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Regulators

Budget: Focus on investment, revenue

Finance Minister AMA Muhith on Sunday hinted of a bigger budget for the upcoming fiscal and said its prime focus would be on drawing more investment and generating more revenue. Muhith“The size of the next budget will be within Tk 3 lakh crore but the actual figure cannot be divulged now,” Muhith said in the first pre-budget discussion meeting held with the leading economists at National Economic Council (NEC) Auditorium in Dhaka. The minister, however, did not point a finger towards the government’s GDP growth target for next year – which has ...

Nat’l strategy to curb illicit financial flow approved

The government has approved a strategy to curb illicit financial flows by preventing creation of black money, addressing trade-based money laundering, and controlling domestic and cross-border tax evasion, officials said. Muhithhith The approval was given at a meeting of the National Coordination Committee (NCC) on Anti-Money Laundering (AML) and Counter Terrorist Financing (CFT), held at Bangladesh Secretariat on Thursday with Finance Minister AMA Muhith in the chair. The objective of National Strategy for Preventing Money Laundering and Com...

$ 500m Green Fund for textile sector

The central bank of Bangladesh announced $500 million of low-cost green fund for the textile sector. The fund’s timing is critical as the global demand for environmental-friendly goods continues to rise. rmg222The World Bank Group is supporting the Partnership for Cleaner Textile (PaCT project) in Bangladesh. IFC is taking a lead role in structuring the green fund. Bangladesh has the world’s second largest textile industry, generating around $24 billion in 2014 and employing 4 million workers, 80 percent of whom are women. Washing, dyeing, ...

BD requires no budget support for next FY: WB

The World Bank (WB) thinks that Bangladesh will not require any budget support for upcoming fiscal year 2015-16. It is, therefore, uncertain whether the government will receive the Bank’s support in Budgetthe next fiscal year’s budget. But the final decision regarding the matter will come at the spring meeting of the World Bank and International Monetary Fund in Washington DC in April. “We had a long meeting with the World Bank officials and discussed about the budget support for the next fiscal year. But at the end of the meeting they (WB ...

Key economic indicators – March 28

DAILY INDICATORS Wednesday Previous Taka/US $ (inter-bank) 77.80-77.80 77.80-77.80 Call money rate (inter-bank) 07.50-08.00 07.50-8.00 Dhaka Stock Exchange index 4,509.30 4,493.40 indicatorMONTHLY CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Dec. 6.04 6.11 M2 supply (bln taka) (BB) Jan. 7,385.26 7,412.48 Forex reserves ($bln)(BB) Feb. 23.03 22.04 Exports(FOB) ($mln)(BB) Feb. 2,512.42 2,844.13 Imports(FOB) ($mln)(BB) Jan. 3,617.60 3,319.00 --------------------------------------------------------------- ANNU...

Loan to women entrepreneurs mandatory

All commercial banks and non-banking financial institutions (NBFIs) will have to provide minimum Tk 50,000 as loan to at least a woman entrepreneur each year to expedite the ongoing financial inclusion programmes in Bangladesh. “We’ll able to create nearly 10,000 women entrepreneurs every year if the initiative continues,” Bangladesh Bank Governor Dr Rahman said while announcing the unique scheme yesterday afternoon. [caption id="attachment_14355" align="alignleft" width="300"]Bangladesh-bank Bangladesh Bank Governor Dr Atiur Rahman ha...
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