Summit, JERA Asia team up for $500m energy project

Summit Corporation and JERA Asia recently signed a memorandum of understanding to initiate an energy infrastructure project at Matarbari in Cox’s Bazar involving an investment of more than $500 million. The initial agreement was signed at the New Otani Hotel in Tokyo in presence of Prime Minister Sheikh Hasina, who is now in Japan on an official visit. The project will provide impetus to Bangladesh’s trade by developing various terminals for cargo and primary fuel in Matarbari. The project is expected to be functional within two years of signing an agreement between Summit, JERA Asia and the government of Bangladesh.

Source: https://www.thedailystar.net/business/news/summit-jera-asia-team-500m-energy-project-1750963

CSE revises Shariah Index

The Chittagong Stock Exchange (CSE) has revised its Shariah Index on the basis of performance of the CSE listed companies. The new index will be effective from June 11. The CSE Shariah Index is reviewed twice in a year. The new 17 companies which have been included are: Aramit Cement, Aziz Pipes, Bangladesh Building Systems, BBS Cables, Kay & Que, Navana CNG, Usmania Glass Sheet, Ambee Pharma, Indo-Bangla Pharmaceuticals, Silva Pharmaceuticals, Aman Cotton Fibrous, Kattali Textile, ML Dyeing, Matin Spinning Mills, Pacific Denims, Shasha Denims and VFS Thread Dyeing.

Source: https://thefinancialexpress.com.bd/stock/cse-revises-shariah-index-1559112692

Bank Asia gets new audit committee Chairman

Dilwar H Choudhury has recently been elected Chairman of the audit committee of the Board of Directors of Bank Asia. Mr. Choudhury is a recognised professional banker having 35 years’ work experience in eight different countries of Asia, Europe and Africa.

Source: https://www.thedailystar.net/business/banking/news/bank-asia-gets-new-audit-committee-chairman-1750927

A change maker in fish farming

Do you remember the TV campaign, Hakim Ali’s fish farm during the 80s which was broadcast on Bangladesh Television (BTV)? He was an inspiration for a lot of fish farmers in the country. During the past two decades there has been a revolution in fish farming in the country. Bangladesh has ranked third in the world in terms of inland fish production in 2018, according to a report by United Nation’s Food and Agriculture Organization (FAO). In FY 2018, Bangladesh earned Tk 4,500 crore by exporting around 69,000 metric tons of fish and fish products. As per the records of Bangladesh Economic Review, fisheries sector contributed 3.57 percent to the national GDP in FY 2018.

Source: https://www.thedailystar.net/country/news/change-maker-fish-farming-1751005

UCB gets new AMD

Syed Faridul Islam has recently joined United Commercial Bank (UCB) as Additional Managing Director. Prior to joining the UCB, he was Deputy Managing Director and Chief Risk Officer of Prime Bank. Mr. Islam started his banking career at Grindlays Bank in 1984 and also worked at BRAC Bank and Standard Chartered Bank.

Source: https://www.thedailystar.net/business/banking/news/ucb-gets-new-amd-1750918

Dhaka Bank inks deal with IPDC Finance

Dhaka Bank has signed an agreement recently for providing online cash management services to IPDC Finance Ltd. Under the agreement, Dhaka Bank Ltd will provide automated fund collection and payment service to the clients. Mentionable that Dhaka Bank as the first local bank has introduced automated fund collection service from other Banks’ accounts.

Source: https://thefinancialexpress.com.bd/trade/dhaka-bank-inks-deal-with-ipdc-finance-1558944288

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