Bangladesh Bank Ousts S Alam Group from FSIBL Board

Bangladesh Services Limited, owner of InterContinental Dhaka, has faced nine consecutive years of losses, with Tk78 crore lost in FY24 and accumulated losses reaching Tk700 crore. The company, listed since 1984, has not paid dividends since FY14.

BRAC Bank has reached a significant milestone by achieving a net deposit growth of Tk 10,000 crore within the first ten months of 2024, covering the period from January to October. Despite the challenging economic landscape, the bank's strong market presence and customer trust have driven this impressive achievement.

bKash, Bangladesh’s leading mobile financial service provider, received the "Mastercard Excellence Award" in the digital business category for the 4th consecutive year. The award, presented on November 22 during the 6th edition of the awards ceremony at Radisson Blu Dhaka Water Garden, recognized bKash’s role in advancing financial inclusion and fostering a digital economy.

Dhaka Bank PLC signed a memorandum of understanding (MoU) with Dhaka South City Corporation (DSCC) on November 22 to streamline the collection of holding tax and trade licence fees. Under the agreement, the bank will integrate with DSCC servers via API connectivity, enabling residents to pay taxes and fees at designated branches, sub-branches, and five newly established collection booths at Nagar Bhaban and zonal offices during the first phase.

The interim government of Bangladesh has extended a 20% cash incentive to juice and drink exports made from locally sourced fruit pulp, aiming to promote agro-processing industries and rural entrepreneurship. Bangladesh Bank issued a circular on November 21, highlighting that firms collaborating with exporters to source local fruit pulp are also eligible.

Investors in Bangladesh face challenges as brokerage houses with deficits in consolidated customer accounts (CCAs) have their trading halted by the Bangladesh Securities and Exchange Commission (BSEC). With a Tk 28 crore deficit, PFI Securities is among those affected, leaving investors unable to trade or transfer funds.