Strategic changes in supervision techniques to check banks’ misddeds
Bangladesh Bank (BB) Governor Dr Atiur Rahman said the central bank has started introducing strategic changes in its existing supervision techniques for ensuring financial stability to check financial irregularities in the banking system.
“Some recent financial irregularities in the state- controlled banks in particular threaten to taint the image of the Bangladeshi banking system and its regulator,” said the governor while opening the Annual Banking Conference 2013 organised by Bangladesh Institute of Bank Management (BIBM) on Sunday.
Bangladesh key economic indicators – Nov 24
DAILY INDICATORS
Thursday Previous Taka/US $ (inter-bank) 77.75-77.75 77.75-77.75 Call money rate (inter-bank) 06.00-08.00 05.50-08.00 Dhaka Stock Exchange index 4,395.94 4,439.59 ------------------------------------------------------------
MONTHLY
CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Oct. 7.03 7.13
M2 supply (bln taka) (BB) Sept. 6,267.23 6,199.89 Forex reserves ($bln)(BB) Oct. 17.35 16.15
Exports(FOB) ($mln)(BB) Sept. 2,590.24 2,031.44 Imports(FOB) ($mln)(BB) August 2,658.00 3,125.00 ------------------------------------...
Belarus ratifies double taxation deal with BD, plans warehouse
The House of Representatives of the National Assembly of Belarus ratified agreements on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income with Bangladesh and Laos on Friday.
The agreement with Bangladesh envisages lower tax rates on dividends (from 12 per cent to 10 per cent if the share of an investor in the capital is more than 10 per cent), on interests from 10 per cent to 7.5 per cent, on royalties from 15 per cent to 10 per cent.
The agreement with Laos establishes lower tax rates: on dividends (reduction from 12 per cent to 5 per cent if the share of an investor in the capital is more than 20 per cent, to 10 per cent in other cases), on interests from 10 per cent to 8 per cent, on royalties from 15 per cent to 10 per cent.
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Shortfall in revenue collection due to political unrest
The revenue collection by Chittagong customs house witnessed a shortfall of Tk 25.41 billion, as it collected Tk 233.49 billion against the revenue target of Tk 258.90 billion in the 2012-2013 FY due to political instability, although the collection crossed the targets in previous fiscal years.
Chittagong Customs House, the highest revenue earner of the country, could not meet the target of revenue collection in the five months of the current fiscal year due to repeated hartals and violence amid political instability.
Dhaka can benefit from Indo-Pacific economic corridor: US
Bangladesh can benefit greatly from the establishment of an Indo-Pacific economic corridor if it can overcome the troublesome legacy of its past and come together around a democratic political transition in the coming months, said an US official.
“Bangladesh, where I was earlier this week, stands to benefit greatly from the establishment of an Indo-Pacific economic corridor if it can conquer the divisive legacy of its past and come together around a democratic political transition in the coming months,” said US Assistant Secretary for South and Central Asian Affairs Nisha Desai Biswal.
Biswal, who had been on a three-day visit here last week, made the remark at her swearing-in ceremony in Washington on November 21, according to the US State Department.
