BB policy support for exporters extended

Bangladesh Bank yesterday extended the deadline for export proceeds repatriation in its bid to help entrepreneurs withstand the fallout of the coronavirus pandemic that continues to keep shipments in the negative. Export receipts declined 1.45 per cent year-on-year to $25.86 billion in the July-February period of the current fiscal year as the surge in coronavirus infections continues to ravage demand. The repayment period for the back-to-back letters of credit opened under suppliers’ and buyers’ credit was earlier extended to one year from six months. This means importers can pay back the loans within a year against imported goods. The support, set to expire this month, has been extended until June. Buyers’ credit refers to the finance for the payment of imports arranged by the importer (buyer) from a financial institution outside of the country. The suppliers’ credit is the credit extended for imports directly by the overseas supplier instead of a bank or financial institution. The BB allowed exporters to receive finance from the EDF to adjust their loans under the suppliers’ and buyers’ credits. The support will continue until June as well. The export sector has rebounded in recent days, but the spread of infections has again created a barrier to keeping the momentum up.

Source: https://www.thedailystar.net/business/news/bb-policy-support-exporters-extended-2060785

Tk 1,000 insurance policy for RMG workers proposed

Speakers at a programme in the city on Sunday proposed introducing an insurance policy for garment workers amounting to Tk1,000 a year under direct supervision of the government. A worker will pay Tk one a day, totaling Tk365 a year, the garment factory owner will provide the same amount and the government will give rest Tk270. The speakers made the proposal at a dialogue on policy framework for health insurance of garment workers. Health economics unit of the health ministry and Institute of Health Economics of Dhaka University jointly organised the event at BRAC Centre Inn in the city. The issue of health insurance of the workers should get priority while the transparency of the insurance companies should also be ensured.

Source: https://today.thefinancialexpress.com.bd/trade-market/tk-1000-insurance-policy-for-rmg-workers-proposed-1615739149

Meghna Bank signed agreement with Guardian Life Insurance

Meghna Bank Limited signed an agreement with Guardian Life Insurance Limited at the bank’s Head Office in the city recently. Sohail RK Hussain, Managing Director & CEO of Meghna Bank Limited, and Sheikh Rakibul Karim, Chief Executive Officer (CC) of Guardian Life Insurance, signed the agreement on behalf of their respective organisations. Under the agreement, Guardian Life will provide insurance coverage for Meghna Bank Platinum savers, Nirapod fixed deposit and Sreyoshi account holders.

Source: https://today.thefinancialexpress.com.bd/trade-market/meghna-bank-signed-agreement-with-guardian-life-insurance-1615739242