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[🇧🇩] BRAC---The Largest NGO In The World

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Short Summary: BRAC and its activities

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Remembering Sir Fazle Hasan Abed: A life fulfilled

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Fazle Hasan Abed departed this world as a fulfilled human being. SOURCE: BRAC

I first met Fazle Hasan Abed at Oxford, though our paths had briefly crossed before. At the time, he was an executive at Shell in Chattogram, a position that placed him within a distinct social circle. However, Abed had already begun to transcend those boundaries. Mutual friends, Viqar and his wife, had spoken to me about his involvement in relief efforts following the devastating cyclone of 1970. He had mobilised a group of like-minded individuals to address the crisis, which deeply impressed me. Here was a corporate executive stepping beyond his domain to directly engage with a national tragedy.

Unbeknownst to me, Abed's commitment was only deepening. When the Liberation War erupted, he made the remarkable decision to resign from Shell, relocate to London, and immerse himself in the cause. London was a hub of activity for the liberation movement, with numerous groups working under the leadership of Justice Abu Sayeed Chowdhury. The environment was fragmented, with each faction pursuing its agenda, often casting aspersions on others' motives. It was in this complex setting that I reconnected with Abed.

Abed sought me out at Oxford, accompanied by his close associate Marietta. They were actively channelling resources to those affected by the genocide in Bangladesh. His approach was twofold: immediate relief and long-term planning. Even amid the uncertainty of July-August 1971, Abed was optimistic about liberation and was already contemplating the kind of society we would want to build in a free Bangladesh.

Our discussions were speculative as the future of Bangladesh remained unclear. The economy was in disarray, and the social fabric had been torn apart by war. Yet, what stood out to me was Abed's determination to become a catalyst for change. He belonged to a new generation that sought not merely to envision transformation but to actively participate in it.

After liberation, Abed returned to Sylhet. There, he embarked on what can only be described as a revolutionary journey, immersing himself in rural Bangladesh—a stark contrast to his previous corporate life. The challenges were immense: a shattered economy, devastated communities, and a nascent government struggling to take shape. Yet, through trial and error, Abed persevered. Whether experimenting with microfinance, initiating one-room schools or rebuilding livelihoods, he was guided by a singular principle: bringing about incremental, sustainable change. His work in Sylhet laid the foundation for BRAC, which would go on to become the world's largest NGO.

Each step Abed took was original and daring. He did not merely adopt tried-and-tested methods; he invented new pathways. His approach to microfinance, for example, emerged as a pioneering model that would eventually uplift millions. Yet, not all his experiments succeeded. The deep tube-well programme, which aimed to empower the landless by enabling them to sell water to landowners, faltered due to the entrenched power hierarchies in rural Bangladesh. Still, Abed's willingness to take risks, adapt, and learn remained unshakeable.

I vividly recall his support when I sought to establish the Centre for Policy Dialogue (CPD). The idea was modest: to create a platform for public discourse and policy innovation. Abed was among the first to back the initiative, contributing generously and without hesitation. His commitment to fostering dialogue and intellectual growth was emblematic of his broader vision: encouraging systemic change through collective effort and shared knowledge.

One defining aspect of Abed's leadership was his adaptability. He understood that sustainable development required innovative, self-sustaining models rather than perpetual reliance on donor funding. He was acutely aware of shifting donor priorities and adept at aligning BRAC's initiatives with emerging trends.

An illustrative example was the one-room schoolhouse initiative. My cousin, Kaniz Fatema, was involved in this project, which drew inspiration from successful models in Pune, India. Abed strategically delayed scaling up the programme until education became a priority for the donor community. When the time was right, he secured significant investments, transforming it into a cornerstone of BRAC's work.

Abed's entrepreneurial spirit extended beyond BRAC. He understood the importance of aligning his initiatives with global trends and donor interests. When the world's focus shifted from microfinance to education in the 1990s, Abed capitalised on the moment. His one-room school project, which began as a modest experiment, grew into a cornerstone of BRAC's educational endeavours.

