The interim government of Bangladesh yesterday issued a policy with the aim of raising non-tax receipts as revenue mobilisation in the country remains poor.

Non-bank financial institutions (NBFIs) in the past fiscal year saw their defaulted loans reach a record 33.15 percent of all disbursed loans, according to the central bank, indicating a fragile situation in the sector thanks to widespread loan irregularities and scams.

Bangladesh’s banking sector was not well-managed in recent years. Banks mostly gave loans to their owners, rather than to creditworthy entities. Consequently, several banks are now in difficulty.

Thirty-one organisations and individuals in 25 categories have been recognised and awarded for their excellence in Bangladesh travel, tourism and hospitality sectors

The BFIU also asked to suspend the transactions in the personal and privately-owned institutional accounts of Hanif

The commission recommended NBR cut sugar import duty to 15% from existing 30%

The Bangladesh Financial Intelligence Unit’s five-day deadline to submit the details ends tomorrow

Bonton Foods has selected Minnesota-based Land O’Lakes Venture37 to conduct the study

The DSEX edged down 1.53% from the previous day

The company will spend Tk 11.51 crore for the Bashundhara land and Tk 15.32 lakh at Narayanganj

The company attributed the drop to reduced earnings from international private leased circuit (IPLC) rent and IP Transit services, heightened market competition, and the prolonged disconnection of defaulted clients

The study highlighted that the damage represents 1.81 percent of the national budget for fiscal year (FY) 2024-25

Salehuddin Ahmed attends prize-giving ceremony of the Institute of Chartered Secretaries of Bangladesh (ICSB)

The number of banks in Bangladesh should be reduced from 61 to 30 as part of reforms in the sector, said Prof Moinul Islam yesterday.

Fallen dictator Sheikh Hasina used to regularly lament that she did a great job, but our civil society members were behaving dumb. A few of my friends were quite aggrieved -- our country made so many achievements, yet the Western media and opinion makers were not recognising any of those.

Businesses are worried over the interest rate of bank loans reaching double digits as it will increase the cost of doing business and subsequently affect profitability, the country’s business leaders stated yesterday.

Bangladesh can join hands with Malaysia to develop a sector that caters to global semiconductor industries, which can play a vital role in increasing export earnings, said Shabbir A Khan, president of the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI).

The Bangladesh Securities and Exchange Commission (BSEC) has asked the top officials of 14 listed companies to come to its office with related documents to explain why they declared but failed to pay dividends last year.

A platform representing three dozen local apparel manufacturers has demanded over $10 million payment for fashion items they supplied to the UK retail giant Debenhams.

About $809 million has piled up in a Bangladesh Bank escrow account to repay loans and interest for the Russia-funded Rooppur Nuclear Power Plant.