Month: July 2013

INSURANCE COS 11 licences to be issued, mostly to ruling party loyals   At the fag end of its tenure, the government on Thursday decided to award 11 licences for new insurance companies, mostly to businesses loyal to the ruling party Awami League. The Insurance Development and Regulatory Authority at a board meeting on the day ... Read more

Lower demand for banks’ credit from the businesspeople pushed down further the credit growth in the private sector with its growth dropping to below 12 per cent in May year-on-year basis, according to the latest Bangladesh Bank data released on Thursday. The credit growth in the private sector slumped to

ONLINE TIN REGISTRATION NBR receives huge response in first 3 days The National Board of Revenue has received huge response regarding online registration for taxpayer identification number as around 10,572 individual and companies took new TINs and replaced old ones in the first three days after inception of the system on July 1, said NBR ... Read more

Atiur avoids answering questions about bank scams The Bangladesh Financial Intelligence Unit, a department of the Bangladesh Bank, has got the membership of Egmont Group, an international gathering of financial intelligence units. BB officials said the membership of the group would help Bangladesh in getting global support in fighting money-laundering, terrorist financing and

Primark, Tesco and Marks & Spencer were among 20 retailers summoned to a UK government summit as ministers sought steps to prevent a repeat of the Rana Plaza factory collapse in Bangladesh that killed over 1,000 people, said a Guardian report. The government wants to use its muscle to help drive

STOCKS REFINANCE SCHEME Fin min asks ICB to collect Tk 300cr 1st instalment from BB The finance ministry on Thursday asked the Investment Corporation of Bangladesh to collect the first phase of Tk 900 crore to implement the refinance scheme for the small-scale investors affected by the stock market crash in 2010. ‘The ministry has ... Read more

International lenders and donors disbursed $2.31 billion in loans and grants in the first 11 months of the just concluded fiscal year 2012-13 against their commitment to disburse $5.91 billion in the period, said Economic Relations Division officials. Disbursement of foreign loans and grants, however,

Bangladesh Telecommunication Regulatory Commission on Thursday set a standard rate for network-based discounts on call rates offered by the mobile phone companies to the subscribers. The rate will be fixed on the availability of the base transceiver station or network tower where the operators will provide real-time pricing data to the subscribers,

FOREIGN SUPPLIER’S CREDIT REPORTS BB ups invoice limit of ADs Bangladesh Bank has increased the invoice limit for the authorised dealer branches of scheduled banks to collect the credit reports of foreign suppliers. The BB on July 3 issued a circular to all the authorised dealer branches of the banks saying that it had been ... Read more

Japanese clothing giant Uniqlo will open its first two stores in the capital today for providing high-quality cloths at affordable prices which will be stitched locally. The initiative is part of a social business venture between global clothing giant Fast Retailing, which owns Uniqlo and Grameen Healthcare Trust which will be

Bangladesh Bank and all scheduled banks will remain open from 9:30am to 4:00pm during Ramadan, a BB news release said on Thursday. The banking transactions, however, will be 9:30am to 2:30pm with a 15-minute break from 1:15pm-1:30pm for zuhr prayers.