S Alam Group and its linked companies account for more than 86 percent of the disbursed loans of Global Islami Bank (GIB), one of the six Shariah-based lenders that were controlled by the Chattogram-based business giant.

Referring to the legal provision requiring a 2 percent shareholding in a commercial bank to become a director, Abdul Mannan,  chairman of First Security Islami Bank (FSIB), said this has driven away seasoned banking leadership from boardrooms and allowed infamous individuals like S Alam into banking leadership roles.

There has been little progress regarding the signing of preferential trade deals by Bangladesh with major trading partners amidst the change in government following the anti-discrimination movement in July. 

Per capita foreign debt of Bangladesh more than doubled in the last eight years, according to official data, as economists attribute the hike to unplanned foreign-funded projects and corruption, ultimately ballooning the liability on low-income people, including the extremely poor.

Renata PLC reported higher revenue and profit in fiscal year 2023-24 primarily due to higher exports and lower finance costs.

Protests erupted once again in the Ashulia industrial area yesterday as readymade garment workers now demand withdrawal of cases filed against them over recent vandalism and an increase in the monthly minimum wage up to Tk 22,000 from current Tk 12,500.

Classified loans in the banking sector have exceeded Tk 211,000 crore. Various agencies are talking of almost Tk 400,000 crores of stressed assets in the banking sector, almost 25 percent of the total loans.

Meghna Automobiles, the automotive arm of Meghna Group, began selling three locally assembled sport utility vehicles (SUVs) of South Korean automobile manufacturer KIA recently.

In order to narrow or meet the investment gap and more so, to abide by employment generation obligations, every country needs foreign direct investment (FDI).

Sales of cement nearly halved in the last couple of months as real estate developers shelved construction plans while public projects came screeching to a halt in the face of nationwide unrest and the sudden political changeover.

More than two-thirds of the insurance companies registered in Bangladesh since 1990 were approved during the regimes of the Awami League government led by former prime minister Sheikh Hasina.

After a prolonged period of crisis, the foreign exchange market in Bangladesh, especially the interbank forex market, is showing signs of recovery, driven by a rebound in remittance receipts and key policy interventions by the central bank.

Gold prices have been rising steadily for over a year in Bangladesh and crossed the Tk 100,000 per bhori mark for the first time last July.

The lender invited bids from interested buyers for properties mortgaged by the company in the capital's Uttarkhan, Uttara Residential Model Town and Bashundhara.

The Bangladesh Financial Intelligence Unit (BFIU) has instructed banks to freeze accounts owned by Orion Group Chairman Obaidul Karim and its Managing Director Salman Obaidul Karim.

Prompt steps are needed to address the workers’ demands and quell the ongoing labour unrest, said Socialist Labour Front President Razekuzzaman Ratan.

An International Monetary Fund (IMF) delegation due to arrive later this month will assess Bangladesh’s potential financial needs as the country sought a fresh $3 billion loan from the multilateral lender.

The workers’ demands are logical so owners should sit together to address this and restore stability to the garment industry, the country’s largest export-earner, said Kalpona Akter, president of Bangladesh Garment & Industrial Workers Federation.

Ride-hailing firm Pathao yesterday announced that it had raised $12 million to ramp up its fintech offerings in a much-needed boost for Bangladesh’s start-up ecosystem, which has been grappling with shrinking funding in recent times.

American companies operating in Bangladesh yesterday expressed concern over the law and order, especially in light of the recent unrest in industrial zones, and also highlighted issues regarding profit repatriation amid the ongoing dollar crisis and challenges in the supply chain resulting from congestion at ports.