Ctg people heave sigh of relief as Komen crossed the belt

CHITTAGONG, July 31, 2015 (BSS) - The people of the coastal belt of Chittagong heaved a sigh of relief as the cyclone Komen weakened and crossed the land near Sandwip Island without causing serious damages on Thursday midnight.

Maximum sustained wind speed was 50 to 54 km/h of the cyclone centre reached about 60 kmph to 70 kmph in gusts.
Sea remains very rough near the system centre, Meteorological Department said.

Heavy rain is continued to shower since last night in the city and its adjacent districts.
The meteorology department urged to show maritime port of Chittagong alert-3 following crossing the Komen.
Nearly one lakh people who had taken shelter in 475 cyclone shelter centres in the district have started returning to their homes, Acting Deputy Commissioner of Chittagong Mohammad Shah Reaz told BSS.
The coastal districts of Cox's Bazar, Chittagong, Noakhali, Laxmipur, Feni, Chandpur, Bhola, and their offshore islands and chars is still under alert signal number 3.

Under the influence of the cyclonic storm the low-lying areas of the coastal districts and their offshore islands and chars have been inundated by the storm surge of 3-5 feet height above normal astronomical tide.
All vessels have started to berth inside the port gradually from safer places this morning.
Port sources said limited scale of port activities resumed from 10 am today.
Chittagong Shah Amanat International Air Port sources said flight operations resumed from this morning.
The instruments and equipments of the air port which shifted to safer places yesterday has started to install again from 10 am today.

Meanwhile, all ships of the national flag carrier Bangladesh Shipping Corporation (BSC) have started to return from the outer anchorage of the Chittagong port from 10 am today.

BB vows stern action against willful defaulters

DHAKA, July 31, 2015 (BSS) - Bangladesh Bank (BB) reiterated its strong commitment of clamping down on willful defaulters by taking stern action against them to make banking sector more efficient and vibrant in credit operations.

"While the cases of the credible borrowers with potential for better businesses will be reviewed, the central bank will not hesitate to take any stern measures against the habitual defaulters and bad borrowers with a track record of persistent delinquencies", BB said in the new monetary policy statement (MPS).
Announced on Thursday, the half-yearly policy direction of the central bank referred to the findings of the BB's monitoring of nonperforming loans and the regulator's action against deliberate defaulters.

The MPS mentioned that the central bank found rise in nonperforming loans in the recent times when some of the figures of default loans were potentially alarming. BB, however, addressed those with taking corrective measures.
"Bangladesh Bank will not be lenient in this regard", the MPS said, referring that the central bank had already taken various steps to improve supervision so financial frauds can be minimized.

For instance, it said that the digital technology has been deployed to investigate big financial transactions and loans in order to stop the repetition of banking irregularities.
The BB in the MPS also mentioned that it took financial stability as a major concern and made routine stress testing exercises as diagnostic and supervisory tools to this effect.
"Bangladesh Bank and all other financial sectors, capital markets, the insurance sector, regulatory authorities in Bangladesh hold regular quarterly consultations toward policy coordination upholding financial stability", BB said.
Besides tackling the short term risks, the central bank is also playing a role of development bank, with taking various steps to fence off the country's banking and financial sectors from longer term environmental risks and inequity driven social instability risks.

"Bangladesh Bank has been one of the few forerunner central banks addressing these risks in its monetary and financial policies, promoting socially responsible inclusive and environmentally sustainable financing", the MPS said.
It further said that BB's attention towards promoting inclusive, environmentally sustainable financing is not in any way impairing its core price stabilization objective, as evident from the sustained spell of Bangladesh's inflation moderation and macroeconomic stability.

"Bangladesh Bank believes that these innovative approaches rather than indiscriminate monetary expansion are the launching pads needed for transition to Bangladesh's aspired higher growth trajectory", the MPS said.

US Envoy visits ACD in Rajshahi

RAJSHAHI, July 31, 2015 (BSS) - US Ambassador to Bangladesh Marcia Bernicat visited the head office of Association for Community Development (ACD) today.

On her arrival at the office premises ACD President Prof Chowdhury Sarwar Jahan and its executive director Salima Sarwar received her warmly.

Afterwards she held a view-sharing meeting with the ACD officials and staffs on the prevention of human trafficking and shelter homes activities.

Bernicat praised the ongoing anti-human trafficking activities and stressed the need for infusing dynamism into the preventive activities.