Three troubled banks received Tk 2.65 billion more as liquidity support from four affluent banks under the central bank's guarantee scheme, officials said. Under the arrangement, First Security Islami Bank received Tk 500 million, National Bank Tk 650 million and Exim Bank Tk 1.50 billion from fou
The Bangladesh Economic Zones Authority (BEZA) looks to ensure social and environmental sustainability across a vast region surrounding its flagship economic zone (EZ) in Chattogram. It has been conducting a major study to understand the impact of vast industrial city development across 33,000 acr
Bangladesh's ready-made garment (RMG) exports to the European Union (EU) sustained a 2.47 per cent year-on-year negative growth during the first nine months of 2024. Apparel exports to the EU between January and September fetched 13.43 billion euros compared to 13.77 billion euros during the corre
Bangladesh loses US$355 million in taxes annually as multinational corporations and individual tycoons are parking funds in tax havens to underpay tax, reveals a report on capital flight. The report, launched Tuesday by Tax Justice Network, says tax loss has declined in recent findings from a heig
Three struggling banks have received Tk 2.65 billion (Tk 265 crore) in liquidity support under a Bangladesh Bank credit guarantee scheme, aimed at stabilising the country’s banking sector amid ongoing cash flow issues. Husneara Shikha, Executive Director and Spokesperson of Bangladesh Bank,
Finance Adviser Dr Salehuddin Ahmed on Tuesday said that no bank would be shut down in the country as some banks are recovering well and others may continue to struggle. “We’re trying and corrections are being made in the banking sector… Islami Bank is on the path to recovery. T
Economic downturn has not impacted the direct tax collection from large taxpayers in the first quarter of the current fiscal year (FY), 2024-25, according to the tax officials concerned. The Large Taxpayers Unit (LTU), where all banks among other big payers, collected 12.14-per cent higher revenue
National Board of Revenue (NBR) Chairman Abdur Rahman Khan has warned that tougher steps will be taken to address gold smuggling, streamline tax procedures and ensure fair pricing of essential goods. Speaking at a press briefing after inaugurating a passenger service help desk at the airport custo
Bangladesh Bank Governor Ahsan H. Mansur has dismissed concerns about the financial crisis, assuring that the prevailing challenges are manageable. "We are not in a crisis. The issues in the financial sector are fully solvable. We won't face a situation like Sri Lanka or any other countries experi
The growing wealth inequality in societies is making it harder to reduce poverty and also increasing the vulnerability of financial systems in developing countries like Bangladesh. To this end, experts suggest collaboration of banks with technology-driven companies like MFSs and telcos, innovative
Domestic credit card spending in Bangladesh registered a robust growth rate of 14.42 per cent in September 2024, reaching Tk 26.68 billion, according to data from the Bangladesh Bank. This surge reflects increased consumer activity compared to Tk 23.32 billion in the previous month of August. Sim
Bangladesh's large-scale manufacturing sector surmounted setbacks to get on an upturn as owners and economists see further advances ahead now that the dust settles through political transition. The sector, which accounts for over 11 per cent of the country's GDP, started the fiscal year 2025 on a
Bangladesh Bank has reduced the charges for income tax payments through mobile financial services, debit and credit cards and internet banking. As per a notification issued by the Payment Systems Department of Bangladesh Bank on Wednesday, Tk 20 can be charged to a customer for payment of less tha
