Genex Infosys makes an agreement with Edotco to offer IOT services

13/07/2021 | Rahmans Chamber | Commercial, Investment

Summary: Genex Infosys has entered into a three-year agreement with Edotco Bangladesh Company to arrange for 360-degree internet of things (IOT)-based security solutions, including monitoring and theft protection. This service agreement is estimated to produce approximately BDT240mn in revenue per year upon full rollout, added the disclosure. Content: Genex Infosys is a part of the IPE Group UK, a leading outsourcing provider of customer experience... Read More

Microsoft gets VAT registration

13/07/2021 | Rahmans Chamber | Corporate, Investment

Summary: Microsoft received the Value-Added Tax (VAT) registration from Dhaka South Vat commissionerate on July 01 standing as the fourth tech giant in Bangladesh. It used its Singapore address and collected its Business Identification number. Content: It's obvious that if the International companies want to conduct business here in Bangladesh, they will have to pay taxes to the government. So, these technology companies... Read More

BSEC has published its First Green bond gazette on 31st May 2021

20/06/2021 | Rahmans Chamber | Investment

Summary: Bangladesh Security and Exchange Commission has approved the first-ever green bond issuance in Bangladesh in favor of a non-governmental organization. In its newly published gazette, BSEC has notified its nature of the bond and the type of corporations that can buy these bonds. Content: Starting with the introduction of Green bonds which are any type of debt instrument with the same underlying... Read More

23,210 investors with shares worth BDT 10 million or more found eligible for SME IPO subscription

03/06/2021 | Rahmans Chamber | Investment

Summary: The government issued rules for qualified investor offer by small capitalized companies on January 30 to give a chance of raising fund from the capital market for the small public limited companies. Bangladesh Security Zone Exchange Commission had declared 23,210 BO accountholders as eligible investors for the subscription of IPOs of SMEs. Content: SME (small-to-medium enterprise) is a convenient term for segmenting businesses... Read More

One Person Company registration starts from May 23, Tax rate cut to 25% from 32.5% likely

01/06/2021 | Rahmans Chamber | Investment

Summary: The Registrar of Joint Stock Companies and Firms (RJSC) has started incorporating One Person Company (OPC) -- a new type of business entity in the country -- from May 23, 2021. To encourage the foreign enterprises and sole proprietorship, the government is going to offer a tax exemption through a 25% cut in the upcoming national budget for fiscal 2021-22. Content: One... Read More

Foreign companies can open foreign currency accounts under local offices

01/06/2021 | Rahmans Chamber | Investment

Summary: Bangladesh Bank (BB) has allowed authorized dealers to open foreign currency accounts in the names of branch offices or liaison offices of foreign companies as opposed to the name of employed local executing firms, operating under approval from the Bangladesh Investment Development Authority (BIDA), or other relevant bodies. This will attract more foreign direct investment if operated under the supervision... Read More

Bangladesh Bank is Requested to Remove the Bar on Dividend Limits for NBFIs

31/03/2021 | Rahmans Chamber | Investment

Summary: On February 7th, 2021, Bangladesh Bank (BB), the central bank of the country declared a dividend policy for banks for 2020 in light of the challenges that the outbreak of coronavirus posed which allowed them to reward their shareholders based on the strength of the capital base. On the 24th of February 2021, the central bank stopped the non-bank financial... Read More

BSEC unveils draft rule to form stock market stabilisation fund

24/02/2021 | Rahmans Chamber | Investment

[Source: TBS] Aiming to provide liquidity support to the capital market, the Bangladesh Securities and Exchange Commission (BSEC) will form a fund with the unpaid dividends. The fund will be run under the name of Stock Market Stabilisation Fund. The BSEC claimed that there are dividends worth Tk21,500 crore which have remained unsettled for a long time in several companies. The securities... Read More

$26 billion investment proposed in economic zones

11/10/2020 | Rahmans Chamber | Investment

[ Source: the Business Standard] The government will be setting up nine more economic zones in the country. The approval came at a recent governing board meeting of the Bangladesh Economic Zone Authority (Beza), chaired by Prime Minister Sheikh Hasina. With this, the number of approved economic zones currently stands at 102. Of the 93 previously approved economic... Read More

Opportunities for PPP Legal Frameworks Post-COVID-19

28/09/2020 | Rahmans Chamber | Construction, Covid-19, International, Investment

[Source: World Bank Group] While recognizing that many best practice examples for PPP legal frameworks exist on a national level or through international initiatives, there remains a gap in terms of practical guidance on critical components of PPP legal frameworks and how these can contribute to the preparation and implementation of PPPs that are more resilient to... Read More