Universal pension from July, monthly contribution Tk500-5000

The government is set to launch the universal pension scheme nationwide in July, with individual contributions ranging from a minimum of Tk500 to a maximum of Tk5,000 per month. Individuals aged above 50 will also be able to join the scheme, but to be eligible for the pension, they will need to make contributions for 10 years, according to finance ministry officials. The scheme will initially target four categories – private sector employees, non-resident Bangladeshis, individuals from the informal sector, and insolvent individuals. According to the officials, individuals living below the poverty line will be classified as insolvent and the finance ministry is currently analysing the methods for identifying them. Government beneficiaries who are very poor may also be included in this category. And their monthly contribution is likely to be set at Tk500. The monthly contribution for private sector employees is likely to be set from a minimum of Tk1,000 to a maximum of Tk5,000.

Source: https://www.tbsnews.net/economy/universal-pension-july-monthly-contribution-tk500-5000-648746

Country’s export earnings to rise by $70b in FY24

Commerce Minister Tipu Munshi on Monday said the country’s export earnings most hopefully will be increased to $70 billion in the next year. The government has formulated a series of import policies aiming to strengthen the position of the country for bringing mobility in export under competitive global trade, the minister said while responding to a question tabled by treasury bench lawmaker Morshed Alam of Noakhali-2 in parliament. To promote the export trade, Tipu Munshi said the government has encouraged the establishment of labour intensive industries. Even the national export trophy 2018-19 has been provided to encourage the exporters. The government has developed the Export Development Fund (EDF) to $7 billion aiming to facilitate procurement of raw materials for the exporters.

 Source: https://www.tbsnews.net/economy/countrys-export-earnings-rise-70b-fy24-648718

Dutch-Bangla Bank gets new chairman

Sadia Rayen Ahmed was elected the Chairman of Dutch-Bangla Bank Ltd. at the 267th meeting of the Board of Directors of the bank on Monday. She succeeds Sayem Ahmed, says a press release. Sadia Rayen Ahmed has been serving as a Director of the bank since June 14, 2022. She has business experience since 2012 as the Deputy Managing Director (Finance) of various textile spinning mills with monthly export of $80 million. She completed her education from the American International School in Dhaka, Branksome Hall, Canada and the University of Toronto, St. George, Canada.

 Source: https://today.thefinancialexpress.com.bd/trade-market/dutch-bangla-bank-gets-new-chairman-1686591645