Day: September 6, 2024

Business Report : The Bangladesh Securities and Exchange Commission on Sunday started an investigation into the approval process of initial public offering and share manipulation involving nine companies, Beximco’s Sukuk, and issuance and selection of Bashundhara Group’s company as strategic investor of Chittagong Stock Exchange. The decision to probe into allegations of irregularities was made at an emergency commission meeting on the day. A 5-member investigation committee was formed headed by Zia U Ahmed, the founder chairman and consultant of...

Business Report : A task force is being formed to bring back laundered money from abroad, Finance Adviser Salehuddin Ahmed said on Thursday. Following a meeting with a delegation of buying houses at the finance ministry, the adviser told reporters that the government had already announced the formation of this task force. “Since the interim government took over, numerous programmes have been implemented and measures have been taken to address defaulted loans,” he said. “Banks experiencing difficulties are undergoing reorganisation,...

Business Report : The newly formed Board of Directors of Islami Bank Bangladesh on Thursday exchanged views with Bangladesh Bank’s Governor Dr Ahsan H Mansur. The governor expressed his satisfaction on daily positive balance of Islami Bank’s current account maintained with Bangladesh Bank. Regarding the restrictions related to business operations, the governor stated that, there will be no more restrictions on the business operations and opening Letter of Credits in Islami Bank from now on. Necessary instructions will be given...

Business Report : Investit Asset Management Limited has taken the initiative to launch its first open-end mutual fund named “Investit Growth Fund.” The asset manager signed a trust deed with Sandhani Life Insurance on 2 September. Investit is the main sponsor of the fund, while BRAC Bank will serve as the custodian, according to the press release. Investit said in the press release, that this new fund is designed to provide investors with superior risk-adjusted returns through a focused investment...

Business Report : The National Board of Revenue (NBR) has reduced taxes on the import of onions and potatoes to boost supply and curb the rising prices of these essential items. The customs administration lifted the tariffs on onion imports to 5 percent and on potatoes to 15 percent, effective until November 30. “The NBR expects that the prices of both items will reach more tolerable levels following the reduction in import duties,” said the revenue authority in a statement...

Business Report : Mutual Trust Bank PLC. (MTB) recently signed an agreement with Starpath Holdings Ltd. to provide Payroll Banking Services to its employees. Md. Shafquat Hossain, Deputy Managing Director & Head of Retail Banking of MTB and Md. Wahiduzzaman, Managing Director & CEO of Starpath Holdings Ltd were seen exchanging the documents at a simple ceremony held at the bank’s head office in the capital recently. The signing ceremony was organised by MTB.Md. Anisur Rahman, Branch Manager; Principal Branch,...