The country received $ 1.319 billion in remittance during the month of September this year, up from $1.174 billion than in August 2014.
According to data provided by the Bangladesh Bank, the country received the remittance through banking channels from the Bangladeshi expatriates living abroad.
With the September’s amount, the country’s total remittance earning till September 30 reached $3.985 billion in the first quarter of the current fiscal year fiscal year 2014-15. The total remittance in fiscal 2013-14 was $14.228 billion...
The Bangladesh authorities have made significant progress in consolidating macroeconomic stability under the ECF-supported program, said International Monetary Fund (IMF) in a press statement. It said, despite a moderation in exports, foreign exchange reserves have continued to increase and have reached adequate levels, inflation has declined, the fiscal deficit is contained and public debt is on a downward path. With a calmer political environment economic activity is gaining momentum, and real GDP growth is expected at about 6¼ percent in fiscal year (FY)15 (July 2014-June 2015), supported by strong domestic demand. There has also been progress on structural reforms. However, the introduction of a new value added tax (VAT), a key government reform to boost fiscal space for development...
The Asian Development Bank (ADB) projected Thursday Bangladesh’s economic growth at 6.4 per cent in the current fiscal, backtracking from its earlier conservative estimate.
Eight months ago in January last, the ADB in its Asian Development Outlook (ADO) 2014 said Bangladesh’s gross domestic product (GDP) would grow at 6.2 per cent in the current financial year (FY) 2014-15.
“Exports and remittances are expected to perform better than projected earlier. Moreover, the government is seen stepping up project implementation and private investment will likely pick up on post-election political stability,” said the ADO 2014 Update, released Thursday in Dhaka.
Regulators in Bangladesh are looking to incorporate factoring as a financing option to help expedite the country’s import/export activities and to provide a means for its manufacturers and exporters to avoid problems associated with deferred payments from buyers.
Though factoring, instead of securing a loan, business owners sell accounts receivable (invoices) at a discount to a third-party funding source to raise capital. The source, or factor, then advances most of the invoiced amount to the company immediately an...
The country’s six major financial regulators will exchange sensitive financial information among them in a bid to ensure financial stability, said officials of Bangladesh Bank.
The decision came from a meeting of the regulators held at the BB headquarters in the capital on September 14.
The regulators are Bangladesh Bank, Bangladesh Securities and Exchange Commission, Insurance Development and Regulatory Authority, Microcredit Regulatory Authority, Registrar of Joint Stock Companies and Firms and Department of C...
Pakistan’s National Assembly''s Standing Committee on Finance has constituted a committee on Rs 11 billion losses of National Bank of Pakistan (NBP) during the Bangladesh operation. The Committee was informed by senior NBP officials that a forensic report of losses that occurred during the Bangladesh operation would be completed by mid of the next month for its submission to the committee. The Committee decided to constitute a sub-Committee to probe the said scam in Bangladesh under the chairmanship of Qaiser Ahmad Sheikh with directives to submit its findings within 45 days from the date of its first meeting.
According to data provided by the Bangladesh Bank, the country received the remittance through banking channels from the Bangladeshi expatriates living abroad.
With the September’s amount, the country’s total remittance earning till September 30 reached $3.985 billion in the first quarter of the current fiscal year fiscal year 2014-15. The total remittance in fiscal 2013-14 was $14.228 billion...
