Grameenphone’s net profit tumbled 23.87 per cent year-on-year in the second quarter of 2020 because of the ongoing Covid-19 crisis.

The government yesterday finally reappointed Fazle Kabir as the governor of the central bank for two more years as it looks for an old hand to steer the financial sector during its most challenging period yet.

AB Bank has asked more than 100 of its employees to resign as part of its efforts to restructure operations.

On June 16, 2020 China declared duty-free export facilities for the least-developed countries (LDCs), including Bangladesh on 97 per cent of their tariff line.

When the majority of banks are struggling to survive from the ongoing financial meltdown brought on by the coronavirus pandemic, Dhaka Bank has introduced a novel banking product that will help clients open their account from home.

Mobile phone operators are struggling to retain their active subscribers despite offering lucrative packages, including free minutes, SMS and extra data, as the coronavirus-induced economic downturn has affected all sectors and curtailed people’s income.

The telecom regulator’s restrictions on Grameenphone will remain in effect as the High Court has dropped from its hearing list a writ petition filed by the country’s leading mobile operator in this connection.

Social Islami Bank has rolled out a new campaign to rope in more customers and widen the customer base by offering Tk 100 in instant cash bonus for opening any new accounts, in a move that can give a boost the central bank’s financial inclusion agenda.

Opportunism. That is what comes to mind when one hears of the move by the Bangladesh Association of Banks (BAB), an organisation of sponsors of private banks, to usher in salary cuts for their staffs.

Eastern Bank (EBL) yesterday rolled out a novel export factoring solution -- just the day after the central bank issued the guideline for it -- as part of its efforts to reduce the risks that Bangladeshi exporters face when it comes to collecting their goods’ worth.

The Bangladesh Bank yesterday cracked the whip on banks for their foot-dragging in implementing the stimulus packages for businesses, ordering them to disburse all funds within the next month.

Most banks’ operating profits declined 20 to 30 per cent in the first half of 2020 because of the paralysed economy but the fall did not reflect properly in their stock prices owing to the floor price.

The country’s earnings from garment export in the outgoing 2019-20 fiscal year declined to 27.83 billion USD – an 18.45 percent decline compared to the previous fiscal year.

Finance Minister Tajuddin Ahmad presents to the nation today the first budget of Bangladesh. He describes it as the budget for development, rehabilitation and reconstruction which seeks to narrow the gap between lower and higher income groups,

Grameenphone has filed a writ petition with the High Court, challenging legality of BTRC’s decision that imposed two new restrictions on the country’s leading mobile operator.

Achieving 8.2 percent GDP growth during this pandemic is almost impossible as GDP growth and revenue collection will be lower this year because of slow business, said AB Mirza Azizul Islam, an economist and a former adviser to the caretaker government.

Finance Minister AHM Mustafa Kamal has proposed continuation of 1 percent additional cash incentive for the country’s garment export in 2020-21 fiscal year too, considering the economic fallout from Covid-19 pandemic.

Real estate companies have urged the government to allow black money to be invested in the housing sector through the upcoming budget without prying into the sources as it would help the vulnerable industry survive the ongoing coronavirus pandemic.

The Bangladesh Bank yesterday drew up a policy to rebate interest for borrowers for the April-May period as part of its move to give a breathing space to them from the ongoing economic fallout.

As connectivity through digitalisation has proven worthwhile in keeping socio-economic activities up and running even during the pandemic, entire Bangladesh is running after innovation in this area, said Yasir Azman, chief executive officer of Grameenphone.