On the 16th of January 2018, three diamond firms approached Punjab National Bank requesting LOUs. (Letter of Understanding is a form of bank guarantee under which its customers can raise money from any other Indian bank’s foreign branch in the form of a short-term credit). Punjab National Bank demanded 100%
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GOVT EASES GUIDELINES FOR QUICK DISBURSEMENT OF DEV FUNDS
The government has amended the guidelines for disbursement and utilisation of budgetary allocations for the development projects aiming to speed up implementation of Annual Development Programme (ADB). Project directors of development projects will now be able to use funds for their respective development projects in line with the budgetary allocations from
BIA FOR WITHDRAWAL OF 15PC VAT ON INSURANCE AGENT COMMISSION
Bangladesh Insurance Association (BIA) has demanded withdrawal of 15 per cent VAT on the insurance agent commission in the budget for fiscal year 2018-19 (FY19) for the expansion of insurance industry. “There is 15 per cent VAT at source on agent commission that has been affecting the insurance industry . .
IS IT TAXING TIME FOR ONLINE BUSINESS?
Future Information & Communication Technology in line with the Budget 2018-2019.
Finance Minister Abul Maal Abdul Muhith rolled out a Tk 4,64,573 crore national budget for fiscal year 2018-19 on Jun 7, 2018. In the context of LDC graduation after 2027 he mentioned and cited the export areas under title A Journey Towards Prosperous Future - Sectoral Strategies, Action Plans and Resource
HOW CRYPTOCURRENCIES ARE USED IN RUSSIA WORLD CUP?
Every four years the global sporting community feasts on a festival of football at the World Cup, as the world’s most popular sport takes centre stage. Football, in its current form, was birthed around 1863 in England, but its origins stem from numerous games played throughout history, according to FIFA. Over
THE BUDGET MAINTAINING THE STATUS-QUO ONLY
Banks show exemplary performance in disbursing agricultural loan
Specialized, state-owned and private commercial banks, including foreign commercial banks operating in the country, have already disbursed 88 per cent agriculture and non-farm rural credit in past 10 months from July to April 2017-18 financial year. The schedule banks have disbursed a total of Tk 17,952.89 crore till April while the
AN OPTIMAL FINANCIAL INCLUSION – AGENT BANKING
Agent Banking means providing limited scale banking and financial services to the underserved population. Agent Banking is a part of financial inclusion for both rural and urban unbanked people to ensure the access to formal finance. Bank engaged agents under a valid agency agreement, rather than a teller/ cashier. He is
FINTECH WELCOMES NEW BASIS TEAM
Syed Almas Kabir, CEO of MetroNet Bangladesh Limited has been elected President of the Bangladesh Association of Software and Information Services (BASIS). The latest BASIS election was held on April 2. Farhana A Rahman, Chairperson and CEO, UY Systems Limited, was elected senior vice-president, Shoeb Ahmed Masud, Director, Business Automation Limited, and
