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Be vigilant to prevent financial crimes: BB governor
Bangladesh Bank Governor Fazle Kabir Sunday urged the officials of the Bangladesh Financial Intelligence Unit (BFIU) and banks to be vigilant to prevent financial crimes.
Financial criminals become active during crises, he added.
Read: Provide emergency banking services in flood-hit areas: BB
Fazle Kabir was addressing the BFIU seminar "20 years of anti-money laundering and anti-terrorism financing in Bangladesh" in the capital Saturday.
BFIU chief Md Masud Biswas, Sheikh Mohammad Salim Ullah, secretary at the Financial Institutions Division, and Selim RF Hossain, chairman of Association of Bankers Bangladesh, were present.
FY23 budget to elevate local elevator manufacturing: Experts
Stakeholders and experts have called the proposed budget for the fiscal year (FY) 2022-23, an industry-friendly one, which will "give the local elevator manufacturing sector a boost."
Finance Minister AHM Mustafa Kamal in the FY23 budget discouraged the import elevators, raising import duties to protect the local entrepreneurs' investment in the sector.
Mohammad Shahadat Hossain Siddiqui, professor of economics at Dhaka University, said: "Encouraging domestic industry is a prerequisite for sustaining the continuous progress of any country. The local infant industry will be at stake if it needs to compete with others from the beginning."
In Bangladesh, there is a huge demand for elevators. According to the National Board of Revenue, Bangladesh imported elevators worth Tk707 crore amid Covid in 2020, and the volume jumped to Tk885 crore in 2021.
Demand for elevators is increasing sharply across the country with the growth of the country's housing industry.
Read: Food production, price control should get prioritised in budget: Dr. Debapriya
If Bangladesh's elevator market remains import-dependent, prices will have a serious effect on people's purchasing power.
But the increase in domestic production will bring the prices down. And the repair of elevators, especially in old houses or buildings, will be easier.
Economist Dr Kazi Khaliquzzaman said: "In the proposed budget, "The import of products, which are manufactured or can be produced in the country, have been discouraged. So, local entrepreneurs and industries will benefit from it."
Grass-route level poultry farmers seeks government’s interference to stop commercial sale of ready broilers, layers by hatchery owners
Grass-route level poultry farm operators have sought the government’s interference to stop commercial sale of ready broiler and layer chicken by hatchery owners.
They said that several hundred thousand small poultry farmers who mainly operate their business at grass-route level, cannot sustain because of the commercial selling of ready broiler and layer chicken by the big poultry owners.
They also placed 8-point demands to resolve their prevailing crisis in business from a discussion meeting at the National Press Club on Sunday.
Kazi Mostafa Kamal, secretary general of the Bangladesh Grass-Route Level Poultry Farmers Unity Council, placed the demands at a discussion meeting titled: ``Miseries of Grass-Route Level Poultry Farmers and Way Out”.
The function, with the organisation’s president Mizan Bashar in the chair, was also addressed by Trustee of the Gana Sastha Kendro Dr Zafrullah Chowdhury, Bangladesh Kalayan Party Chairman Maj (Gen (retd) Muhammad Ibrahim and journalist Mostafa Kamal Majumder.
Read: Provide emergency banking services in flood-hit areas: BB
The 8-point demands of the Bangladesh Grass-Route Level Poultry Farmers Unity Council include ensuring proper monitoring of small chicks by the Department Livestock Services, billing of electricity consumption at industrial rate, fixing the price of small chicks at Tk 30-32 as per the government’s notified order of 14th March 2010.
The other demands are free-supply of medicine and vaccines to the farmers to prevent the chickens from different diseases, providing soft and collateral-free loans to small-scale poultry farmers bringing them under a cooperative, and building shops at specific places in bazaars at every upazila to facilitate selling of the products by small farmers.
Kazi Kamal alleged that the small-scale farmers at grass-route level have been experiencing an anarchy-like situation for the last 12 years as they have to buy at Tk 90-100 per small chick from a few big hatchery operators.
The hatchery operators do not abide by the government’s order to sell the chicks at Tk 30-32, he added, saying that the price hike of poultry feeds also put them into big trouble.
“As a result, many small-scale poultry farmers left the business incurring huge financial loss,” he said.
Read: Air Astra prepares for IOSA ahead of commercial launch
Kazi Kamal said the big hatcheries are doing monopoly business in selling small chicks at their arbitrary rates violating the government’s order.
Dr Zafrullah Chowdhury urged the government to protect the small-scale poultry operators for the sake of the interest of the country.
Provide emergency banking services in flood-hit areas: BB
Bangladesh Bank (BB) has instructed banks to continue services in the flood-hit areas through their sub-branches, agent bank outlets or branches nearby in the dry places.
The central bank’s Department of Off-Site Supervision on Sunday issued a notification to all scheduled banks to continue services for flood-affected clients through alternative ways.
