The WB said before initiating any merger processes, detailed guidelines on mergers and acquisitions need to be issued, allowing banks a clear idea about the process involved

The central bank of Bangladesh has tightened the monetary policy but its transmission has been hindered by the SMART lending rate cap since it slows pass-through to lending rates due to the use of a moving average, the World Bank said in a report today.  

Bangladesh’s real GDP growth is projected to remain relatively subdued at 5.6 percent in the current fiscal year, compared to the average annual growth rate of 6.6 percent over the decade preceding the Covid-19 pandemic, the World Bank said today.  

The recently updated Income Tax Act (2023) is an opportunity to increase income tax collection by expanding the tax base through improved compliance and tax services, it said in its Bangladesh Development Update report

The interest costs for domestic loans increased 13.58 percent to Tk 42,313 crore while the same for foreign credits surged 195.81 percent to Tk 7,910 crore.

Subject to eligibility, customers can instantly borrow Tk 500 to Tk 30,000 to directly buy a product or service. No interest will be imposed if the loan is repaid within seven days.

Some 12,375 farmers in 26 districts will be provided free-of-cost incentives in the form of hybrid cotton seeds, urea, Diammonium phosphate (DAP), Muriate of Potash (MoP), and pesticides.

Mobile network operators -- Grameenphone, Robi, Banglalink and Teletalk -- collectively added about 9.2 lakh customers during the month, taking the total mobile subscriber base to 191.3 crore.

In its daily market update, Shanta Securities said the market movement was driven by negative changes in the market capitalisation of travel and leisure, paper and printing, and bank scrips.

Nagad Digital Bank has issued 12.50 crore shares among seven sponsors. Of them, three companies -- Osiris Capital Partners (USA), Blue Haven Ventures (USA) and Finclusion Ventures Pte Ltd (Singapore) -- hold more than 10 percent shares.

In the thriving economy of Bangladesh, expanding the startup ecosystem and the quest for financial bootstrapping methods stands as one of the fundamental gateways to success.

The National Board of Revenue (NBR) has issued a gazette notification stipulating that imports have to be declared well in advance of the previous deadline for notifying of their arrival, all to reduce false declarations and enable quick releases.

The government has framed rules for tour operators and guides in order to give the key cogs of the tourism industry a formal shape and tap the sector’s potential in Bangladesh.

The Trading Corporation of Bangladesh (TCB) will start selling Indian onion at Tk 40 per kilogramme (kg) in Dhaka, Gazipur and Chattogram cities from tomorrow.

Remittance fell 1.23 percent year-on-year to $1.99 billion in March although inflows usually go up on the occasion of Eid, Bangladesh Bank data showed

Taisheng (Bangladesh) Webbing Ltd, a Chinese company, is set to invest $6 million at the Bepza Economic Zone in Chattogram’s Bangabandhu Sheikh Mujib Shilpa Nagar

The profit was Tk 1.73 crore in the identical quarter of October-December in 2022-23. Thus, earnings per share rose to Tk 0.2 from Tk 0.19, according to a filing on the Dhaka Stock Exchange yesterday. 

The reserves stood at $19.45 billion on March 27 whereas it was more than $41 billion two years ago.

The decision comes as the SMART crossed the double-digit mark and stood at 10.55 percent at the end of March, reflecting the tighter liquidity situation in the financial sector of Bangladesh.

CBDCs are a form of digital currency regulated by a country's central bank. They are similar to cryptocurrencies, but their value is fixed by the central bank.