02Jun
01Jun
Central Bank wants to reduce 1% default loans through Negotiation
Summary: Rather than suing the defaulting consumers, the central bank has instructed banks to use Alternative Dispute Resolution (ADR) to collect defaulted loans. The Bangladesh Bank issued an order on May 12, 2024, requiring all banks to recover at least 1% of their defaulted loans through...
01Jun
Stocks regulator moves for strictly monitoring AGMs, EGMs
Summary: The Bangladesh Securities and Exchange Commission (BSEC), which oversees the stock market, has taken the lead in establishing a pool of impartial service providers to oversee and closely monitor general meetings, including extraordinary general meetings (EGMs) and annual general meetings (AGMs). The BSEC now requests...
01Jun
China filed a Complaint at the World Trade Organization over the U.S.’s Inflation Reduction Act, saying it was discriminatory and distorted fair competition.
Summary: China complained against the U.S. Inflation Reduction Act to the World Trade Organization, claiming it was unfair and obstructed fair competition. President Biden signed the Inflation Reduction Act into law in August 2022. As a result, starting in 2024, American consumers who purchase automobiles with...
01Jun
Belgium and the European Union sign the “Beijing Convention on the Judicial Sale of Ships”
Summary: On March 14, 2024, at the UN Headquarters in New York, Belgium and the European Union signed the United Nations Convention on the International Effects of Judicial Sales of Ships, often known as the "Beijing Convention on the Judicial Sale of Ships". The European Union...
01Jun
New ICC Hearing Centre unveiled
Summary: Information about the reopening of ICC's Hearing Center in Paris has been made public. The 17th arrondissement's rue Legendre will house the ICC Hearing Center. It will have two sets of hearing and breakout rooms spread out over one level, with the option to add...
01Jun
CSE to get maiden commodity Exchange License
Summary: The country's first commodities (CX) exchange license will be granted to the Chittagong Stock Exchange (CSE) by the Securities Commission on March 20, 2024, around four months after the guidelines were published. Shaifur Rahman Mazumdar, the Managing Director of CSE, attested to this and stated...
01Jun
Exim-Padma Bank merger to take at least 18 months
Summary: The planned merger of Padma Bank and Exim Bank is expected to take 18 months to 2.5 years, according to central bank authorities. The banks must submit a formal application to the Bangladesh Bank, supporting documentation, and a copy of the merger plan. The merger...
01Jun
Formal negotiations for an EPA between Bangladesh and Japan for a post-LDC 2026.
Summary In order to secure the continuation of duty-free export facilities after Bangladesh leaves the list of least developed countries, and to attract more investment from the world's fourth-largest economy, Japan and Bangladesh have decided to formally start negotiations for the signing of an Economic Partnership...
20May