Bank & Finance
Bank & Finance
Corporate taxes in Bangladesh highest in South Asia
Below Afghanistan in collection Zarif Mahmud: Bangladesh has the highest corporate tax rate in South Asia. But according to the research institute Center for Policy Dialogue (CPD), it is below Afghanistan. On the other hand, 2 lakh 13 thousand companies are registered in Joint Stock Company, but only 45 thousand…
Read More »Remittance rises to$2 billion in March
Staff Correspondent: Remittance earnings increased to $2 billion in March after six months thanks to offering higher dollar rate by banks than the rate set by Bangladesh Foreign Exchange Dealers Association (BAFEDA).Bangladesh Bank data shows that remittance inflow through the banking channel rose by 29.29% in March from $1.5 billion…
Read More »Interest rates to be skyrocket from July
Implementation of IMF conditions Mahfuz Emran: Bangladesh Bank has decided to waive the loan interest rate limit as per the conditions of the International Monetary Fund (IMF). As an alternative, the market-based interest rate will be introduced.This is why the central bank is creating a structure similar to the London…
Read More »2b dollars worth of trade by Rupee
India-Bangladesh trade Zarif Mahmud: The use of rupees is going to start in Bangladesh’s $2 billion trade with India. Bangladesh Bank has almost finished all kinds of tests in this regard. Its use will be introduced in both countries only after a bilateral decision on some issues. India-Bangladesh Chamber of…
Read More »AB Bank taking dollarprice as they like
Its Teknaf branch becomes a party office Special Correspondent: The government banks stopped issuing letters of credit (LC) long ago because of dollar crisis. But the C&F traders of Cox’s Bazar’s Teknaf land port could not stop their business. They have to approach private banks to redeem goods imported from…
Read More »New law will allowbanks to sue directors CEOs for damages
Industry Desk: As per the existing law, banks are able to remove their directors or chief executive officers from their respective positions if they are found to be involved in corruption or irregularities. But there is no provision which enables the banks to cover financial losses caused by the responsible…
Read More »Bank deposit decreasing due to economic crisis
Zarif Mahmud: The negative impact of prolonged economic recession has started to fall on the banking sector. Overall, the growth rate of deposit flow in banks is decreasing. This rate is decreasing in cities as well as in villages. However, the growth rate of deposits has decreased more in villages…
Read More »7-yrs jail if use word bank without license
New IMF conditions Special Correspondent: In order to fulfill the conditions of the International Monetary Fund (IMF), the amended Bank Company Act-2021 is going to be raised in the upcoming National Parliament session. There, a maximum penalty of 7 years or Tk 50 lakh or both has been provided for…
Read More »Tk 166,887 cr stuck-up against 72,189 cases
Pending loan cases bring havoc in banking Special Correspondent: On the one hand, defaulted loans are increasing, on the other hand, the court cases of financial loans are increasing. But there is no speed in the recovery of these money that are left out of the bank’s charter.Due to legal…
Read More »Foreign loan flow increasing in BD
Mahfuz Emran: The flow of foreign loans has increased for development work under different projects. The Executive Committee of the National Economic Council (ECNEC) approved 17 development projects in just two meetings. Where 12 projects depend on foreign loans. Foreign loans of Tk 12,350 crore have been taken under these…
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Hotels to be converted for Covid hospitals
Hospitals overwhelmed Staff Correspondent: The government is going to rent hotels for providing treatment …
