ADB gives $400 million to support climate priorities in Bangladesh

The Asian Development Bank (ADB) will give Bangladesh a $400 million policy-based loan to support implementation of the nation’s National Adaptation Plan, 2023-2050 and Nationally Determined Contributions 2021 Update to the Paris Agreement to achieve a climate-resilient inclusive development. Bangladesh is one of the world’s most vulnerable countries to the adverse impacts of climate change, recording an annual average loss of about $3 billion. The programme will create an enabling institutional and policy environment to mobilize climate finance, prioritise climate actions in the country’s overall development agenda.

Source: https://www.thedailystar.net/business/news/adb-gives-400-million-support-climate-priorities-bangladesh-3491911

Nagad becomes top VAT payer in service category

Nagad has been honoured by the National Board of Revenue (NBR) with the “Highest VAT Payer Award” at the national level in the service category for the second consecutive year for the fiscal year 2021-22. Currently, Nagad has a base of over 8.5 crore customers. It has revolutionised the disbursements of social safety net allowances, education stipends, and even distributed cash aid to underprivileged families during the Covid-19 pandemic. As in previous years, the revenue board honoured the top nine VAT-paying companies at the national level for FY22 in three categories — production, service and business.

Source: https://www.thedailystar.net/business/organisation-news/news/nagad-becomes-top-vat-payer-service-category-3491941

 Mr. Arequl Arefeen promoted as DMD of Bank Asia

The Board of Directors of Bank Asia Limited has promoted Mr. Arequl Arefeen to the position of Deputy Managing Director (DMD. Mr. Arefeen joined Bank Asia in the year 2003. Later on, he has been taken charges as the Head of Treasury of the bank. He contributed substantially to establish the bank’s treasury at a leading position in the industry. Mr. Arefeen, who is currently serving as the Head of Group Treasury, has extensive experience in banking sector with particular expertise in treasury management, liquidity management, market risk management, asset-liability management, foreign exchange dealing, financial products and derivatives, trade finance and investment portfolios. Prior to joining Bank Asia, he started his professional career in 1995 in IFIC Bank Limited where he covered branch banking, particularly foreign trade. He also served in NCC Bank Limited as a money market and forex dealer.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/arequl-arefeen-promoted-as-dmd-of-bank-asia-1702316180