Honduras ratifies the United Nations Convention on International Settlement Agreements Resulting from Mediation

28/09/2021 | | International

Summary: With the deposit of the instrument of ratification, effected on 2nd September, Honduras becomes the seventh state party to the 'Singapore Convention on Mediation ' which occurred shortly before the inaugural of UNCITRAL Academy. Content: The Singapore Convention on Mediation, formally the United Nations Convention on International Settlement Agreements Resulting from Mediation which was adopted on 20 December 2018 and opened for... Read More

BSEC forms body to stop gambling with small firms

12/09/2021 | | Capital Market, Finance

Summary: The stock market regulator formed a three-member committee to report on the small capital companies within the next 30 working days. Content:  The stock market regulator is trying to assist the companies with small capital. For example, in 2018, they have given approval to a set of laws that will allow businesses with a paid-up capital of Tk 5 crore to... Read More

Bangladesh got the membership of NDB

12/09/2021 | | Banking, Finance, International

Summary:     Bangladesh has finally become a member of the New Development Bank (NDB), which aims to be an alternative to the US-dominated World Bank and International Monetary Fund. Content: The new Development Bank founded by Brazil, Russia, India, and China in 2014 tried to expand its membership on Dec 17th formerly referred to as the BRICS Development Bank, established by the BRICS states. Very... Read More

Investment abroad needs BSEC ‘Nods’

05/09/2021 | | Capital Market, Investment

Summary:  Bangladesh Securities Zone and Exchange Commission has intervened in the parallel drafting rules by Bangladesh Bank and Bangladesh Investment Development Authority on a debatable consent by the offshore investors, albeit with some exceptions to the capital issue. Content:  Equity investments are commonly used in our country. When money is invested in a company by purchasing shares of that company in the stock... Read More

Management of the digital commerce calls for the escrow service

02/09/2021 | | Banking, Commercial

Summary:  With the instruction of the commerce ministry and Bangladesh Bank, some banks have already withdrawn the direct payment facilities into the bank account of E-commerce companies from their customers to abide by the guidelines of escrow service. Content:  Since e-commerce had started in Bangladesh, the process of advance payment from customers also had been started. Some dishonest companies had abused this... Read More

Gazprom gets NoA to drill three Bhola wells

02/09/2021 | | Construction, Power

Summary: Russian energy giant Gazprom has obtained a contract by Bapex to drill three more wells at Bhola Island with a total cost of $77.18 million which is BDT 6.48bn Content: Russian energy giant Gazprom has obtained an NOA to carry out the drilling of three more onshore gas wells at Bhola Island meaning they are officially notified by the... Read More

Banks to submit monthly VAT info of non-resident taxpayers

02/09/2021 | | Banking, Taxes & Finance

Summary: In line with the decision of the NBR, the central bank has issued a notification to the scheduled banks to send the statements of Value-added Tax through the bank’s head offices within seven days of the following months. Content:  As per the current mandatory requirement for any business operating in Bangladesh, the nonresidential companies will have to pay 15% Vat on... Read More

Newsletter-Vol 1-2012

16/08/2021 | | International, Shipping

LAWS RELATING TO MARITIME LIEN AND MARITIME CLAIMS IN BANGLADESH   A traditional maritime lien is a secured right in the “res", i.e., in the property of another (ordinarily the ship), which arises with the claim, without registration Or other formalities it; travels with the vessel even if it is sold to third party; Which remains with the vessel until it... Read More

Bangladesh Bank sets a new target on banks’ green, sustainable financing.

10/08/2021 | | Banking, Finance

Summary:  To implement the plan of Bangladesh Bank to disburse bank loans in green and sustainable financing, the Sustainable Finance Department has issued a circular on Aug 04.  According to the circular, the basis for setting annual targets will be accomplished by adhering to more specific deductions compared to the previous plan. Content:  Sustainable finance involves making investment decisions that consider not only financial... Read More

Cryptocurrency Trading, promotion and all kinds of operation is Illegal

10/08/2021 | | Banking, Finance

Summary: The ongoing confusion over the legality of virtual currency has now been cleared out. Now, such virtual transactions are listed as crimes under the Foreign Exchange Act 1947, Anti-terrorism Act 2009, and the Prevention of Money Laundering Act 2012. Content: A cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies,... Read More

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