Bangladesh Bank Headquarters
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.
Move to launch e-KYC soon for reaching out to unbanked
A move is underway to introduce electronic KYC (know your client) soon as part of reaching out to the unbanked and excluded low income segment. The Bangladesh Financial Intelligence Unit (BFIU), Bangladesh Bank (BB) in collaboration with the United Nations Capital Development Fund (UNCDF) organised a workshop on the issue at a city hotel on Saturday.
Janata scams never end!
Janata Bank has been granting undue favour to yet another big borrower, allowing the company to open letters of credit (LC) one after another overstepping all sorts of banking rules, multiple Bangladesh Bank investigations have found. The borrower, Thermax, has been enjoying such privilege although the garment company has paid little of its previous dues, which now stands at a staggering Tk 1,230 crore.
Guidelines on mobile tower radiation not yet finalized
Bangladesh Telecommunication Regulatory Commission is yet to finalise the guidelines on limiting radiation from base transceiver stations of mobile phone operators even eight months after the draft was prepared. BTRC following an instruction from the High Court in March, 2017 initiated a move to frame a set of guidelines in this regard with a view to checking radiation of the mobile phone towers.
Fallen hair business changes lives in Sherpur
Processing and selling fallen women’s hair has become a booming business in Sherpur. This venture has already brought financial stability to more than 10,000 men and women in ten villages under three unions of this district. The unemployed, widowers, senior citizens and students belonging to impoverished families are making a good profit through this trade, and many of them have achieved financial independence.
Loan write-offs balloon in Q2
Loans written off by banks soared in the second quarter of 2018 as efforts to clean up balance sheets petered out. Between the months of April and June, the amount of loans written off by lenders stood at Tk 615 crore, an increase of 4.36 times from three months earlier.
Denim, drug ingredients, footwear to get priority
The government has finalised the draft export policy for the next three years through 2021, attaching highest priority to denim, active pharmaceutical ingredients (API) and footwear, officials said. Light engineering products such as motorcycle and battery, photovoltaic modules, and cashew nut (raw and processed), processed crab and toy are expected to flourish as they have been included in the "special development" sectors, they added.
Dhaka stocks see negative week amid polls-centric jitters
Dhaka stocks dropped in last week amid a fall in the share prices of two-thirds of the traded scrips as investors went for selling shares in cautious trading ahead of the national polls. DSEX, the key index of Dhaka Stock Exchange, lost 0.98 per cent, or 53.49 points, to close at 5,435.01 points on Thursday, the last trading session of the week, after gaining 92 points in the previous two weeks.
Shares in engineering sector: A growing lure for investors
Shares in the engineering sector of the premium bourse has become a growing attraction for investors as they are lured by good dividends, sound market capitalization, and the business expansion prospects of listed firms. Transactions in the engineering sector hit nearly 15% of total buy-sell at the Dhaka Stock Exchange between January and September, according DSE data.
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