Summary The economic crisis moment is started with the Covid-19 Pandemic, during that time the economic strategy collapsed globally. After the concession made in the collection of bank loans was withdrawn due to Covid-19, loan defaults began to rise, and in the last nine months the rising amount of BDT 31, 122 crores, despite the abundance of available facilities. Content Given the... Read More
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
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
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
SUMMARY: The banks have been advised by the Bangladesh Bank to take insurance coverage against their financing to exports in an attempt to cut down menace of loans. CONTEXT: The central bank published a circular to encourage banks to secure their financing through insurance coverage under credit guarantee strategy which is locally accessible from insurance companies. This will provide banks with... Read More
SUMMARY: The government will soon embark on an alliance with foreign investors with the intent to lay the foundations of a shipbuilding facility. The government of Bangladesh is just one step away from attaining its colossal objective to construct a state-of-the-art shipyard with the biggest foreign direct investment (FDI) of $1.58 billion. This tremendous plan of action will be carried... Read More
Summary: BSEC has requested plans from 64 companies on how they intend to meet the compulsory minimum paid-up capital of 300mn as per the listing regulation of the Dhaka Stock Exchange and to be saved from being transferred to the SME platform. Content: Earlier in September 2021, the commission constituted a committee to examine the overall health of such enterprises and to... Read More
Summary: Eligible Bkash customers with no actual bank account can now procure easy-terms loans with bkash app and repay with 9% annual interest under the new initiative of the City Bank. Content: BKash customers, who are eligible, can now utilise the bKash app to request for a loan ranging from Tk 500 to Tk 20,000, will receive the loan instantaneously. After that, they... Read More
Summary: The long-awaited Income Tax Act 2022 will come into effect soon after presenting the draft to the Cabinet along with the proposal of e-Tax Management system. Content: The National Board of Revenue has finalized the draft Income Tax Act 2022 which incorporates domestic pricing and anti-avoidance rules as asserted by the Chairman of the NBR, Abu Hena M Rahmatul Muneem. He also... Read More
Summary: Far Chemical Industries, a Concern of FAR Group, has decided to merge with SF Textile Industries along with the physical shifting to the second one’s own land at Rupganj, Narayanganj. Content: Far Chemical Industries Limited is a textile chemical-based industry, situated in Comilla EPZ, producing all types of textile chemicals needed by all export-oriented textile sectors. They have decided to merge with SF... Read More
