Beyond 2026, Bangladesh is set to continue receiving trade benefits

30/12/2023 | admin2019 | Corporate, International, Investment

Summary: WTO member nations have successfully reached an agreement to provide support to Bangladesh and other least developed countries (LDCs) as they progress towards graduation. Starting November 2026, Bangladesh will continue to receive trade benefits even after it graduates from the list of least-developed countries. However, the World Trade Organization (WTO) has decided to extend support measures for countries that... Read More

In the fiscal year 2023, loans worth Tk 7,319 crore were written off.

30/12/2023 | admin2019 | Banking, Finance, Corporate

Summary: Banks in the country wrote off over Tk 7,319 crore in bad loans during the financial year 2022-23 to reduce their defaulted loans and improve the state of their balance sheets. However, the recovery process for such loans was not good, which resulted in an increase in the total amount of bad loans. Content: As per the latest data released by... Read More

Loan write-offs have increased by over three times during the first six months of 2023

30/12/2023 | admin2019 | Banking, Finance, Corporate

Summary: In the first half of this year, banks wrote off loans three times more than the same period in the previous year. This indicates that banks are facing a growing number of defaults and financial challenges from borrowers, which could have serious implications for the overall stability of the banking industry. Content: Defaulted loans are on the rise due to a... Read More

Celebrating Supreme Court day on December 18th: Recognizing the Supreme Court’s Legacy of Justice

20/12/2023 | admin2019 | SCBA office

On 18th December 2023, the day of its inauguration in 1972, our Supreme Court celebrated its Supreme Court Day. We at Rahman's Chambers joined them on this momentous occasion, acknowledging their unwavering commitment to upholding the rule of law and safeguarding the rights of all citizens. As legal professionals, we are deeply grateful for the Supreme Court's contributions to building... Read More

Congratulations to our client IHI Corporation and Partners on the official inauguration of the commercial production of the first unit of the Matarbari Power Plant

21/11/2023 | admin2019 | Uncategorized

Congratulations to our client, IHI Corporation, and its consortium partners, Sumitomo Corporation and Toshiba Corporation, on the official inauguration of the commercial production of the first unit of the Matarbari Power Plant in Bangladesh! This is a landmark achievement for Bangladesh, as it is the country's first ultra-supercritical coal-fired power plant. Ultra-supercritical coal-fired power plants operate at higher temperatures and... Read More

Congratulations to China Road and Bridge Corporation on the opening of the Patenga Container Terminal

21/11/2023 | admin2019 | Commercial, Construction, Shipping

Congratulations to our client, China Road and Bridge Corporation, on the opening of the Patenga Container Terminal in Chattogram, Bangladesh! We are proud to have acted as CRBC's retainer on this landmark project, which is one of the largest and most important infrastructure projects in Bangladesh. The new container terminal will significantly increase the capacity of Chattogram Port to handle cargo,... Read More

Congratulations to Penta-Ocean Construction Co., Ltd., on their opening of the channel of Matarbari Deep Sea Port.

12/11/2023 | admin2019 | Construction, International, Investment, Shipping

Rahman's Chambers is delighted to congratulate our client, Penta-Ocean Construction Co., Ltd., on the opening of the channel of Matarbari Deep Sea Port. This is a landmark project that will have a significant impact on the Bangladesh economy and improve the lives of millions of Bangladeshis. Penta-Ocean Construction Co., Ltd. played a vital role in the development of the constructing... Read More

Deposits made to Universal Pension may expect to receive a tax rebate

30/10/2023 | admin2019 | Investment, Taxes & Finance

Summary: The government is offering tax rebates on deposits for the Universal Pension Scheme to encourage investment. Content: An official from the National Pension Authority has confirmed that they have sent a letter to the National Board of Revenue (NBR) asking for appropriate action to be taken. It has been suggested that the board will issue an order relating to this matter... Read More

The World Bank agency is expected to provide loan guarantees worth up to $1 billion to Dhaka

30/10/2023 | admin2019 | Banking, Finance, International

Summary: The Multilateral Investment Guarantee Agency (MIGA) is considering providing guarantees for short-term trade finance facilities to Bangladesh for essential imports. The guarantee amount could range from $500 million to $1 billion. This move comes after the government was not interested in MIGA's previous offer of a $1 billion guarantee at a 6% interest rate six months ago. Content: International commercial lenders... Read More

The stability of the financial sector is at risk due to High amount of defaulted loans: BB report

30/10/2023 | admin2019 | Banking, Finance, Corporate

Summary: The Bangladesh Bank report warns that the financial sector's stability is at risk due to the increasing number of non-performing loans. On October 5, the quarterly report for April-June 2023 was published by the central bank, in which it made the observation. Content: The report reveals that the gross NPL ratio to total loans increased from 8.8% in March 2023 to... Read More