Bangladesh forex slips Bangladesh’s foreign exchange reserves edged down to USD 28.8 billion at the end of May from a record high of USD 29.1 billion in the previous month. But it was up 21.0% from a year earlier, the central bank said Wednesday. The drop was due to a

Spread in bank interest rates widens further The existing spread between interest rates in the country’s banking sector widened further as the commercial banks cut interests on public deposits far deeper than on lending, bankers said. Such imbalance in rate adjustments, according to economists, is meant for keeping banks’ profit

NBFI allowed to invest 50.0% of capital in special purpose funds Non-bank financial institutions will be allowed to invest up to 50% of their paid-up capital in non-listed special purpose funds like alternative investment fund, said a Bangladesh Bank circular issued on Wednesday The aggregate investment of any NBFI in

Bonanza for RMG makers: govt cuts export, corporate tax The government has cut source tax on export earnings for readymade garment and other export-oriented sectors to 0.60 per cent from 1 per cent amid apparel makers’ hectic lobbying for the reduction. Corporate tax rate for apparel makers and exporters has

Bonanza for RMG makers: govt cuts export, corporate tax The government has cut source tax on export earnings for readymade garment and other export-oriented sectors to 0.60 per cent from 1 per cent amid apparel makers’ hectic lobbying for the reduction. Corporate tax rate for apparel makers and exporters has