AHM Mustafa Kamal

Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.

Five state banks to get listed by Oct
Five state-run banks are set to get listed on the stock market by September as part of the government’s move to prop up the ailing bourse that has arguably dragged investor confidence down to rock bottom. A quarter of the shares of Sonali, Agrani, Janata, Rupali and Bangladesh Development Bank (BDBL) would be offloaded on the stock market, said Finance Minister AHM Mustafa Kamal.

Another commercial bank gets BB approval

Bangladesh Bank (BB) has given its seal of approval to the Bengal Commercial Bank Ltd, asking the lender to boost paid-up capital to BDT 5.0 billion within two years. The board of directors of the central bank took the decision at its meeting held in Dhaka on Sunday, with BB governor Fazle Kabir in the chair.

Mill-gate rice price hike could weigh on retail mkt

Prices of rice increased further at the mill-gates, strengthening fear about its spillover effect on the retail market over the next few days, traders say. Some found a link between the announcement of 15 per cent cash incentives on rice exports and the recent price spike, while others saw it as a normal market trend.

Government allows Bangladesh Bank to form fund for stocks

The finance ministry has endorsed a Bangladesh Bank proposal to form a revolving refinance fund exclusively for the ailing capital market. The central bank received the approval letter of the ministry on February 6, BB officials said on Sunday.

Bangladesh’s stocks nose-dive amid panic sell-offs
Bangladesh’s stocks witnessed a sharp decline on Sunday as worried investors continued their sell-offs on selective large-cap issues. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 64.20 points or 1.44 percent to settle at 4,388.

BB issues show cause notice to Janata Bank

Bangladesh Bank (BB) has issued a show cause notice to Janata Bank for rescheduling loans amounting to Tk1,973.63 crore of eight companies, including seven AnonTex Group associated companies, in violation of its instructions. The central bank letter was issued to the Janata Bank managing director and chief executive officer on February 4 asking him to explain the violation within seven working days, confirmed the Bangladesh Bank sources.

Robi brings tech to enhance 4G services

Fourth generation (4G) voice and data services are set to be enhanced through Robi’s adoption of Voice over Long Term Evolution (VoLTE) this week, ushering the end of 3G networks within a couple of years. The VoLTE is a standard for high-speed wireless communication for mobile phones and data terminals, including internet of things devices and wearables.

MFS cos asked to ensure ACC gets real-time transaction info

The Bangladesh Bank on Sunday asked the mobile financial service (MFS) providers to ensure that the Anti-Corruption Commission get real-time information related to transactions and subscribers of MFSs. In a letter, the central bank directed the chief executive officers and managing directors of MFS providers, including Bkash, Rocket and Nagad, to assist the ACC in obtaining the required information related to transactions and subscribers of mobile banking services.