Stock Market Remains Flat

BRAC Bank PLC has partnered with Pran-RFL Group to provide advanced cash management and supply chain financing solutions, enhancing financial operations and working capital optimization. The agreement was signed by Tareq Refat Ullah Khan, BRAC Bank's deputy managing director, and Uzma Chowdhury, Pran-RFL's finance director, at BRAC Bank's Gulshan office.

The Infrastructure Development Company (Idcol), a state-owned financial institution in Bangladesh, paid a Tk 50 crore cash dividend to the government for FY 2023. Md Shahriar Kader Siddiky, secretary of the Economic Relations Division and Idcol chairman, handed over the cheque to Finance Adviser Salehuddin Ahmed, who commended Idcol's contributions to infrastructure development and renewable energy.

Aziz Pipes has been out of production since May due to a working capital shortage and accumulated losses of Tk 322.48 million by June 2024. The company's liabilities now exceed its assets, with negative equity of Tk 199.4 million in FY24.

The Bangladesh Bank (BB) approved a Tk3,000-crore loan for the Investment Corporation of Bangladesh (ICB) to stabilize the capital market and repay high-cost deposits. The loan, set at a 10% interest rate, differs from ICB’s request for 4%.

Al-Arafah Islami Bank PLC signed an agreement with BHT Industries Limited to provide Payroll Privilege Services (APPS) for the company’s employees. The ceremony was attended by key figures including Farman R Chowdhury, Managing Director and CEO of Al-Arafah Islami Bank, and Md Mustafizur Rahman, Chairman and Managing Director of BHT Industries.

Sinha Securities' Chairman, Parveen Akhter Khanam, will sell 2 lakh shares of ACME Laboratories from her 65.15 lakh shareholding to reduce a deficit in the brokerage firm's consolidated customer account (CCA). The shares, valued at over Tk1.47 crore, will be sold under the Bangladesh Securities and Exchange Commission's (BSEC) directive.