The exchange rate of Taka vis-à-vis US dollar maintained stable tone last week. The market will see the same tone next week as well.
The average daily inter-bank USD/BDT transaction volume was about $25.73 million against around $50.23 million of the week before.
Most of the banks kept their published foreign exchange rates unchanged last week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.82-78.35, while USD Buying rates from exporters were at 76.82-77.35. For non-commercial payments such as Tele Graphic Transfer ...
Bangladesh Bank governor Atiur Rahman on Saturday said the ceiling on tax exemption for Corporate Social Responsibility (CSR) activities by banks and financial institutions should be raised.
“For enjoying the income tax rebate, I think, the minimum limit for expenditure on CSR by banks or financial institutions should be more than the existing ceiling of Tk 8 crore,” he said while addressing a roundtable discussion here.
According to the Income Tax Regulation on CSR, the banking sector enjoys a 10-percent exemption of income tax against the money spent by them on CSR activities.
A top official of the International Labour Organization (ILO) on Thursday expressed displeasure over the slow progress in compensating the Rana Plaza victims saying it will be a ‘shame’ for all the stakeholders.
“It’s very hard…very difficult to speak here today and say that the victims still can’t be compensated adequately,” said visiting ILO Deputy Director General for Field Operations and Partnerships Gilbert Fossoun Houngbo.
He was speaking at a function, titled ‘One Year after Rana Plaza: Progress and the way Forward’, at Ru...
Export earnings from the USA, the largest export destination for Bangladesh goods, witnessed a 7.26 percent growth during the first eight months (July-February) of the current fiscal (2013-14), mostly due to good performance of the RMG sector.
Bangladesh exports to USA totalled $ 3,723.49 million in the first eight months (July-Feb) of fiscal 2013-14 compared to $ 3,471.48 million during the corresponding period of the previous fiscal (2012-13). The amount represents 18.78 percent of the country’s total export earning during the period, UNB reports.
According to the statistics compiled recently by the Export Promotion Bureau (EPB), RMG export, including knitwear, to the US amounted to $ 3,428.37 million during the July-February period of the current fiscal compared to $ 3,186.03 m...
The exports of readymade garments from Bangladesh increased by 15.15 percent to US$ 18.052 billion during the first three quarters of the ongoing fiscal year 2013-14, as against exports of $15.676 billion made during the corresponding period of the previous fiscal, as per the latest data released by the Export Promotion Bureau (EPB).
Segment-wise, woven apparel exports grew by 13.99 percent year-on-year to $9.221 billion during July-March 2013-14 period, whereas knitwear exports soared by 16.4 percent to $8.831 billion.
Knitwear and woven garments ...
“IT TOOK us two years, but the greed kept us going,” Yusuf Munshi told police after they arrested him and his accomplice. Mr Munshi had tunnelled under a branch of Sonali Bank, Bangladesh’s biggest state-owned bank, in the town of Kishoreganj, and made off with five sacks of cash containing 164m taka ($2m). On social media, people advised the robbers that there is a less time-consuming way to get your hands on a pile of cash: befriend the bank manager.
Bangladesh’s government banks are normally fleeced at street level during opening hours, in plain sight. In 2012, in the biggest of many banking scandals since the banks were nationalised 40 years before, Sonali Bank revealed that one of its branches in Dhaka had granted a particular firm almost 27 billion taka in loans on false premis...
