Summary: The Bangladesh Securities and Exchange Commission (BSEC) is evolving a working plan to abolish the Over-the-Counter (OTC) market to facilitate trading for the castoffs companies. The plan will be finalized within a short time which will shift some of the companies to the SME platform and some others to the Alternative Trading Board (ATB) of the stock exchanges. Content: Over-the-counter or... Read More
Summary: Genex Infosys has entered into a three-year agreement with Edotco Bangladesh Company to arrange for 360-degree internet of things (IOT)-based security solutions, including monitoring and theft protection. This service agreement is estimated to produce approximately BDT240mn in revenue per year upon full rollout, added the disclosure. Content: Genex Infosys is a part of the IPE Group UK, a leading outsourcing provider of customer... Read More
Summary: Microsoft received the Value-Added Tax (VAT) registration from Dhaka South Vat commissionerate on July 01 standing as the fourth tech giant in Bangladesh. It used its Singapore address and collected its Business Identification number. Content: It's obvious that if the International companies want to conduct business here in Bangladesh, they will have to pay taxes to the government. So, these technology... Read More
Summary: According to the recent notice published by the central bank, borrowers will be able to avoid the default zone by repaying 20% of their loan installments by August this year. Three categories of loans will be qualified for this policy. Content: In March this year, Bangladesh Bank had provided a repayment deferral support to the borrowers to help them stay out... Read More
Summary: By issuing the new guidelines on outward remittance repatriation for payment of royalty, Bangladesh Investment Development Authority ( BIDA ) has repealed all the previous guidelines on repatriation of royalty and eased the procedure of technical assistance and franchise fees for the private industrial enterprises to the foreign companies to facilitate new direct foreign investment. Content: According to the new guidelines... Read More
Summary: The central bank has published a circular on the extension of loan rescheduling till 30 September and asked the default tanners to file applications with a 2% down payment with their respective banks. Content: According to the policy introduced by Bangladesh Bank in January, banks were allowed to provide rescheduling and one-time exit facilities to the tannery owners that have... Read More
Summary: For the first time, BSEC permitted non-governmental organizations (NGOs) are out in the market to raise funds by issuing bonds. These NGOs are renowned microfinance institution-BRAC, Buro Bangladesh and Sajida Foundation. Content: The three leading NGOs in the country applied altogether for 16.5 bn by issuing bonds last month. These NGO microfinance companies are funded by donor support in the form... Read More
Summary: Beximco Limited got the final approval from the Security regulator of the Bangladesh Securities and Exchange Commission for the issuance of green Sukuk Bond worth Tk 30 billion to finance construction goals and equipment procurement. The BSEC approved the proposal on 24th June, Wednesday based on some conditions. Content: Bangladesh Export-Import Company Limited filed documents for the issuance of Islamic Shariah Compliance... Read More
Summary: The expansion of the repayment deferral support by the central bank has resulted in the rise of the Non-Performing Loans (NPL)s in the first quarter of this year. It is stipulated that the facility has been misused by the habitual defaulters which were provided to the pandemic-hit-borrowers. Banks should take some effective measures to cope up with the economic... Read More
Summary: The continuous global clamor for attention towards the ship’s carbon emission has pushed the International Maritime Organization to take measures to reduce pollution caused by ships. The IMO will also research market-based incentives for the purpose of adopting such mechanisms by 2024. Content: To face the rising pressures from the government and its own ranks over environmental goals, The IMO... Read More
