Bangladesh Bank Deputy Governors Face Resignation Demand

DBH Finance PLC was recently honored with the ICSB National Corporate Governance Excellence Award in the financial institutions category. The award was presented at a ceremony held at a city hotel, where Nasimul Baten, Managing Director & CEO of DBH Finance, accepted the accolade from Dr. Salehuddin Ahmed, Adviser to the Ministries of Finance, Commerce, and Science and Technology.

BRAC Bank achieved a record net deposit growth of Tk 2,000 crore in September 2024, the highest single-month deposit growth by any branch network in Bangladesh. The milestone was celebrated at the bank's head office in Dhaka. Selim RF Hussain, the bank's CEO, attributed the growth to branch expansion, strategic repositioning, enhanced customer services, and digital banking solutions.

Denmark-based Bestseller highlighted four major human rights risks in its Bangladesh supply chain, including wage issues and excessive overtime, in its September report. Amid political unrest, the company maintained communication with suppliers, ensuring worker safety and supporting factories by adjusting delivery timelines and avoiding wage cuts. Bestseller emphasized managing excessive working hours, protecting vulnerable groups, and providing safe transportation for workers. While some factories were disrupted by protests, most continued operations. Industry leaders acknowledged overtime challenges but noted efforts to reduce disruptions and maintain stability.

In August, Bangladeshi migrant workers sent home Tk 1,101.8 crore in remittances via mobile financial service (MFS) providers, marking the highest monthly receipts in five years and a 113% increase from Tk 515.4 crore in August 2023.

NCC Bank has introduced four new financial products targeting cottage, micro, small, and medium enterprise (CMSME) entrepreneurs, offering credit facilities ranging from Tk 1 lakh to Tk 10 crore. The products include NCC Commercial Building Loan, NCC Commercial Vehicle Loan, NCC Supply Chain Finance, and NCC Business Account.

The government has reinstated Grameen Bank's tax exemption, effective immediately, for the next five years until December 2029. The National Board of Revenue (NBR) announced the decision, requiring the bank to continue filing annual income tax returns. Established by Nobel Laureate Prof.