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Economy

RMG factory owners agree to pay Tk 5,300 wage

Owners of ready-made garment factories on Wednesday night agreed to pay Tk 5,300 in minimum wage for entry-level workers. The announcement came after a meeting of representatives of the garment owners with Prime Minister Sheikh Hasina at her official residence Ganobhaban, chief of the apparel trade body said. “Yes, we’ve agreed to the new minimum monthly wage,” M Atiqul Islam, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) told UNB over phone. rmgHe said it will be decided in a day or two as to from which month the ...

Decisions to be taken in Nov to help RMG sector

Netherlands Ambassador to Dhaka Gerben De Jong on Wednesday said this November is extremely important for further development in the readymade garment sector as two important decisions will be taken during the period which will help Bangladesh become the number one producer in the world. “Because, in November there are two decisions to be taken – one on joint standards to inspect factories and secondly the discussion on the minimum wage,” the envoy told a function in the city. Ned envoyJong said it will be very difficult to explain in Euro...

BB to provide loans with low interest for creative publishers

Bangladesh Bank (BB) said on Tuesday that from now on scheduled banks and non-bank financial institutions would be able to disburse loans from a Tk 600-crore BB fund to the micro and small enterprises dedicated to publishing knowledge-based and creative books and their marketing. The BB issued a circular to managing directors and chief executive officers of all banks and NBFIs saying that the publishers would be able to receive loans with an interest rate of 10 per cent from the banks and the NBFIs under the BB refinance fund. bbThe banks and the N...

$ 8m local investment in CEPZ

A local company namely Arrow Jeans (Pvt) Ltd (Unit-1) is going to set up a readymade garments  industry in Chittagong EPZ. This company will invest $ 8 million for setting up their plant with annual production capacity of 3 million dozens of Casual Jeans, Trouser, Dress Pants, Skirt, Shorts, Jacket, Vest, Ladies Blouse, Blazer & Jump Suits. BEPZAArrow Jeans will create employment opportunity for 1804 Bangladeshi nationals, says a press release. An agreement to this effect has signed between Bangladesh Export Processing Zones Aut...

Bangladesh a role model of financial inclusion -IBBL MD

“Financial Inclusion is a built-in concept of Islamic Finance and Bangladesh has become a role model of financial inclusion for the Islamic financial world”, said, Mohammad Abdul Mannan, Managing Director of Islami Bank Bangladesh Ltd (IBBL) while addressing the First ever ADB conference on Islamic Finance for Asia held at the ADB Headquarters, Philippines on 4-5 November 2013. Organized jointly by Asian Development Bank (ADB) and Islamic Financial Services Board (IFSB), the conference was attended among others by President of ADB,Takehiko Nakao; Jashim Ahmed, Secretary General of IFSB; Rajat M. Nag, Managing Director General, Asian Development Bank; Bruce Davis and Stephen P. Groff, Vice Presidents of ADB;  Dr Ishrat husain, ex-chairman of IFSB and ex-Governor of State Bank of Pakis...