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Regulators

Bootleg financial flows touching Tk 140b  

The illicit financial flow in Bangladesh has increased almost three times, according to latest report of the Washington based Global Financial Integrity (GFI) here the other day. In 2012 at least USD 1.78 billion or Tk 137.32 billion was taken out of the country by various means. In 2010, at least USD 600 million or Tk 46.30 billion was smuggled out. [caption id="attachment_4203" align="alignleft" width="300"]The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC countries The reserves now stand at $19.04bn, enou...

BTMU signs MoU with BoI

The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) (President: Nobuyuki Hirano) is pleased to announce that BTMU has entered into a Memorandum of Understanding (MOU) with Board of Investment of Bangladesh (BOI), with the purpose of developing collaborative efforts in promoting investments from Japan to Bangladesh. boiThe MOU was signed on 24 December 2014 in Dhaka, Bangladesh. BOI was established in 1989 as a division of the Prime Minister’s Office to promote private sector investment in Bangladesh. It has the authority to grant approvals and licenses, including visas...

Money supply rises 13 pc on year

The country's broad money supply in October rose 13 percent to 7,209.43 billion taka ($92.55 billion) from a year earlier, but down 40.6 billion taka call moneyfrom the previous month, the central bank said on Wednesday. Below is the table of broad money supply:     Broad money supply Oct. 2014     Sept. 2014   Oct. 2013  (bln taka) 7,209.43     7,250.03     6,403.17 ($1 = 77.90 taka)

-Reuters

ECC allows NBP to invest Rs.6.5b in Bangladesh branch

The Economic Coordination Committee of the Pakistan Cabinet (ECC) on Friday allowed National Bank of Pakistan (NBP) to invest Rs. 6.5 billion in its Bangladesh’s branch to resolve capital shortfall, Our Sources reported. NBPThe approval was given during ECC meeting held in Islamabad under the chair of Finance Minister Ishaq Dar. The decision was taken to fulfill minimum capital requirement. According to details, the amount will be remitted in two tranches to NBP, Bangladesh till January 31, 2015. During the meeting ECC also approved Ministry of Water and Po...

4 nations agree to create fund for BCIM corridor

A multi-billion dollar fund might be established to pull in resources from various parties to set up a thriving economic belt connecting Bangladesh, China, India and Myanmar. About 55 percent of the fund might come from various multilateral development partners while the rest might be borne by the four governments and the private sector. It will cost about $22 billion to build the proposed Bangladesh, China, India, Myanmar Economic Corridor (BCIM-EC), according to an initial estimate. bcimThe figure is not final and will require more in depth study to reach...

Agriculture and ship salvaging in coastal Bangladesh  

One of the most promising economies in the world today, Bangladesh has a host of positive statistics and numbers including: In 2014, gross income per capita reached $1,190, Bangladesh ranks number 140 out of 177 countries for development and it is moving higher, The rate of population growth is currently at 1.39% a year. Today, approximately 75% of the people in Bangladesh live in rural parts of the country, and most of them depend on agriculture for their livelihood. The agricultural sector is the largest by far, contributing approximately 19.09% of the country’s GDP, and providing jobs to around 48.1% of the labor force.
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