Summary Bangladesh government has allowed taking the facility of subcontractors like the Ready-Made Garments ("RMG") industry because some large industries are burdensome with a large number of export orders while the medium and small companies can not wield their resources. This facility along with the guidelines of 2019 can bring asymmetrical progress in the growth of economical development of Bangladesh.... Read More
Bangladesh Bank allowed shipping agents to charge a higher commission in the import of goods. However, the commission in the cases of export shipments is kept unchanged. The new commission will take effect from the 1st of April this year. The foreign exchange Policy Department of the central bank issued a circular to bring a number of changes in the... Read More
The Singapore International Arbitration Centre (SIAC) is pleased to announce the official release of its 2020 Annual Report. 2020 saw SIAC set a new record with 1,080 new case filings. This is the first time that SIAC’s caseload has crossed the 1000-case threshold. Of the 1,080 cases, 1,063 (98%) were cases administered by SIAC, which is also a record. The... Read More
Summary: On February 7th, 2021, Bangladesh Bank (BB), the central bank of the country declared a dividend policy for banks for 2020 in light of the challenges that the outbreak of coronavirus posed which allowed them to reward their shareholders based on the strength of the capital base. On the 24th of February 2021, the central bank stopped the non-bank... Read More
Summary: The Hon'ble High Court Division of the Supreme Court of Bangladesh has published circular no- 02-2021 dated 08-03-2021 determining the jurisdictional court for cases under article 138 of the Negotiable Instruments Act 1881. This concerns the landmark judgment in the last check case dated 18.10.2020. The judgment of the Hon'ble High Court ended the long-running discriminatory provisions in the... Read More
Summary: Bangladesh achieved an economic landmark last week when the United Nations Committee for Development Policy (CDP) recommended that the country graduate from the least-developed-country categorization that it held for the 50 years since its independence. Consequently, the Wall Street Journal (WSJ) has admired Bangladesh for the continuous economic strides it has made in recent years. It said that Bangladesh... Read More
Constructions of different public projects such as bridges, power plants, LNG terminals, roads, flyovers, railways, dams, seaports, river ports & private projects have been greatly affected by the onset of COVID-19 in Bangladesh and around the world. The progress of work has been significantly delayed for quite a few projects. In many cases, the cost of completion of work... Read More
[Source: TBS] Aiming to provide liquidity support to the capital market, the Bangladesh Securities and Exchange Commission (BSEC) will form a fund with the unpaid dividends. The fund will be run under the name of Stock Market Stabilisation Fund. The BSEC claimed that there are dividends worth Tk21,500 crore which have remained unsettled for a long time in several companies. The... Read More
source: https://ec.europa.eu [source: tbsnews] On top of the current targets for green banking, the Bangladesh Bank has set new plans for bank loan disbursements in financing green and sustainable projects. The central bank's Sustainable Finance Department (FSD) issued a circular for banks in this regard Tuesday. According to the circular, at least 2% of the previous year's net outstanding loans... Read More
The lesson learned from Covid-19 cannot be underestimated. Scientists claim that climate change has a direct link with such pandemics as it is bringing us closer to the hidden nature and historic virus. It is expected that environmental issues will get more attention at both the international and national levels. Authorities will be demanding strict compliance and more regulation... Read More
