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Banking

IBBL gets 4 new DMDs

Islami Bank Bangladesh Limited has promoted its four Executive Vice Presidents to Deputy Managing Directors. They are Mohammed Monirul Moula, Mohammad Mohon Miah, Mohammad Ali and Abu Reza Md. Yeahia. Mohammed Monirul Moula has been heading the Bank's Corporate Investment Division-II. He joined Islami Bank in 1986 as a Probationary Officer and served in its branches, zones and Head Office in different capacities. He obtained Masters Degree with Honors in Economics from pomotion_dmd_10-01-2017C...

Bangladesh expats urged to use legal remittance options

UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, has launched a new social awareness drive to encourage the use of legal channels for sending money home among the Bangladeshi expatriates in the UAE. The campaign named ‘Amar Bangladesh’ (My Bangladesh) stands out for its message: “Sothik pothey pathai taka, Sochol rakhi desher chaka’’, which means “We send money legally which contributes to the development of my country”. Supported by the Ministry of Expatriates’ Welfare and Overseas Employment of Bangladesh and

BAFEDA new body formed

The election of Office Bearers (Executive Committee) for next term for the years 2017 and 2018 of Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) was held on 28 December 2016 in the conference room of the Association (on 11th floor of Eastern Commercial Complex), 73, Kakrail, Dhaka. Mr. Mohammed Nurul Amin, Managing Director & CEO of Meghna Bank Ltd. was unanimously bafeda-7re-elected as Chairman of BAFEDA. Mr. Md. Abdus Salam, CEO & Managing Director of Janata Bank Limited and Mr. Md. Ataur Ra...

Bangladesh Bank responsible, says Philippines bank

The Philippines bank through which $81 million stolen from Bangladesh’s central bank was channeled in February said on Tuesday that the Bangladesh central bank was responsible for the heist, and so any liability should not be passed on. Manila-based Rizal Commercial Banking Corp (RCBC) was responding to comments by a Bangladeshi investigator that some Bangladesh Bank officials deliberately exposed its computer systems and enabled hackers to steal the money from its account at the Federal Reserve Bank of New York. Bangladesh Bank had been demanding that RCBC compensate it for the loss, blaming it for i

Leather products export to reach $ 6bn by 2021

Export of leather products including shoes would be $six billion by 2021 if 16.5 percent cash incentive is given. The parliamentary standing committee on ministry of commerce today apprised of the export leather workerstarget at its 18th meeting held at Jatiya Sangsad Bhaban with committee chairman M Tajul Islam in the chair, reports BSS. The watchdog body suggested the authorities concerned to give additional cash incentive to the leather products and shoes industries for making country's image brighter. ...

Forex reserves hit record $ 31.9b at end-October

Bangladesh's foreign exchange reserves hit a record $31.90 billion at the end of October, the central bank said on Tuesday, on the back of steady garment exports. forexThe reserves, sufficient to cover about nine months' worth of imports, are $4.32 billion higher than in the same period last year. Steady garment exports and remittances from Bangladeshis working overseas, the key drivers of the country's more than $200 billion economy, have helped build reserves in recent years.

-Reuters

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