Govt to fulfill vacancies of top officials at BSEC
The government will fulfill the vacancies of the top officials at the securities regulator timely to avoid disruptions in the operations of regulatory affairs. A top official of the financial institutions division (FID) of the ministry of finance (MoF) said this following the discussions regarding the vacancies created in the posts of two commissioners at the securities regulator. The tenure of the chairman of the Bangladesh Securities and Exchange Commission (BSEC) also will end on May 14. After his departure, there will be only one commissioner at the BSEC. The BSEC office, stock exchanges and trading on bourses remained closed since March 26 following the public holiday announced to flatten the infection curve of Covid-19. The commission of the securities regulator is comprised of its chairman and four commissioners and the quorum is fulfilled at the commissioner meeting if at least the chairman and two commissioners remain present. The securities regulator became unable to hold any commission meeting since May 4 due to quorum crisis created following the expiry of the tenure of the BSEC commissioner professor Helal Uddin Nizami. Before facing quorum crisis, the incumbent commission held its last meeting on April 29.
50 lakh poor households to get cash aid through MFS from May 14
The government’s move to provide cash assistance to 50 lakh poor families hit by the coronavirus pandemic is finally taking off, with the four major mobile financial service providers set to deliver it from May 14. The disbursement will be kicked off by Prime Minister Sheikh Hasina, who will hand over Tk 2,500 each to ten families, said Md. Shah Kamal, senior secretary of the ministry of disaster management and relief. The MFS operators will have to send the Tk 2,500 with the cash-out charge to each family and for disbursement purpose, the government will bear only Tk 15 (0.6 per cent) for each disbursement, said Tanvir A Mishuk, managing director of Nagad, a joint venture of the postal division and a private firm that will disburse the highest amount of Tk 425 crore. The other operators will also get Tk 15 from the government but since their cash-out charge is higher they will have to send that full cash-out value to the beneficiary families, he added. Market leader bKash will disburse Tk 375 crore, Rocket Tk 250 crore and SureCash Tk 200 crore. The database contains the National Identity (NID) number of recipients, their mobile phone numbers, address, the person’s age and the number of family members such that all duplications and other irregularities can be avoided, according to officials.
DSE, CSE donate Tk 12.50m to PM’s relief fund
The Dhaka Stock Exchange and the Chittagong Stock Exchange have donated Tk 10 million and Tk 2.50 million respectively to the Prime Minister’s Relief and Welfare Fund to help fight the Covid-19 pandemic. The country’s prime bourse donated the fund to the Prime Minister’s Relief and Welfare Fund so that the government could expedite its initiatives to prevent the spread of coronavirus, said a press release on Sunday. The DSE chairman Md Eunusur Rahman handed over the cheque to Ahmad Kaikaus, the principal secretary to the Prime Minister at the Prime Minister’s Office on Sunday. On the other hand, the CSE management and staff contributed one month basic salary worth Tk 2.50 million to the Prime Minister’s Relief and Welfare Fund in the same venue on the day, according to a CSE press release. While handing over the cheque, the CSE Chairman Asif Ibrahim mentioned to the Prime Minister that CSE has taken responsibility of 4,000 destitute families in Chittagong amid ongoing pandemic. The CSE chairman requested the Prime Minister to consider the CSE plea for a stimulus package of Tk 10.50 billion for the benefit of retail investors and brokerage houses.
Max Group donates Tk 30m to PM’s fund
Max Group, one of the largest engineering companies of Bangladesh, has donated an amount of Taka 30 million to Prime Minister’s Relief and Welfare Fund to combat the Coronavirus outbreak in the country. Furthermore, employees of all stages of the company have a contribution in this humanitarian initiative.
Jamuna Bank gets new chairman
Fazlur Rahman has recently been elected as the chairman of Jamuna Bank. The election took place at a meeting of the board of directors of the private commercial bank, according to a press release. A renowned entrepreneur, Rahman is the chairman and managing director of City Group, which he founded in 1972. It is now a leading group of companies in Bangladesh, employing more than 15,000 people. Rahman had served the bank as its chairman from 2006 to 2007.
BARI gets new DG
Noted agriculture scientist Dr. Md Nazirul Islam has joined as Director General (DG) of Bangladesh Agricultural Research Institute (BARI). He officially took over his new charges by handing over his joining letter to Secretary of the ministry of agriculture Md. Nasiruzzaman on Sunday. Nazirul Islam joined the BARI as a scientific officer on January 11, 1989.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 455.43||↑ 1.91 %|
|FTSE100||5935.98||↑ 82.22||↑ 1.40 %|
|Nikkei 225||20454.46||↑ 275.37||↑ 1.36 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 24.45||↓ 0.29||↓ 1.17 %|
|Crude Oil (Brent)||$ 30.61||↓ 0.36||↓ 1.16 %|
|Gold Spot||$ 1705.42||↑ 2.72||↑ 0.16 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.2628|
|GBP 1||BDT 103.228|
|EUR 1||BDT 90.1997|
|INR 1||BDT 1.11039|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<