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The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. FE “CBDCs should not be fragmented national propositions… To have more efficient and fairer transactions we need systems that connect countries: …

The National Board of Revenue has extended the tax exemption facility till 2036 to the private sector power generation companies which will go into commercial operation between June 30, 2024 and June 30, 2025. The income tax wing of the revenue board on Tuesday issued a gazette notification in this …

The Bangladesh Bank has decided to launch a taka-rupee debit card in the country in September to allow travellers to make payments through the card at home as well as in India. The card will allow individuals to make local payments as well as settle payments in the Indian rupee …

Most of the readymade garment (RMG) manufacturers have paid the wages and Eid bonuses on or before April 19, said the Industrial Police and the industry insiders. Moreover, there have been no complaints regarding the payments of wages, allowances and bonuses to the workers of the RMG sector ahead of …

The demand for cash withdrawal has surged before Eid raising the call money rate for interbank transactions. According to Bangladesh Bank website data, the average call money rate increased from 5.99% to 6.19% between April 2 and April 18. Data also shows that the lowest interest rate during this time …

Economists have praised the move to adopt alternative currencies, such as the Indian Rupee and Chinese Yuan, in foreign projects and bilateral trade to ease the foreign exchange reserve. As of Tuesday, the forex reserve stood at $31.11 billion, with the balance of payment in a tight situation due to …

In anticipation of Eid, the sugar market has witnessed a fresh surge in prices, which were already at a record high, after refiners proposed an upward price adjustment in accordance with global rates. FE On Wednesday, sugar rose to Tk 130-145 per kg in retail, up from Tk 118-130 per …

Demand for air conditioners, electric fans and rechargeable fans in the capital Dhaka has surged amid a sizzling hot summer in the country. According to the Bangladesh Meteorological Department, temperature in the capital rose to a 58-year record high to hit 40.6°C on Sunday. Dhaka was one of the 13 …

The amount of money transactions through internet banking soared by 63.63 per cent to Tk 2,19,960 crore in the July-February period in the financial year 2022-23 compared with that of Tk 1,34,425 crore in the same period of the previous financial year, as a growing number of people now prefer …

Weavers of traditional Monipuri-style clothing in greater Sylhet passed busy days ahead of the upcoming Eid-ul-Fitr as sales and prices have been good amid the ongoing festive season, which contributes most of their annual earnings. Traders from all over Bangladesh started arriving at markets in the region about a week …