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Durga Puja: Nagad offers up to 20% discount on shopping
On the occasion of Durga Puja in 2022, mobile financial services provider Nagad has come up with a cashback or discount of up 20 percent in three categories at over 50 brand outlets.
They will enjoy cashback or discount on Nagad payments in the lifestyle, e-commerce, and restaurant categories, according to a media statement.
Customers may receive up to 20 percent instant cashback in the lifestyle category while shopping from brands such as Baby Shop, Top Ten, Rise, K Kraft, Anjans, Raw Nation, Rang Bangladesh, Bishwa Rang, Sailor, Cat's Eye Limited, and Sara Lifestyle.
Read Mastercard credit card bill payment: Nagad offers up to Tk 400 cashback
They will receive the cashback if they make the payment at selected merchant outlets using Nagad Merchant QR or Nagad Merchant Pay options.
Also, they can enjoy up to 50 percent discount on online shopping while making payment through SSL Gateway. The offer is available at online brands in various categories, including apparel, furniture, and electronics. It will be valid till October 5.
Nagad is also offering up to 20 percent instant cashback on payments at selected sweets and food stores.
Read Durga Puja fervour grips Bangladesh
Besides Durga Puja shopping, customers can enjoy this offer at many restaurants, including Well Food, Classic Sweets, Banglar Sweets, Cake Story, and Banker's Cafe and Restaurant. The cashback or discount offer on Nagad payments will be available till October 30.
MoU signed between BCCCI, CEAB
A Memorandum of Understanding (MoU) has been signed between Bangladesh China Chamber of Commerce & Industry (BCCCI) and the Chinese Enterprises Association in Bangladesh (CEAB) for forging closer working cooperation for enhancing trade and economic relations between the two countries.
The MoU was signed at Bangabandhu Bangladesh-China Friendship Exhibition Center, Purbachal, Dhaka on Saturday, said a media release on Sunday.
The MoU stipulated to remain valid initially for one year, was initialed by Al Mamun Mridha, acting General of BCCCI and Han Jingchao, Vice President of CEAB on behalf of their respective organizations.
State Minister for Planning Dr. Shamsul Alam, Chinese Ambassador to Bangladesh Li Jiming and Mahbub Uz Zaman, former Bangladesh Ambassador to China, BCCCI President Gazi Golum Murtoza CEAB President Ke Changlian were present in the MoU signing ceremony.
The areas of cooperation would include enhancing communication and cooperation between the two organizations, devote themselves to build the much expected Sonar Bangla (Golden Bangladesh) at the earliest time, and promote the Belt and Road Initiative (BRI) of China, development, to build a trade relationship that extends businesses and facilitating business in addition to promoting cultural exchange, friendship and commerce between each member enterprises, to form a Joint Task Force (JTF) and incorporate a joint forum to be able to exchange views and ideas, to address the existing and potential trade disputes occurred among enterprises, to carry out regular dialogue at committee member levels.
Read: BCCCI-ERF Award launched
Besides, exchanging views on Visa Processing, Bank Risk Management, Establishment of Chinese Bank in Bangladesh, Free Trade Zone, Legal Consulting, Dispute Settlement, Investor Promotion, Publicity, Member Management and other affairs etc.
The other key areas of cooperation include enhancing communication with the related Departments of Bangladesh Government, Chinese Embassy to Bangladesh, and other Government bodies, enhancing the interaction with other domestic and foreign Chambers of commerce/Associations/Organizations and Trade bodies, ensure the management and supervision of the members of the two organizations to understand, abide and be bound by the related laws and regulations, inviting each other to attend related forums, events and activities etc.
Islami Bank scoops up 'Best Bank in Bangladesh' award
Islami Bank Bangladesh has won the "Best Bank in Bangladesh" honour at the South Asian Business Excellence Awards 2022 presented by the South Asian Partnership Summit.
Planning Minister MA Mannan handed over the award to Mohammed Monirul Moula, managing director and chief executive officer of the bank, Thursday at a Dhaka hotel, according to a media statement.
