Finance News: Latest Financial News, Finance News today in Bangladesh

Budget not on IMF tips, fully implementable: Kamal

This budget is not based on IMF prescriptions and it is implementable in Bangladesh’s current economic fundamentals, Finance Minister AHM Mustafa Kamal said Friday while defending its full course of fiscal measures. He admits that the government accepts those suggestions of the International Monetary Fund which are necessary for the country....

None whitened money despite amnesty

None had got undisclosed money legalised during the last one year despite budgetary amnesty, Finance Minister AHM Mustafa Kamal said Friday, although studies claim huge unaccounted-for funds run informal economy in Bangladesh.“In my budget speech last year I said if anyone brings back untaxed money from abroad, they won’t need...

It’ll promote money laundering, graft: TIB

Transparency International Bangladesh (TIB) said the proposed national budget for fiscal year (FY) 2023-24 would encourage and facilitate people in the country to get involved in more corruption and money laundering.TIB expressed its grave concern over lack of proper directions for ending corruption, money laundering, and ensuring good governance. It...

Budget based on ‘unrealistic assumptions’

Policy analysts at the Centre for Policy Dialogue (CPD) find the proposed national budget expansionary and framed on some “unrealistic assumptions” far from the reality of Bangladesh’s current economic dynamics.“When the inflation is unusually high, foreign-exchange reserves are down, fiscal balance not under control, how the government can target 6.0-percent...

No specific direction for RMG: BGMEA president

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Friday said the proposed budget didn’t spell out any specific direction for the country’s export-oriented textile and clothing industry. Many of the proposals made by the trade body, including reducing source tax and budgetary allocation for incentive, have not been accommodated in...

Prayer Timings (2023-06-03)

Briefing 2023-06-03

Stocks rally for fourth straight week Stocks continued their rally for the fourth consecutive week, driven by smart investors' bets on lucrative shares ahead of the budget announcement. The DSE saw three higher-closing sessions and two with moderate corrections. The DSE's prime index, DSEX, reached its highest level since November...