Directors.
3.	To elect Directors.
4.	To appoint Auditors for the year 2010 and fix their remunerations.

By order of the Board
Sd/-
Company Secretary

Notes:

1.	'Record date' shall be the May 20, 2010 (Thursday). Shareholders' names appearing in the Share Register of the Company or in the Depository on the 'Record Date' will be eligible to attend the AGM and will qualify for the Dividend.
2.	A Member entitled to attend and vote at the Annual General Meeting (AGM) can appoint a proxy to attend and on a poll to vote on his/her behalf. Form of Proxy duly stamped must be deposited at the Company's Registered Office not later than forty eight hours before the time fixed for the meeting and in default, Form of Proxy will not be treated as valid.
3.	Members are requested to notify change of address, if any, well in time. For BO Account holders, the same to be rectified through their respective Depository Participants.
4.	Admission into the Venue of the AGM will be allowed on production of the Attendance Slip sent with the Annual Report.
5.	Shareholders are requested to register their names in the counter at the AGM Venue from 9:00 a.m. to 11:30 a.m.

May 19, 2010
ABBF Donates Computers to Vocational Institute in Bhairob

Under the Bank’s CSR initiatives, Arab Bangladesh Bank Foundation (ABBF) donated four computers along with UPS, Printers and Computer Tables to Rajnagor Karigori & Banijjo College, Bhairob, Kishoregonj, which is the only vocational institute under the Board of Vocational Education in Bhairob Upozilla. As Computer learning has become compulsory for class XI & XII under the present academic curriculum, the college administration would be benefited by the computers given by ABBF to cope with increasing demand of computers for its students.

Additional Managing Director of the Bank, Mr. Fazlur Rahman handed over the computers & accessories to the college authority at a simple ceremony at the Rajnagar Karigori & Banijjo College premises.

May 16, 2010
Saidpur Branch Relocated

This is to inform that AB Bank Saidpur Branch has been relocated to its new premises today, May 16, 2010.

Address of the new premises of the branch is given below:

AB Bank Limited, Saidpur Branch
24, Nur Plaza (1st & 2nd floor)
Ward No. 12, Shaheed Dr. Zikrul Haque Road
Saidpur, Nilphamari

All T&T and fax numbers of the Branch will remain the same as before.

Additional Managing Director of AB Bank Mr. Fazlur Rahman officially inaugurated the new premises of Saidpur Branch. Mr. Ehsan K. Shoaib, EVP & Head of Retail Banking, Mr. Moshiur Rahman Chowdhury, EVP & Head of SME, Mr. Md. Abdul Maleque, Regional Head of North Bengal Region were also present at the opening ceremony along with other Senior Executives of the Bank.

May 13, 2010
AB Bank Chairman awarded Atish Dipankar Gold Medal 2010

AB Bank takes immense pleasure to inform that the Honorable Chairman of the Bank, Mr. M. Wahidul Haque has been awarded with the prestigious ATISH DIPANKAR GOLD MEDAL 2010. The award was given to Mr. Haque in recognition of his contributions to the overall development and long time association with the Tea Industry of Bangladesh. Mr. Haque received the award in the award giving ceremony held on May 13, 2010 at Bangabondhu International Conference Centre, Dhaka.

All of us at AB family convey our heartfelt CONGRATULATIONS to our Honorable Chairman for this remarkable achievement.

May 09, 2010
Gulshan Branch and its ATM Booth has been relocated to its new premises

This is to inform that AB Bank Gulshan Branch and its ATM Booth has been relocated to its new premises today, May 9, 2010.

Address of the new premises of the branch is given below:

Gulshan Branch
Ventura Avenue (1st & 2nd floor)
Plot No. CWN(C)-8, Road No. 34
Gulshan Model Town, Dhaka.

All T&T and fax numbers will remain the same as before.

AB Bank President & Managing Director Mr. Kaiser A. Chowdhury officially inaugurated the new premises of Gulshan Branch. Additional Managing Directors and Deputy Managing Directors of the Bank along with other Senior Executives of Corporate Head Office were also present at the opening ceremony.

May 08, 2010
Price Sensitive Information

Board of Directors of AB Bank Limited in its 458th Meeting held on May 08, 2010 at 12:00 noon approved the un-audited Financial Statements for the 1st Quarter (Jan-Mar), 2010.

