Saturday , 22 January 2022
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Category Archives: National Economy

Islamic microfinance to deepen financial inclusion Islamic microfinance can be used to bring marginal people under the banking umbrella as its interest-free concept would appeal to the segment, a banker said yesterday. “It would play into their sentiment,” said Rumee A Hossain, chairman of the executive committee of Bank Asia, which is gearing to roll out full-fledged Islamic finance activities. Hossain’s comments came at a ... Read More »

164 businesses get CIP status The commerce ministry has recognised 164 people as commercially important persons (CIPs) for the year 2013 for their contribution to export and economic growth of the country. Of them, 125 business people have been selected under product category and 39 under trade category. The ministry has already published a gazette mentioning their names, addresses and categories. The commerce ministry ... Read More »

Canada court finds no proof of Padma bridge bribery conspiracy Three former top executives of SNC-Lavalin have been acquitted in an international bribery case linked to Padma bridge construction in Bangladesh. An Ontario Superior Court justice dismissed the case yesterday at the prosecution’s request, reports CBCNews. Kevin Wallace, Ramesh Shah, and Zulfiquar Ali Bhuiyan had pleaded not guilty. Also READ: Dream coming true The case related to alleged bribery ... Read More »

3 banks to open branches in Saudi Arabia The central bank has given permissions to three commercial banks to operate in Saudi Arabia, the biggest destination of Bangladeshi migrants, to help workers send their money home easily through the banking channel. The Saudi government recently agreed to allow Bangladeshi banks to open branches there, in response to Prime Minister Sheikh Hasina’s request during her visit to the ... Read More »

UK to help Bangladesh boost jobs, trade: DFID The UK has announced an ‘Economic Development Strategy’ for 2017 to support developing countries including Bangladesh creates more jobs and increase international trade, the British High Commission in Dhaka says.  The DFID strategy sets out how investment in economic development would help developing nations “speed up their rate of economic growth, trade more and industrialise faster, and ultimately lift ... Read More »

Govt mulls fresh plan to raise $5bn through sovereign bonds

A fresh plan to raise $5bn by issuing sovereign bonds is being mulled by the government.  Financial Times-Lexicon defines sovereign bonds as bonds issued by governments. They can be either local-currency-denominated or denominated in a foreign currency, reports Dhaka It was not the first time the government has coined the idea. Also Read- Muhith: Issuance of sovereign bond not now  ... Read More »

Japanese firm to design 2nd railway bridge over Jamuna The cabinet committee has given the go-ahead to the railways ministry to appoint a Japanese firm as supervision consultant and for preparing a detailed design of a separate railway bridge on the Jamuna river. The government targets to build the 4.8 kilometre-long-bridge 300 metres upstream of the existing Bangabandhu Jamuna bridge at a cost of around Tk 9,734 crore ... Read More »

Bangladesh will be 23rd economy if…

The country can emerge as one of the world’s three fastest growing economies in the next three decades if mass education is ensured to raise productivity of youthful populations.  Highlighting Bangladesh’s potential until 2050, PricewaterhouseCoopers has put conditions of “sustained economic reforms” and proper “institutions” for attaining higher growth over a long period of time. Bangladesh is projected to become ... Read More »

Detailed survey needed to exploit potentials of blue economy: Speakers Speakers at a seminar today observed that the government must take an initiative to conduct detailed surveys and proper documentation for exploiting maximum benefits by utilizing the ocean resources properly. They observed this while addressing a seminar titled “Environmental Study by Visual Documentation of all Aspects of Blue Economy for Future Development Planning of the Coastal and EEZ Areas ... Read More »

Bank deposits rise despite falling interest rates

Bank deposits maintained a robust 13 percent growth year-on-year in December, despite declining interest rates, reports The Daily Star. Bankers and analysts attributed the deposit growth to a lack of popularity of alternative investment tools available in the market. The ease of converting deposits to cash and its safety also encourages people to park their money in the banking system, ... Read More »