Islami Bank Bangladesh Limited (IBBL) has donated 2 lakh blankets to the Prime Minister's Relief and Welfare Fund for the welfare of cold stricken people.
On behalf of the Prime Minister, Dr Ahmad Kaikaus, Principal Secretary to Prime Minister received the blanket from Md Nazmul Hassan, Chairman of Islami Bank on Wednesday at the Prime Minister’s office.
Prime Minister Sheikh Hasina attended the programme virtually while Md Nazrul Islam Mazumder, Chairman of Bangladesh Association of Banks was present.
Also read: IBBL Dhaka zone holds online conference
Foreign Direct Investment (FDI) flows to developing economies decreased by 16 percent, less than expected, Unctad said on Tuesday.
The FDI flows were 28% lower in Africa, 25 percent in Latin America and the Caribbean and 12 percent in Asia, mainly due to resilient investment in China, according to United Nations Conference on Trade and Development (Unctad).
In the first half of 2020, developing Asia accounted for more than half of global FDI.
FDI flows to transition economies were down 81 percent due to a strong decline in the Russian Federation.
Despite the 2020 drop, FDI remains the most important source of external finance for developing countries.
Other sources, including remittances and official development assistance – relatively more important for LDCs – are also falling.
The overall decline can add to external payments problems in developing countries.
Global foreign direct investment (FDI) flows in the first half of 2020 were down 49 percent compared to 2019 as lockdowns around the world slowed existing investment projects and the prospects of a deep recession led multinational enterprises (MNEs) to re-assess new projects.
The decline cut across all major forms of FDI. New greenfield investment project announcements dropped by 37 percent, cross-border mergers and acquisitions (M&As) fell by 15 percent and newly announced cross-border project finance deals, an important source of investment in infrastructure, declined by 25 percent.
Developed economies saw the biggest fall, with FDI reaching an estimated $98 billion in 2020 H1 – a decline of 75 percent compared to 2019.
The trend was exacerbated by sharply negative inflows in European economies with significant conduit flows.
FDI flows to North America fell by 56 percent to $68 billion.
Cross-border M&A values reached $319 billion in the first three quarters of 2020.
The 21 percent decline in developed countries, which account for about 80% of global transactions, was checked by the continuation of M&A activity in digital industries.
The value of greenfield investment project announcements – an indicator of future FDI trends – was $358 billion in the first eight months of 2020.
Developing economies saw a much bigger fall (-49%) than developed economies (-17%), reflecting their more limited capacity to roll out economic support packages.
The number of announced cross-border project finance deals declined by 25 percent, with the biggest drops in Q3, suggesting that the slide is still accelerating.
Prospects for the full year remain in line with earlier projections of a 30-40 percent decrease.
The rate of decline in developed economies is likely to flatten as some investment activity appears to be picking up in Q3. Flows to developing economies are expected to stabilize, with East Asia showing signs of an impending recovery.
The outlook remains highly uncertain, depending on the duration of the health crisis and on the effectiveness of policy interventions to mitigate the economic effects of the pandemic.
Geopolitical risks also continue to add to the uncertainty.
Aditya Puri, popularly known as the (Amitabh) Bachchan of Banking in India, is hanging up his boots after being at the helm of the country's largest private sector bank for a good 25 years.
The Chattogram South Zone of Islami Bank Bangladesh Limited (IBBL) organised a webinar on ‘Compliance of Sharia in Banking Sector’ on Saturday.
Mohammed Nasir Uddin FCMA, Director of the bank addressed the programme as the chief guest where Md Mahbub ul Alam, Managing Director and CEO of the bank was special guest.
Professor Dr Mohammad Gias Uddin Talukder, Chairman of IBBL Sharia Supervisory Committee addressed the webinar as the chief discussant.
Dr Md Ruhul Amin Rabbani, member of IBBL Sharia Supervisory Committee also discussed in the webinar.
Mohammad Yakub Ali, Head of Chattogram South Zone presided over the programme where Md Shamsuddoha, Executive Vice President was present.
Chairman of South Korea's technological giant Samsung Electronics, Lee Kun-hee, who transformed Samsung into a world-leading innovator and industrial powerhouse from a local business, died. He was 78.
Lee died in Seoul on Sunday, according to a statement released by Samsung, reports Xinhua.
It said Lee's family, including his son Lee Jae-yong, who is Samsung's vice chairman, were by his side when he passed away.
"Our deepest sympathies are with his family, relatives and those nearest. His legacy will be everlasting," said the statement.
Lee had suffered a heart attack and had been hospitalized and bedridden since 2014, when Lee Jae-yong began to take the helm and become the de facto leader of the multinational gaint.
Lee, the son of Samsung Group's founder Lee Byung-chul, was born in Uiryeong County in South Gyeongsang Province of South Korea on Jan. 9, 1942.
He graduated from Japan's Waseda University in 1965 and finished his MBA program at George Washington University in the United States in 1966.
Lee has successfully transformed Samsung into a global electronics Titan and one of the world's largest producers of smartphones, televisions and memory chips.