44 businesses named for industry sector CIP status  

The government on Monday announced the names of 44 businesses as commercially important persons (industry) for their contribution to the country’s overall economy through setting up industries, creating employment and increasing national income in 2021. The industries ministry in a gazette notification selected the CIPs in the industrial sector in six categories. Among the 44 businesspeople, six has been selected under the ex-officio category, 25 under large industries, 10 under medium industries, two under small industries and one under micro industries. According to the notification, every nominated CIP will get a CIP card and enjoy a number of facilities, including priority in seat reservation at government transports in air, road, rail and waterways, getting invitation at national events and letter of introduction from foreign ministry for getting visa to go aboard. The CIPs will be able to use the cards as passes to use the VIP lounge-2 at airports. The CIPs nominated as ex-officio are Sheikh Fazle Fahim, the then president of Federation of Bangladesh Chambers of Commerce and Industry, Kamran Tanvirur Rahman, the then president of Bangladesh Employers Federation, Mohammad Ali Khokon, the then president of Bangladesh Textile Mills Association, Rupali Haque Chowdhury, the then president of Foreign Investors Chambers of Commerce and Industry, AKM Salim Osman, the then president of Bangladesh Knitwear Manufacturers and Exporters Association, and Anwar-ul-Alam Chowdhuty, the then president of Bangladesh Chambers of Industries.

Source: https://www.newagebd.net/article/198503/44-businesses-named-for-industry-sector-cip-status

Bangladesh to receive $1.45b more shortly

Bangladesh expects to bag another dollop of about US$1.45 billion in budgetary-support credit by next month from four other development financiers, apart from the IMF loan, officials said Monday. Finance officials are upbeat that this forthcoming aggregate amount of US dollars would leave a space for relief from the fiscal stress, by way of financing the budget deficit and recharging the country’s falling foreign-Exchange reserves. The forex support now comes from the World Bank, the Asian Development Bank, Japan and the Asian Infrastructure Investment Bank (AIIB). The donors are likely to confirm the financing by next month to ease the financial crunch, Ministry of Finance (MoF) officials said. Meanwhile, the International Monetary Fund (IMF) on January 30 this year approved $4.7 billion worth of budget support for Bangladesh. In early February, it disbursed the first installment $476 million from the $4.7-billion loan package.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/bangladesh-to-receive-145b-more-shortly

Bank deposits increase by Tk17,000cr in Feb

Deposits in the country’s banks increased by about Tk17,000 crore in February compared to the previous month. The amount of loans disbursed by banks during the period has increased by around Tk6,000 crore. Regarding the reasons for the increase in bank deposit, Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank, told TBS, “In October and November last year, there was a crisis of confidence due to various incidents in the banking sector. At that time, we saw a lot of withdrawal pressure in the banks. “The customers’ confidence in banks has recently increased due to various campaigns of the central bank and the commercial banks. Customers are now returning to banks. Besides, most banks have increased interest rates on deposits.” On condition of anonymity, the managing director of a bank said customers of Islamic banks have been making deposits in the conventional banks for the last two months. Foreign banks were also getting very good deposits. Besides, the banks have become very cautious in granting loans as many of the previous loans have defaulted.

Source: https://www.tbsnews.net/economy/banking/bank-deposits-increase-tk17000cr-feb-610570