Financial Highlights of the Bank:

	AB Bank Ltd (Consolidated)		AB Bank Ltd (Taka in Crore)
	January-March		January-March
	2010	2009	2010	2009
Profit before Tax & Provision	165.48	96.38	157.15	95.41
Profit after Tax (PAT)	92.37	57.36	84.04	56.40
Net Asset Value (NAV)	1,114.96	1,022.08	1,093.21	1,008.65
Net Asset Value Per Share	434.81	398.59	426.33	393.35
Earnings Per Share (EPS)	36.02	22.37	32.77	21.99
Net Operating Cash Flow Per Share (NOCFPS)	48.80	91.13	49.49	89.45

By order of the Board
Sd/-
Company Secretary

May 08, 2010
AB Exchange (UK) Limited

Bangladesh Bank has approved the setting-up of an Exchange House in the name of "AB Exchange (UK) Limited" at London, United Kingdom under 100% ownership of AB Bank Limited.

By order of the Board
Sd/-
Company Secretary

April 29, 2010
Price Sensitive Information

Board of Directors of AB Bank Limited in its 457th Meeting held on April 29, 2010 at 4:30 pm approved the Audited Financial Statement and has taken the following decisions:

A.	Audited Financial Statements Information (for the year 2009)	AB Bank Ltd. (Taka)	AB Bank Ltd. Consolidated (Taka)
	Profit before Tax & Provision	5,802,396,257	5,869,625,615
	Profit after Tax (PAT)	3,362,556,000	3,417,185,111
	Net Asset Value (NAV)	10,086,522,932	10,220,783,720
	Net Asset Value Per Share	393.35	398.59
	Earnings Per Share (EPS)	131.13	133.26
	Net Operating Cash Flow Per Share (NOCFPS)	282.13	275.02

B.	28th Annual General Meeting
	Date & Time	July 15, 2010 (Thursday) at 11:00 am
	Venue	Bangabandhu International Conference Center, Agargaon, Sher-e-Bangla Nagar, Dhaka.
C.	Recommended Dividend	Stock Divident @ 25% Cash Divident @ 20%
D.	Record Date	May 20, 2010 (Thursday)
E.	Dividend Entitlement	Shareholders' names appearing in the Share Register of the Company or in the Depository as on the 'Record Date' will be eligible to attend the AGM and will qualify for the Dividend.

By order of the Board
Sd/-
Company Secretary

April 27, 2010
Circular to the valued Customers on MICR Cheque Usages Under Dhaka Clearing House

Bangladesh Bank has already introduced Automated Clearing System from April 1, 2010 and from May 1, 2010 all banks under Dhaka Clearing House will accept only MICR cheques. We draw kind attention of our valued clients on following essential points for smooth financial transactions:

- Non-MICR cheques can be used only for cash withdrawal from the bank counters
- Please exercise cautions while receiving cheque from other person
- Do not accept Non-MICR cheque from 01 May, 2010 for clearing purpose
- For any query or information please contact your corresponding bank branch

Click here to download the instruction.

April 25, 2010
Board Meeting for Approval of Audited Financial Statements of the Bank for the year ended 31st December, 2009

As per Regulation 30 of DSE Listing Regulations, this is to inform that a Meeting of the Board of Directors of AB Bank Limited will be held on April 29, 2010 at 4.30 p.m. to transact the following business among others:

1. Approval of Audited Financial Statements of the Bank for the year ended 31st December, 2009.
2. Fixation of Date of 28th AGM, Venue, Time & other issues.

April 12, 2010
AB Bank Celebrates its 28th Founding Anniversary

Dhaka, April 12, 2010 AB Bank Limited, the first private sector commercial bank of the country celebrated its 28th founding anniversary yesterday. All of its Seventy Seven (77) domestic branches drew up simultaneous programmes to observe the day in a befitting manner. Quran Khani and Dua were held in all branches and special meal coinciding with the Bangla New Year was arranged at the orphanages in all places where the Bank operates.

Mr. M. Wahidul Haque, Chairman of AB Bank inaugurated the program at the Head Office by cutting a cake in presence of Bank’s Directors, customers, patrons and staff. Mr. Kaiser A. Chowdhury, President & Managing Director of AB Bank addressed the audience with a welcome speech.

