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

Ring Shine Textiles to appeal to regulator to unfreeze IPO fund

The struggling Ring Shine Textiles obtained shareholders' consent to extend its IPO fund utilization time by one more year to December next year.It had raised Tk 1.50 billion under the fixed price method in August 2019 but failed to use its initial public offering (IPO) proceeds although the deadline passed...

Mechanisation in farming needs easy access to funds: USAID study

Access to finance is a big barrier to mechanization in farming in Bangladesh and so the lenders should do more to support the agriculture sector."Smallholder farmers and agri-businesses in Bangladesh continue to face significant barriers in accessing the financial resources they need to thrive," reads a press release issued by...

Shawkat Ali Khan joins Padma Bank as chairman

Md. Shawkat Ali Khan, the chief executive officer and managing director (MD) of Sonali Bank, has been appointed as the new chairman of Padma Bank.He chaired the 120th board meeting at Padma Bank's head office in the capital's Gulshan on Wednesday.Mr. Khan served as MD of Bangladesh Krishi Bank before...

Trust Bank to invest more in MFS subsidiary

Trust Bank has decided to invest Tk 312.5 million to strengthen its position in the rapidly growing mobile financial services industry, aiming to capture a bigger market share. The listed private commercial bank made the decision at a board meeting on Wednesday, according to a stock exchange filing on Thursday."Currently,...

Nazia Kabir first female independent director of Prime Bank

Nazia Kabir, an advocate at the High Court Division of the Supreme Court of Bangladesh, and partner at legal advisory firm 'Syed Ishtiaq Ahmed & Associates' recently joined the board of directors of Prime Bank as its first female independent director, according to a press release.Nazia Kabir holds a Bar-at-Law...

ISLAMI BANK INAUGURATES MODHUBAG SUB-BRANCH

Islami Bank Bangladesh inaugurated its Modhubag sub-branch under its Mouchak branch in the capital on Thursday. Mohammed Monirul Moula, managing director of the bank, inaugurated the sub-branch as the chief guest. Mahmudur Rahman, deputy managing director, presided over the programme while Mawlana Sadiqur Rahman Azhari addressed the event as the...

Fed's hawkish tilt has emerging markets scurrying to save currencies

MUMBAI/SINGAPORE, Dec 19 (Reuters): Central banks from Brazil to Indonesia scrambled to defend their struggling currencies on Thursday, hours after the Federal Reserve jolted markets by indicating it may not cut rates by much next year.The Fed's tacit acknowledgement of the inflationary risks likely to come from incoming president Donald...

Health, wellness digital toolkit for RMG workforce launched

AYAT Education, in partnership with Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the John C. Martin Foundation, and Integral Global, officially launched the Health and Wellness Digital Toolkit for Bangladesh's Ready-Made Garment (RMG) workforce at the BGMEA head office in the capital on Thursday, reports BSS.The e-toolkit is designed to...

Collective effort needed to build resilient capital market in BD

Institute of Chartered Secretaries of Bangladesh (ICSB) organised a seminar titled "Strengthening Governance Framework-Way Forward to a Vibrant Capital Market" at the IDEB Bhaban in the city on Wednesday. Md Mohsin Chowdhury, Commissioner, Bangladesh Securities and Exchange Commission (BSEC), attended the seminar as the chief guest while Prof Abu Ahmed,...

National Bank’s services to remain suspended

National Bank Limited has received approval to temporarily suspend all banking services to facilitate a seamless migration to a new core banking software system, reports BSS.To this end, Bangladesh Bank issued a circular on Thursday.According to the circular, all banking services of the National Bank Limited will be suspended from...

IFIC Bank holds seminar on Financial Literacy

IFIC Bank PLC, in collaboration with the Jagannath University Marketing Alumni Association (JUMMA), has conducted a seminar on 'Financial Literacy and Banking Careers' at the central auditorium of the Jagannath University recently. Fariha Haider, Head of Centralised Retail Marketing Department of IFIC Bank, featured as the keynote speaker at the...

MJL Bangladesh PLC holds 26th AGM

The 26th Annual General Meeting (AGM) of MJL Bangladesh PLC (MJLBPLC) was held on a virtual platform on Thursday. Shareholders of the company approved a 52 per cent cash dividend. The meeting was presided over by Abdul-Muyeed Chowdhury, Chairman, MJLBPLC. MJLBPLC Managing Director Azam J Chowdhury, Director & Audit Committee...

Sonali Bank arranges view exchange meeting

Sonali Bank PLC arranged a view exchange meeting with its high officials to recover classified loans, write off loans and disbursement of new loans at its head office in the city on Thursday. MD & CEO of the bank Md Shawkat Ali Khan attended the meeting as the chief guest....

First Security Islami Bank holds executive dev programme

First Security Islami Bank PLC has organised a executive development programme at the bank's head office recently. Mohammad Abdul Mannan, Chairman of the bank, was present as the chief guest in the programme. Md Azizur Rahman, Vice Chairman, Syed Waseque Md Ali, Managing Director, Abu Reza Md Yeahia, Additional Managing...

Modhumoti Bank PLC organises virtual confce

Modhumoti Bank PLC organised an 'Anti Money Laundering & Combating Terrorist Financing Conference -2024' for MMBPLC Agents and Agent Banking Officials at the bank's head office in the city on Wednesday. Md Shafiul Azam, Managing Director & CEO of the bank, was present as the chief guest. Shahnawaj Chowdhury, Additional...