TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
Rate last updated: 02/01/2014 11:15:04 AM
Banks and MasterCard have urged the central bank to review its directive to route all card transactions from the New Year through the National Payment Switch of Bangladesh in a bid to mitigate risks of cyber attacks. Their concern stems from the NPSB’s lack of PCI-DSS certification, a global security standard for organisations that handle branded cards. The standard was created by the five major payment brands JCB, American Express, Discover, MasterCard and Visa to increase controls around cardholder data to reduce fraud. All major banks are in the process of getting PCI-DSS certification, while the largest issuers are already certified, according to the Association of Bankers Bangladesh, a platform for chief executives of scheduled banks. “The certified banks are not comfortable in routing their card transactions through a non PCI-DSS complaint network of NPSB,” said Anis A Khan, chairman of ABB, in a letter to the Bangladesh Bank governor last month. The central bank has asked all banks to get the PCI-DSS certification by December 2018. Furthermore, the NPSB, as of now, has the capacity to handle transactions of magnetic stripe cards and not the more secured and the latest EMV chip cards, which the BB has asked to be introduced by June next year. Accordingly, almost all card issuers in Bangladesh have started sending out EMV cards to their customers.
The Asian Development Bank (ADB) and the government of Bangladesh on signed agreements on Sunday for $260 million in loans to help sustain and increase infrastructure investments in Bangladesh as well as renewable energy interventions, reports UNB. The private sector can get up to 80 percent of funds for infrastructure projects as cheap loans from the ADB. The assistance forms the first tranche of $526 million multi-tranche ADB loans for the Third Public-Private Infrastructure Development Facility (PPIDF 3). The support consists of a $500 million market-based loan to finance medium and large-scale PPP infrastructure projects, and a $26 million concessional loan to finance small and medium-sized renewable energy and energy efficiency facilities, primarily in the rural areas of the country. The program will also be supported by a $750,000 technical assistance to further strengthen the capacity of the IDCOL. PPIDF 3 is a continuation of the previous efforts of ADB, Government of Bangladesh and Infrastructure Development Company Ltd (IDCOL) to address the country’s infrastructure deficiencies. The project builds on ADB’s support leading to the enactment of the PPP Act and institutional support to the PPP Authority.
Source:
http://today.thefinancialexpress.com.bd/first-page/govt-adb-ink-260m-deal-for-infrastructure-development-1511113765
http://www.thedailystar.net/business/260m-adb-fund-infrastructure-1493713
Bangladesh Bank has decided that the letter of credit authorization forms (LCAF) issued for the import of spare parts shall remain valid for remittances for 30 months after the month of issuance. In a circular issued on Sunday the central bank said authorized dealers of foreign exchange in Bangladesh may also open LCs on behalf of industrial units to import necessary spare parts of capital machineries for their own industrial use up to 360 days on usance basis. Earlier, according to the guidelines for foreign exchange transaction. CAFs issued for import of capital machineries and spares were valid for remittances for 18 months subsequent to the month of issuance.
Source: http://www.newagebd.net/article/28721/bb-eases-tenure-of-lcs-for-spare-parts
Bangladesh Telecommuni-cation Company Ltd (BTCL) has finally got back its deposit of Tk 35.44 crore from troubled Farmers Bank’s Gulshan corporate branch. BTCL has deposited the money with Sonali Bank’s Hotel Sheraton branch after getting refused twice by the Farmers Bank in honouring the cheque. Mallik Abdullah Al Mamun, manager of the Sheraton branch of Sonali Bank, confirmed The Daily Star today that they have received the deposit of BTCL. Earlier, on November 13, Farmers Bank issued a pay order against a matured deposit of BTCL worth Tk 35.44 crore.
Source: http://www.thedailystar.net/business/farmers-bank-pays-back-btcl-1493725
As much as 65 percent of Bangladeshi consumers are keen to adopt digital payment solutions, indicating increased awareness and acceptance of electronic forms of payments in the country. The study was carried out by YouGov, an international Internet based market research and data analytics firm based in London, on behalf of Visa, the global leader in digital payments technology. About 2,000 people in India, Bangladesh and Sri Lanka were surveyed in October this year. The survey was aimed at understanding the pulse of the Bangladeshi consumer and their views towards the transition to a digital economy. About 74 percent of the respondents said the key driver for adoption is the ease of transition into digital form factors of payments. Some 54 percent of the respondents said the main reason for moving away from cash is convenience, while 40 percent vouched for efficiency and speed of transaction offered by digital modes. Of the respondents for whom the adoption was tough, 69 percent find insufficient modes of payments as the key barrier, while 25 percent are worried about the security of their transactions.
Source:
http://www.thedailystar.net/business/bangladeshis-keen-digital-payment-study-1493722
https://thefinancialexpress.com.bd/economy/majority-bd-consumers-prefer-newer-digital-payment-systems-1511151131
http://www.newagebd.net/article/28722/65pc-of-bangladesh-consumers-to-embrace-new-form-of-digital-payments-survey
Adeeba Rahman has been appointed as the chief executive officer of Delta Life Insurance Company Ltd. Rahman served different international banks and life insurance companies in her career of 17 years, the insurer said in a statement yesterday. She has also been the member of the board of directors of Delta Life Insurance Company Ltd and Delta Brac Housing Finance Corporation Ltd. She is an associate of the Chartered Insurance Institute UK and Chartered Insurer. She did her MBA from Rochester, USA.
