Ashar 21, 1421 Ramadan 6, 1435 Regd. No. DA 6238 Vol 2, No 95
SATURDAY, JULY 5, 2014 | www.dhakatribune.com | SECOND EDITION
8|
WEEKEND | SCHOOL POLITICS
LIFESTYLE ADJUSTMENT DURING RAMADAN
9|
16 pages plus 24-page supplement Avenue-T and 24-page weekend supplement | Price: Tk12
A SECRET KINGDOM AVENUE-T | A SHOPPER’S SHUTTLE
Rupali Bank to pay dividends
Mystery behind Ramzan killing starts unfolding n Mohammad Jamil Khan and Tazlina Zamila Khan
Central bank allegedly flouts rules to allow Rupali to do this without profit n Jebun Nesa Alo The central bank has reportedly flouted rules to allow state-owned Rupali Bank to declare a dividend although the company has not made any eligible profit last year. When other state-owned banks such as the Sonali, Janata and BASIC banks are struggling with loan scams, frauds
A bank cannot disburse dividends if it runs with capital shortfall and capital shortfalls, the Bangladesh Bank had done so only to save Rupali Bank’s face in the share market, said a highly placed source. Documents show that the 15% dividend that Rupali announced during its last month’s annual general meeting (AGM), comprised of full bonus shares and not a penny of cash incentive. The source, who is a senior executive at the central bank, said the fact that the bank had been allowed to share profit without actually making any, would only misguide shareholders, who would lose out if they made
more investments in Rupali shares. Existing rules suggest that banks require to compare their actual provisions with expected losses such as bad debts and asset depreciations. Any provisional shortfall would have to deducted from the capital base. Despite suffering a massive provision shortfall of Tk552 crore, Rupali Bank showed a Tk40 crore profit for the year ended December 2013. As of the same date, Rupali had a capital surplus of about Tk20 crore, which again is clearly not enough to cover for the huge provision shortfall, giving rise to a capital shortfall. A bank cannot disburse dividends if it runs with capital shortfall, says the Bank Company Act. Considering that Rupali is a listed company, Bangladesh Bank allowed it to show the paper profit without maintaining the shortfall amount, said the central bank senior executive. As of Thursday June 26, 2014, the bank’s shares were traded for Tk61.8. The BB senior executive said this price was absolutely overvalued considering the financial condition of the bank. Of the state-owned banks, only Rupali Bank is listed with the share PAGE 2 COLUMN 6
Germany’s Mats Hummels, left, runs for celebration after scoring the only goal against France during their 2014 World Cup quarter-finals at the Maracana stadium in Rio de Janeiro yesterday REUTERS
Hummels heads Germany into semis n AFP, Rio de Janeiro
Mats Hummels headed Germany into the World Cup’s last four as his firsthalf goal sealed a 1-0 win over France in yesterday’s quarter-final at Brazil 2014. The centre-back’s powerful 12th-minute header at Rio de Janeiro’s Maracana Stadium means Germany now face either Brazil or Colombia in Tuesday’s semi-final at Belo Horizonte. Germany produced a polished, improved display on their extra-time win
50% pharmacies unregistered n
Moniruzzaman Uzzal
Be careful where you buy your medicine from, since nearly half of the country’s pharmacies are unregistered and run by untrained professionals who sell a variety of drugs without being aware of the side effects. According to the Directorate Gen-
eral of Drug Administration (DGDA), the country has 107,357 pharmacies with valid licences (as of April 2014), including 8,329 pharmacies that were handed licences in 2013. A senior official at the DGDA, however, said the DGDA had run a survey in 2013 and found that the country had a further 100,000 pharmacies that were unregistered.
The number of pharmacies has reportedly grown tenfold since 1990, when the number of registered pharmacies was only 22,000. When asked about the actual number of unregistered pharmacies, SM Sabrina Yesmin, a drug superintendent of the DGDA, told the Dhaka Tribune that they had not added PAGE 2 COLUMN 2
over Algeria in the last 16, to constantly frustrate France’s potent attack spearheaded by Karim Benzema.
2nd Round
Details on page-15
Seven of the German squad had suffered with mild flu in the build-up as Hummels retured to take Per Mertesacker’s place at centre-back. Despite the Germans strangle-
hold on early possession, the first real chance feel to Benzema, who fired wide after seven minutes. The Germans took the lead when Hummels, back in the side after missing Monday’s win over Algeria with flu, rose highest to head Toni Kroos’ free-kick. His bullet header smashed in off the crossbar to claim his second goal of Brazil 2014 having also scored with a similar header in the 4-0 opening win over Portugal. PAGE 2 COLUMN 1 SEHRI & IFTAR TIME
Day Sehri Iftar Ramadan 6/July 5 – 6.54pm Ramadan 7/July 6 3.44am 6.54pm
A female name has widely surfaced in connection with the killing of two alleged muggers in a gunfight with the lawmen in the capital’s Motijheel area early Sunday. The woman, Rupa, reportedly ran the show by calling on the deceased, Ramzan, a Sramik League leader, with whom she had an alleged extramarital affair, and thereby ensnaring him, culminating in his death. Rupa, the sister of Khokon, another leader of Sramik League, was manipulated by her own brother, said Ramzan’s elder brother Shahjahan. He said Ramzan had a long dispute with Khokon and other leaders over the collection of toll money realised from the bus owners for parking their vehicles at Sayedabad-Homna bus terminal in the capital. Shahjahan said the killer’s name would be found if Ramzan’s mobile phone’s call list was checked. The Dhaka Tribune contacted Rupa who confirmed that she had called on Ramzan after Asr prayers on the day before his murder. “I called him for a personal reason,” said Rupa. When asked what the personal reason was, she said: “The matter is so personal that I cannot share it with anybody.” Rupa also described Ramzan as her elder brother’s friend and denied having any kind of illicit relation with him. When queried further, she disconnected the call and switched off the phone. Shahjahan said Rupa was completely aware of the whole murder plan. PAGE 2 COLUMN 6
ANNOUNCEMENT Due to some unavoidable circumstances our readers at many places in the capital did not get Friday’s issue of the Dhaka Tribune. We sincerely apologise for the inconvenience. Today’s issue contains the Weekend Tribune along with the AvenueT.