C & A Textiles to Join Forces with Alif Industries

DBL Group, a prominent garment exporter, typically ships apparel worth about $50 million monthly. However, due to recent violence surrounding a quota reform movement and a nationwide curfew, their shipments will plummet by at least 30% this month. The group's production facilities, which include spinning, dyeing, and garment factories, were forcibly closed during the unrest, resulting in significant financial setbacks. 

Prime Bank PLC has signed a Memorandum of Understanding (MoU) with Syngenta Bangladesh Limited to offer mortgage-free overdraft loans to Syngenta’s distributors. The agreement enables distributors to access up to BDT 1 crore in financing.

"Islami Bank" has teamed up with "Nagad" to provide "Nagad" with remittance services.  From now Nagad customers can connect with Islami Bank to send remittance over 200 countries, with cash out at a limited cost. At Islam Bank Tower in Dhaka on Monday, Miftah Uddin, Deputy Managing Director of Islami Bank, and Maruful Islam Jhalak, Executive Director of Nagad, signed the agreement in the presence of Mohammed Monirul Moula, Managing Director of Islami Bank, and Tanvir A. Mishuk, Executive Chairman & CEO of Nagad Limited.

Tamijuddin Textile Mills is currently investigated by the Bangladesh Securities and Exchange Commission (BSEC) for reportedly taking more than Tk 330 million in stock dividends that were not publicly distributed. Shareholders who were not entitled to bonus shares are believed to have received them from the corporation.

Eastern Bank (EBL) has signed a Memorandum of Understanding (MoU) with the Bangladesh Indenting Agents Association (BIAA) to provide priority banking services to BIAA members. The agreement, signed recently in Dhaka, ensures that BIAA members will receive enhanced banking facilities from EBL.

Axentec PLC has partnered with N Mohammad Group to strengthen its digital initiatives, according to a recent agreement. As a subsidiary of Robi Axiata Limited, Axentec will enhance cloud capabilities and accelerate N Mohammad Group's digital operations, particularly in the plastics industry.