Bangladesh Bank has made a new guideline for Islami banks in which no official of banks can be a member of the Shariah Board, BB sources said. According to the existing guideline, Islami banks will form an independent Shariah Board. It only mentions the academic qualification of the members. The guideline
Author: Jahangir Alom Ansary
Govt seeks to strengthen trade ties with Latin America
The government has taken initiative to strengthen trade relations with the Latin America’s countries as part of a plan to widen the export market, said foreign ministry sources. After Corona pandemic, Prime Minister Sheikh Hasina instructed the concerned officials to look for new markets abroad to export medicines, plastic products, leather
Govt resorts to public diplomacy against propaganda
The government has given importance on public diplomacy to counter anti-Bangladesh propaganda abroad and spreading of misinformation against the development activities. In the light of the government’s instructions, the Public Diplomacy Wing of the Ministry of Foreign Affairs has taken various steps to raise the image of the country to
SIBL opens back-to-back LCs for unlicensed companies
The Social Islami Bank Limited (SIBL) has given back-to-back LC facilities worth Tk 16,630 crore to two companies in Gazipur without required bonded warehouses licenses, official sources said. In case of duty benefited back to back LCs, there is an obligation to export goods, but no goods were exported by
Default loans jumps 7.29pc in Sept qtr
7 Homeland Life Insurance directors held for non-payment of claims
Seven directors of the Homeland Life Insurance Co. Ltd were arrested on charge of non-payment of claims by the customers creating huge sensation in the insurance sector of Bangladesh, police sources said. The accused company directors are Abdur Rob, Jamal Uddin, Kamal Mia, AbdurRazzaque, Jamal Mia, Abdul Hai and FoyzulHaque. They
Forex outflow sans imports rises 33pc
The outflow of foreign exchange, excluding imports, rose 33 percent to US$1,659 in the first 11 months of FY22 from $1246 during the same period of the previous fiscal, official sources said. The dollar outflow took place on accounts of expenses for traveling, education, medical treatment, information service and outward remittance,
Bank Asia to revoke Elite Paint loan for hiring lobbyist firm
Country’s forex reserve falls to $37.27b
The country’s foreign exchange reserve fell to US$37.27 billion from $38.94 billion on Thursday after making a payment worth $1.73 billion to the Asian Clearing Union (ACU) for the month of July and August 2022, official sources said. Bangladesh made the last ACU payment worth $1.96 billion on July 12 for
LC opening, settlement fall further in August
Both settlement and opening of Letter of Credit (LC) declined in August as in the previous month following the government’s import cost containment policy, official sources said. LCs worth $531 crore were opened in August, which were $555 crore in July, according to the latest data of Bangladesh Bank. Besides, LCs