Read: Mastercard credit card bill payment: Nagad offers up to Tk 400 cashback
Morshed Alam MP and Asha Jayamanne, founder and chair of the South Asian Partnership Summit and Business Excellence Awards, were also present.
Islami Bank is a joint venture public limited company engaged in commercial banking business based on Islamic shariah.
Established in 1983 as the first Islamic bank in southeast Asia, it is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.
Mastercard credit card bill payment: Nagad offers up to Tk 400 cashback
Mobile financial services provider Nagad has brought a cashback offer of up to Tk 400 on Mastercard credit card bill payment.
To avail themselves of the offer, the consumers will have to save their Bangladesh Bank-approved Mastercard credit cards in the Nagad app, according to a media statement.
Cardholders can pay their bills through the "Bill Pay" option of Nagad by clicking on the "Credit Card Bill" payment option. They will get 1.5 percent cashback on two cycles or up to a maximum of Tk 400.
Read 4 Mastercard, Visa cards fraud ring members held
The cashback will be disbursed in two cycles. The first cycle, which started on September 21, will continue till October 20.
A 1.5 percent or a maximum of Tk 200 cashback can be availed if one saves or pays the bill from a newly saved Mastercard credit card.
Later, the second cycle will run from October 21 to November 30, 2022. During this time, if a customer pays his bill from a Mastercard credit card, he will get 1.5 percent cashback or a maximum of Tk 200.
Read Nagad launches service for paying Mastercard Credit Card Bill
A consumer can get cashback only once from one bank card in a cycle. But they will get this benefit again in the new cycle.
Customers can avail of this facility from multiple banks' Mastercard cards in the same cycle. And in that case, the consumer will get a maximum cashback of Tk 200.
Nagad Chief Business Officer Sheikh Aminur Rahman said: "Paying Mastercard credit card bills through Nagad will be a hassle-free process for the consumers. We hope consumers will no longer have to wait in queues at the banks to pay their bills."
Read Cellfin launches Mastercard dual currency prepaid card
NOVOAIR wins ‘Best On Time Performance’ award
Leading private airline NOVOAIR has received the “Best On time performance of the Year- 2022” Gold award in domestic flight operation.
The airline has also won a Silver award in the “Best Domestic Airline” category.
The award-giving ceremony was held at a hotel in the capital on Friday. Mes-Bah-Ul Islam, Head of Marketing and Sales of NOVOAIR, received the awards from Mahbub Ali MP, State Minister of Civil Aviation and Tourism during the event.
The awards were given based on the online survey of regular passengers organized by Travel and Tourism publication “The Bangladesh Monitor”.
Speaking at the program, Mes-Bah-Ul said that this recognition will encourage NOVOAIR to provide quality service in the future.
“NOVOAIR is committed to provide the highest level of service since its beginning. NOVOAIR has earned passengers’ trust for safe air travel and on time flight operation. Our commitment to provide passenger satisfaction and superior service will continue at all levels of our operations,” the marketing head said.
NOVOAIR is currently operating daily flights from Dhaka to Chattogram, Cox's Bazar,Saidpur, Jashore, Sylhet, Rajshahi and Kolkata.
20% year-on-year growth: NBR collected record Tk 8,733cr VAT in Aug
National Board of Revenue (NBR) collected Tk 8,733 crore of revenue from value added tax (VAT) in August – showing a 20 percent year-on-year growth.
NBR’s collected VAT revenue in August is Tk 519 crore more than the target.
In this regard, NBR member (VAT) Moinul Khan said that government expenditure has decreased due to cost-cutting measures. Still, due to various initiatives and efforts, more VAT has been collected.
Read: Tax return document not needed for loans up to Tk 20 lakh: NBR
Generally, more VAT is collected from government purchases than from the private sector. This time there is an exception, he said.
