Business Report : Challenging the central bank to go further if it truly wants to save troubled banks, prominent businessman and newly-installed chairman of National Bank Limited (NBL) Abdul Awal Mintoo has said merely restructuring the board of directors of these banks after dissolving the previous ones will not be enough to resolve the crisis in the banking sector. Rather, Bangladesh Bank has to arrange liquidity support to the tune of at least Tk 1000 crore for each of the...
Business Report : Bangladesh Association of Software and Information Services (BASIS) on Tuesday organized “BASIS America Desk Stakeholders’ Meet” with...
Business Report : Prime Bank PLC, a leading financial institution committed to innovation and customer-centric financial solutions, recently signed a new payroll agreement with Dhaka Club Limited at Dhaka Club’s office. This partnership marks a significant milestone in enhancing the financial management and payroll efficiency for Dhaka Club’s employees. Under this agreement, Prime Bank will provide a seamless payroll management solution that will streamline salary disbursements and offer exclusive banking services to Dhaka Club’s Employees. Dhaka Club will enjoy benefit...
Business Report : Dhaka Stock Exchange (DSE) on Tuesday also witnessed an upward trend like earlier as investors continued their buying spree on large-cap issues amid optimism. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 17.57 points or 0.30 per cent to settle at 5,777.96. Two other indices also ended higher with the DSE 30 Index, comprising blue chips, rose 12.49 points to finish at 2,109.45 and the DSE Shariah Index (DSES) advanced 14.30 points...
Gazi Anowar : The Negative Cash flows doubt Padma Islami’s viability as the audit company raised serious concerns regarding the company’s financial activities. It issued a “Qualified Opinion” due to various unresolved issues for the year ending December 31, 2023. One of the critical concerns outlined in the report is related to the Sadaka Fund (Padma Welfare Fund), which amounts to Tk 4.34 crore. The auditors noted their inability to confirm this amount due to a lack of sufficient appropriate...
Business Report : Bangladesh Bank (BB) on Tuesday increased the policy rate, also known as repo rate, again by 50 basis points to 9.50 per cent to contain double-digit inflation. The new rate will be effective from Wednesday (September 25), said a circular issued on the day. This is the fourth hike this year and 11th since May 2022. As a result, the interest rate of the money that the banks borrow from the central bank will increase.Additionally, there will...
Business Report : Some 102 Bangladeshi citizens have 367 overseas bank accounts in 13 countries, the highest in Canada followed by Australia and Singapore, according to a recent report.Malaysia, the UK, the UAE, the US, and Thailand also had a significant number of Bangladeshi bank account holders.Of the individuals, 36 have bank accounts in multiple countries.Bangladesh Financial Intelligence Unit (BFIU) and different law enforcement agencies have traced the bank accounts, suspecting Bangladeshi citizens of siphoning off money into some of...
Business Report : Bangladesh Bank will increase policy rate twice and interest rate for once within the next month in order to tame high inflation in the country, said Ahsan H Mansur, governor of the central bank.“There is no doubt that we are going to tighten the monetary policy more. We will increase it by this week and will do it again in the next month,” Mansur said.Besides, interest rate will also be increased again soon, he said while addressing...