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.

Euro zone business activity received a boost from France hosting the Olympic Games last month but the malaise in the bloc is likely to return once the Paralympics wraps up as demand remains weak, a survey showed.

Mohammad Jainul Bari, chairman of the Insurance Development and Regulatory Authority (IDRA), yesterday informed that he would resign today.

“Trade wars are good, and easy to win,” Donald Trump tweeted in March of 2018 when he was US president, just months before kicking off in earnest one of the largest trade conflicts in modern history.

Rice acreage and production in Bangladesh are likely to decline because of recent floods, which would affect paddy of the Aus and Aman seasons, said the US Department of Agriculture (USDA) at the end of last week.

The Bangladesh Bank yesterday constituted a new board of directors at IFIC Bank after dissolving the previous board, effectively bringing an end to Salman F Rahman’s grip on the private commercial bank.

Social Islami Bank Managing Director Zafar Alam and Deputy Managing Directors Habibur Rahman and Khorshed Alam resigned from their respective posts yesterday.

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)

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.