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 be exchanged online for goods and services. Many companies have issued their own currencies,... Read More
Summary: To the surprise of many research scientists, focus on the social issues increased despite the fact that many companies had to retool supply chains and many struggled simply to remain in business in the lockdown. Bangladeshi companies, which had an established Supply chain Management Process, were able to operate profitably during the covid-19 pandemic. Content: The objective of the supply chain... Read More
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 that are only available to Islamic banking as well as the benefits available to... Read More
Summary: The Bangladesh Securities and Exchange Commission (BSEC) is evolving a working plan to abolish the Over-the-Counter (OTC) market to facilitate trading for the castoffs companies. The plan will be finalized within a short time which will shift some of the companies to the SME platform and some others to the Alternative Trading Board (ATB) of the stock exchanges. Content: Over-the-counter or... Read More
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on outward remittance repatriation for payment of royalty, Bangladesh Investment Development Authority ( BIDA ) has repealed all the previous guidelines on repatriation of royalty and eased the procedure of technical assistance and franchise fees for the private industrial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 to the foreign companies to facilitate new direct foreign investment. Content: According to the new guidelines... Read More
Summary: The central bank has published a circular on the extension of loan rescheduling till 30 September and asked the default tanners to file applications with a 2% down payment with their respective banks. Content: According to the policy introduced by Bangladesh Bank in January, banks were allowed to provide rescheduling and one-time exit facilities to the tannery owners that have... Read More
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 some conditions. Content: Bangladesh Export-Import Company Limited filed documents for the issuance of Islamic Shariah Compliance... Read More
Summary: The expansion of the repayment deferral support by the central bank has resulted in the rise of the Non-Performing Loans (NPL)s in the first quarter of this year. It is stipulated that the facility has been misused by the habitual defaulters which were provided to the pandemic-hit-borrowers. Banks should take some effective measures to cope up with the economic... Read More
