Central bank for action against BASIC Bank Board
The central bank has advised the government to take action against the board of directors of state-run BASIC Bank, as the governing body was found guilty of committing large-scale irregularities in approving loans, and in recruitment and promotion.
Bangladesh Bank Governor Atiur Rahman yesterday sent a letter to Finance Minister AMA Muhith to initiate steps against the board after all efforts to discipline the once good-performing bank went in vain.
Talking to reporters at the secretariat, the minister said he was yet to see the letter but the BB governor had told him about it. In reply to a query, Muhith said the board of BASIC Bank would be restructured soon, reports the Daily Star.
![]()
EPZs to reserve plots for Japanese investors
Bangladesh offered 40 industrial plots in export processing zones exclusively to Japanese entrepreneurs as they have been showing interest for a long time now.
Bangladesh Export Processing Zones Authority (Bepza) and Japan External Trade Organisation (Jetro) signed an agreement to this effect in Tokyo yesterday in presence of Prime Minister Sheikh Hasina.
Under the deal, Bepza will reserve industrial plots at the Ishwardi, Mongla and Uttara EPZs for the Japanese investors, reports the Daily Star.
[caption id="attachment_6853" align="alignleft" width="300"]
Remittance from Middle East falls by 12pc
The country received US$6.92bn in July-April period in fiscal year 2013-14 compared to $7.87bn in the same period of the last fiscal year
Remittance inflows from the Middle Eastern countries dropped by 12% in the last 10 months of the current fiscal year due to the fall in manpower export and the political unrest over January 5 polls.
The country received US$6.92bn in July-April period in fiscal year 2013-14 compared to $7.87bn in the same period of the last fiscal year reports The Dhaka Tribune.
However, remittance inflow from the Western countries increased by 8% to $4.80bn during the 10 months from $4.43bn in the same period of the previous fiscal year, according to the Bangladesh Bank data.
Export privileges to US sought on climate vulnerability grounds
Citing its increasing vulnerability to the impacts of climate change, Bangladesh has sought exemption from quotas and duty for all its exports to the United States.
US trade representatives have said they will consider the call for “duty free, quota free” privileges, according to Bangladesh’s commerce secretary, Mahbub Ahmed.
Such a rule change, if adopted, would make Bangladesh one of the first countries to receive duty reductions for “economic vulnerability” because of climate change.
Increased ...
Increased ...
BoP surplus dips 16pc in current FY
According to an official, Bangladesh's overall balance of payment (BoP) surplus has declined 16 percent, reaching USD3.89 billion in the first three quarters of the current financial year which ends in June 2014, Xinhua reported.
"Overall BoP registered a surplus of USD3.885 million in July-March period of 2013-14 fiscal year (July 2013- June 2014)," an official at The Bangladesh Bank (BB) said.
In the first three quarters of the last 2012-13 fiscal year (July 2012-June 2013) Bangladesh's BoP surplus reached USD3.948 million, he added.
The BB official attributed th...
"Overall BoP registered a surplus of USD3.885 million in July-March period of 2013-14 fiscal year (July 2013- June 2014)," an official at The Bangladesh Bank (BB) said.
In the first three quarters of the last 2012-13 fiscal year (July 2012-June 2013) Bangladesh's BoP surplus reached USD3.948 million, he added.
The BB official attributed th...
$7225m required for agri development master plan
An investment of about $ 7,225 million is needed to implement the priority programmes of the Master Plan for Agriculture Development in the country’s southern region during the 2013-2021 period.
This was revealed at a presentation on the master plan to apprise the development partners at the NEC 2 at the city’s Sher-e-Bangla Nagar on Sunday, reports UNB.
The government with technical support from FAO has prepared the master plan, aimed at sustainable food security, poverty reduction and livelihood development for the poor. This is a roadmap for integrated agricultural development in the country’s coastal zone.
