LCs were handed over to Tamim Agro, Shahjahan Mia, Nita Company and Abdul Matlub Ahmad

Bangladesh Bank is going to introduce dual currency Taka-Rupee card in September this year to allow travellers to make payments at home as well as in India

The move is likely give some respite to the importers since they will be able to open LCs in rupee to source a portion of the products from India

The BSCIC suffered a loss of Tk 25.32 crore in 2018-2019 and 2019-2020 as it did not realise dues related to service charges and lease money from a number of plot owners in several industrial estates, according to an audit report.

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.

The demand for anti-mosquito products, such as coils, aerosol sprays, nets and rackets, has increased in Bangladesh as people are looking to avoid dengue fever amid the recent outbreak, according to businesspeople.

Three firms -- Armada Spinning Mills Limited, Kingsway Endeavors Limited and Uniglobe Business Resources Limited -- sold off their entire shareholdings of over 14 crore shares, or 9.07 per cent, at Islami Bank Bangladesh Ltd (IBBL).

A meeting between the commerce secretaries of Bangladesh and India is likely to be held in Dhaka next month to review the progress towards signing a comprehensive economic partnership agreement (Cepa) to increase bilateral trade and investment.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is going to organise a conference focusing on the private sector’s role in building “Smart Bangladesh”, said the apex trade body yesterday. 

ICT trade bodies in Bangladesh yesterday urged the government to amend the recently approved Agency to Innovate (A2i) Bill 2023, scrapping the clause that empowers A2i to form companies.

The Japanese business philosophy of “kaizen” – literally, change (kai) for the good (zen) – advocates for a slow but consistent approach to change. A modification here, an innovation there, and continuous improvements will be gradually achieved.

Tanveer Ahmad has been elected as the vice-chairman of Islami Bank Bangladesh Ltd.

Mobile financial service (MFS) provider Nagad has recently reached a milestone of having eight crore customers in only four years of its operation.

Mutual Trust Bank Ltd and Grameenphone have signed a partnership agreement to introduce a touch-free automation system for mobile operator’s distributors with a bid to align with “Smart Bangladesh” vision.

An increasing number of countries are repatriating gold reserves as protection against the sort of sanctions imposed by the West on Russia, according to an Invesco survey of central bank and sovereign wealth funds published on Monday.

Preparations are underway by a board which would hold an election in Dhaka on July 31 to form the top management of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) for the 2023-25 term. 

Jute acreage in Bangladesh has increased this season as growers expanded cultivation, encouraged by better prices after last year’s harvest, according to the Department of Agricultural Extension (DAE).

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

The committee will submit report in seven days

Armada Spinning Mills Ltd, Kingsway Endeavors Ltd and Uniglobe Business Resources Ltd sold their 9.07% stakes in the bank