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

IMF assists BB task force to address vulnerabilities in financial sector

The International Monetary Fund (IMF), in collaboration with other development partners - the World Bank, Asian Development Bank (ADB), USAID, and the UK's FCDO - is assisting the task force formed by Bangladesh Bank (BB) to address vulnerabilities in the financial sector, reports BSS."The IMF, which has been a steadfast...

BRAC Bank, MetLife sign agreement for employee insurance

BRAC Bank has signed an agreement with MetLife Bangladesh to offer its employees and their dependents comprehensive life and medical insurance coverage. This partnership will ensure that more than 22,000 BRAC Bank coworkers and dependents are protected against medical expenses, accidents, disabilities, and loss of life, says a statement.BRAC Bank...

Dr. Vijay Prakash MD of BIFPCL

Dr. Vijay Prakash joined Managing Director of Bangladesh-India Friend-ship Power Company (Pvt.) Limited (BIFPCL) on Tuesday. Prior to taking over this position, he was serving as Executive Director (Safety, Sustainable Development, Environment and Ash Utilization) at NTPC Limited, India, says a statement. Dr. Vijay Prakash was born in 1966 in...

IFIC Bank opens new sub-branch in Sylhet

IFIC Bank has opened its 1,217th uposhakha or sub-branch at Zindabazar in Sylhet city. President of the Sylhet Press Club Ikramul Kabir inaugurated the sub-branch at Sadar's Sohir Plaza on Tuesday while Sylhet Branch Manager Md Abdul Quayum Chowdhury presided over the event.

CCCI administrator’s tenure extended

CHATTOGRAM, Oct 02: The Chittagong Chamber of Commerce and Industry (CCCI) Administrator and Chattogram Additional Divisional Commissioner (General) Muhammad Anwar Pasha's current tenure has been extended by 90 days to a total of 210 days.The extension was notified in a letter signed by Amit Deb Nath, Senior Assistant Secretary (Additional...

Kacchi Express in Ctg fined Tk 0.11m

CHATTOGRAM, Oct 02: The Directorate of National Consumer Rights Protection (DNCRP) fined Kacchi Express, a restaurant located at GEC Circle in the port-city, Tk 0.11million (1.10 lakh) for using unauthorised and harmful chemical as well as date expired spices in cooking biryani and storing it in unhygienic condition.The drive was...

EBFCI seeks to invest in pharma, healthcare, agriculture, HR sectors

The Bangladeshi expatriate businessmen living in Europe have expressed their keen interest to invest in the country's pharmaceuticals, healthcare, agriculture, processed food, education, technology, services sector and human resources development.The interest was shown when a 26-member delegation of Europe-Bangladesh Federation of Commerce and Industry (EBFCI) held a meeting with the...

Union Bank workshop held

Union Bank Training Institute organised a daylong workshop on 'Shariah Complaint in Banking'. Chairman of the Board of Directors of Union Bank Md. Fariduddin Ahmad inaugurated the workshop as the chief guest. Chairman of the Audit Committee Sheikh Zahidul Islam was present as special guest while Managing Director A. B....

Denmark wants to invest in BD’s port, offshore wind energy

Denmark has expressed keen interest to invest into Bangladesh's port infrastructure and offshore wind energy as well as support to further development of the pharmaceutical sector, reports BSS.These were revealed while Danish Ambassador to Bangladesh Christian Brix Moller held a meeting with Foreign Secretary Md. Jashim Uddin at the foreign...

France Ambassador Marie Masdupuy called on LGRD and Cooperatives Adviser AF Hasan Arif

France Ambassador Marie Masdupuy called on Local Government, Rural Development (LGRD) and Cooperatives Adviser AF Hasan Arif at his LGRD office in Dhaka on Tuesday. They discussed issues relating to climate change, safe drinking water, sanitation, etc. at the meeting.

Govt revenue evaded thru’ fake travel tax at Benapole customs checkpost

BENAPOLE, Oct 02 (UNB): Government revenue is being evaded at Benapole International Customs Checkpost through the use of fake travel tax receipts, according to customs officials.A broker group operating at the checkpost is reportedly defrauding the government by issuing fraudulent receipts to travelers, bypassing official tax payments.Customs officials arrested a...

UK fines digital bank Starling for ‘shockingly lax’ controls

LONDON, Oct 02 (AFP): A UK regulator Wednesday said it had fined startup Starling Bank £29 million for "shockingly lax" controls that "left the financial system wide open to criminals and those subject to sanctions".The Financial Conduct Authority (FCA) fined Starling, an online challenger bank taking on established lenders in...

Philippines to tax foreign-based digital service providers

MANILA, Oct 02 (AFP): Philippine President Ferdinand Marcos on Wednesday signed into law a measure that imposes a 12 per cent value-added tax on foreign-based firms providing digital services in the country.The tax applies to a vast range of products and services including search engines, software licensing, mobile apps, online...

US fund association picks new board

NEW YORK, Oct 02 (Reuters): The Managed Funds Association, an alternative asset management trade group, announced on Wednesday its new board of directors, as well as its chair Jody Gunderson, managing principal at $16 billion credit investment firm AB CarVal, as the industry prepares for the threat of higher taxes...