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
Summary: Bangladesh Securities Zone and Exchange Commission has urged 26 Insurance companies to get enlisted in the capital market among which 21 companies are still pending to be enlisted. Despite providing exemptions from the barriers of the security rules, there are certain conditions that the companies must comply with to be enlisted in the capital market. Content: The idea of capital market... Read More
Summary: Brazil had signed the ‘Singapore Convention of Mediation’ on 4th June at the United Nations headquarters in New York. This Convention consists of the UNCITRAL Model Law and the key provisions lie in the first ten articles. Brazil is the fifty-fourth signing state of this multilateral treaty. Content: In the era of nascent International trade and investment, it was highly important to... Read More
Summary: The Bandar Abbas Chamber (Iran), Los Angeles Area Chamber (United States), sixteen New Zealand Chambers, and thirty-one Irish Chamber now will benefit from the use of ICC’s internationally-recognized Certificate of origin (CO) label with their newly established International status as accredited members of the Certificate of origin chain which was virtually approved by forty-seven CO experts from thirty-two countries... Read More
Summary: Bangladesh Security and Exchange Commission has approved the first-ever green bond issuance in Bangladesh in favor of a non-governmental organization. In its newly published gazette, BSEC has notified its nature of the bond and the type of corporations that can buy these bonds. Content: Starting with the introduction of Green bonds which are any type of debt instrument with the same... Read More
Summary: A court in Netherland has ruled that the oil giant Shell must condense its emission to align its policies with the Paris climate accords. With full awareness of the action on climate change, Shell has declared to appeal on the Court decision and has replied on the case verdict by stipulating their business policies and journey towards a net-zero... Read More
Summary: Bonus share offerings are about to be abandoned for the five types of listed companies that are not able to utilize their existing fund. BSEC found that the bonus share issue brings no good to the company and nor can ensure minority protection. Although the companies having tremendous sales have no problem issuing bonus shares for further expansion of... Read More
