$2b to be sought from central bank for fuel import

Nasrul Hamid, state minister for the Ministry of Power, Energy, and Mineral Resources, and Salman F Rahman, prime minister’s private industry and investment adviser, have assured businesses that they will pursue the Bangladesh Bank for $2 billion to import fuel, according to sources present at a meeting between the government policymakers and business leaders. They will also request the central bank to raise the Bangladesh Petroleum Corporation’s LC limit to import more furnace oil.To this end, Nasrul Hamid and Salman F Rahman will meet with Bangladesh Bank Governor Abdur RoufTalukder next week.At the meeting, the state minister told Salman F Rahman, “If we cannot support businesses at this time of crisis, what will we do with $36 billion in our reserves? You keep $2 billion aside for them [industries] and let me handle the whole situation.” If $1 billion is spent on fuel imports for industries, it will pay back $4 billion in the form of export earnings, meeting sources quoted Nasrul Hamid as saying.

Source: https://www.tbsnews.net/bangladesh/energy/2b-be-sought-central-bank-fuel-import-520754

Bangladesh an attractive business hub, says US envoy

Terming Bangladesh attractive as a trade destination, US Ambassador in Dhaka Peter D Haas said the more US companies explore Bangladesh market, the better the possibility of investment from them.US investors are very keen on sectors like digital economy, renewable energy, infrastructure, agricultural technology and service sector here, he cited.He said this at a press conference, hosted by the American Chamber of Commerce in Bangladesh (AmCham) at a city hotel on Tuesday, on the upcoming three-day ‘US Trade Show-2022’.With AmCham president Syed Ershad Ahmed in the chair, AmCham vice-president Syed Mohammad Kamal, executive director Md Shahadat Hossen and member Mirza ShajibRaihan also addressed the event.The 28th trade show, co-sponsored by the AmCham and the US Embassy, will be held at Pan Pacific Sonargaon Hotel from October 27-29.The envoy said the trade show is quite significant as both Bangladesh and the USA are celebrating 50 years of their diplomatic relationship.

Source: https://thefinancialexpress.com.bd/economy/bangladesh-an-attractive-business-hub-says-us-envoy-1666757501

CSR spending of banks, other FIs double in H1

Islamic banking veteran Salim Anwar has joined Padma Bank Limited as its head of the Islamic banking division.Fourth generation Padma Bank Limited is going to launch a Shariah-based ‘Padma Bank Islami Banking’ division. Initiatives have already been taken to open Islamic banking windows in some branches, reports UNB citing a press release. Before joining Padma Bank, Salim Anwar was the Head of the Internal Control and Compliance Wing at Islami Bank Bangladesh Limited.He started his banking career at Islami Bank Bangladesh Ltd as a probationary officer in 1992. During his 30 years career, Salim Anwar served in Commercial Investment Department, Investment Policy and Planning Department and Musharaka Department in the Head Office and various branches.Besides, he served as Head of Branch in different branches for 16 years including two corporate branches.

Source: https://thefinancialexpress.com.bd/trade/csr-spending-of-banks-other-fis-double-in-h1-1666837497