BIAC and CLDP jointly hosted a seminar on International Commercial Arbitration

May 8, 2023 | | Arbitration, Commercial, Corporate

Summary:  Arbitration is an expeditious and practicable methodology for resolving a commercial dispute. This is also a private strategy and out of the judiciary courts, Contemporarily, the Commercial Law Development Program (CLDP) and Bangladesh International Arbitration Centre (BIAC) cooperatively categorized a programme for International Commercial Arbitration. Principally, BIAC is the foundation or convention which conducts arbitration mechanisms in Bangladesh. And... Read More

Arbitration that is reasonable and inexpensive is used to settle trade disputes more frequently than litigation.

May 8, 2023 | | Commercial, Corporate, Dispute Resolution

Summary:  Bangladesh's commerce sector is expanding day by day despite numerous disagreements that are occurring in between. Most businessmen use arbitration as a method of resolving any conflict that arises outside of court. Arbitration is favored as a faster and cheaper alternative to litigation. Content:  A Bangladeshi company called Khan IT and Services had been receiving computer accessories from a Singapore-based company... Read More

The Electronic Communications Convention of the United Nations can be carrying a vital role in the international Trade sector and contract.

April 25, 2023 | | Commercial, Dispute Resolution, International

Summary: Today we are all dependent on electronic communication for each sector. And the Electronic Communications Convention’s main goal is to increase the legal charity and business predictability in the use of international contracts also wants to remove the legal obstacles to using electronic communications. Being a seventeenth state Tuvalu acceded to the United Nations Convention on the Use of... Read More

More trade disputes are resolved out of the court for reasonable and affordable arbitration.

December 8, 2022 | | Arbitration, Commercial, Corporate

Summary:  Day by day the trade sector of Bangladesh is progressing through many disputes arising in between. Maximum businessmen choose the way of arbitration as a settlement option of any dispute which occurred out of the court. The reason for preferring arbitration as a settlement option is the affordable and quicker approach. Content:  A Singapore-based company named Limcon Technology Solutions had been... Read More

BB orders to tighten monitoring to stop crypto currency transactions

November 24, 2022 | | Banking, Finance, Commercial

Summary  The Bangladesh Bank has ordered to tighten observation to be additional cautious to prevent group action and alternative activities relating to cryptocurrencies together with bitcoin. Content The Bangladesh Bank has asked scheduled banks to not provide any support services concerning transactions of cryptocurrencies and to strengthen their observation capability to stop any such activities. The BB on weekday issued a circular during... Read More

India’s tariff body for anti-dumping duty

November 24, 2022 | | Commercial, International, Taxes & Finance

Summary  The Directorate General of Trade Remedies (DGTR) of India has advised the finance minister to once more apply anti-dumping duties for an additional five years on Bangladeshi exports of jute products. Content  On October 10, the supreme national authority of India, which is in charge of overseeing all trade corrective actions, released a gazette notification in this respect on its website.... Read More

A money changer cannot hold more than Tk 50 lakh at a time.

November 24, 2022 | | Banking, Finance, Commercial

SUMMARY Bangladesh`s central bank has made it clear how much cash money changers are allowed to keep. Money changers that deal in foreign cash currency in the domestic market may hold a maximum of Tk 50 lakh on hand. The country's reserves have been dropping, and banks have been experiencing a shortage of liquid dollars. CONTENT  According to a directive provided in... Read More

Exporters to induce more time to bring domestic continues

November 24, 2022 | | Banking, Commercial, International

SUMMARY: Bangladesh Bank is set to extend the due date for repatriating trade incomes by six months. It is additionally amplifying the usance period for imports by an extra six months and giving money-related motivations to settlements made by Bangladeshi troops serving UN missions in arrange to soothe the burden on outside trade saves. The Bangladesh Bank reports that the... Read More

BB eases rules on loans to exporters

November 24, 2022 | | Banking, Finance, Commercial

SUMMARY  The Bangladesh Bank (BB) eased conditions on single borrowers and large loan exposure limits. Restrictions will not apply in case of credit facilities provided to the government or against government guarantees. The circular will come into force immediately, according to a circular issued by the central bank. CONTENT To extend support in Industrial expansion and guarantee competitive financing, the Bangladesh Bank... Read More

Parliament passes Finance Bill with Corporate tax slashed by 2.5%

July 7, 2022 | | Commercial, Corporate, Taxes & Finance

Summary: Parliament passed some much-debated provisions regarding the Finance Bill 2022, to grant legal cover to a new national budget which should have been more welfare-oriented in the crisis time than growth-centric. Content: In the new fiscal measures the amnesty for whitening offshore movable assets and a cap of Tk 3.6 million as the allowable limit for cash transactions for corporate taxpayers. Whereas,... Read More

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