Ahsan Habib

A number of life insurance companies in Bangladesh struggled to settle claims in 2022 due to a lack of liquidity resulting from bad investments and fund embezzlement by their chairmen and directors.

Most of the listed multinational companies operating in Bangladesh witnessed higher profits and sales in the April-to-June quarter despite persisting economic challenges at home and abroad, inflationary pressures and higher raw materials prices.

Once, the banking sector was meant for physical presence in the branch, and waiting in a long queue to deposit and withdraw funds.

FBCCI president says

To diversify export destinations, Bangladesh needs to take up a comprehensive plan and coordinate efforts focusing on every country that bears potential, said Md Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association.

The government awarded licences to set up new nine banks in 2013 despite criticism from analysts and economists and initial reservations from the central bank since the number of lenders was already high in Bangladesh and approvals were largely given on political consideration.

Bangladesh and India began settling cross-border trades in the Indian rupee (INR) last week, a development that has been hailed as a landmark for the growing bilateral commerce in general and for Bangladesh in particular.  

One has to visit China to discover its incredible diversity and breathtaking beauty.

Fu-Wang Foods Limited stocks surged 83 per cent in the span of nine trading days despite repeated warnings from the company that it has no undisclosed information that could contribute to such a jump. 

Around 6.56 lakh beneficiary owner (BO) accounts, which are needed to trade stocks, were closed over the last two years mainly due to a lacklustre condition of the primary and secondary markets of securities in the country. 

At a time when almost all of the local banks in Bangladesh are grappling with higher non-performing loans (NPLs), most foreign lenders have been able to keep the default rate in check.

13 have NPL below 3%, much lower than the sectoral ratio of 8%

The trading of treasury bonds in the stock exchange of Bangladesh has remained low although eight months have passed since their debut on the secondary market, owing largely to higher transaction costs and a lack of awareness among individual investors.

A strong legal system is required to end the default culture and stop defaulters from using writs to defer loan repayments and secure fresh credits, said Abdul Hai Sarker, chairman of Dhaka Bank Ltd. 

The main index of the stock market in Bangladesh remained relatively unchanged over the past fiscal year as most scrips were stuck at their floor price, according to market analysts.

Although the national poverty rate dropped in 2022, it rose in Dhaka, Barishal and Sylhet divisions. 

Loan recovery by non-bank financial institutions (NBFIs) dropped in the January-March period as businesses are facing the detrimental effect of a challenging business scenario amid the devaluation of the local currency and electricity shortages.

Islamic banking has garnered people’s attention with robust growth over the last decade as a large number of people in Bangladesh prefer the Shariah-based banking system for their financial transactions.

The proposed income tax law has sought to make it mandatory for taxpayers in specific cases to add the statement of their living expenses with their tax returns.

Corporate and foreign investors may further lose interest in the stock market of Bangladesh as the country has dropped a notch in the Moody’s Investors Service rating system.