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

Fund-sapping motivated megaprojects may be axed

Ongoing large and megaprojects will be reviewed and less-priority and "politically motivated" ones scrapped, says Planning and Education Adviser Prof Wahiduddin Mahmud of the interim government. "There are irregularities in taking up projects as some are undertaken by the influence of the contractors and some are by dishonest persons," he...

15th Amendment abolishing caretaker govt challenged

Now the High Court questions the legality of the fifteenth constitutional amendment that scrapped the caretaker-government system and set off prolonged political tangles lasting until an unceremonious regime change. An HC bench Sunday issued a rule asking relevant bodies of the government to explain why the fifteenth amendment "shall not...

Lending by six banks under S Alam Group restricted

Lending by six banks linked to the controversial Chattogram-based S Alam Group is restricted by regulatory order amid allegations of the conglomerate's financial irregularities.The banks -- also facing LC conditionalities -- are Islami Bank Bangladesh, First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank and Bangladesh Commerce...

NBR unfreezes Begum Zia's bank accounts

The National Board of Revenue (NBR) has ordered the unfreezing of Khaleda Zia's bank accounts after 17 years on Monday, following directives from its newly appointed chairman after discussions with the Chief Adviser.Official sources stated that the Central Intelligence Cell (CIC) has issued a note that will be sent to...

All city mayors, 876 public reps removed

The Local Government Division has announced the removal of city corporation mayors, including Dhaka South City Corporation (DSCC) Mayor Sheikh Fazle Noor Taposh and Dhaka North City Corporation (DNCC) Mayor Atiqul Islam, from their posts, reports UNB.In addition to this change, the Local Government Division has also removed 876 public...

8 sr executives of Islami Bank ousted

Islami Bank Bangladesh PLC has dismissed eight senior officials amid employee protests alleging corruption and banking irregularities. The officials, reportedly close to the controversial S Alam Group, include one Additional Managing Director (AMD) and five Deputy Managing Directors (DMDs). The remaining two were heads of key departments within the bank.They...