Local-Business
Samsung TVs now available at Singer shops
From now Samsung TVs will be available at the official outlets of Singer.
Samsung recently came into an agreement with Singer Bangladesh to provide customers the opportunity to buy Samsung TVs from Singer outlets.
A Singer Samsung partnership celebration event took place Thursday at Singer Mega Store in Shewrapara, Dhaka.
Read more: Samsung Bangladesh brings new B Series TVs
Samsung Bangladesh Country Manager Hwansung Woo and Singer Bangladesh Director and Head of Business (Consumer Electronics Division) Shahriar Bin Lutfor were present, according to a media statement.
Woo said: "With this partnership, we are hopeful of strengthening our relationship with Singer as well as making Samsung TV more accessible for our beloved customers."
Read More: 10 Smart TVs Under Tk50000 in Bangladesh
Fairoz said: "With this new partnership with Singer consumers will be able to get Samsung television at our stores across the country with convenient purchase options such as Singer's unique in-house hire purchase facility."
6 photographers honored with Made in Bangladesh Photography Award
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has honored six photographers with the first-ever Made in Bangladesh Photography Award for capturing the captivating beauty of Bangladesh through their creative eyes and lens.
Sultan Ahmed Niloy, Salahuddin Ahmed, and Md. Asker Ibne Firoz won the Photography Award while S M Yousuf Sharif, Sajib Karmakar and Muhammad Amdad Hossain have become runners up.
The awards were handed over to the winners at a grand ceremony organized by BGMEA at International Convention City Bashudhara in Dhaka on Wednesday.
Salman Fazlur Rahman, MP, Private Industry and Investment Adviser to the Prime Minister, graced the ceremony as the chief guest.
Nasrul Hamid, MP, State Minister for Power, Energy and Mineral Resources, attended the ceremony as special guest while Faruque Hassan, President of BGMEA, chaired the grand event
The Made in Bangladesh Photography Award has been launched by BGMEA to bring the captivating beauty of Bangladesh to the local and global audience through the lens of photographers and recognize the contribution of photographers in branding Bangladesh, said a media release on Thursday.
Read more: 2 Bangladesh projects win 2022 Aga Khan Award for Architecture
The photography contest was an exclusive event under the umbrella of "Made in Bangladesh Week", organized by BGMEA from 12 to 18 November.
Chosen from hundreds of submissions from all photographers in three categories – 1. Culture and heritage, 2. Industry and the economy and 3. People and landscape, the winning shots depict the beauty of Bangladesh and highlight the diversity of its culture, heritage, people and landscapes.
BGMEA President Faruque Hassan said Bangladesh is gifted with immense natural beauty, glorious history, rich culture and heritage.
Read more: 'Bangladesh Press Photo Contest 2022' underway at Drik Gallery
"From the Sundarbans to Bandarban, from rivers to forests, from hills to plains – wherever you go, this beautiful country has a lot to amaze you. With this photography contest, we want to encourage photographers to capture those moments, scenes and images that will testify to why we are proud of our Bangladesh and what makes “Made in Bangladesh” a prestigious brand in the world," he said.
BGMEA honors non-resident Bangladeshis with NRB Award
Omar Ishrak, Chairman of the Board of Directors at Intel, Mohammed Mahtabur Rahman (Nasir), Chairman and Managing Director of Al Haramain Perfumes Group of Companies and the Chairman of NRB Bank Limited, and Kiswar Chowdhury, one of the grand finalists of MasterChef Australia, have been honoured with NRB Award.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has honored them in recognition of their contribution to brightening the image of Bangladesh abroad.
The awards were handed over to them at a grand ceremony organized by BGMEA as a part of the Made in Bangladesh Week at International Convention City Bashudhara in Dhaka on Wednesday.
Read more: BGMEA seeks uninterrupted energy supply by special arrangements
Mohammed Mahtabur Rahman was present at the award ceremony while Omar Ishrak and Kiswar Chowdhury joined the event virtually and received the awards through their representatives.
Salman Fazlur Rahman, MP, Private Industry and Investment Adviser to the Prime Minister, graced the ceremony as the chief guest.
Nasrul Hamid, MP, State Minister for Power, Energy and Mineral Resources, attended the ceremony as special guest while Faruque Hassan, President of BGMEA, chaired the award giving ceremony.
BGMEA has launched the first-ever NRB Award to recognize the role of non-resident Bangladeshis in the development of Bangladesh.
BGMEA President Faruque Hassan said, “It gives me great pleasure to honor the non-resident Bangladeshis (NRBs) who are upholding the good name of Bangladesh abroad and relentlessly striving to build a better Bangladesh although they are many borders away.
Read more: Bangladesh's RMG bracing for next phase of growth: BGMEA
They have selflessly contributed immensely to the development of their motherland by sending their hard-earned remittances, promoting Bangladesh abroad and bringing home knowledge and technology. Bangladesh thanks you.”
Bangladesh Bank forms Tk 5000cr refinance scheme to ensure food security
Bangladesh Bank has formed a refinance scheme of Tk 5000 crore to boost food production and strengthen the country's food security.
Farmers can take loans from this fund at a 4 percent interest rate. They can borrow from this fund for a maximum of 18 months with a grace period of three months.
Bangladesh Bank issued a circular in this regard on Thursday and sent it to top executives of all banks. Farmers can take loans from this fund for crop cultivation, fish, poultry, dairy, vegetables, fruits, and flower firming.
The central bank believes that there is risk of a global food crisis due to the disruption in supply chain and prices of food grains are increasing for this reason.
