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Economy

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...

Foreign venture optimistic to participate in BD telco market

Bangladesh has discovered a way to grow its telecom sector in spite of some odds. The nation of more than 150 million people, with its comparatively low GDP per capita, has been involved in the creation of a very competitive mobile telco market. Most noticeable has been the willingness of Bangladesh to encourage foreign participation in these endeavours. Bangladesh though remains one of the poorest, most densely populated, least developed countries in the world; yet it has somehow managed to show considerable spirit in the development of its telecom sector. BD Telcom

BB to provide $ 25m to Standard Group

Bangladesh Bank (BB) will provide $ 25 million loan assistance to Standard Group to recover the losses in recent arson attacks on the group’s readymade garment (RMG) factory at Gazipur industrial belt. The decision was taken at a multipartite meeting among BB officials, Standard Group management, CEOs of five commercial banks and BGMEA representatives at Bangladesh Bank Bhaban. Standerd GarmentBB governor Atiur Rahman, BGMEA (Bangladesh Garment Manufacturers and Export...

New 22 border ‘haats’ proposed at Meghalaya border

To create economic opportunities for the people living along the Bangladesh –India border in Meghalaya, the Indian authority is keen to set up 22 more border ‘haats’ (markets). Meghalaya Chief Minister Mukul Sangma said, we have sought for the establishment of 22 new border haats along the international border which would not only create economic opportunities, but would also cement bonds between the people living along the borders. Meghalaya already has two border haats - one at Kalaichar in Meghalaya’s West Garo Hills district and Baliamari of Bangladesh’s Kurigram district, and another in Balat (in East Khasi Hills district) and Lauwaghar (Dalora) in Bangladesh’s Sunamganj district.

Over alert in commercial banks hampers credit flow to pvt sector

The much needed credit flow for the private sector is very low and depressing due to  over cautious steps taken by the commercial banks, said ICCB President Mahbubur Rahman while inaugurating the ICC workshop on ‘Credit Risk Management & Trade Finance’ organized by International Chamber of Commerce (ICC) - Bangladesh, the world business organization at a local hotel in the city on Saturday (07-12-2013). ICCB President said, a number of state-owned and private commercial banks are faced with huge loan default due to fraudulence practices by some officials of few commercial banks (both public and private) in connivance with some ill-motivated unscrupulous clients. ‘More than Tk.4,000 crore have been siphoned out from two s...

July-Sept exports to Europe post modest growth

Key destinations of country’s export market like Germany, UK and France a posted modest growth in the first quarter (July-September) of the current fiscal (2013-14) as compared to the same period of the last fiscal (2012-13). In July-September of the current fiscal, exports to Germany totaled $ 1,237.60 million, which was 16.22 percent of total export earnings for the three-month period. Of the amount, knitwear accounted for $ 701.65 million, woven garments $ 440.66 million and frozen shrimp $ 23.27 million, according to latest figures released by the Export Promotion Bureau (EPB). The EPB figures showed exports to the UK during July-September totaled $ 729.37 million, which was 9.56 percent of the total export earnings for ...
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