Month: May 2014

Bangladesh Bank on Thursday asked scheduled banks and payment service providers to preserve records of electronic fund transfer-related transactions for 12 years. To this end, the BB issued a fresh regulation Electronic Fund Transfer-2014 and a circular to the managing directors and chief executive officers of all

The North American retailers have so far inspected 80 per cent of 626 garment factories that supply products to them and two of the factories were closed down on safety grounds as per their recommendations. The Alliance for Bangladesh Worker Safety, the platform of the North American buyers, revealed the update of its inspection of garment ... Read more

The Appellate Division of the Supreme Court on Thursday stayed a High Court verdict declaring illegal a Bangladesh Securities and Exchange Commission notification that sponsor-directors of listed companies individually must hold minimum two per cent shares of the paid-up capital of their respective companies. The Appellate Division chamber judge, Justice Hasan

4 lakh users added in the month after March fall The number of active mobile phone subscribers in the country increased to 11.56 crore in April as private sector operators added four lakh new users in the month after fall in the previous month, showed the latest data of Bangladesh Telecommunication Regulatory Commission. The number ... Read more

Aims to prevent smuggling of the precious metal to India The National Board of Revenue is going to increase duty on import of each 11.66 grams or one bhari of gold bar under baggage rules to Tk 3,300 from the existing Tk 150, officials said. They said that the initiative was taken to prevent smuggling ... Read more

Lack of good and representative governance is the core problem in taxation for the coming budget for 2014-15 financial year, said speakers at a pre-budget discussion meeting on Wednesday. The governance situation is worst at the moment because of increasing incidents of abduction and killing, they said at a meeting jointly organised by the Institute of

The High Court on Wednesday declared illegal a Bangladesh Securities and Exchange Commission order that had asked sponsor-directors of listed companies to individually hold minimum 2 per cent shares of the paid-up capital of their respective companies. The bench of Justice Quazi Reza-Ul Hoque and

Local and foreign entrepreneurs are not encouraged to make new investment because of political uncertainty, badly hurting the growth prospects of the economy, said Metropolitan Chamber of Commerce and Industry on Wednesday. The main challenge for the government is to restore political stability, without which GDP growth will falter and it will

Scheduled banks other than the new nine banks and non-bank financial institutions will have to spend at least 2.5 per cent of their net profits for corporate social responsibility purposes in a fiscal year, said officials of Bangladesh Bank. The new nine banks will have to spend 10 per cent of their net profits for CSR ... Read more