Resolve complaints seriously
Bangladesh Bank yesterday asked banks to seriously look into and resolve complaints of clients over their financial services so that none faces further hassles.
The central bank has recently observed that some banks have not looked into client complaints, according to a BB notice. In addition, some lenders have not taken proper action to resolve the complaints, which is why the central bank has ordered laying the utmost importance on it. Banks have been asked to accept complaints by providing an official receipt copy signed by the official concerned, as per the latest BB circular. “The new instruction has been issued to protect clients’ interests and corporate governance in the banking sector,” it said. As per the central bank rule, every bank has to form a complaint cell led by the managing director to resolve the issues. Banks have to resolve a complaint within 10 days. And no bank is allowed to spend more than 45 days to resolve a complaint under any circumstance.
Most FDI offers come from China: Bida
Most of foreign direct investment (FDI) proposals had come from China, said Md Sirazul Islam, executive chairman of the Bangladesh Investment Development Authority (Bida). He said this while speaking at the signing ceremony of a Memorandum of Understanding (MoU) between Bida and the Bangladesh China Chamber of Commerce and Industry (BCCCI) in the capital on Monday. Under the agreement, the two organisations will work together to increase foreign investment, especially Chinese investment. Sirazul said in the 2021-22 fiscal year, China was in the first position in the registration for foreign direct investment (FDI) in Bida. China registered for an investment of $770 million. Korea has the second-highest at $161 million. “We can expect a lot more big investments from China,” said Md Sirajul Islam. Recently, a delegation from China expressed interest to invest in the health sector, he further said. He, however, said private investment proposals from China at present are not satisfactory. “Officially, China is one of the biggest partners in the development of Bangladesh. China has been working directly on many of our government projects,” he said. Sirazul said, “We need to tell foreigners that the investment environment in Bangladesh has improved over the last 10 years. If foreigners do not know, they will not invest.” He said the foreign direct investment saw 13% growth in Bangladesh. On the other hand, year-on-year FDI increased 43% worldwide, he said. He said, “Our target is to bring the FDI amount to 3% of our GDP in 2025. It is now below 1%.” Al Mamun Mridha, joint secretary-general of the BCCCI, said more than 700 of their members were working to increase Chinese investment in the country at present. “We want to hold an investment summit in China with the help of Bida,” he said.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 876.05||↓ 2.79 %|
|FTSE100||$ 7,205.81||↓ 111.71||↓ 1.53 %|
|Nikkei 225||$ 26,515.66||↓ 471.78||↓ 1.75%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 120.84||↓ 0.09 ||↓ 0.07 % |
|Crude Oil (Brent)||$ 122.15||↓ 0.12||↓ 0.10%|
|Gold Spot||$ 1,825.88||↑ 6.62||↑ 0.36%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 92.0000|
|GBP 1||BDT 113.3256|
|EUR 1||BDT 96.7748|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<