No official of Islami Banks can be on Shariah Board anymore

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

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

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

Bank Asia to revoke Elite Paint loan for hiring lobbyist firm

The Bank Asia Ltd. has decided to revoke a loan worth Tk 140 crore sanctioned for the renowned paint manufacturing company, Elite Paint, after it was disclosed that the company hired a lobbyist firm to pursue the loan, official sources said. Elite Paint, managed to get the loan sanctioned by hiring