Abdul Hai Sarker re-elected chairman of Dhaka Bank

Mr. Abdul Hai Sarker has recently been re-elected as the Chairman of the board of directors of Dhaka Bank Limited. He is the founder of Purbani Group. Mr. Sarker is the Founder Chairman of Dhaka Bank Limited, Former Vice Chairman of Bangladesh Association of Banks (BAB), Former President of Bangladesh Textile Mills Association (BTMA), and a former Director of FBCCI. Now, Mr. Sarker is the Chairman of the Board of Trustees of Independent University Bangladesh (IUB). He accomplished his Post Graduation Degree (M. Com) from the University of Dhaka in 1970.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/abdul-hai-sarker-re-elected-chairman-of-dhaka-bank-1656432031

BB allows relaxed loan facility for NBFI clients

Borrowers of non-bank financial institutions (NBFIs) can now avail a flexible loan repayment facility similar to that being enjoyed by bank customers up till December this year, according to a Bangladesh Bank notice issued yesterday. As per the notice, borrowers of NBFIs who are struggling to repay their loans can avail the relaxed repayment facility considering the recent resurgence of the coronavirus pandemic and flooding in northern and north-eastern parts of the country.As such, borrowers will be able to avoid falling into the default loan category by repaying half of the loan payable for the April-December period. Clients will have to pay half of the payable amount every quarter during the period mentioned by the central bank.The relaxed facility will be provided to borrowers who are facing a crisis to pay back their instalments due to the pandemic.On the other hand, the NBFI-customer relationship can also be leveraged to extend the support.

Source: https://www.thedailystar.net/business/economy/news/bb-allows-relaxed-loan-facility-nbfi-clients-3059186

Oil prices rebound

Oil prices bounced and Wall Street stocks declined Monday, reversing the most recent trends as markets eye the end of a bruising second quarter. After positive sessions for several leading European and Asian bourses, Wall Street stocks were in the red most of the day, and finished modestly lower.The broad-based S&P 500, which has fallen about 14 per cent since the end of the first quarter, shed 0.3 per cent on Monday.

Source: https://www.thedailystar.net/business/global-economy/news/oil-prices-rebound-3059101

17 economic zones getting ready for south-west

The government is setting up 17 economic zones in southwestern districts to bring about an industrial revolution in the largely non-industrialised region as it looks to accelerate economic growth of Bangladesh. The zones are part of the governmental goal of setting up 100 economic zones across the country, with a view to creating one crore jobs and exporting $40 billion worth of goods and services from the enclaves.The government has decided to set up an economic zone on 888 acres of land in the sadar upazila under Faridpur. Moreover, a feasibility study has already been carried out for another zone on 200 acres of land in Kotalipara of Gopalganj.

Source: https://www.thedailystar.net/business/economy/news/17-economic-zones-getting-ready-south-west-3059196