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Economy

Automobiles, tyre industries to get 10-yr tax holiday

The government is likely to provide tax holiday benefit to some sectors including automobiles and tyre industries from the upcoming national budget to facilitate industrialisation in the country, officials of the finance ministry said. Japan Tokyo Motor ShowThey said that the proposed tax holiday facility would encourage setting up the import substitute manufacturing plants in the country which would create new employment opportunities as well as save foreign currency through reducing dependence on import. Finance...

BB increases Exporter’s Retention Quota

Bangladesh Bank has increased the Exporter’s Retention Quota (ERQ) for the foreign exchange expense. bbA circular issued by Foreign Exchange Policy Department (FEPD) on Wednesday said the Guidelines for Foreign Exchange Transactions-2009 (GFET) permits exporters to retain specific parts of their export earnings in foreign exchange, for utilization without prior Bangladesh Bank approval for bonafide business expenses abroad including maintenance of offices abroad, import of raw materials, machineries and spares. “It has been decided to further widen this facility b...

Bankers’ should minimize credit risk, says ICC workshop

Banks today are the largest financial institutions around the world, with branches and subsidiaries throughout everyone’s life. However, commercial banks are facing risks when they are operating credit related activities. image002Credit Risk is one of the most significant risks that banks face, considering that granting credit is one of the main sources of income in commercial banks. Therefore, the management of the risk related to credit affects the profitability of the banks said Mr. Muhammad A. (Rumee), Chairman, ICCB Standing Committee on...

MoU on fake Indian currency notes during Modi’s visit

India is likely to sign a memorandum of understanding (MoU) with Bangladesh on fake Indian currency notes (FICN) during Prime Minister Narendra Modi’s two-day visit to the neighbouring nation from June 6. pm-narendra-modi_650x400_51424803339This is perhaps the first time that India will sign an agreement on fake currency notes with a neighbour. The National Investigation Agency (NIA) and Home Department of Bangladesh will be the nodal agencies for executing the agreement, said officials ...

Pharmaceutical Market: Bangladesh 2015

While geographic diversification and investment into the pharmaceutical and healthcare sector of emerging economies, such as Bangladesh, may be a favourable strategy for any multinational pharmaceutical company - it is vital that a company recognises both the rewards and the risks present in a market. Pharma MarketWith regards to assessing risks in the Bangladeshi healthcare sector, we have identified those emanating from the state’s political/economic profile (such as high inflation) and industry specific dangers (such as low per-c...

Finance boss seeks info on bank loan defaulters

The Bangladesh Bank (BB) has asked all the scheduled banks to provide information on their respective top-50 loan defaulters by June 04 next, officials have said.The BB sent letters to all the banks on May 18 last to submit the information to the department concerned, they said. bbThe BB move came, as the government asked the central bank to furnish information on the top 50 loan defaulters of each of the 56 scheduled banks. The government has taken the initiative to know the state of classified loans held by the top loan defaulters in the countr...
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