In his speech, Mr. M. Wahidul Haque, Chairman of AB Bank Limited recalled the growth of the bank over three decades marked by offering wide range of products blended with latest technology. He observed that the Bank continues to enjoy the choice of generations and expressed the hope that through providing a secured on-line service & efficient Customer Care, the Bank will continue to retain customer’s faith & trust during the future years. The Chairman further expressed that the Bank remains firm in its commitment to continue to strive towards enhancing value for its Shareholders. The Bank is determined to participate more widely in CSR activities and play the desired role in the growth of the national economy, he added.

Mr. Kaiser A. Chowdhury in his speech stated that AB Bank provides innovative & advanced products and services with focus on Small and Medium Enterprise (SME), Women Entrepreneurs, Customer Loans, Remittance Services, Treasury Products, Structured Finance, Islamic Banking and Investment Banking.

Under Corporate Social Responsibility, AB Bank has made substantial contributions to the people affected by natural calamities. AB Bank’s assistance towards extending donations and sponsorships in aid of the community include children suffering from autism, blindness, cancer, environment etc.

The Bank has plans to introduce new products under Corporate and Retail Banking services. It has also taken up programmes to offer customized products for Non-resident Bangladeshis.The Chairman while concluding expressed his thanks & gratitude to all clients for their continued support & trust. He also expressed his thanks to all levels of the Bank’s employees for their dedicated service.

March 25, 2010
AB Bank sponsoring the exhibition- Traditional Boats of Bangladesh

The non-government organization Friendship in association with AB Bank organizing a boat exhibition tilted “Traditional Boats of Bangladesh” at the Bangladesh National Museum’s Nalinikanta Bhattashali Gallary from 23 March to 19 April, 2010. AB Bank is the main sponsor of the exhibition.

The exhibition will be displaying different aspects of traditional boats, including scale models, the building of the boats and the livelihood associated with boat-building. The exhibition has been organized to allow people to not only admire the beauty and craftsmanship of these collectable items but also to raise awareness of a heritage on its way to being lost.

To announce this exhibition, Friendship organized a press conference in the National Press Club on March 19, 2010. Among others Mr. Shamim A. Chaudhury, Deputy Managing Director AB Bank Limited, Mrs. Runa Khan, Executive Director Friendship, Mr. Tajul Majumder, Manager Taratari Shipyard and Mr. Javed Tariq, Vice President and Head of Corporate Affairs, AB Bank Limited were present in the press conference.

March 10, 2010
Notice: AB Bank Merchant Banking Wing is now AB Investment Limited

Notice

This is a notice to all Investment Account Holders both Investor’s Discretionary Account (IDA) and Bank’s Discretionary Account (BDA) and any other party of AB Bank Limited, Merchant Banking Wing

THAT:

1. Bangladesh Bank by its circular BRPD Circular No.12 dated 14 October 2009 has issued a directive that the merchant banking business of a Bank Company can only be operated through the formation of a separate subsidiary company of such a Bank Company; and

2. Bangladesh Bank has accorded its approval to the formation of such a subsidiary company of AB Bank Limited under the name and style of “AB Investment Limited” and which has been incorporated with Registrar of Joint Stock Companies & Firms, Bangladesh being No. C 81350/09 given at Dhaka on 24 December 2009; and

3. Pursuant to the formation of AB Investment Limited, AB Bank Limited hereby announces and confirms that effective from 10th March 2010, all its operations and merchant banking activities including but not limited to Investment Account Holders both IDA and BDA shall be taken over by AB Investment Limited. The existing location(s), telephone and facsimile numbers and email addresses shall remain the same.

4. This taking over by AB Investment Limited shall not, in any way, change/alter the status of any contract which has been executed between AB Bank Limited, Merchant Banking Wing and Investment Account Holders, both IDA and BDA and any other party and will also not affect any right or obligation attached herewith.

5. All Financial instruments (Pay Order, Cheque etc.) issued by AB Bank Limited, Merchant Banking Wing shall be honored by AB Investment Limited; and

6. All present Clients/customers of AB Bank Limited, Merchant Banking Wing shall be treated as clients/customers of AB Investment Limited henceforth.

For any query, if necessary, please contact AB Investment Limited, BCIC Bhaban (7th Floor), 30-31 Dilkusha C/A, Dhaka-1000.

