Southeast Bank Gets New Chairman After 20 Years

Bangladesh Bank has aligned its recruitment policy with a recent government ordinance, raising the maximum age limit for entering jobs at non-bank financial institutions (NBFIs) to 32. Previously, the age limit for such positions was 30. This change comes after the Ministry of Law, Justice, and Parliamentary Affairs issued an ordinance extending the age limit for direct recruitment in government jobs and related institutions, including autonomous, semi-autonomous bodies, and public corporations, to 32 years.

Bangladesh's financial sector faced a challenging year with soaring inflation, liquidity shortages, panic withdrawals, exchange-rate volatility, and rising non-performing loans (NPLs). Leveraged and insider lending, along with control by embattled oligarchs, led to significant bank money siphoning.

The 16th edition of the Bangladesh Brand Forum's Best Brand Awards celebrated the accomplishments of 44 brands at a gala event on December 26, 2024, at the Intercontinental Dhaka. A total of 60 awards were given, including the "Overall Top 15 Brands of Bangladesh" and the "Most Emerging Brand."

Guardian Life Insurance Limited and Reliance Insurance Limited have formed a strategic partnership to provide comprehensive life and general insurance services in Bangladesh. CEOs Sheikh Rakibul Karim of Guardian Life and Md Khaled Mamun of Reliance Insurance recently signed a Memorandum of Understanding (MoU).

The Bangladesh Securities and Exchange Commission (BSEC) has extended the deadline for brokerage firms to install uniform, un-editable back-office software from approved vendors until April 2025. The new deadline follows a request from the Dhaka Stock Exchange Brokers Association and allows brokers an additional four months to comply. Failure to install the software by May 1, 2025, will result in the suspension of operations, punitive actions, and the loss of dividends, IPO quotas, and branch expansion privileges.

In October 2024, Bangladesh's mobile financial services (MFS) platforms, such as bKash and Nagad, recorded Tk1,102.22 crore in inward remittances, a 95.22% year-on-year increase, according to Bangladesh Bank data. This rise highlights the growing reliance on MFS for remittances, supported by convenience, improved customer confidence in formal channels, competitive exchange rates, and affordable cash-out charges. Transaction volume surged 8.80% month-on-month, with total MFS transactions reaching Tk1,54,857.32 crore.