Business Report : Bangladesh Bank has mandated that directors of all banks must now attend board meetings in person, officially ending the “hybrid” meeting model that allowed virtual participation during the pandemic. The central bank issued this directive through its Banking Regulations and Policy Department on Wednesday, instructing the top executives of all banks to implement the changes immediately. During the Covid-19 pandemic, a hybrid model had been introduced to facilitate remote participation in board and subsidiary committee meetings. However,...
Business Report : Bangladesh Bank has mandated that directors of all banks must now attend board meetings in person, officially ending the “hybrid” meeting model that allowed virtual participation during the pandemic. The central bank issued this directive through its Banking Regulations and Policy Department on Wednesday, instructing the top executives of all banks to implement the changes immediately. During the Covid-19 pandemic, a hybrid model had been introduced to facilitate remote participation in board and subsidiary committee meetings. However,...
Business Report : Commending the ongoing reform process to stabilize the financial sector, the country’s commercial bankers sought regular consultation...
Business Report : Bangladesh’s external debts shot to an astounding $103.78 billion by June 2024, a colossal leap from just $23.5 billion in 2009 when the Awami League-led government came to power. This indicates a staggering 341 per cent increase over the past 15 years, amounting to over $80 billion in new foreign loans. Such an astronomical rise in external debts not only signals deepening financial mismanagement but also exposes the country’s alarming overdependence on foreign loans to finance its...
Business Report : The World Bank will support the reform of Bangladesh’s banking sector, and is likely to provide a total of $2 billion in support in the current FY25, which would include budgetary support and project assistance. Martin Raiser, vice-president for South Asia at the World Bank, and Finance and Commerce Adviser Salehuddin Ahmed said on Thursday after a meeting between the two at the latter’s Secretariat office. Regarding the meeting, Salehuddin Ahmed said: “Discussions covered various topics with...
Business Report : The Bangladesh Securities and Exchange Commission on Wednesday appointed two independent directors to the board of Dhaka Stock Exchange, and seven independent directors to the board of Chittagong Stock Exchange. The two independent directors appointed to the DSE board are AF Nesaruddin, senior partner of Hoda Vasi Chowdhury & Co, and Syeda Zakeerin Bakht Nasir, chief consultant and CEO at ZN Consultants. Earlier, on September 1, the BSEC appointed seven independent directors to the DSE’s board, but...
Business Report : City Bank has recently launched its Visa Infinite credit card, offering unprecedented benefits that make it the...
Business Report : United Lube Oil Limited, the exclusive distributor of Petronas Lubricants in Bangladesh, has entered into a strategic...
Business Report : American Chamber of Commerce in Bangladesh (AmCham) held a CSR and Sustainability event on Thursday at its...
Former Italy striker Salvatore Schillaci, a star of the 1990 World Cup on home soil, died at the age of 59, his former clubs Inter Milan and Juventus said on Wednesday. Schillaci led Italy to their third-place finish in 1990, winning the Golden Boot for his six goals during the tournament, including in the semi-final against Argentina and in their third-place victory over England. Schillaci, who was born in the Sicilian city of Palermo and was hospitalised there, suffered from...
Sports Reporter : India National Cricket team piled up 339 for the loss of six wickets on the Day 1 play of the first Test cricket match against Bangladesh National Cricket team at MA Chidambaram Stadium in Chennai on Thursday. Hasan Mahmud bowled extremely well. He finished his opening day spell as 18-4-58-4. India had a poor start as opener Rohit Sharma (6) was caught at the second slip by Najmul Hossain Shanto off Hasan Mahmud when India’s score was...