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Economy

NBR requests fin min to consider education cess

The National Board of Revenue has recommended that the finance ministry should consider imposition of three per cent special tax (cess) on income tax for spending in education sector in the upcoming budget for next fiscal year in line with the recently announced budget of India. The revenue board also recommended for increasing the tax-free limit of individual income and making mandatory transaction for buying and selling assets through banking channel, said finance ministry officials. nbr 222The NBR on Tuesday sent an observation report on n...

Agent banking in areas with no bank branches

Agent banking has been introduced in the areas of Bangladesh where traditional banking has not yet reached. Bank Asia and Dutch-Bangla Bank – started recruiting agents at the grassroots level from Jan 19 to offer banking services through them. Another two banks – South Bangla Agriculture and Commerce Bank, and NRB Commercial Bank – are going to launch the service. Bangladesh BankThe central bank issued licences to the four banks for running agent banking, under which financial services would be offered through agents instea...

Industry report on mobile financial services released

The GSMA Mobile Money for the Unbanked (MMU) programme releases its 2014 State of the Industry Report on mobile financial services on Tuesday. Published annually, the report provides industry practitioners with insights into the important developments taking place in mobile money, mobile insurance, mobile savings and mobile credit. mobile moneyThe mobile financial services sector continued to expand in 2014, boosted by the creation of more enabling regulatory frameworks in several markets. With 255 mobile money services in operation a...

$ 10m agri orders from Bangladesh

Foreign buyers on Saturday placed $10 million worth of orders with local agricultural traders during the ongoing four-day Expo Pakistan 2015, said an official at Trade Development Authority of Pakistan (TDAP). The official said the local suppliers will supply various agro foods to Bangladeshi companies. farmers“More orders are likely to be booked by participants from various countries before the end of the expo,” he added. “A total of four memorandum of understandings (MoUs) with Bangladeshi, Moroccan, Saudi Arabian and Chinese companies (wo...

Beijing for spl committee to coordinate projects

China has suggested Bangladesh to set up a special high-level committee under the Prime Minister’s Office (PMO) for better coordination and facilitation of the various Chinese proposed projects in Bangladesh to support the country’s development needs, reports UNB. BD_CHINA“…some very important projects for our further cooperation are being negotiated positively at the moment,” said a letter sent to the PMO of Bangladesh by the Chinese embassy in Dhaka last month, of which a copy has been obtained by UNB. The projects are railway projects i...

27 projects get BB CSR fund

The Bangladesh Bank (BB) has significantly expanded its CSR (Corporate Social Responsibility) activities by pledging financial support to 30 projects, reports BSS. The figure is more than double the projects the central bank funded last year. bbThe central bank on Thursday finalised a memorandum of understanding (MoU) with 27 organisations and handed over cheques for the first installment of the fund. Similar deals would be done soon with three more organisations for the remaining three projects. The 30 projects cover the areas including financial inclusion,...
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