The implementation rate of the government's annual development programme (ADP) fell 6 percentage points in the first eight months of the current fiscal year compared to the same period a year ago. Despite the fall in the ADP implementation rate, ministries and divisions are now pressing for more allocation, reports the Daily Star. The National Economic Council at a meeting on April 3 will decide whether additional allocation will be ...

The dollar again started to depreciate against the taka from February 26 this year, after a steady run in the previous nine months, despite the fact that Bangladesh Bank in a frantic effort to keep the price of the dollar stable purchased greenbacks worth $3.63 billion from the local banks in this fiscal year. The BB data showed that the dollar depreciated frequently in the month of March as it was quoted at Tk 77.68 to Tk 77.70 on March 20 while it was quoted Tk 77.75 to Tk 77.75 on February 26 this year, reports the New Ag...

The quality of system-generated information affects management’s ability to make appropriate decisions in managing and controlling the entity’s activities and to prepare reliable financial reports. Technology is often the most important enabler of business processes and could help to enhance the credibility of the information in the financial reports. Emphasizing  on technology based business information of the companies, speakers said this at a seminar on ‘Conducting Audit in an Automated Environment’ organized by the Institute of Chartered Accountants of Bangladesh at its auditorium on Wednesday.

Banks will be able to make instant settlement of foreign currency and government securities-related transactions as well as local currency transactions when Bangladesh Bank will introduce the ‘real-time gross settlement’ system by July next year. According to a BB report, the RTGS system will replace the existing deferred net settlement system under which banks settle transactions in 1-2 days. The RTGS is an electronic settlement system where transfer of funds or securities takes place from one bank to another on a real-t...

Bangladesh Bank (BB) on Monday revised up the foreign exchange quota for businessmen.  The central bank in a circular said exporters, importers and producers for the local market would be entitled to foreign exchange quota for travel abroad at $400 per diem, subject to limits of $4,000 per trip and $10,000 over a calendar year. Besides, exporters will also be entitled to use balances in their foreign currency retention quota account for their business visits abroad. Top two tiers senior level expatriate foreign nationals ...