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Economy

Doing business in Bangladesh slips 2 notches

Getting electricity, registering property and enforcing contracts are the worst issues in doing business in Bangladesh, according to the World Bank’s ranking. Its latest report on doing business has placed Bangladesh at 174th position among 189 economies around the world. The country is at the bottom in accessing electricity (189th) and enforcing contract (188th) and also ranks poorly at 185th position in registering property, said the global agency’s “Doing Business-DirectoryBusiness 2...

BB signs MoU with RBI on information exchange

Bangladesh Bank (BB) has signed a memorandum of understanding (MoU) with the Reserve Bank of India (RBI) for exchange of supervisory information. “The Reserve Bank of India, today, signed the Memorandum of Understanding (MoU) on bbSupervisory Cooperation and Exchange of Supervisory Information with the Bangladesh Bank, Peoples Republic of Bangladesh,” RBI said in a release. RBI has entered into Memorandam of Understanding, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries to promote greater cooperation and sha...

NEC approves new five-year development plan

The highest economic policy-making body of Bangladesh Tuesday approved a new five-year plan with the theme “Accelerating Growth, Empowering Citizens”. Bangladesh’s 7th five-year plan was approved at a meeting of the country’s National Economic Council with Prime Minister Sheikh Hasina in the chair on Tuesday here in the capital of Dhaka, Xinhua reported. gov1Bangladesh’s Planning Minister AHM Mustafa Kamal told journalists after the meeting that the new plan, which starts in the 2015-16 fiscal year (July 2015-June 2016) and ends in 2019-20 (July ...

IBBL RDS role model for rural development

A solvent family, own house, a piece of arable land- are the common dream of low income people. Mnowara Begum, a housewife of Paikpara village under Patia Upazila of Chittagong used to cherish the same. But poverty cripples her dream. Their days pass through financial difficuties with her husband's little income. Yet she did not get dishearted. She started finding the way to get rid of proverty. She learnt about the Rural Development Scheme of Islami Bank Bangladesh Limited (IBBL) from neighbors. Manowara became a member of the scheme under Hazrat Fatima (RA.) center at Patia Branch of the Bank in 2005. The scheme acts as the charioteer of her dreams. She took Tk. 5 thousand

AML guidelines for co-operative societies

Bangladesh Bank (BB) has issued an anti-money laundering (AML) guidelines for co-operative societies to help combat money laundering and terror financing. Issuing the guidelines on October 7, the central bank asked all the co-operative societies to follow it accordingly to keep their activities and services protected from the risks of money laundering and terror financing. bangladesh_bankThe guidelines suggested all the co-operative societies to set up a central compliance unit or contact point under the direct supervision of the head o...

No loans for packaging sans using jute sacks

Producers and traders of six essential goods will not get loans from bank if they fail to use jute sacks as directed by the government, Bangladesh Bank (BB) said today. The central bank in a circular said before approving fresh loan or renew the existing ones all bbbanks should make sure that their clients who produce or trade paddy, rice, sugar, wheat, maze and fertilizers use jute sacks for packaging. BB said that the directive was issued in-line with the government's decision of making use of jute sacks and bags mandatory to package paddy, rice, sugar, wheat...
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