NBR’s Q1 revenue collection grows 16pc

The country’s internal tax revenue collection grew by nearly 16 per cent (year-on-year) in the first quarter (Q1) of the current fiscal year despite posting a shortfall of Tk 40.74 billion against the target. The National Board of Revenue (NBR) collected Tk 671.04 billion in tax revenue during the period of July-September against its target of Tk 711.78 billion, according to provisional data released Sunday. Two wings of the NBR — VAT and Customs — achieved more than 16 per cent growth in revenue collection compared to the corresponding period of last year. On the other hand, the income tax wing of the NBR achieved 13.82 per cent growth in the July-September period of the current FY. However, all three wings of the NBR are lagging behind their targets in Q1. Economists said fluctuation in exchange rates in conversion from US dollar to Bangladesh taka and the domestic inflation played a significant role in spurring the tax revenue collection in Q1.

Source: https://thefinancialexpress.com.bd/economy/nbrs-q1-revenue-collection-grows-16pc-1666581257

Prime Bank to issue Tk 600cr bond

Prime Bank Ltd has decided to issue an unsecured, non-convertible and redeemable subordinated bond of Tk 600 crore for seven years to enhance its capital base. 

The bond issuance is subject to regulatory approvals, said the private commercial lender in a filing on the Dhaka Stock Exchange yesterday. 

Source: https://www.thedailystar.net/business/economy/news/prime-bank-issue-tk-600cr-bond-3150391

Evaly to resume operation with ‘Dhonnobad Utshob’ on Oct 28

Evaly is set to resume operation with a ‘Dhonnobad Utshob’ (‘Thank You Festival’) to express gratitude to millions of customers and merchants across Bangladesh. The platform will start the campaign on October 28 at 10:00pm, said a press release from the company, reports UNB. Popular brands like Walton, Jamuna, Artisan, O’code, Viomi, Samsung, iPhone, One Plus, and Vivo will participate in the Evaly campaign. For purchases from the secured platform, customers will have three options: pick and pay, cash on delivery and cash before delivery. Customers will also get a ‘star’ for each shipment from Evaly under the customer loyalty program. The loyalty points can be used for future shopping with the platform. Regarding the campaign, Evaly co-founder Shamima Nasrin said the company strongly believes that it will be able to repay past debts through resuming operations.

Source: https://thefinancialexpress.com.bd/trade/evaly-to-resume-operation-with-dhonnobad-utshob-on-oct-28-1666526758