In the first week of July, the Bangladesh Bank and Islami Bank Bangladesh completed a US dollar-taka trade, a typical mutual currency deal, which was supposed to replenish the central bank’s dwindling forex reserves and provide the cash-strapped Shariah-based lender with some liquidity support.

In a first for Bangladesh, the country’s interim government is going to import liquified natural gas (LNG) purchased from the spot market in accordance with the Public Procurement Rules 2008.

Bangladesh Bank Governor Ahsan H Mansur requested customers to keep calm regarding the crisis plaguing over half a dozen ailing banks, expressing optimism that their situation would turn around soon.

The scope for legalising undisclosed income without facing any questions remains as the tax administration has not scrapped the provision of whitening black money in case of the purchase of flats and land, raising criticism.

Taxation rules and processes, including that for income, needs to be revised and automated to make it easy for cottage, micro, small and medium enterprises to run business, Ashraf Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI) yesterday. 

Bangladesh Honda Private Ltd (BHL), a joint venture between Japan’s Honda Motor Company and the state-owned Bangladesh Steel and Engineering Corporation, has begun exporting motorcycles.

In the first week of July, the Bangladesh Bank and Islami Bank Bangladesh completed a US dollar-taka trade, a typical mutual currency deal, which was supposed to replenish the central bank’s dwindling forex reserves and provide the cash-strapped Shariah-based lender with some liquidity support.<

Salman, a shareholder of the bank, is now in jail in connection with several cases filed over various irregularities during the Awami League’s 15-year regime.

Mohammad Jainul Bari, chairman of the Insurance Development and Regulatory Authority (IDRA), yesterday informed that he would resign today..“I have decided to resign. I will send the formal resignation letter to the Financial Institutions Division,” he said on being contacted by The Daily

Taxation rules and processes, including that for income, needs to be revised and automated to make it easy for cottage, micro, small and medium enterprises to run business, Ashraf Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI) yesterday.

Muhammad Abdul Mazid, former chairman of the National Board of Revenue, has been appointed as the chairman of the Social Development Foundation (SDF)

Exporters will face higher costs when getting loans from the Export Development Fund (EDF) as a new interest rate calculation method has been introduced for loans in US dollars.

The World Bank on Tuesday raised its Indian economic growth forecast to 7 percent for the current fiscal year, from an earlier estimate of 6.6 percent, helped by government spending on infrastructure.

China’s manufacturing data put up a mixed performance in August, thus increasing the necessity of launching additional macroeconomic policy support measures to ensure the achievement of the country’s annual growth target, economists and analysts said.

After a series of abrupt labour agitations caused a rare stir in the country’s comparatively steady pharmaceutical sector, drug manufacturers said they want the government to mediate the ongoing labour situation. 

Bangladesh Bank has formed new boards of directors for two more banks and a non-bank financial institution as a part of its ongoing reform initiatives for the banking sector.

The country’s Islamic banking sector registered growth in deposits in June although several Shariah-based lenders are facing widespread scams and irregularities.

India’s plan to extend a cross-border diesel pipeline from Dinajpur’s Parbatipur upazila to Natore will apparently see delayed implementation for the ongoing political crisis, according to the Bangladesh Petroleum Corporation (BPC) and an Indian media outlet. 

Default loans in the banking system surpassed Tk 200,000 crore for the first time, underlining the fragile condition of the sector that fell prey to rampant scams and irregularities under the tenure of the Awami League government over the past 16 years.

Russia’s central bank is expected to raise its benchmark interest rate by 100 basis points to 19 percent at its Sept. 13 meeting to combat inflation and cool the overheated economy, a Reuters poll of analysts showed on Monday.