2:45 am - Saturday September 21, 2019
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regulators

Bangladesh moves forward as production hub

maids from BD
Though often described as one of the least developed countries in South Asia, Bangladesh has overcome significant challenges to become a production hub for international companies that want to enjoy the cheap labor and other facilities the country has to offer. During my recent one-week stay in Bangladesh, I had the opportunity to visit some of the country's major factories and Export Processing Zones (EPZ), where thousands of Bangladeshis work to make a living. maids from BDWith its population of over 160 mil...

Govt-ADB to ink $ 167m loan deal for gas sector

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The government will sign with the Asian Development Bank (ADB) $167 million loan agreement for financing a project to improve infrastructure and operational efficiency of the country’s gas sector. Last month, the ADB approved the loan amount to help promote sustainable economic growth and reduce poverty in Bangladesh by improving production efficiency at a key gas field, north of the capital Dhaka, and by expanding transmission infrastructure, reports BSS. Senior Secretary of the Economic Relations Division (ERD) Mohammad Mejbahuddin and ADB adb1

WB to finance BRT project

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The World Bank has shown their interests to finance the Bus Rapid Transport (BRT) project, designed for quick transportation between Gazipur and Dhaka Airport which would take only 20 minutes. Road Transport and Bridges Minister Obaidul Quader said this to reporters after a meeting with the World Bank representative led by acting World Bank country director Rajsree Palongkar at the conference room of his office in Dhaka on Sunday. “We have asked the concerned authority to start the project work soon as the World Bank is wb

Bangladesh free of graft, terror funding risk: BB

bangladesh_bank
Bangladesh has emerged as a country free of risk of money laundering and terror financing, downing fears that the country might re-enter the list for “slack implementation of laws”. In current rating, Bangladesh avoided the International Cooperation Review Group (ICRG) and was declared a risk free nation, Bangladesh Bank said in a statement today. bangladesh_bankFears were on after Asia/Pacific Group on Money Laundering (APG), the global body that ranks countries, acknowledged Bangladesh of having “slack imp...

BHBFC profits Tk 166.98cr during 2015-16 FY

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Bangladesh House Building Finance Corporation (BHBFC) earned profits of Tk. 166.98 crore during the fiscal year 2015-16. From July 2015 to June 2016, the Corporation gained income totaling Tk. 245.18 crore. BHBFC-300During the same time of the last fiscal year the amount was Tk. 242.89 crore. Recovery from loan was 518.40 crore in 2015-2016 FY, which is significant increase of 35.67 crore than the previous year. Loan sanction and disbursement were 260.91 crore and 247.38 crore respectively at that time. Classified loa...

Meeting on BB heist with NY Fed postponed

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A meeting between Bangladesh central bank officials and the New York Federal Reserve scheduled for this week to speed up efforts to recover $81 million stolen from Bangladesh Bank’s account at the Fed has been postponed, officials in Dhaka said. A four-member Bangladesh Bank team headed by deputy governor Mohammad Razee Hassan, who also heads its financial intelligence unit, was to meet Fed officials in New York on July 15. bb“We are in talks with the Fed and hoping that the meeting will take place anytime at the end of this month ...