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Economy

10 more banks sign for green transformation fund

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Bangladesh Bank (BB) has signed separate agreements with 10 more private banks to facilitate fund for a long-term financing under the "Green Transformation Fund for Export-oriented Textile and Textile Products and Leather Manufacturing Industries". Under the deals, the ten banks - Al-Arafah Islami Bank Limited, Bank Asia Limited, Exim Bank bbLimited, Modhumoti Bank Limited, Mutual Trust Bank Limited, NCC Bank Limited, NRB Bank Limited, Dhaka Bank Limited, South Bangla Agriculture and Commerce Bank Limited and Trust Bank Limited - woul...

ADB for increasing private investment

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Vice President of Asian Development Bank (ADB) Wencai Zhang today said Bangladesh needs to take steps to increase private investment for maintaining the present trend of economic growth. “Infrastructure development is imperative for Bangladesh to ensure an investment friendly environment,” said the visiting ADB vice president at a press conference here, reports BSS. He said Bangladesh needs to build developed road connectivity in the country and at the same adb1time it will have to attach importance to develop regional connectivity...

Islami Bank’s explanation on published reports

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Some recently published newspaper reports about Islami Bank Bangladesh Limited has drawn our attention. The fact and the Bank’s statements in this regard are as follows: Notice of a meeting of the Board of Directors of the Bank are provided to all directors local and foreign regular and timely complying to all the country's existing laws, regulatory rules and in accordance with the Bank's articles of association. As soon as giving of the notice, documents/memos regarding the meeting are provided to the directors via intra-web and are IBBL

Regional integration to achieve sustainable development

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ICC Bangladesh President Mahbubur Rahman briefed the press about the forthcoming Asia-Pacific Business Forum (APBF) 2017 on Thursday 26 January. APBF on will be jointly organized by the International Chamber of Commerce (ICC) Bangladesh and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in Dhaka, Bangladesh, on 8-9 February 2017. The Forum will be held under the patronage of the Ministry of Commerce of the Government of Bangladesh. The theme of the 2017 Forum is “Regional Integration to Achieve Sustainable Development” as envisaged by the United Nations’ Sustainable Development Goals (SDGs). The Asia-Pacific Business Forum (APBF) is the flagship regional business event organized by

Export earnings to exceed $ 60b in 2021: Commerce Minister

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Four-day long 3 international sourcing trade shows on RMG industry with participation of around 400 companies from more than 24 countries began yesterday (18 January, 2017, Wednesday) at International Convention City, Bashundhara (ICCB) in a bid to making apparel industry more developed. Tofail Ahmed, M.P., Hon’ble Minister for Commerce, Govt. of People’s Republic of Bangladesh inaugurated the three international events as the chief guest. Annisul Huq, Mayor, Dhaka North City Corporation (DNCC) were also present at the event as the Special Guest. In the inaugural ceremony Tofail Ahmed said, Export earning was US$ 14 billion when the

Fitch affirms Bangladesh at ‘BB-‘; Outlook stable

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Fitch Ratings has affirmed Bangladesh's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB-'. The Outlooks on the Long-Term IDRs are Stable. The Country Ceiling has been affirmed at 'BB-' and the Short-Term Foreign- and Local-Currency IDRs at 'B'. KEY RATING DRIVERS Bangladesh's ratings balance strong foreign-currency earnings and high and stable real GDP growth against weak structural indicators, significant political risk and weak banking-sector health. Bangladesh's external finances are supported by comfortable and gradually rising foreign-exchange reserves, amounting to USD32.1bn in December 2016 (7.9 months of current external payments, compared with 4.4 months f...