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There is no chance of famine occurring in Bangladesh, said Selim Raihan, executive director of Sanem, a research organisation, yesterday. “Famine is a very strong word and it often creates panic. I think there is no chance of famine in Bangladesh. We have passed that time,” he said. He, however, …

The continued spiralling prices of sugar, which has more than doubled since 2020, is making it dearer for the general people who are already struggling amid a price hike of essential commodities. Sugar Price Hits Fresh High Sugar price has hit a fresh high at Tk 125 per kilogram in …

The country has secured a preliminary agreement for a $4.5 billion loan that will be extended by the International Monetary Fund (IMF) over the next three years. Implementation Main Challenge However, the availability of the loan depends on the implementation of economic policies put forward under the preliminary agreement. This …

The two major political parties continue to show off their strength through big gatherings as the national election nears, challenging and daring each other to take a popularity test through the polls. But for now, everyone’s attention — from the general public to political analysts and nervous businessmen — is …

Total remittance flow through the local agent banking channel has crossed the Tk100,000 crore-mark since its inauguration in 2013, boosting rural savings in the process, according to the Bangladesh Bank. Central bank data showed that remittance more than Tk106,000 crore has been distributed through agent banking till September this year. …

The source tax on local food suppliers was reinstated by the National Board of Revenue (NBR), and they will now only be required to pay a 2% source tax. Previously, sellers who supplied locally produced food items had to pay a source tax of 4%. During Covid-19, NBR decreased the …

Many banks in Bangladesh have reined in opening most of the letters of credit (LC), including for importing daily necessities, due to the ongoing crisis of foreign currencies in the country. Even with the dollars coming from remittances and export earnings, the bank authorities are unable to pay their import …

Dhaka, Nov 16: Bangladesh Bank has allowed mobile financial service (MFS) providers to repatriate (conversion of foreign currency into local currency) export income and inward remittance, reports UNB. All authorised dealers will provide encashment certificate to MFS providers against inward remittance, on account of information technology enabled services (ITES) exports. …

Bangladesh Bank is seeking to curtail the powers of the banks’ board of directors to waive interest on loans without consultations with the relevant departments. The central bank’s Banking Regulations and Policy Department on Wednesday issued a circular in this regard. It instructed the banks in case of interest waiver …

Singapore has shown its keen interest to explore the many trade potentials in different Bangladeshi sectors such as infrastructure development, energy and data mining. This was discussed while Singaporean Transportation Minister and Minister in Charge of Trade Relations S. Iswaran held a bilateral meeting with the State Minister for Foreign …