Banking Companies Act likely to bring ambiguities
In terms of comprehensiveness, precision and clarity, the Banking Companies (Amendment) Act 2013 is likely to bring ambiguities among the stakeholders; the shortcomings of the Act, therefore, should be addressed immediately to ensure proper corporate governance in the banking sector, opine speaker at a conference organized by Institute of Chartered Accountants of Bangladesh (ICAB) at its auditorium in the city on Friday.
Md. Habibur Rahman Bhuiyan FCA, Deputy Managing Director, Islami Bank Bangladesh Ltd and S.M. Abdul Hamid, FCA, Deputy Managing Director and CFO, IFIC Bank Bangladesh Ltd jointly presented the keynote in the conference titled ‘Changes in Banking Companies (Amendment) Act 2013 and its Analytical Review & Impact’.
Emerging markets look at ESG issues after RMG blow in Bangladesh
Investors in emerging market companies are looking more closely at environmental, social or governance (ESG) issues before they buy as the Bangladesh factory collapse.
Cajoled by developed world governments and shocked by disasters, almost all emerging fund managers in a survey by UK development finance arm CDC to be published this week consider ESG to be integral to their investment strategy, and in many deals they regard it as a “fact of life”.
It is a sharp contrast to a few years ago, when emerging market investors saw sustainable strategies as an irritant imposed by worthy multilateral lenders, or “the dead hand of eco-fascism”, according to CDC’s ESG director Mark Eckstein.
Once the preserve of religious and ethically minded funds and the development finance arms of major...
Loan classification policy likely to be relaxed
The loan classification policy of Bangladesh Bank will most likely be relaxed this month, indicated Finance Minister AMA Muhith.
The move comes in response to demands from garment exporters, who are left staring at huge losses after months of severe disruptions to their businesses owing to political turbulence.
They said the current loan classification policy, which marks a loan to be classified when the repayment period overshoots by three months, is “killing” them. Although they are still eligible for new loans, the banks put excessive pressure on them to make their payments, reports the Daily Star.
“I think we will have to do something about it,” the minister said during a meeting with top leaders of the three main garment manufacturers...
Poultry Industry demands loan rescheduling, interest exemption
The poultry industry of the country has demanded the rescheduling of bank loans, exemption of bank interest and financial incentives to recover losses due to ongoing hartal and blocked.
The leaders of the poultry industry said, the sector has suffered a loss of more than Tk 4,000 crore in the last three months due to political instability.
This was disclosed at a press conference on Wednesday organized by Bangladesh Poultry Industries Coordination Committee (BPICC), a body of six major poultry associations, at National Press Club in th...
This was disclosed at a press conference on Wednesday organized by Bangladesh Poultry Industries Coordination Committee (BPICC), a body of six major poultry associations, at National Press Club in th...
IBFB suggests adequate measures to safeguard economy
The International Business Forum of Bangladesh (IBFB) and its President Hafizur Rahman urged Bangladesh Bank to take adequate financial measures to safeguard economy and business of the country during the ongoing volatile political situation.
In a recent proposal sent to the Governor of Bangladesh Bank, IBFB strongly suggested some special financial measures such as extending the deadline for CIB Reporting, rescheduling bank loans, reducing lending rate up to 10 per cent or below, bringing down the interest rate spread below 4.0 per cent etc. IBFB, as mentioned in the proposal, strongly believes that in a growing democratic country like Bangladesh peaceful and business friendly environment is a sine qua non for ensuring the development wheel rolling on through which trades and busine...
Guidelines for agent banking issued for more financial inclusion
Bangladesh Bank (BB) has issued guidelines on agent banking seeking applications from the commercial banks to start such banking business in the country.
The commercial banks will now be allowed to introduce agent banking for strengthening their ongoing financial inclusion programme through bringing un-banked people into the banking channel, reports the Financial Express (FE).
“We’ve introduced the guidelines aiming to provide regulatory framework for the agent banking which will create an enabling environment for offering safe financial services to the new target group,” BB Executive Director Das Gupta Asim Kumar told the FE.
He said people, who are living in remote and hilly areas, would avail banking services including...