Abed was more than a social entrepreneur; he was a visionary leader who could have excelled in any corporate boardroom. His business acumen, coupled with an unwavering commitment to social justice, made him a transformative figure. He was a pioneer of social entrepreneurship, demonstrating that impactful change could be achieved through innovative, sustainable practices. His initiatives improved the lives of millions, not only in Bangladesh but globally.

What distinguished Abed was his relentless pursuit of fulfilment. He derived satisfaction not from wealth or accolades, but from the tangible impact of his work. By the time of his passing, Abed had touched countless lives, leaving behind a legacy of hope and progress.

In reflecting on his life, I am struck by the profound sense of accomplishment he must have felt. Fazle Hasan Abed departed this world as a fulfilled human being—a rare and extraordinary achievement. His life serves as an enduring inspiration, reminding us of the power of vision, resilience, and unwavering commitment to the greater good.

Prof Rehman Sobhan, one of Bangladesh's most distinguished economists and a celebrated public intellectual, is founder and chairman of the Centre for Policy Dialogue (CPD).​
 

BRAC Bank organises Annual Business Continuity Plan Drill 2024
FE ONLINE DESK
Published :
Dec 20, 2024 19:46
Updated :
Dec 20, 2024 19:46

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BRAC Bank has organised Annual Business Continuity Plan Drill 2024 to test and streamline its preparedness in the event of a disaster.

The daylong drill included a simulation in which critical units vital to banking operations, such as Account Services, Asset Operations, Cards Operations, Payments and Transactions, Trade Services, Treasury Operations, Finance, Agent Banking, Call Centre, among others, performed their BAU activities smoothly with minimum disruptions at that site.

According to a press release, the bank has a comprehensive Business Continuity Plan in place to ensure smooth services to customers in case of a natural calamity or elements beyond the bank's control.

A Business Continuity Plan (BCP) in banking is a framework that outlines procedures and recovery systems to help a bank continue to operate and serve customers during a disaster. A BCP aims to manage the impact of significant disruptions and resume operations within a reasonable time.

More than 100 officials from 26 departments performed several critical tasks identified as vital to bank’s business operations. As per the BCP Drill, these critical tasks would continue uninterrupted, irrespective of any catastrophic situation beyond the bank’s control.

Commenting on the BCP Drill, Ahmed Rashid Joy, Deputy Managing Director & Chief Risk Officer, BRAC Bank, said: “At BRAC Bank, we are committed to providing uninterrupted services to our valued customers in case of natural disaster. That’s why we conduct Business Continuity Plan Drill regularly to offset the risk of future service disruption. This exercise shows our commitment to serving our customers what it takes to continue service during disaster.”​
 

Tk 82 lakh stolen from BRAC Bank vault
Staff Correspondent 04 January, 2025, 23:37

Bangladesh Bank has identified Tk 82.44 lakh missing from the vault of BRAC Bank’s Chokoria branch in Cox’s Bazar.

The central bank’s inspection, conducted on December 22, revealed the shortfall between the official cash records and the actual vault balance as of December 19. This incident points to gross negligence and possible malpractice by branch staff.

In a letter addressed to BRAC Bank’s chairman, Bangladesh Bank instructed the bank to resolve the discrepancy, initiate legal proceedings against those involved, and report back within 10 days.

BRAC Bank stated that legal action had already been initiated, and part of the missing money had been recovered.

BRAC Bank identified a staff member as the primary suspect and handed him over to the police over the allegation of stealing the funds, bank officials claim

Ekram Kabir, the bank’s head of communication, said, ‘We took immediate legal action against the person involved as soon as it was identified. He has been handed over to the police. We have already recovered Tk 47 lakhs and are confident about recovering the remaining amount soon.’

All deposits are insured, ensuring no customer faces any financial loss due to this incident. Our customers have never suffered from such issues, he also claimed.

Bankers said that incidents involving missing funds from bank vaults are not new in banking sector.

In May 2024, the Anti-Corruption Commission filed a case against a cashier at Agrani Bank’s Moulvibazar branch for misappropriating Tk 28.33 lakh from the bank’s vault.

