NBR examines scope for tax rebate on sukuk income

The National Board of Revenue (NBR) is examining the scope for giving tax  rebate on the income of individuals who are investing in the shariah-based sukuk bond, said a senior official of the tax authority. The government raised Tk 8,000 crore issuing sukuk bonds for the first time in fiscal year 2020-21 to lure investors who are reluctant to put their money into interest-bearing T-bills, bonds and other government securities. During the current fiscal year, the government borrowed Tk 5,000 crore by sukuk. The aim was also for making use of excess liquidity that Shariah-based banks were sitting on for years as they were are unable to invest the funds in the T-bills and bonds.

Source: https://www.thedailystar.net/business/economy/industries/tax-customes/news/nbr-examines-scope-tax-rebate-sukuk-income-2940716

Incentive for software, ITES makers for export over $5,000: Bangladesh Bank

Software and information technology-enabled services (ITES) will enjoy export incentive if they abide by some rules set by the Bangladesh Bank during virtual shipment of products worth over $5,000. However, the businesses have to submit contract related papers and other documents in case of export of software and information technology-enabled services through international market places.

Source: https://www.thedailystar.net/business/news/5000-incentive-software-ites-exporters-bangladesh-bank-2940461

 New Independent Director of Standard Bank

Mr. Golam Hafiz Ahmed has been appointed as Independent Director as well as Chairman of the Audit Committee of Standard Bank Limited. Mr. Hafiz started his banking career with Chartered Bank in 1982. Throughout his 34 years illustrious banking career he held different senior management positions in Standard Chartered, Pubali Bank, Bank Indosuez, Dhaka Bank and NCC Bank Limited. After retirement as Managing Director & CEO of NCC Bank, Mr. Hafiz joined Islami Bank Foundation in 2018 as Executive Director and served until January 2020. He has completed a leadership course on Value Creation in Banking from French business school ‘INSEAD’

Source: https://today.thefinancialexpress.com.bd/stock-corporate/new-independent-director-of-standard-bank-1642350229