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

IDRA to investigate 17 general insurers in disciplinary crackdown

Seventeen non-life insurance companies will also undergo special audits as the regulator has identified them as high-risk after a similar measure taken for poorly-regulated life insurance companies. The Insurance Development and Regulatory Authority (IDRA) has already appointed auditors to 15 life insurance companies that have been facing complaints of non-settlement...

Citizens Bank eyes CMSME growth, financial inclusion and digital transformation

Citizens Bank PLC, the country's newest private commercial bank (PCB), plans to offer a range of loan and deposit products aimed at bringing more unbanked people into the banking network while ensuring full compliance with regulatory requirements, said Chowdhury Mohammed Hanif Shoeb, Chairman of the bank, in an exclusive interview...

Online cattle sales jump 125pc as buyers embrace digital payments during Eid

Online cattle trading through commercial banks and mobile financial services (MFSs) saw a 125.3 per cent rise during this year's Eid-ul-Adha compared to that of last year with a growing number of buyers and traders preferring such hassle and risk-free transactions. According to insiders, such cashless transactions for sacrificial animals...

Oil production suspension to have little impact on Rahima Food revenue

Rahima Food Corporation has suspended coconut oil production due to low market demand, without concerns over impacts on revenue as the segment constitutes less than 1 per cent of the company's sales. "We will have an insignificant impact on revenue, as currently very little income comes from coconut oil. Our...

Republic Insurance gets new Chairman

Dr Suborna Barua, a professor at the Department of International Business, Dhaka University, has been elected Chairman of the Republic Insurance Company Limited while SM Shafiul Hoque has been re-elected as its Vice Chairman in the 159th meeting of the Board of Directors of the company.Dr Barua also serves as...

NCC BANK HOLDS 40TH AGM, APPROVES 13PC CASH DIVIDENDS

National Credit and Commerce (NCC) Bank approved 13 per cent cash dividends for 2024 at its 40th annual general meeting (AGM) held on a digital platform on Wednesday. NCC Bank Chairman Alhaj Md. Nurun Newaz presided over the meeting. A large number of shareholders joined the AGM virtually and cast...

PUBALI BANK GIFTS AMBULANCE TO NSTU

Pubali Bank gifted an ambulance to Noakhali Science and Technology University as part of the bank's corporate social responsibility (CSR) initiative. As the chief guest of the programme, Mohammad Ali, managing director and CEO of Pubali Bank, handed over the key to Professor Dr. Mohammad Ismail, vice chancellor of Noakhali...

NRB BANK HOSTS SME GROWTH PARTNERSHIP PROGRAMME

Ashulia Branch of NRB Bank PLC has successfully organised the SME Growth Partnership Programme recently, marking the International MSME Day. Tarek Reaz Khan, Managing Director & CEO of NRB Bank, Shaheen Howlader, Deputy Managing Director, A M Zahed, Head of SME & Agri Banking, and Md Ruhul Amin Uddin, Head...

SONY CONGRATULATES NEWLY ELECTED COMPUTER SAMITY PRESIDENT

Mohammad Zahirul Islam, Managing Director of Smart Technologies (BD) Limited, has taken over as the newly elected president of the Executive Committee of Bangladesh Computer Samity (BCS) for the term of 2025-27. Sony, the world-renowned Japanese electronics brand, has congratulated him on his achievement. Head of Sony International Bangladesh Branch...

China's Alibaba launches e-commerce subsidies of $7b in consumption boost

BEIJING, July 2 (AFP): The online retail platform of Chinese tech giant Alibaba announced Wednesday that it will issue $7 billion in subsidies for certain purchases, providing a much-needed boost for a country struggling with sluggish spending. Taobao, China's e-commerce champion launched by Alibaba in 2003, said in a WeChat...

Tesla's China-made EV sales see first rise in 9 months

BEIJING, July 2 (Reuters): Tesla's sales of its China-made electric vehicles edged up 0.8 per cent in June from a year earlier, snapping an eight-month losing streak, but they continued to fall on a quarterly basis in the face of lower-cost new models from its Chinese rivals.Deliveries of Model 3...