Bangladesh has formulated its maiden tariff policy to improve the competitiveness of local companies in the international market as they brace for an increased competition after the country becomes a developing nation in 2026. 

Private sector employers have to contribute 50 percent of their employees’ monthly instalments under the universal pension scheme, said a gazette from the finance ministry yesterday.

Just over half of banks have yet to start adopting Bangla QR in spite of instructions passed by Bangladesh Bank on boosting cashless transactions across the country by this year. 

As a growing economy that needs to adopt clean technology, Bangladesh requires coordinated efforts and proper policy support to achieve net zero by 2050, said experts yesterday. 

Standard Chartered recently won the award “Best Bank in Bangladesh” by London-based Euromoney magazine at the Euromoney Awards for Excellence 2023 for launching inventive and impactful community projects, adopting a concentrated focus on accelerating zero carbon emissions and creating new opportunities for countless stakeholders.

MTB Foundation recently signed an agreement with Footsteps Bangladesh, a Dhaka-based social enterprise, for a project styled “Building Community Water Point at Ayla Patakata, Barguna”.

Prime Bank Ltd and the Industrial and Infrastructure Development Finance Company Ltd (IIDFC) recently signed an agreement on digital cash management solutions.

The claim settlement ratio of non-life insurance companies in Bangladesh slipped in 2022 due a liquidity crisis, reduced investment and lower returns on investment, according to industry people.

Some web-based services of the central bank would remain inaccessible from 8pm on Monday to 8am on Wednesday as it would carry out emergency system maintenance activities, said the Bangladesh Bank in a notice yesterday.

Mahbubul Alam, the newly elected president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has expressed his commitment to bolster trade and business in the country in the days ahead.

Nine foreign banks operating in Bangladesh hardly invest in the stock market owing largely to irregularities, speculation-driven investments and an inadequate number of well-performing companies that have gone public.  

Thailand’s inflation rate is the lowest among the seven Asean countries which have already announced their rates, with inflation for the whole year expected to range between 1 per cent and 2 per cent, according to Poonpong Naiyanapakorn, director of the Commerce Ministry’s Trade Policy and Strategy Office.

Refiners have cut edible oil and sugar prices by 3 percent or Tk 5 a litre/kilogramme.

Pubali Bank Ltd organised the “2nd Branch Managers’ Conference-2023” for Sylhet region’s officials of the bank at Sylhet Station Club recently.

Banks in Bangladesh were bottom-ranked in 2022 among South Asian lenders when it comes to capital base, owing largely to rising non-performing loans. 

A severe power shortage in Vietnam caused by an intensely hot spell and unprecedented drought in May and June cost the country $1.4 billion, according to the World Bank.

Dongwoo BD Ltd, a South Korean company, is going to set up a shoe accessories manufacturing industry inside Bepza Economic Zone (EZ) with an investment of $8.62 million.

Bangladesh Bank in a circular yesterday directed scheduled banks to follow a National Board of Revenue (NBR) clarification to cut source tax on the interest income or profit of mutual funds from associated fixed deposits with the banks. 

The government should facilitate the gold sector’s growth by allowing duty free imports through private sector entrepreneurs, said noted economist Ahsan H Mansur yesterday. 

Midland Bank Ltd signed an agreement with NEC Money Transfer Ltd, a UK-based Global Money Transfer Company, enabling the former to disburse hard earned remittances of NRBs living in different parts of the world from its branches and agent banking centres through NEC Money.