REHAB Urges 7% Reduction in Flat and Plot Registration Costs

The National Board of Revenue (NBR) has discontinued the provision allowing legalisation of undisclosed income on assets such as cash and securities with a 15 percent tax. However, the provision for whitening black money through real estate investments—flats, buildings, and land—remains intact, sparking criticism.

Mutual Trust Bank PLC (MTB) has entered into an agreement with Starpath Holdings Ltd to provide Payroll Banking Services to the latter's employees. The agreement was formalized in a ceremony held at MTB's Head Office in Dhaka on September 3, 2024. This partnership aims to streamline payroll management and offer efficient banking services to Starpath Holdings employees.

Asset Developments & Holdings Ltd, a Bangladeshi developer company, has donated Tk 20 lakh to aid flood-affected individuals in the eastern and southeastern regions of Bangladesh. The contribution, which includes a voluntary one-day salary from the company's officers, will be directed to the Chief Adviser's Relief and Welfare Fund.

Amid persistent inflation, many Bangladeshis are struggling to afford their house rent, leading some to consider downsizing their homes and cutting back on food consumption to manage the increased cost of living. According to a recent report by the Bangladesh Bureau of Statistics (BBS), the sublet tenant rate has nearly doubled from 2.4% in 2021 to 4.1%. In urban areas, the rate increased from 5.8% to 6.0%, while in rural areas, it rose from 1.85% to 3.48%. 

National Finance Limited (NFL) has signed a Memorandum of Understanding (MoU) with InnStar Limited, a high-end real estate and construction company in Bangladesh, to provide enhanced home loan services. Under this agreement, InnStar's home loan customers will receive preferential rates and services from NFL, reinforcing NFL's commitment to delivering superior service experiences to its customers and partners. The MoU was signed in Dhaka, with senior officials from both organizations present at the event, marking a significant partnership aimed at benefiting customers of the real estate company. This collaboration highlights NFL's dedication to strengthening its service offerings and expanding its reach within the real estate sector.

Bangladesh Bank has directed state-run Sonali Bank to classify Tk 106 crore in loans taken by Orion Infrastructure Ltd as defaulted, due to repeated repayment failures. The bank must reclassify these loans by August 22 and report to the Credit Information Bureau. Despite prior central bank approval to keep the loans unclassified under the condition of clearing overdue instalments by May 2024, Orion Infrastructure only repaid Tk 2 crore in cash and issued 15 cheques, yet to be cashed.