Silatech and Brac Partner to Empower Youth

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.

IDLC Finance PLC has introduced a new payment option for its customers through a partnership with bKash. This service allows users to pay loan instalments, fees, and charges conveniently via the bKash app. Customers can settle payments for various services including loan instalments, document charges, statement fees, excise duty, late payment interest, and loan processing fees from home.

Investit Asset Management Limited has launched its first open-end mutual fund, "Investit Growth Fund," with an initial size of Tk25 crore. The fund, sponsored by Investit, is backed by a trust deed signed with Sandhani Life Insurance on September 2, 2024. BRAC Bank will act as the custodian. The fund aims to offer superior risk-adjusted returns by focusing on growth stocks, with Tk2.5 crore contributed by the sponsor and the rest from individual and institutional investors.

Shahjalal Islami Bank PLC has signed a remittance agreement with USA-based Placid Express to facilitate cross-border payments. The agreement was signed at the bank's Corporate Head Office, enabling Bangladeshi expatriates to send money safely and quickly to Bangladesh through Shahjalal Islami Bank. Placid Express is a leading provider of remittance services, serving millions of customers globally.

Australia and Canada have contributed Tk10 crore to flood response and rehabilitation in Bangladesh through a Strategic Partnership Arrangement (SPA) with BRAC. Australia provided Tk7 crore, and Canada contributed Tk3.10 crore. The funds will assist 11,000 households in flood-affected areas.

The Planning Commission is reassessing 13 projects, including four ongoing and nine new, to determine their necessity and cost-effectiveness. This review seeks to eliminate or modify projects that may be deemed non-essential or politically motivated. The budget for new projects is set at Tk21,441 crore, while the cost for ongoing projects, originally approved at Tk20,375 crore, has been proposed to rise to Tk31,207 crore.