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exports

BB scraps mandatory 10pc advance of export earnings

Bangladesh Bank has scrapped the mandatory requirement for exporters to retain 10 per cent of their advance export earnings received from foreign buyers, a move aimed at boosting cash flow and simplifying business operations.
The central bank issued a circular on Thursday, lifting the retention obligation to facilitate the procurement of raw materials, streamline production activities, and simplify the supply of goods.
The new directive, however, includes several safeguards to ensure genuine transactions. ...

Footwear sector expands, but challenges persist

Bangladesh’s footwear sector is set for substantial expansion, presenting lucrative investment opportunities in both leather and non-leather segments. The Bangladesh Investment Development Authority (BIDA) highlighted this potential in a recent newsletter while also acknowledging the challenges that must be addressed to sustain growth and enhance competitiveness.

Shah Mohammad Mahboob, an executive member of BIDA, underscored the industry's vast pot...

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