City Bank Signs Agreement with ADN Telecom

Bangladesh’s interim government expects mobile network operators (MNOs) to soon reduce mobile internet prices following significant wholesale price cuts across the internet value chain. According to Faiz Ahmad Taiyeb, the chief adviser's special assistant, the government has already lowered costs at the International Terrestrial Cable, International Internet Gateway, and National Telecommunication Transmission Network levels.

In the wake of recent governance changes in Bangladesh, foreign correspondent banks are easing their previously tightened credit lines for Bangladeshi banks. This shift follows prompt repayment of overdue import bills—over $2.5 billion—which had previously caused international banks to restrict credit access.

The government of Bangladesh has unveiled an ambitious plan to modernize its telecom sector, aiming to eliminate internet shutdowns, lower internet costs, and improve service quality through comprehensive reforms and deregulation. Key measures include abolishing restrictive licensing, enforcing performance-based regulations, and making all metropolitan telecom fibre networks underground within three years.

Internet subscribers in Bangladesh will now receive 10 Mbps internet speed for Tk 500, up from the previous 5 Mbps, as announced by the Internet Service Providers Association of Bangladesh (ISPAB). This change aligns with the Bangladesh Telecommunication Regulatory Commission's (BTRC) "One Country, One Rate" policy.

Banglalink has failed to pay Tk42.58 crore in VAT to BTRC for revenue sharing from April 2012 to June 2013. Although Banglalink claims the VAT constitutes double taxation, citing NBR’s special order issued on August 12, 2013, both BTRC and the court have ruled that the VAT was applicable before that order and must be paid.

In the October–December quarter of 2024, banks in Bangladesh recovered Tk 9,791 crore in non-performing loans (NPLs), marking a 23% increase from Tk 7,960 crore in the same period of 2023. Despite this nominal rise, the NPL recovery ratio—which indicates the percentage of recovered loans relative to total outstanding defaulted loans—declined to 3.44% from 5.12% in the corresponding quarter of the previous year.