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Friday | September 04, 2026 | Dhaka

News in Brief

 New Nation
 Published: 12:00 AM, 07 September 2021

Padma Bank sues RMG trader to
recover Tk38cr
Business Desk
Padma Bank has filed a case against a readymade garment manufacturer and exporter from Chattogram for failing to repay a Tk38 crore agricultural loan he had taken from the erstwhile Farmers Bank, despite having no business in the agriculture sector.
Mirage Agro Complex, a company that existed only on paper, took the loan from the bank six years ago. Failing to recover the loan, Padma Bank filed the case with Artha Rin Adalat on 29 August, said sources in the bank.
The sources said Sheikh Mohammad Danial, proprietor of Mirage Agro, and also managing director of Finesse Apparels Limited, took the loan from Padma Bank in 2015. Danial had no agricultural business. His father Abdul Matin is the chairman of Finesse Apparels Limited, an RMG factory at the Karnaphuli EPZ in the port city. Finesse Apparels manufactures and exports trousers.

BD Trade and Investment Summit to be held on Oct 26-Nov 1
Business Desk
Dhaka Chamber of Commerce and Industry (DCCI) will host a weeklong international investment summit virtually next month to deepen Bangladesh’s collaboration with investors from six continents.
Scheduled to be held between October 26 and November 1, the “Bangladesh Trade and Investment Summit” is expected to promote the country as an attractive destination of trading and foreign director investment (FDI).
The DCCI, the most vibrant chamber in Bangladesh, is going to organise the event, in collaboration with the Prime Minister’s Office, the Ministry of Foreign Affairs, the Ministry of Commerce and Bangladesh Investment Development Agency (BIDA).

City Bank signs derivative roduct agreement with Bangla Trac
Business Desk
City Bank has signed an Interest Rate Swap deal of $21.43 million with Bangla Trac Power Unit-1 Ltd for the first time.
An interest rate swap (IRS) is an OTC derivative contract in which two parties periodically exchange interest payments of different types (Fixed and Floating interest rate), on a specified notional principal, during a set period of time.