Also read: BB starts releasing new notes on June 29
The BB notification stated that several areas including Sylhet, Sunamganj, Rangpur and Kurigram have been flooded. Many banks could not open branches due to flooding.
In such a situation, the central bank has instructed the banks to provide emergency banking services from the nearest branches unaffected by floods.
After the flood situation improves, the central bank said, banks will have to take steps to resume services to the customers from the relevant branches and sub-branches immediately.
Also read:Banks must focus on digitalization, cyber security: BB Governor
Meanwhile, heavy rains and landslides from Meghalaya in India have submerged about 90 per cent of the area in Sylhet and Sunamganj. In these two districts, there has been a catastrophic flood. Hundreds of thousands of people are being forced to leave their homes seeking shelters.
Businesses reject plan to impose 8pm closing time on shops
Businessmen on Saturday urged the government to postpone the decision of the closure of shops, shopping malls, markets, and kitchen markets after 8 pm till the Eid-ul-Adha.They came up with this call at the first meeting of the FBCCI Standing Committee on Local Garments (Avhantarin Poshak) at FBCCI.They said that Businesses were deprived of the full-scale festival centric sale due to the 2-year long Covid-19 pandemic and incurred huge losses.They said businesses had managed to remain on their feet the help of timely incentive packages, and now are working relentlessly to revive the economy.They apprehended that if the sales close after 8 pm, the process of revival will stumble.Read: FBCCI preparing a master plan to face post-LDC challenges
FBCCI senior Vice-President Mostofa Azad Chowdhury Babu in response to the demands of businessmen, called for postponing the government decision till Eid-ul-Adha.“The office goers prefer to visit malls after evening; therefore, the instruction will discourage them to shop, which would put the millions of small and medium entrepreneurs into further loss,” the FBCCI Senior Vice President said.The committee members also called for initiatives to set up a garment village for the manufacturers who produce clothing for the domestic market.They said that garment manufacturers have to procure raw materials from different places and re-package and sell them in the wholesale market which accumulates a huge cost.A dedicated garment village will ease the business process and reduce the cost and also facilitate buyers to afford clothing at a cheaper price.Read: Good governance major challenge to implement budget: FBCCI
Acquiescing with the demands of the businessmen, Vice President M A Momen assured that FBCCI will take initiatives to discuss with the concerned ministry in this regard.“Businesses will face additional challenges after LDC graduation in 2026. Hence, the local sector needs to be stronger,’ he added.While chairing the meeting, Committee chairman and president of Bangladesh Avhantarin Poshak Prostutkarak Malik Samity Md. Alauddin Manik said that they meet the huge domestic demand and thus help reduce import cost. The sector would further flourish if it gets bank loans.Director-in-Charge of the Committee Abu Motaleb complains that the tax-officials harass businessmen in the name of collecting revenue. He calls for the end of the harassment.FBCCI Director Shafiqul Islam Vorosha and Hafez Harun also spoke at the meeting.Co-Chairmen Hazi M H Mostofa, Md. Abul Khayer, Md. Sarwar Uddin Khan, Hazi Md. Tipu Sultan, Md. Kefayetullah Twinkle and Junaed Ibna Ali were also present.
Technical, madrasa students to get stipends through Nagad
The Technical and Madrasah Education Division, Nagad, and the Directorate Of Posts recently signed an agreement to distribute stipends to technical and madrasa students.
The main objective of the initiative is to disburse the stipend among the students in a timely and transparent manner.
Read: Nagad to partner LankaBangla in furthering financial inclusion
Students can visit any Nagad Uddokta point and withdraw their stipend without any charge.
Md Shafayet Alam, executive director of Nagad said, "We have been successfully disbursing allowances and stipends with transparency in association with the government's various types of financial inclusion efforts."
"We have now become involved in the disbursement of stipends to technical and madrasa students."
Read Nagad to partner LankaBangla in furthering financial inclusion
e-CAB election set for Saturday
The election of e-Commerce Association of Bangladesh (e-CAB) will be held on Saturday to pick its executive committee for the 2022-24 period.
A total of 795 members have the voting rights in the election to be held from 10am to 4pm at Sayeedana Community Centre in the city’s Dhanmondi area.
In the election, 31 candidates are vying for nine posts of the e-CAB executive committee.
On March 28, the election schedule was announced and 36 aspirants submitted nomination papers, but five candidates withdrew their candidature.
The three-member electoral board, headed by its chairman and FBCCI vice president Amin Helali, will conduct the polls.
The current president of e-CAB is Shomi Kaiser, while general secretary Muhammad Abdul Wahed Tomal.
Also read: e-CAB formed 7-member body to observe business of Evaly
Air Astra prepares for IOSA ahead of commercial launch
Private carrier Air Astra has started preparations to undergo the International Air Transport Association's (IATA) operational safety audit (IOSA) before starting its operations.
The airline started a five-day IOSA airline auditor training at its training centre in Dhaka Monday.
