Finance Minister AMA Muhith BBN file photo
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.
No plans to interfere with Islami Bank's affairs: Muhith
Finance Minister AMA Muhith yesterday said the government has no plans to meddle into the affairs of Islami Bank, which has plunged into a bout of infighting. “We will intervene if we get any complaint from the Islamic Development Bank,” Muhith told reporters at his secretariat office.
Minister hints at savings tools rate cut after budget
Finance Minister AMA Muhith said Sunday the interest rate of national savings certificates will be revised by next month. "Yes, the present rate of savings tools is an impediment to lowering the interest rate on bank loan. I will look into it after budget announcement," he told a delegation of Dhaka Chamber of Commerce and Industry (DCCI) at his secretariat office.
Govt may raise tax-free income limit for individual taxpayers
The government may raise the tax-free income ceiling for individual taxpayers in the coming national budget for fiscal year 2017-18 following demands from different quarters including taxpayers and trade bodies for adjusting the threshold with annual inflation and living conditions of mass people.
The tax-free threshold may be set at Tk 2.75 lakh increasing from the current Tk 2.50 lakh, officials of the finance ministry said.
Bangladesh’s banks allowed receiving repayment cheques
Bangladesh’s commercial banks are now allowed to receive repayment cheques against disbursed loans from their clients by maintaining three procedures. The central bank of Bangladesh has revised its prudential guidelines for consumer financing and small-enterprise financing by adding a new regulation related to procedures of loan repayment.
Turnover on Dhaka Stock Exchange dips 5b-mark
Turnover on Dhaka Stock Exchange (DSE) dipped below the 5.0 billion-mark after six-month on Sunday as investors were reluctant to take fresh exposure in the market ahead of budget announcement and holy month of Ramadan. Turnover fell 28 percent to BDT 4.58 billion, compared to the previous session.
Bepza eyes $4.5b investment from Mirsarai economic zone
Bangladesh Export Processing Zones Authority (Bepza) will set up an economic zone at Mirsarai of Chittagong with an eye to attracting $4.5 billion in investment. Bepza and Bangladesh Economic Zones Authority (Beza) signed a memorandum of understanding on the planned zone at the Prime Minister's Office in Dhaka on May 18.
VAT, supplementary duty target to be 33% higher in FY2017
The government is going to set an ambitious VAT and supplementary duty collection target for the upcoming fiscal year, which is 33.16% higher than the current year’s revised target. This is feared to put additional financial pressure on mid- and low-income groups.
BSEC eases capital base for market maker
The Bangladesh Securities and Exchange Commission has eased a number of conditions including the minimum capital requirement for becoming a market maker for listed securities in the finalised market maker rules. In the finalised rules, the minimum capital requirement for becoming a market maker has been lowered to Tk 10 crore from Tk 50 crore proposed in the draft rules.
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