Source: http://www.thedailystar.net/business/new-ceo-delta-life-insurance-1493173
The Board of Directors of Padma Islami Life Insurance Limited in the 149th meeting of the company unanimously re-elected AFM Obaidur Rahman as the chairman of the board for 2017-18. AFM Obaidur Rahman is a sponsor director of the company and served in various capacities, including chairman of the Executive Committee, Finance & Investment Committee, Claim Committee, Audit Committee and as chairman of the board for 2016-17.
The National Board of Revenue may offer VAT honour cards to traders filing value-added tax returns regularly and depositing VAT to the government exchequer properly. The revenue board chairman Md Nojibur Rahman on Sunday said that they were considering providing VAT honour cards to businesses following huge response from income tax payers on Income Tax ID Card introduced at the tax fair. He made the comment at a partnership dialogue with the Economic Reporters Forum held at VAT Online Project office in Dhaka. He said that government high-ups including prime minister and finance minister praised the initiative of providing income tax ID card. The revenue board will arrange VAT fair during the VAT week to be observed in December and businesses may get the card during the period. Nojibur said that finance minister assured that income tax ID card would get an institutional shape with providing some facilities to the cardholders.
Source: http://www.newagebd.net/article/28719/vat-payers-to-get-nbr-honour-cards
Transparency International Bangladesh has placed a draft policy on gold trade to the government suggesting reduction of import duty, full opening of import in phases and bringing all gold traders under licence for ensuring discipline, transparency and accountability in the sector. It also suggested the government for offering legality of all gold and gold ornaments irrespective of their sources through declaring a general impunity. Traders will be able to make their gold legal within a timeframe by paying taxes and the government will confiscate the unregistered gold and ornaments after the deadline. The government will also encourage export of gold ornaments through giving incentives and duty rebate on import of gold for export oriented traders, the draft policy stated.
The possibility of tilting the trade balance with neighbouring India into Bangladesh’s favour is very slim, said Commerce Minister Tofail Ahmed yesterday in the parliament. “We are yet to reach that position,” he said, adding that Bangladesh would have to wait until 2041 to bring the trade balance in its favour. Bangladesh imports products worth nearly $6 billion from India, while its exports to the neighbouring country do not amount to more than $700 million. He dismissed suggestions that the trade gap is damaging for the country, while citing the case with the US to back his point: Bangladesh’s exports to the US stand at about $6 billion whereas its imports from the US amount to not even $1 billion, according to Ahmed.
Source: http://www.thedailystar.net/business/cutting-trade-gap-india-not-possible-now-1493719
China will continue to contribute and extend full support to Bangladesh in its effort to be a middle income country by 2021, said Chinese Foreign Minister Wang Yi. “We know that the current priority for Bangladesh is to speed up development to deliver a better life to its people and become a middle-income country by 2021,” Yi said at the Chinese embassy in Dhaka on Saturday. “China fully supports your efforts and will continue to make contribution.” He said China is grateful to its friends in Bangladesh for firmly upholding the One-China Policy and supporting peaceful unification of China. As China is a strategic cooperative partner for Bangladesh, he said China will continue to stand by Bangladeshi people on issues of mutual interests.
Source: http://www.thedailystar.net/business/china-support-bangladesh-earning-middle-income-status-1493728
Kaptai Lake and canal of Teesta Water Barrage are likely to house floating solar power plant as part of countrywide installation of such projects, officials said. If the Kaptai floating solar power plant project becomes successful, the government will implement more similar projects, the officials added. According to official sources, the Power Division under the Ministry of Power, Energy and Mineral Resources (MPEMR) has initiated the move to set up the floating solar plants with the financial support of the donor agencies. The private sector will also be involved in setting up such green energy plants, they said. Officials said the recent success of Japan, China, India, Germany, France, China and other countries has prompted the government to move for the project. Japan was the first country to install a floating solar power plant in 2006 in Chiba by a French firm while China is now the leader in setting up the largest floating solar power plant of 40 MW capacity in Huainan city of its Anhui province.
Source: https://thefinancialexpress.com.bd/economy/floating-solar-plant-on-kaptai-lake-likely-1511088499
Navana Group on Sunday launched 11th generation premium class ‘Corolla ALTIS’ in the city, claiming the vehicle has features like advanced safety measures, luxury and better performance. Navana Group senior vice chairman Saiful Islam inaugurated the brand new model in the country while Toyota Tsusho Corporation general manager Takeshi Sgimoto and Navana director JA Naser were present, among others. ‘ALTIS has inherited the durability, longevity and reliability with a unique look from its previous generations,’ said Naser at a press conference. The brand new model has been re-positioned with developed engine capacity, bigger size, high grade safety features including Vehicle Stability Control and 7 airbags.
Source:
http://www.newagebd.net/article/28724/navana-launches-corolla-altis
http://www.thedailystar.net/business/navana-launches-corolla-altis-1493734
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DSEX | 6,306.95 | ↑ 24.86 | ↑ 0.40% |
| DJIA | 23,358.24 | ↓ 100.12 | ↓ 0.43% |
| FTSE100 | 7,380.68 | ↓ 6.26 | ↓ 0.08% |
| Nikkei 225 | 22,261.10 | ↓ 135.7 | ↓ 0.61% |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI)* | $56.63 | ↑ 0.08 | ↑ 0.14% |
| Crude Oil (Brent)* | $62.60 | ↓ 0.12 | ↓ 0.14% |
| Gold Spot* | 1,291.70 | ↓ 0.72 | ↓ 0.06% |
| Exchange Rates | |
|---|---|
| USD 1 | BDT 81.06 |
| GBP 1 | BDT 107.11 |
| EUR 1 | BDT 95.57 |
| INR 1 | BDT 1.25 |
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