Briefing 2023-06-19
Monday, 19 June 2023
Lending rate cap removal brings
relief to banks, NBFIs
Monetary Policy Statement (MPS) removes lending rate cap, bringing relief to banks and NBFIs. Interest rate spread will widen, increasing profitability for lenders. The reference rate will be published monthly. NBFIs anticipate a 1 per cent increase in interest spread. Central bank considers boosting bond market for long-term financing, reducing dependency on banks. Page 9
Automated VAT collection from
retailers soon
The National Board of Revenue (NBR) is going to install the much-desired Electronic Fiscal Device Management System (EFDMS) shortly with the support of Genex Infosys. A Memorandum of Understanding (MoU) was signed on November, 2022 to set up the automated VAT collection system in retail businesses. Page 20
Bangladesh recall Afif, Ebadot for T20s
Afif Hossain and Ebadot Hossain returned as Bangladesh named its 15-member squad on Sunday for next month's two-match Twenty20 international series against Afghanistan. Afif was dropped from Bangladesh's T20 set-up during its recent home series against Ireland but forced his way back into the squad after a consistent performance in domestic cricket. Page 15