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The maiden tax amnesty offered by the government to bring back laundered money home has seemed to have brought no result since none secured the facility in the first six months of the current fiscal year. In the past, governments offered opportunities to whiten untaxed money generated in the country. …

Branches of banks in Bangladesh have gone past the 11,000-mark for the first time despite expanding digitalisation in the financial sector, central bank data showed. Scheduled banks had 11,030 physical branches in October, according to the Bangladesh Bank review of e-banking and e-commerce statistics. Scheduled banks facilitate financial transactions by …

Of all the money spent behind the 4,500 types of goods imported through the Chattogram port in the first five months of fiscal year 2022-23, more than 51 per cent or Tk 104,600 crore was spent for only 20 products. The 20 include old ships and scrap, diesel, furnace oil, …

The financial account of the balance of payments (BoP) turned negative in the first five months of the current fiscal year, highlighting the challenges Bangladesh is facing in protecting its foreign currency reserves from depletion as funds outflows exceeded inflows. A financial account is a component of the BoP that …

Placement of funds from offshore banking operations (OBOs) with domestic banking units will continue to facilitate import payment, amid the forex crisis. The central bank Wednesday extended time for fund transfer from OBOs to facilitate settlement of import payments for capital machinery, industrial raw materials and imports by the government. …

The Federation of Bangladesh Chambers of Commerce and Industry has called for building a skilled workforce to achieve the sustainable development goals. Importance should be given to setting up technical and vocational training centres in every district and upazila along with conventional educational institutions, it said. FBCCI made the call …

The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch. Economists warn that if the government consistently borrows from the central bank, it may stoke inflation in the coming days. Between July 1 and …

The commerce ministry yesterday requested the Bangladesh Bank for keeping a certain quota of the US dollar to facilitate import of six essential commodities to ensure smooth supply of the goods during the Ramadan. The ministry’s move comes as a dip in imports of a number of essentials created a …

The government is going to allow commercial cultivation of non-native vannamei species of shrimp, also known as whiteleg shrimp, as experimental farming in three farms in the southern coastal region showed severalfold higher yields compared to that of locally farmed black tiger shrimp. The development comes as a technical panel, …

Oil prices were little changed on Friday as the market balanced a weaker U.S. dollar and mixed U.S. jobs reports, but both crude benchmarks ended the first week of the year lower due to global recession concerns. Brent futures fell 12 cents, or 0.2%, to settle at $78.57 a barrel, …