AKM Zamir Uddin

The central bank yesterday allowed “Type-B” companies in export processing zones (EPZs) to enjoy foreign currency loans from an export development fund (EDF).

The central bank yesterday imposed a dividend cap of 30 per cent on non-bank financial institutions (NBFIs).

The central bank has proposed the National Board of Revenue (NBR) to consider the profits earned by individual investors from their investment in the Islamic bond as tax-free income.

The country’s ballooning foreign exchange reserves may come under stress if the infrastructure projects to be bankrolled by the excess external capital are not monitored properly, experts warn.

Businesspeople will be sentenced to seven years in prison if they make the wrong declaration on exports, imports and investment abroad as the government has moved to rein in trade-based money-laundering, which costs Bangladesh billions of dollars every year.

Import of capital machinery, industrial raw materials and intermediate goods is yet to get momentum despite the pickup in economic activity in Bangladesh because of the persisting coronavirus pandemic.

Net profit in the banking industry plunged 44 per cent year-on-year to Tk 5,279 crore last year because of the massive loss incurred by state-run Janata Bank.

Muhiuddin Khan Alamgir, founder chairman of Padma Bank, has accused incumbent Chairman Chowdhury Nafeez Sarafat of misusing Tk 100 crore from the troubled lender.

After receiving his monthly salary through a bank account, Siddique Ahmed Rubel, an employee of a nongovernmental organisation, used to withdraw a large portion of his earnings through ATM booths in order to meet expenses.

Banks will have to embrace digital means extensively compared to what they have adopted so far to digitalise services, or else they will be unable to keep their businesses afloat, said a top banker.

Excess liquidity in the banking industry that ballooned because of pandemic-induced lower credit demand and an injection of funds under a massive stimulus package fell in January, the first time in eight months.

Bangladesh Bank has asked banks and non-bank financial institutions (NBFIs) to sever ties with CTO Forum Bangladesh as the latter’s president spread false information on the capability of lenders in tackling cyberattacks.

Internet banking transactions have surged in recent months as people increasingly embraced the digital mode while opting not to visit branches.

In a baffling move, the Bangladesh Bank has asked Premier Leasing & Finance Ltd not to officially release its managing director, Abdul Hamid Mia, although he has submitted a resignation letter.

Bangladesh’s image will shine out amidst the global community on the back of the United Nations recommendation for its status graduation from a least-developed country to a developing nation.

In his famous book titled “The Old Man and The Sea”, US writer Ernest Hemingway said, “But man is not made for defeat. A man can be destroyed but not defeated.”

The passing of Khondkar Ibrahim Khaled will create a vacuum in the country’s financial industry for he was outspoken when it came to raising a bold voice against scammers in banks.

At a time when raising voice against financial scammers is challenging given the immense influence enjoyed by the vested quarter, Khondkar Ibrahim Khaled took a bold stance against swindlers in the banking sector. He became a torchbearer by way of giving his valuable recommendations to protect financial institutions from delinquent borrowers.

The High Court yesterday came down heavily on a section of Bangladesh Bank officials over their alleged links with financial scams involving People’s Leasing and Financial Services Ltd (PLFSL), a non-bank financial institution.

The chairman of a non-banking financial institution, central bank officials, and an audit firm are giving different statements about a scam involving Tk 6.5 crore.