Strategic changes in supervision techniques to check banks’ misddeds
Bangladesh Bank (BB) Governor Dr Atiur Rahman said the central bank has started introducing strategic changes in its existing supervision techniques for ensuring financial stability to check financial irregularities in the banking system.
“Some recent financial irregularities in the state- controlled banks in particular threaten to taint the image of the Bangladeshi banking system and its regulator,” said the governor while opening the Annual Banking Conference 2013 organised by Bangladesh Institute of Bank Management (BIBM) on Sunday.
Bangladesh key economic indicators – Nov 24
DAILY INDICATORS
Thursday Previous Taka/US $ (inter-bank) 77.75-77.75 77.75-77.75 Call money rate (inter-bank) 06.00-08.00 05.50-08.00 Dhaka Stock Exchange index 4,395.94 4,439.59 ------------------------------------------------------------
MONTHLY
CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Oct. 7.03 7.13
M2 supply (bln taka) (BB) Sept. 6,267.23 6,199.89 Forex reserves ($bln)(BB) Oct. 17.35 16.15
Exports(FOB) ($mln)(BB) Sept. 2,590.24 2,031.44 Imports(FOB) ($mln)(BB) August 2,658.00 3,125.00 ------------------------------------...
Belarus ratifies double taxation deal with BD, plans warehouse
The House of Representatives of the National Assembly of Belarus ratified agreements on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income with Bangladesh and Laos on Friday.
The agreement with Bangladesh envisages lower tax rates on dividends (from 12 per cent to 10 per cent if the share of an investor in the capital is more than 10 per cent), on interests from 10 per cent to 7.5 per cent, on royalties from 15 per cent to 10 per cent.
The agreement with Laos establishes lower tax rates: on dividends (reduction from 12 per cent to 5 per cent if the share of an investor in the capital is more than 20 per cent, to 10 per cent in other cases), on interests from 10 per cent to 8 per cent, on royalties from 15 per cent to 10 per cent.
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Shortfall in revenue collection due to political unrest
The revenue collection by Chittagong customs house witnessed a shortfall of Tk 25.41 billion, as it collected Tk 233.49 billion against the revenue target of Tk 258.90 billion in the 2012-2013 FY due to political instability, although the collection crossed the targets in previous fiscal years.
Chittagong Customs House, the highest revenue earner of the country, could not meet the target of revenue collection in the five months of the current fiscal year due to repeated hartals and violence amid political instability.
Mobile financial service should be free from overregulation: experts
Telecom financial services experts here today called for keeping the mobile financial services out of over-regulation so that the 50 percent unbanked population of the world could be incorporated into the financial services to boost it in future.
They have also consented that collaboration between the banking, financial service and telecommunication regulators might establish a platform where the unbanked people would get opportunity to avail different kinds of financial services smoothly with the access of mobile banking, as 75 percent of world's population has the access to mobile communication, reports BSS.
Their observations came at a panel discussion "Many Faces of Mobile Financial Services" at the final day of the ITU Telecom World 2013 that began on November 19 in the capit...
