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

Exporters getting competitive with tax waivers, import-duty cuts

Bangladesh moves forward with new policy measures as guardrails around its export sector as the country is destined to graduate from the least-developed country (LDC) category and thus forfeit marketing privileges.The swap comes amid a looming phase-out of cash subsidies for export products, which will no longer be permissible under...

Control of lower judiciary transferred to SC from President

Full control of the lower judiciary switches over to Bangladesh Supreme Court from the President in a major constitutional change by court verdict, in tune with post-uprising reform recipe. The High Court Wednesday handed down the judgment vesting in the Supreme Court the full responsibility of maintaining discipline of the...

FSIB first to accept M&A bailout

A banking-sector overhaul recipe designed as mergers and acquisitions gets into gear with the crisis-stricken First Security Islami Bank (FSIB) first agreeing to accept the bailout.Officials said the struggling unconventional bank's high-ups led by its Chairman Mohammad Abdul Mannan shared their decision at a meeting with Bangladesh Bank Governor Dr...

Govt seeks Interpol red alert against three fugitive RMG owners

A government move begins to request Interpol to issue Red Notices against the fugitive owners of three garment factories for "negligence in ensuring workers' rightful dues" and staying abroad for long.Officials concerned have said the wanted persons are Shahadat Hossain Shamim, Managing Director of TNZ Group, Ittemad Ud Doula, Chairman...

BB's dollar buys from banks hit nearly $1.0b in less than two months

As part of the move to stabilise the country's foreign-exchange market, the Bangladesh Bank's (BB) dollar purchase from commercial banks has reached almost $1-billion mark in less than two months. With the latest interventions of buying $47.50 million more through auctions from the interbank spot market on Tuesday, the central...

BB's new master circular to simplify loan, overdraft regulations

Bangladesh Bank on Tuesday issued a new master circular bringing all rules related to loans, overdrafts and guarantees into one framework.The circular has simplified and consolidated the foreign exchange transaction policy.The central bank said that the instructions remained scattered across various guidelines and circulars have now been consolidated into a...

Former IGP Mamun confesses, apologises

Former inspector general of police (IGP) Chowdhury Abdullah Al Mamun has confessed to his role in the crimes committed during the July-August 2024 mass uprising at the International Crimes Tribunal-1 (ICT-1) in the capital. He made the confession at the three-member ICT-1, headed by its Chairman Justice Md Golam Mortuza...