In the first two months of the current financial year, collection of income tax, VAT, and customs amounts to Tk 40,270 crore, which is Tk 3,319 crore less than the target. In the current financial year, the total revenue target is Tk 3.70 lakh crore.
Read: Black money whitening got little response in FY 22: NBR data
According to NBR sources, in the first two months, Tk 10,373 crore have been collected in the income tax sector and Tk 14,863 crore in the customs sector.
In July-August, VAT from 30 small sectors amounted to Tk 4,869 crore. On the other hand, Tk 10,165 crore VAT has been collected from the private sector – retail and wholesale, rod-cement, hotels, and restaurants.
TCB to procure 1.65 cr litres of edible oil from local suppliers again
Cabinet Committee on Government Purchase approved some 10 proposals including procurement of edible oil by the TCB, and fertliser by BADC and BCIC.
Trading Corporation of Bangladesh (TCB) will again purchase a total of 1.65 crore (16.5 million) litres of edible oil from three local companies to run its open marketing sale (OMS) programme.
The state marketing agency TCB, a subordinate body of the Commerce Ministry, last week received a nod for procuring 2.25 crore (22.5 million) litres of soybean oil and 15,000 metric tons of lentils from local suppliers for the same purpose.
Cabinet Committee on Government Purchase (CCGP) in its meeting on Wednesday approved three new separate proposals, placed by the Commerce Ministry on behalf of TCB in this regard.
Finance Minister AHM Mustafa Kamal presided over the virtual meeting.
As per the decision of the CCGP meeting, the TCB will procure 55 lakh (5.5 million) litres of soybean oil from each of the three companies—Super Oil Refinery Ltd., City Edible Oil Ltd and Meghna Edible Oil Refinery of Dhaka. Each litre will cost Tk 185 and each of the companies will supply the edible oils through two-llitre bottles as per condition of the contract.
The entire consignment will cost Tk 305.25 crore as the TCB will pay Tk101.75 crore to each of the three companies.
The Cabinet body also approved three separate proposals to import a total of 90,000 metric tons of fertiliser from two countries in three lots under G2G deals.
Read: TCB to procure 2.25 litres of soybean oil, 15,000 mts of lentil for OMS
Of these, Bangladesh Agriculture Development Corporation (BADC) under the Ministry of Agriculture will import 30,000 MT of TSP fertiliser in a single lot from OCP, SA of Morocco while Bangladesh Chemical Industries Corporation (BCIC) will 90,000 MT of urea fertiliser Muntajat of Qatar and Kafco of Bangladesh in three separate lots.
The 30,000 MT fertiliser from Morocco will cost Tk 221.53 crore while each metric ton will cost $687.25 against the previous rate of $ 914.50.
Under the BCIC proposals, the Muntajat will supply a lot of 30,000 MT of bagged prilled urea fertiliser at a cost of Tk 206.59 crore. Each MT of fertiliser will cost724.50 against the previous rate of $563.33.
The Mutajat will supply another lot of 30,000 MT bulk granuller urea at Tk 209.10 crore. Each metric ton will cost $733.33 MT against a previous rate $ 630.83.
The Committee also approved a proposal of the National Curriculum and Textbook Board (NCTB) to award contracts for printing, binding and supplying of 11.20 lakh textbooks for the students from class I to VII for the 2023 session-year at Tk 489.25 crore.
The contracts will be awarded to 83 companies in 182 lots, said Abdul Barik, additional secretary of the Cabinet Division while briefing reporters.
A proposal of the Public Works Department under the Housing and Public Works Ministry received a nod to award a Tk 41.86 crore contract to Mazid Sons Constructions Ltd for external electrification works of 2 buildings at Rooppur Green City Housing Complex.
Meanwhile, the Cabinet Committee on Economic Affairs in principle approved two separate proposals to award contracts through direct purchase method.
Of these, Bangladesh Army will execute dredging and river bank protection works at Majhirchar of Dohar area and elevation of ground level of army installations, wave protection and arrow defense works at Army Establishment in Mithamoin Upazila of Kishorganj District.
