Urea Import Faces Uncertainty Due to LC Issues

Md Shahidul Islam has been promoted to Deputy Managing Director of Jamuna Bank PLC, effective April 28, 2025. With over 30 years in banking, he oversees key areas like corporate, SME, retail, Islamic banking, and more. Previously with Prime Bank and Islami Bank, he holds a degree from the University of Dhaka and has undergone specialized training in multiple countries.

Mohammed Rashedul Amin has been promoted to Deputy Managing Director (DMD) of Southeast Bank. Previously the Senior Executive Vice President and Agrabad branch head, he joined the bank in 2019 after serving at IFIC Bank, DBBL, and One Bank.

Islami Bank removed its Managing Director, Muhammad Monirul Moula, over loan irregularities revealed in an external audit. Approved by Bangladesh Bank on May 20, the decision follows Moula’s earlier three-month leave. He, along with others, faces embezzlement charges linked to Tk 109.2 crore.

Eastern Bank PLC declared a 35% dividend (17.5% in cash) for 2024 at its 33rd virtual AGM, chaired by Md Showkat Ali Chowdhury. Shareholders praised the bank's strong financial performance, notably its Islamic banking launch, amid economic challenges.

Bangladesh Bank has allowed banks to remit fees for overseas correspondence courses without prior approval. This applies to one course at a time and is intended to support professional skill development. Students can pay foreign institutions for courses like CFA or ACCA, with remittances subject to applicable tax deductions.

A recent Bangladesh Bank study reveals that farmers are the primary risk-takers in the agricultural value chain, especially for essential items like rice, potatoes, onions, eggs, and broiler chicken. Conducted across 14 districts, the study attributes price increases mainly to supply shortfalls caused by seasonal factors, reduced cultivation areas, floods, and pest attacks. Unlike intermediaries who secure fixed margins, farmers face fluctuating profits or losses depending on market conditions.