News Briefs (03-01-2018)

BSEC extends timeframe
The securities regulator has extended the timeframe till December 31, 2018 for keeping provision against unrealised losses in portfolios of merchant banks, stock dealers and their clients. The existing deadline of keeping provision against unrealised losses ended on December 31, 2017. The Bangladesh Securities and Exchange Commission (BSEC) has extended the deadline of keeping provision following the plea of merchant banks and stock dealers. The market situation has also been taken into account while taking the decision of extending the deadline of keeping provision. The merchant banks and stock dealers will have to inform the regulator about the progress of keeping provision by submitting update reports in every quarter. The market intermediary institutions, which are yet to complete the job of keeping provision as per the directive of December 28, 2016, will have to complete the job of keeping provision by the stipulated timeframe, the securities regulator said. — FE Report

UCB signs agreement with Banglalink
United Commercial Bank Limited (UCB) recently signed an agreement with Banglalink at the corporate office of the bank. Under the agreement, UCB Credit Card holders will enjoy special discount and facility on International Roaming usage. On the other hand, Banglalink roaming subscribers will get waiver on annual fee for the first year and subsequent year waiver upon continuous roaming usage. They will also enjoy unlimited complementary access to UCB Imperial Lounge at Hazrat Shahjalal International Airport. Mr. Taufiq Hassan, Executive Vice President & Head of Retail Business of UCB & Mr. K M Zakaria, Treasury Director, Finance of Banglalink signed the agreement on behalf of their organizations. Among others Mr. Nehal A Huda, Vice President & Head of Cards of UCB, Fahmidul Hasan, Acting Head of B2B Business, Banglalink and other senior officials of both the organizations were present at the event. — Statement