By order of the Board
Sd/-
Company Secretary

February 28, 2010
Price Sensitive Information

Board of Directors of AB Bank Limited (ABBL) in it’s 454th meeting held on February 28, 2010 (Sunday) at 4:50 PM resolved as under:

Board of Directors of AB Bank Ltd resolved to open a new Branch in Kolkata, India and also approved remittance of additional Paid-up Capital of USD 15 million for the purpose.

Above is subject to relevant clearance and approval from the concerned regulatory authorities in Bangladesh and India respectively.

By order of the Board
Sd/-
Company Secretary

February 28, 2010
Price Sensitive Information

Board of Directors of AB Bank Limited (ABBL) in it’s 454th meeting held on February 28, 2010 (Sunday) at 4.45 PM resolved as under:

Board of Directors of AB Bank Ltd resolved in principle to invest in Equity Shares to the extent of 15% in Amana Bank Limited (ABL) which is going to be established as a Commercial Bank to carry on Islamic Banking business in Sri Lanka, in view of the synergic benefits to expand business activities.

Above is subject to satisfactory review of the due diligence of the proposition and also relevant clearances and approval from concerned regulatory authorities in Bangladesh and Sri Lanka respectively.

By order of the Board
Sd/-
Company Secretary

January 27, 2010
AB awarded MasterCard Principal Membership

Vikas Varma, Vice President for South Asia, MasterCard Worldwide awarding the Principal Membership to Kaiser A Chowdhury, President and Managing Director of AB Bank Limited

AB Bank Limited, the first private sector bank, has been granted a Principal Member license by MasterCard Worldwide for the issuance of MasterCard Credit card, Maestro Debit card and prepaid cards in Bangladesh along with license to accept of all MasterCard Cards of the world in its ATM and POS terminals.

"We are very pleased to be among the few privileged financial institutions in the world to receive the Principal Member designation, not only because it will allow us to introduce payment solutions through cards and exploring new markets, but also for the recognition from a Card Industry leader such as MasterCard", said Mr. Kaiser A Chowdhury, President and Managing Director of AB Bank.

Speaking on this occasion, Mr. Vikas Varma, Vice President, and Head of Business, South Asian Banks, MasterCard Worldwide said, "We are pleased to collaborate with AB Bank, one of the leading banks in the country. Through this collaboration, AB Bank can now offer its customers a complete range of MasterCard products that are easy, convenient, and secure. We look forward to a rewarding and fulfilling relationship with the bank in the years to come."

Mr. M. Wahidul Haque, Chairman, AB Bank Limited, Mr. Mugizhnan Sambandhamoorthy, Director, South Asia of MasterCard Worldwide and other senior executives of the bank were present in the license awarding ceremony.

January 14, 2010
New Additional Managing Directors for AB Bank Limited

Mr. M. Fazlur Rahman

Mr. M. Fazlur Rahman, FCA has been promoted to the position of the Additional Managing Director of AB Bank Limited. He has been entrusted with the responsibility of the Investment Banking Division of the Bank. Prior to this position he has served as the Deputy Managing Director of the Bank.

Mr. Rahman, FCA is a fellow of Institute of Chartered Accountants of Bangladesh & holds an MBA degree as well.

He joined AB Bank on 1st September 2002. Prior to joining AB Bank, he served in various capacities with several reputed organizations.

In his professional career Mr. Rahman attended several seminars and workshops in home and aboard.

Mr. K. A. M. Majedur Rahman

Mr. K. A. M. Majedur Rahman has been promoted as the Additional Managing Director of AB Bank Limited. He has been entrusted with the responsibility of the Business & Commercial Banking Division of the Bank. Prior to this position he has served as the Deputy Managing Director of the Bank.

Mr. Rahman’s career spans more than 27 years. He has served in various capacities at home and abroad in various banks and financial institutions like Grindlays Bank, Mashreq Bank (UAE), ANZ Bank, Standard Chartered Bank, Dhaka Bank, IPDC and as the Country Head of Bank Alfalah Limited, Bangladesh operations.

Mr. Rahman has made a significant contribution to the development of consumer banking services and automation of banking operations in Bangladesh. A culturally active person, Mr. Rahman enjoys playing golf in his leisure time.