Similarly, in September 2021, Tk 19 crore reportedly went missing from the vault of Union Bank’s Gulshan branch. During a routine inspection, Bangladesh Bank uncovered the shortfall between official records and the cash stored in the vault.​
 

BRAC Bank strengthens financial operations of Sena Insurance with Advanced Cash Management Solutions
FE ONLINE DESK
Published :
Jan 05, 2025 18:04
Updated :
Jan 05, 2025 18:04

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BRAC Bank has partnered with Sena Insurance PLC, a subsidiary of Sena KalyanSangstha, to deliver a comprehensive suite of advanced cash management solutions, aimed at optimising financial operations of the insurance company.

Through this collaboration, Sena Insurance will leverage BRAC Bank’s state-of-the-art CORPnet platform—an integrated digital cash management solution that streamlines payments, collections, and reconciliation processes within a centralised system. CORPnet enables straight-through transaction processing, real-time reporting, and invoicing, while its direct debit functionality ensures seamless deposit tracking and advanced reconciliation capabilities.

Moreover, Sena Insurancewill gain access to real-time statement data, facilitating the automated delivery of transactional information fromover the counter and direct debit instructions. This feature enhances data accuracy and validation for insurance premium collections.

The bank has also signed a memorandum of understanding(MOU) with Sena Insurance regarding Bancassurance business, making Sena Insurance a potential partner in bancassurance business. The collaboration will further strengthen the partnership between Sena Insurance and BRAC Bank, bringing more depth into this relationship.

Supported by BRAC Bank’s extensive distribution network—comprising 187 branches, 74 sub-branches, Sena Insurance can efficiently manage receivables across Bangladesh. The bank’s 24/7 cash management solutions ensures uninterrupted service, enabling operational flexibility and greater efficiency.

Brig Gen Md Shafique Shamim, psc (Retd), II(Cert), ABIA, Managing Director & CEO of Sena Insurance, and Tareq Refat Ullah Khan, Acting Managing Director and CEO of BRAC Bank, signed the agreement at the bank’s head office on December 30, 2024.

Key officials from BRAC Bank present included AKM Faisal Halim, Head of Transaction Banking; A.K.M. Tareq, Senior Zonal Head, North Zone, Distribution Network; Mahabubur Rahman, Head of SME Liability & Chief Bancassurance Officer; and S.M. Alomgir Hossain, Head of Small Business (Central), SME Banking.

This strategic partnership underscores BRAC Bank’s unwavering commitment to delivering client-centric financial solutions by combining cutting-edge technology with exceptional service.​
 

BRAC Bank partners with Akij Logistics for seamless online air ticket payment
FE Online Desk
Published :
Jan 09, 2025 19:21
Updated :
Jan 09, 2025 19:21

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BRAC Bank has signed a payment gateway agreement with Akij Logistics Ltd to facilitate seamless online payment for air ticket purchases for customers holding Visa and MasterCard.

Akij Logistics will now be able to accept payments for online air ticket purchases through its official website (akijair.com) and mobile app using VISA and MasterCard, according to a media release.

Akijair.com, an online travel agency, provides complete travel services to customers, from air tickets to tour packages and more.

The partnership also enables the company to initiate refund/cancellation requests for tickets purchased through cards with faster processing time using BRAC Bank’s online Merchant Service Portal.

Leveraging the state-of-the-art Online Merchant Service Portal equipped with smart payment capabilities, BRAC Bank will extend the best-in-class services to Akij Logistics' valued customers, offering cashless payment solutions.

Md. Mahiul Islam, Deputy Managing Director and Head of Retail Banking at BRAC Bank, and Md. Fazley Houda, CEO of Akij Logistics, signed the agreement on December 29, 2024, at BRAC Bank's headquarters in Dhaka.

From BRAC Bank, Khairuddin Ahmed, Head of Merchant Acquiring; Ashraful Alam, Head of Alliance, and from AKIJ Air, Daraz Mahmud, CCO, were present.​
 


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