BGMEA, GarmentTechBD to collaborate in improving supply chain management skills
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Academy of Garments Technology Bangladesh (GarmentTechBD) have signed a memorandum of understanding (MoU) to collaborate in providing training to mid-level management in the RMG industry to improve their knowledge and skills in supply chain management and other self-improvement fields.
Faruque Hassan, President of BGMEA, and Zhuang Lifeng, founding President of Overseas Chinese Association in Bangladesh (OCAIB) and Managing Director of Academy of Garments Technology Bangladesh inked the agreement on behalf of their respective organizations on Tuesday.
As per the understanding, BGMEA and GarmentTechBD will collaborate in conducting survey and study in garment factories to assess training needs and design training courses accordingly.
Read: Bangladesh to stay safe, sustainable apparel sourcing destination: BGMEA
GarmentTechBD will provide training to mid-level management employees in supply chain management and other skills development.
SM Mannan (Kochi), Senior Vice President of BGMEA; Md. Faizur Rahman, Secretary General of BGMEA; Abdus Salam, Adviser; Md. Panna Rahman, Project Leader; Jahangir Alam Joy, Head of HR, Admin and Compliance; and Mohammad Hasan Imam, Senior General Manager of GarmentTechBD were also present at the MoU signing ceremony held at BGMEA Complex.
Banks reschedule loans worth nearly Tk 6000 crore, waive Tk 2800 crore in interest in first 6 months of 2022
Despite reduced instalment facilities in term loans, banks have rescheduled loans worth Tk5960 crore and waived interest amounting to Tk2816 crore of interest waived in 6 months (January-June), revealed latest data of Bangladesh Bank (BB).
According to the BB data, state-owned banks rescheduled loans worth Tk 1,300 crore, while private banks Tk 4,150 crore. The remaining Tk 779 crore has been rescheduled by specialized banks.
The BB introduced a loan moratorium and reduced instalment facility during the Covid pandemic to avert huge defaults as the businesses were affected by the adverse impact of the Covid-19 pandemic.
Read: Default bank loans surge to record Tk 1.25 lakh crore in Bangladesh: BB
Despite those moves, the accumulated default loans rose to Tk1.25 lakh crore till June this year. The banks had to reschedule around Tk5960 crore, posing a challenge to the sector.
Bankers said many small and big businesses have been affected due to the pandemic. Many have halted regular loan repayments, raising the issue of the pandemic. Some banks are not able to collect the loan repayments due to irregularities and corruption.
As a result, the default loan volume is increasing, and now stands at around 9 per cent of the country’s total disbursement of loans.
WE summit in October, Dhaka to encourage women entrepreneurs
‘Women and E-commerce’ Platform (WE) will organize a women entrepreneurs’ business summit at the Bangabandhu International Conference Center (BICC) in October.
The organizers said the summit will be held on October 14 and 15 as the largest conference in the country, where the WE entrepreneurs can discuss problems and potentials of e-commerce business.
State Minister for Information and Communication Technology Junaid Ahmed Palak will preside over the inaugural ceremony. On this day, 30 guests will participate in the discussion.
Read: Bangladesh received over $1 billion remittance in Sep 1-15
Apart from this, there will be workshops by local and foreign guest speakers on various topics including easy and uninterrupted Internet access for entrepreneurs, adapting themselves with the logistics ecosystem and financing for business expansion, Facebook marketing, and photography. Eight sessions will be conducted online on these issues.
On the second day, there is a 'fashion show' on various products and services made by the WE entrepreneurs. Again, these entrepreneurs will host the event with cultural performances.
In the closing session, the best 20 women entrepreneurs will be awarded with the Joyee (winner) award. Among them, 10 will be WE members and the remaining 10 will be from other sectors.
WE President and E-CAB Joint General Secretary Nasima Akhter Nisha, “We have been organizing various workshops and training to improve the skills of local women entrepreneurs for a long time. At the same time, we are working to establish links with entrepreneurs on various public and private platforms.”