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

Legal reforms needed to allow bourses to sell brokers' assets

The exchanges do not have the legal right to sell stakes of brokers in their custody when it comes to settling claims of investors who have fallen victim to financial frauds committed by the intermediaries.That is one major factor as to why clients of Tamha Securities, Crest Securities, Shah Mohammad...

Bank accounts of former BSEC chair, his son, six others frozen

The Bangladesh Financial Intelligence Unit (BFIU) has issued an order to freeze the bank accounts of eight individuals, including former chairman of the Bangladesh Securities and Exchange Commission (BSEC) Shibli Rubayat-Ul Islam and his son Juhair Sharar Islam.Additional director Mr. Kamal Hossain of BFIU confirmed this to The FE.The other...

Shareholders linked to S Alam Group barred from selling bank stocks

The securities regulator has imposed restrictions on purchase, sale, and transfer of shares by the entities of S Alam Group, its owners and family members of six banks.Five of the banks involved are listed on the stock exchanges.To this effect, the Bangladesh Securities and Exchange Commission (BSEC) issued an order...

NCC BANK LAUNCHES VISA DEBIT, CREDIT, AND PREPAID CARD FOR WOMEN

National Credit and Commerce (NCC) Bank has launched Visa debit, credit, and prepaid card for women. Managing Director and Chief Executive Officer M Shamsul Arefin launched the cards on Monday at the bank's head office. Deputy Managing Director (DMD) Md. Mahbub Alam and the Head of Women Banking & Sustainable...

SHAHJALAL ISLAMI BANK SIGNS MOU WITH PURPLE CARE

Shahjalal Islami Bank signed a Memorandum of Understanding (MoU) with Purple Care Limited at the bank's SIB Tower Branch on Sunday. The bank's Additional Managing Director S.M. Mainuddin Chowdhury, the Head of SME and AgriInvestment Division Abdur Rahim and Branch Manager Mosleh Uddin Ahmed and the Chairman of Purple Care...

Dr Abdullah Yousuf new DG of BARI

Agricultural scientist and biotechnologist Dr Md Abdullah Yousuf Akhond has been appointed as the Director General (Routine Charge) of Bangladesh Agricultural Research Institute (BARI), says a press release. Previously, he served as the Director (Research) of BARI, Gazipur.Dr Akhond started off his career at the Bangladesh Agricultural Research Institute's at...

35TH AGM OF BASIC BANK HELD

The 35th Annual General Meeting (AGM) of state-owned BASIC Bank Limited was held at its head office on Tuesday. Prof Dr. Abul Hashem, chairman of the bank, presided over the meeting. Md. Shah Alam, additional secretary, Financial Institutions Division, Ministry of Finance, attended the meeting as a representative of the...

NATIONAL BANK SIGNS MOU WITH YORK HOSPITAL

A Memorandum of Understanding (MoU) was signed between National Bank Limited and York Hospital Limited recently. The document of the agreement was handed over at the bank's head office on Monday. Md. Touhidul Alam Khan, Managing Director & CEO of the bank, was present as the chief guest at the...

Farewell reception to JBC General Manager

Jiban Bima Corporation Managing Director and Additional Secretary of the government Md Muhibuzzaman and others present a bouquet to JBC General Manager Abul Khayer Mohammad Hafizullah Khan (joint secretary) at a farewell reception at the JBC head office in the city on Tuesday.

349TH BOARD MEETING OF IFIL HELD

The 349th meeting of the Board of Directors of Islamic Finance and Investment Limited (IFIL) was held at its head office on Tuesday. K.B.M. Moin Uddin Chisty, Chairman of the Board of Directors of IFIL, presided over the meeting. Among others, Directors Abul Quasem Haider, Mostanser Billa and Asgar Haider,...

Global shares march higher on Fed rate cut bets

LONDON, Aug 20 (Reuters): European shares hit a 2-1/2 week high on Tuesday, tracking a Wall Street rally driven by expectations that the Federal Reserve could offer further hints of imminent rate cuts later this week.With the data calendar relatively light across major economies this week, all eyes are on...

Major Gulf markets subdued on oil demand concerns

Major stock markets in the Gulf were subdued on Tuesday amid concerns of weak oil demand, even as rising expectations of a US interest rate cut next month provided some support, reports Reuters.Oil prices, a catalyst for the Gulf's financial markets, edged lower on easing worries about a supply disruption...

India markets regulator proposes ways to ease corporate fundraising via share sales

BENGALURU, Aug 20 (Reuters): India's markets regulator proposed on Tuesday that companies be allowed to also sell shares to new investors, in addition to existing shareholders, to raise funds, among other measures to ease corporate fundraising.The regulator also proposed that a company allow other investors to buy into an unsubscribed...

Citic, CICC among 10 brokerages included in China's Greater Bay Area wealth scheme

HONG KONG, Aug 20 (Reuters): China and Hong Kong are set to expand a pilot wealth scheme that allows residents to invest cross-border by adding the first batch of 10 securities firms, including the countries' largest brokerages, two people with direct knowledge told Reuters.The 10 securities companies include Hong Kong-listed...

India and Malaysia look to reset ties with trade boost

NEW DELHI, Aug 20 (Reuters): Prime ministers of India and Malaysia sought to reset relations between the two countries on Tuesday as they agreed to boost trade, movement of workers and the use of their own currencies to settle bilateral transactions.Malaysia is home to nearly 3 million people of Indian...