02Sep

Banks to submit monthly VAT info of non-resident taxpayers

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...
10Aug

Cryptocurrency Trading, promotion and all kinds of operation is Illegal

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...
10Aug

Bangladesh Bank launches probe into stimulus loans

Summary: Probe into stimulus loans has helped the Central Bank to find many unproductive usages of the funds that were used in the packages. Apart from that, officials of eight departments of Banking Inspection (DBI) of the central bank along with its branch offices have been...
25Jul

Visa launches Islamic banking cards in Bangladesh

Summary: Visa, the pioneer in digital payment, announced the launch of a new portfolio of services for Bangladeshi customers in line with Islamic Banking principles on July 15. Customers will now be able to avail themselves the cards compliant with Islamic banking and get exclusive benefits...
06Jul

Bangladesh Bank eases rules for borrowers to avoid defaulting

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...
06Jul

New Guidelines for the repatriation of Outward Remittance

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on outward remittance repatriation for payment of royalty, Bangladesh Investment Development Authority ( BIDA ) has repealed all the previous guidelines on repatriation of royalty and eased the procedure of technical assistance and franchise fees for the private industrial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...
29Jun

BEXIMCO’s BDT 30 billion Sukuk gets affirmation

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...
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