Imran Asif, CEO and accountable manager), Captain Farhat Jamil, head of flight operations and training, Ghazi Mahmud Iqbal, head of engineering, Md Shafiqul Alam, head of quality assurance, Zafor Uzzaman, head of ground operations and DGR, Captain Khalid Shams, chief of safety, and Hasib ul Alam, head of airline security, attended the training.
Also Read: TEI GET to promote renewable energy in Bangladesh
The IOSA programme is an internationally recognised and accepted evaluation system designed to assess the operational management and control systems of an airline.
All IATA members are IOSA registered and must remain registered to maintain their membership.
Air Astra's plan to launch operations by Q1 2022 was affected by the aircraft leasing market uncertainties amid the pandemic.
Read Flights at Sylhet airport cancelled for 3 days from Friday
The airline has secured 3x ATR 72-600 aircraft on lease and is on track to begin commercial flight operations across the domestic network in Bangladesh in September 2022.
French-built ATR 72-600 aircraft are the most advanced turboprop aircraft in production today, according to a media statement.
TEI GET to promote renewable energy in Bangladesh
Team Europe Initiative on Green Energy Transition (TEI GET) will promote renewable energy in Bangladesh in achieving its national goal.
The TEI GET expressed such interest while a delegation of the organisation made a field visit to 3 renewable energy projects in Dhamrai area of Dhaka on Tuesday.
According to a release, representatives off Germany and the European Union, as TEI GET Co-Chairs, along with high-level representatives of Denmark, Sweden, AFD, GIZ, KFW, Switzerland were present.
Read Akij sets up rooftop solar plant with Huawei's technology
Additional Secretary of Renewable Energy, Power Division of Bangladesh Md Mostafa Kamal,, Additional Secretary and Member Admin, Sustainable and Renewable Energy Development Authority (SREDA) Md Golam Mostofa were also present.
The field visit, organized together with IDCOL, started with a guided tour of the operational rooftop solar with Net Metering system at Snowtex Outerwear Ltd. at Dhamrai, Savar, following a discussion meeting with TEI GET, IDCOL, Snowtex Management and Government counterparts.
Later, the group visited an IDCOL project, co-financed by KFW, of Solar Irrigation Pumps, and a domestic biogas plant in Dhamrai.
Read: 25% electricity from renewables by 2030: SREDA proposes, GOB disposes?
During the visit’s discussion, Johannes Schneider, Head of Development Cooperation, Germany, highlighted EU Member States’ common interest to support Bangladesh in achieving their national goals and international commitments in the field of renewable energy through the Team Europe Initiative
“This Initiative will allow us to better coordinate and consolidate our engagement in the Green Energy Sector and strengthen our relationship with the Bangladesh Government and the private sector,” he said.
Maurizio Cian, Head of Cooperation, EU Delegation, highlighted the transformational approach of Team Europe said that the Team Europe’s common values and expertise in Renewable Energy are key drivers of this initiative.
Read Bangladesh seeks IRENA’s support to explore renewable energy potential
“Team Europe provides the framework to deliver European support to the Government of Bangladesh, with the ambition of a transformational impact in accelerating a green and just energy transition,” he added.
Mostafa Kamal, Additional Secretary of Power Division, said that Bangladesh is committed to increase renewable energy contribution in the national power generation mix, to promote appropriate, efficient and environment friendly technology for the development of renewable energy.
“We are looking forward to implementing our strategies in collaboration with Team Europe,” he said.
Read: Renewable energy could be Bangladesh’s best option post Covid-19
TEI GET, launched in Dhaka in June 2021, aims at supporting Bangladesh to build a power system that leads to maximum coverage of the country`s energy demand through renewable energy while reducing GHG emissions, energy consumption and demand through energy efficiency.
TEI GET, co-chaired by Germany and the EU includes EU Member States Denmark, France, Italy, Spain, Sweden, The Netherlands, the European Investment Bank (EIB) and like-minded countries like Norway and Switzerland.
TEI GET comprises projects in the area of effective sustainable energy market, optimized grid infrastructure and renewable energy integration into the grid, it added.
Read Govt aims for 10% electricity from renewables by 2025
IBTRA Chattogram holds entrepreneurship development programme
Islami Bank Training and Research Academy (IBTRA) Chattogram recently conducted a month-long entrepreneurship development training programme.
Twenty-five entrepreneurs received certificates for completing the training.
Also read: IBTRA 194th internship programme closing ceremony held
Arif Hossain Khan, director of the Bangladesh Bank Chattogram office, was present at the closing ceremony of the programme as chief guest. SM Rabiul Hassan, principal of IBTRA, presided over it.
Meah Md Barkat Ullah, head of IBBL Chattogram South Zone, Mohammad Nurul Hossain, head of Chattogram North Zone, and Mohammad Ataul Hoque Sirazee, head of IBTRA Chattogram office, also spoke at the programme.
Read IBTRA organises workshop on challenges of 4IR