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

BB issues LoI for Sammilito Islami Bank

The banking regulator has issued the preliminary licence for Sammilito Islami Bank, the proposed largest shariah-based bank to be formed through merger of five severely liquidity-crisis-ridden unconventional banks."Yes, we issued letter of intent (LoI) in favour of the merged bank today after an emergency virtual board meeting," a BB official...

Revenue board opposes blanket scrapping of tax incentives

A willy-nilly government action undoing time-bound tax-breaks falters as investors lodge multiple objections and take the matter up with court on alleged breach of commitment.Tax officials say the abrupt phasing out of these exemptions - the first of its kind - follows the International Monetary Fund (IMF) directive to raise...

FE's 32-year-long journey: Eventful and inspiring

The Financial Express (FE), Bangladesh's first and oldest business daily, completes its 32 years of existence today. On this momentous occasion, we express our deep gratitude to our valued readers, advertisers, shareholders of the FE's owning company, the International Publications Limited, staff and well-wishers. We are particularly thankful to our...

Next govt to decide new pay scale, IMF loan payout

Next government will take decision on implementation of the new pay scale for public employees, says Finance Adviser Dr Salehuddin Ahmed, indicating interim government's hands-off on major matters ahead of elections. Also, the International Monetary Fund (IMF) will make decision on release of the next tranche of its loan in...

Charge-sheets soon against Salman, others

The Criminal Investigation Department (CID) will soon submit charge-sheets in 17 money-laundering cases filed against Beximco Group Vice-Chairman Salman F Rahman and several others over their alleged involvement in laundering US$97 million under the guise of foreign trade between 2020 and 2024. Additional inspector general of police and also chief...

ACC files case against S Alam, 66 others

The Anti-Corruption Commission (ACC) has filed its 'largest-ever' corruption case accusing Mohammad Saiful Alam (65), the chairman of S Alam Group, and 66 other individuals, over a massive loan fraud of Tk 104.8 billion.The ACC claims loans amounting to Tk 92.84 billion were issued to different companies under S Alam...

BB slashes quasi-fiscal financing by Tk 50b

The Bangladesh Bank (BB) has significantly reduced quasi-fiscal financing to achieve the International Monetary Fund's (IMF) indicative target, which has been set as part of its $5.50- billion lending package to stabilise the country's macroeconomic situation, officials say.The multilateral lending agency, after its review mission in March this year, set...

HC halts Ctg port tariff hike for one month

The High Court on Sunday stayed for one month the Chattogram Port Authority's (CPA) decision to raise tariffs by an average of 41 per cent across various services, providing temporary relief to port users and shipping agents.The court also issued a rule, asking the authorities concerned to explain as to...