BB for AML, CFT practices with effective utilisation of Tech-Savvy innovations
bKash Limited in association with Bangladesh Financial Intelligence Unit (BFIU) and Bangladesh Bank on Saturday organised a day-long workshop on ‘Technological innovations and its impact on AML & CFT Practices in MFS’ for the senior officials of bKash to sensitise them on the issue. Head of Bangladesh Financial Intelligence Unit (BFIU) was present at the workshop as the Chief Guest while Joint Director of Bangladesh Financial Intelligence Unit presented the keynote paper. A total of 125 officials of Bangladesh Bank, BRAC Bank Limited, other banks and bKash participated at the workshop. Addressing the workshop, the Chief Guest urges the practitioners to ensure AML& CFT practices with effective utilisation of technological innovations.
Women Entrepreneurs for raising BB revolving fund credit limit
Women Entrepreneurs Network for Development Association on Saturday placed for consideration in the upcoming budget a set of eight proposals, including increase in credit limit of revolving fund of Bangladesh Bank for women entrepreneurs. The Association President raised the demands at a press conference for consideration of the government for the development women entrepreneurship in the country. WEND demanded that the government should ensure access to finance at lower interest rate and easier conditions for women entrepreneurs through raising the credit limit of revolving fund of Bangladesh Bank to Tk 1 crore. The other demands include reduction of tax and VAT rates, setting up of a training institute, establishment of support service centre at each division and allotment of plots to women entrepreneurs at economic zones with easier condition. Referring to Mastercard Index of Women Entrepreneurs data, Nadia said that 31.6 per cent of total entrepreneurs were women who had been relentlessly working to develop the economy of the country.
Singer’s profit rises by 23pc in 2018
Singer Bangladesh has announced that its net profit increased by 23 per cent to Tk 92 crore in 2018. The company’s operating profit marked a 40 per cent increase in the year with its turnover rising by 24 per cent to Tk 1,370 crore. The company also declared 30 per cent stock dividend for the shareholders for the year. Singer’s financial service offerings like Western Union, Bkash, Grameen airtime reloads and utility bill payments increased in value by 13 per cent in 2018 to Tk 130 crore. According to a press release, Singer continued to enjoy significant increases in unit sales, in particular computers by 70 per cent, panel televisions by 28 per cent, washing machines by 24 per cent, kitchen and small appliances by 20 per cent and refrigerators by 17 per cent – boosted by lower prices to customers and increased advertising spend.
Dutch Organisation to help boost Black Tiger Shrimp production
Bangladesh Shrimp and Fish Foundation (BSFF) and a Dutch research enterprise have signed a multi-year Memorandum of Understanding (MoU) in The Hague to transfer knowledge and innovations for boosting black tiger shrimp production in Bangladesh. President of BSFF and Managing Director of Hendrix Genetics Aquaculture signed the MoU. The principal destination of black tiger shrimp is the European market, where the Netherlands tops the list both in terms of value (US$ 89.82 million in 2017-18) and volume.
$185m WB loan for Renewable Energy
The World Bank has approved $185 million to add up to 310 Megawatt (MW) in renewable energy generation capacity in Bangladesh and mobilise private sector participation to meet the growing demand for electricity in the country. The Scaling-up Renewable Energy Project will increase installed capacity of renewables through piloting and expanding investments in key market segments. According to a press release, it will build the first 50 MW phase of a large scale solar panel energy park in Feni district, which will be implemented by the Electricity Generation Company of Bangladesh (EGCB).
Local Tech Company gaining foothold in Global Markets
Albeit largely unknown at home, many Bangladeshi technology companies have established their footprints in overseas markets, representing the country with their head holding high thanks to quality services. Dhaka-based Systems Solutions & Development Technologies Ltd (SSD-Tech) is one of them. Started out with lease finance automation 15 years ago, it has initially worked with two Fortune 500 companies – Petronas and British American Tobacco – in Malaysia and later with global telecom giants Telenor, Axiata, and Ooredoo as technology partner. Today, SSD-Tech provides solutions to many major telecom operators, financial institutions and large enterprises globally. It is a registered company in Bangladesh, Malaysia and Myanmar.
NRBs urge Govt to provide incentive for Remittance sending
Bangladeshi Expatriates on Saturday urged the government to introduce incentives to encourage remittance sending in the country. Speaking at World Conference Series of the non-resident Bangladeshis at Sonargoan hotel in Dhaka, Expatriates also called for creating congenial atmosphere for attracting more investment from the Expatriates. Planning minister MA Mannan, who was the chief guest at the conference, said the Government considering importance of migrant Bangladeshis had already asked its foreign missions to provide 24-hour-consular services to them. As per the Minister, that the government was also appealing to the Bangladeshi Expatriates with different professions to come to the country and contribute in respective fields. Praising the role of NRBs, the Planning Minister said the Government would work together with them closely in coming days.
Govt sets targets to reduce time, cost for int’l trade
The Government has set a number of targets to reduce time and cost related to international trade considering the status of Singapore in these fields as the benchmark. As per the Officials, time and cost for import and export in terms of border and documentary compliances will be lowered significantly through implementation of a set of measures to make a noticeable improvement in the trading across border, indicator of the Ease of Doing Business Index of the World Bank and the decision was taken at the second meeting of a committee on enhancing skills and capacity of port and customs, the two agencies involved in trading across border.
Uttara Motors participates in Indo-Bangla Automotive show
Uttara Motors Ltd participated in the Indo-Bangla Automotive Show ’19 with their most popular Suzuki Vehicle and Smart hybrid technology Ciaz & Ertiga which were recently launched. Uttara Motors Ltd, the leading and renowned automobile marketing company in Bangladesh, has been importing, assembling and marketing different types of vehicles for last four decades in with success.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 55.80||↓1.42||↓2.48%|
|Crude Oil (Brent)||$ 65.07||↓1.24||↓1.87%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.8787|
|GBP 1||BDT 110.7367|
|EUR 1||BDT 95.3281|
|INR 1||BDT 1.1829|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<