The Forum for Economic Justice (FEJ) held a press conference and discussion meeting on proposals for establishing an eight-point economic reform agenda, forming a reform commission to address economic inequality, and recognising social ownership in the constitution. The event took place on Saturday (21-09-204) in the Sagar-Runi Hall of the Dhaka Reporters' Unity. The speakers emphasised that democratising the economy is the first and foremost condition for building an exploitation-free democratic state or society.
They stated that it is impossible to establish an egalitarian society while maintaining the existing ownership-based economic system. Therefore, the rights of the people to ownership of resources at all levels of society must be established, and fair distribution of profits...
The Islamic Development Bank (IsDB) is likely to come up with an overall support of around $4 billion to $5 billion to Bangladesh in various sectors for the next three years under its Member Country Partnership Strategy (MCPS) for the 2024-26.
Head of IsDB Regional Hub Muhammad Nassis Sulaiman informed this to reporters while replying to their queries after holding meeting with Adviser to the interim government on the Ministries of Finance and Commerce Dr Salehuddin Ahmed at his office at Bangladesh Secretariat today.
“As part of the Member Country Partnership Strategy (MCPS), the part of the plan is really for the next three years with a support of around $4 to $5 billion,” he said.
The United Kingdom (UK) today expressed their keen interest to help Bangladesh reform its banking and revenue sectors alongside the capital market.
The interest surfaced as the UK High Commissioner to Bangladesh Sarah Cooke called on Finance Adviser to the interim government Dr Salehuddin Ahmed at his Economic Relations Division (ERD) office in the city.
After the meeting, the finance adviser said the UK is willing to help Bangladesh reform sectors like banking, revenue and capi...
Although government banks and organizations hold 51% of the shares in Bangladesh Commerce Bank, the controversial conglomerate S Alam Group has effectively taken control of the bank. They have misused their influence to appoint the bank's chairman and managing director. Furthermore, the bank owes Tk 13 billion to other banks and financial institutions owned by S Alam Group.
According to sources, S Alam Group did not borrow money directly from Bangladesh Commerce Bank. Instead, the bank provided Tk 6.10 billion to other banks owned by S Alam Group, and the conglomerate withdrew this amount, either under different names or anonymously. In addition, Tk 7 billion remains stuck in financial institutions owned by S Alam and
The BBIN (Bangladesh, Bhutan, India and Nepal) initiative, officially launched in 2015, was created to tackle the logistical and economic challenges that have historically hindered South Asia's development. A key objective of the initiative is to strengthen economic collaboration. By streamlining the cross-border flow of goods and services, the initiative can greatly lower transportation expenses and reduce transit durations. This is especially important for landlocked nations such as Bhutan and Nepal, which depend heavily on neighboring countries for access to global markets. Improved connectivity can facilitate trade, investment, boost regional tourism, and create jobs, all of which will contribute to the economic growth of the region, according to the editorial of the current News B...
The Bangladesh Bank has announced its decision to dissolve the board of directors of Islami Bank in the coming days and place all shares owned by S Alam Group and its affiliates under government control. Governor Dr. Ahsan H Mansur made these announcements during a press conference on Wednesday, stating that a new board of directors will soon be formed for Islami Bank.
In the meantime, independent directors from S Alam's other six banks will be temporarily moved to Islami Bank. Dismissed directors...
