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Bill on boundary deal with Bangladesh to be deferred

A statute amendment bill to operationalise the Land Boundary Agreement with Bangladesh has been deferred for the time being with Congress opposing tooth and nail the exclusion of Assam from its ambit. bd-indiaSources said the government had planned to bring the bill in Raj ya Saba May 5, first day of the last week of Budget session. It is learnt that the issue also came at a meeting of the Business Advisory Committee of the Rajya Sabha today, where Congress opposed the government’s move. While the government has got various states, including Trinam...

Banking in Bangladesh

On Saturday 25 April, the International Retail Banking Summit in Bangladesh 2015 took place. As Efma’s first event in Bangladesh, it gathered more than 150 participants, and served as a platform for the retail banks to discuss key issues affecting the retail financial services industry in the country. We spoke to some of the speakers at the event to find out more. Bangladesh BankWhat makes Bangladesh unique in terms of retail banking? Sarder Akhter Hamed, EVP & Head of Retail Banking at United Commercial Bank: With a popul...

Bangladesh: Where free spirits are not so free

Press without freedom is propaganda. Sadly, the press in Bangladesh is rarely independent of political influence or financial control, writes Bangladeshi photographer Shahidul Alam. Despite these realities a press that finds itself fettered by controls - outside the ethical restrictions that responsible journalism demands - fails in the final analysis to gain the trust of the public or to pol violanceinfluence public opinion. The public is no longer restricted to a single news outlet. From word of mouth to watchdog blogs, there are al...

New record in forex reserve

Bangladesh’s foreign currency reserves have reached $24 billion on Wednesday, setting a new record. The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC countriesKazi Saidur Rahman General Manager of Bangladesh Bank (BB) confirmed this to reporters. The reserves first crossed the $23-billion mark on February 26 this year. The reserve is currently enough to meet the country’s import bills for more than six months. The central bank attributed the record reserve accumulation to a stable flow of remitt...

City polls full of fraudulent practices: EWG

Polls monitoring body Election Working Group (EWG) on Wednesday said Tuesday’s elections in Dhaka and Chittagong city corporations were full of fraudulent practices and violence. “For the misdeeds that were committed during the voting in Dhaka and Chittagong city corporations have made the process not at all votetrustworthy to us,” EWG director Abdul Alim said reading out a statement during a briefing at the National Press Club. The EWG’s observers stationed in 619 polling centers during the ballot came up with common observations – intimidation o...

Credit profile supported by strong, stable growth

Moody’s Investors Service says that Bangladesh’s Ba3 foreign currency government bond rating reflects its track record of macroeconomic stability, a modest debt burden, and limited externalvulnerabilities with an ample foreign reserve buffer. moody'sBut a fractious political environment, narrow tax revenue base, and a very low level of per capita income constrain the rating. Moody’s conclusions were contained in its just-released credit analysis “Bangladesh” and which looks at the country’s credit profile in terms of Economic Strength (assessed as “moder...
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