Forex reserve hits record $44.02b Bangladesh’s foreign exchange reserve yesterday hit a new record of $44.02 billion thanks to robust remittance inflows and lower import payments, Bangladesh Bank data showed. The reserve, one of the major macroeconomic indicators of an economy, touched the $41-billion mark on October 28 and rose

Govt targets $150b remittance in 8th Five-Year Plan The government has set an ambitious target of earning $150 billion through remittance between July 2020 and June 2025, according to a document on the 8th Five-Year Plan. To reach the target, the expatriate’s welfare and employment ministry will roll out an

BB bats for sukuk investors The central bank has proposed the National Board of Revenue (NBR) to consider the profits earned by individual investors from their investment in the Islamic bond as tax-free income. The banking regulator has also suggested the NBR withdraw the 5 per cent source tax on

300 startups to get up to Tk 10cr each The government will provide up to Tk 10 crore to promising start-ups in Bangladesh, said State Minister for ICT Zunaid Ahmed Palak Yesterday. The government will give the fund to 300 startups, including 200 this year, in the form of equity

GDP growth target cut again The government has revised down the GDP growth projection to 6.1 per cent for 2020-21, the second revision this fiscal year, reflecting the devastating impacts of the second wave of the coronavirus pandemic on the battered economy. The government had initially targeted to achieve an