Customers of Shariah-based banks yesterday urged the authorities concerned to bring back funds of Islami Bank Bangladesh which have allegedly been misappropriated by S Alam Group and ensure legal steps against the group’s owner Mohammed Saiful Alam and those who abetted him..The customers,

The restrictions on managing directors (MDs) and chief executive officers (CEOs) from travelling abroad have been withdrawn.

A new governor has joined the central bank of Bangladesh. As a leading macroeconomist, he has rightly identified inflation and the lack of discipline in the banking sector as the main culprits to be addressed. Both issues are very important, there’s no doubt about it.

Six foreign fuel suppliers are piling pressure on Bangladesh Petroleum Corporation (BPC) to clear outstanding dues amounting to nearly half a billion US dollars, but a forex crunch in local banks is proving to be a major barrier to timely payments.

More than 3.37 lakh hectares of cropland have been affected in Bangladesh due to flash floods induced by heavy rains and the rush of water from upstream, the agriculture ministry said in a report yesterday. 

At least Tk 127 crore owed by e-commerce companies to customers as refunds has been stuck in payment gateways since 2021, according to the commerce ministry documents.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday elected a new president after SM Mannan (Kochi), the immediate past president, resigned on health grounds.

A memorandum of understanding (MoU) signed between the Bangladesh Sugar and Food Industries Corporation (BSFIC) and S Alam & Co, aimed at modernising ailing state-run sugar mills, has been cancelled by the government. 

Transport activities, including movement of imported goods and those meant for exports, have been halted since Thursday as the Dhaka-Chattogram highway, the lifeline of the country’s economy, has been submerged by flash floods brought on by heavy rainfall and the rush of water from upstream.

Some 6,552 litres of diesel are consumed daily to power 78 generators in Feni

The accounts of Mintoo, his wife and son were blocked on August 1 in 2007

The election took place in a meeting of the board of directors of CDBL on Thursday

Bangladesh is in talks with the International Monetary Fund for an additional $3 billion loan, according to BBC and Bloomberg reports.

Although the need to diversify Bangladesh’s export basket has been a subject of great discussion for more than two decades, there has been little progress in this regard.

Stock markets in Bangladesh rebounded yesterday, snapping a five-day losing streak on the back of an appreciation of banking shares..Shares of banks like Islami Bank Bangladesh, BRAC Bank, City Bank, Pubali Bank and National Bank drew investors the most along with the shares of BAT Banglad

In Bangladesh, gossip is a national pastime, both inside and outside the workplace. During tea breaks, or “cha breaks”, employees gather to exchange the latest news, often drifting from work-related topics.

Bangladesh will become a major export market for soybean products as the changing dietary habits of its growing middle-income population are boosting demand, according to an expert on the industry.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has sought cooperation from the army to prevent extortion and strengthen security around industries and business establishments.

Bangladesh Bank (BB) is expected to hike the policy rate or repo rate by 50 basis point to 9 percent from the existing 8.50 percent next week to tame skyrocketing inflation.

The Bangladesh Post Office (BPO) owns Nagad and it has now been taken over as a government organisation, Bangladesh Bank Governor Ahsan H Mansur said yesterday.