In such a situation, to ensure the food security of the country, it is necessary to increase production.
Read: No forex crisis from Jan 2023, Bangladesh Bank Gov says
To this end, the central bank has decided to create a refinancing fund of Tk 5000 crore to maintain the flow of loans at low interest in the agricultural sector.
The circular stated that only farmers will get loans from this fund. Small marginal farmers can take a single collateral-free loan up to a maximum of Tk 2 lakh for the cultivation of crops including rice, vegetables, fruits and flowers.
According to the agricultural and rural loan policies of Bangladesh Bank, loans can be disbursed only against the related crop liability in the case of cultivation on a maximum of five acres of land.
Besides, banks can provide loans if it wishes by taking collateral on the basis of the customer-banker relationship.
Read: Bangladesh Bank curtails banks’ power to waive interest on loans
The loan money from this fund cannot be used to adjust the customer's old loan. Loan defaulters will also not get loans from this fund, the circular stated.
The duration of this loan disbursement is set to June 30, 2024, which would be increased if necessary.
Novoair's Rajshahi-Cox's Bazar flight starts
Private carrier Novoair has started operating flight on the Rajshahi-Cox's Bazar route.
Rajshahi City Corporation Mayor AHM Khairuzzaman inaugurated the flight Thursday at Shah Makhdum Airport.
Novoair Managing Director Mofizur Rahman and Rajshahi Chamber of Commerce and Industry President Masudur Rahman were also present.
The direct flights will leave Rajshahi every Thursday at 10:30am and will arrive in Cox's Bazar at 12pm.
Also, they will depart Cox's Bazar every Sunday at 3:35pm and will arrive in Rajshahi at 5:05pm, according to a media statement.
Read more: Novoair listed as world’s safe airline
One-way fare starts from Tk5,900, it added.
Novoair now operates daily flights from Dhaka to Chattogram, Cox's Bazar, Saidpur, Jashore, Sylhet, Rajshahi and Kolkata.
BFIU suspends cash out from 230 MFS accounts over transactions through hundi
Bangladesh Financial Intelligence Unit (BFIU) has suspended cash out from 230 accounts of Mobile Financial Service (MFS) for their involvement in the transfer of remittances through hundi, an unauthorised channel.
The BFIU has taken the initiative to prevent transfer of remittances through hundi and increase remittances through legal channel.
According to BFIU, the customers concerned will not be able to withdraw money from these accounts until further instructions, but money can be sent to these accounts.
Read: BFIU launched standalone website to strengthen awareness against money laundering
The suspended accounts are with bKash, Nagad, upay, and Rocket.
Bangladesh Bank curtails banks’ power to waive interest on loans
Bangladesh Bank is seeking to curtail the powers of the banks’ board of directors to waive interest on loans without consultations with the relevant departments.
The central bank’s Banking Regulations and Policy Department on Wednesday issued a circular in this regard.
It instructed the banks in case of interest waiver they have to take the opinion of the head of internal control and compliance (HICC) through internal audit department.
Read more: Bangladesh Bank allows export income, remittance through MFS
The circular stated that in essential cases, the opinion of the HICC should be taken through the internal audit department of the bank to confirm the rationale of relaxation of the conditions for collection of funds.
It said that banks can waive interest on loans due to various uncontrollable reasons such as death of the borrower, natural calamities, epidemics, flood, due to distress, or closed project bank loan interest may be waived in whole or in part.
But recently, it has been seen that the banks often waive the interest of various customers without considering these special circumstances.
Read more: Can Bangladesh Bank make depositors feel safe ?
“This may create disinclination among the customers to pay the bank dues within the stipulated time to get the interest waiver facility, which is against the overall credit discipline in the banking sector,” it said.
For this purpose, to create awareness among the customers to pay the bank's dues within the prescribed period, maintain overall credit discipline and protect the customers' interests, the new guidelines should be followed in the waiver of all types of interest.
Bangladesh Bank allows export income, remittance through MFS
Bangladesh Bank has allowed mobile financial service (MFS) providers to repatriate (conversion of foreign currency into local currency) export income and inward remittance.
All authorised dealers will provide encashment certificate to MFS providers against inward remittance, on account of information technology enabled services (ITES) exports.
In order to make it easier to receive foreign exchange, Bangladesh Bank issued a circular stating that all authorised dealers in foreign exchange and all licensed MFS providers are allowed to receive export income on account of ITES exports in association with internationally recognised OPGSPs/digital wallets and/or aggregators having operation in multiple countries.
The Foreign Exchange Policy Department of the central bank issued the notification on Wednesday and sent it to authorised dealers and MFS providers for immediate implementation.
Read more: Towards a cashless society: MFS monthly transactions cross Tk 1.11 lakh crore
The notification said that authorised dealers maintaining settlement accounts will issue encashment certificates in support of inward remittances on request from MFS providers electronically.
In this case, the request needs to be supported by auto-generated information – beneficiary’s name, wallet account number, the amount in taka, date of credit – from a remittance service provider abroad.
Based on their own screening parameters regarding the information, designated authorised dealers shall generate an electronic encashment certificate (as per enclosure A) with QR code accessible to beneficiaries through MFS providers.
Read more: MFS sector led financial transactions during Covid-19 pandemic: Nagad MD
The certificate is intended to be used for income tax purpose only.
Lugang Technology to invest US$ 23 million in Ishwardi EPZ
Lugang Technology (Bangladesh) Limited, a Hong Kong (China) owned company, is going to establish a textile industry at Ishwardi Export Processing Zone (IEPZ).
This fully foreign owned company will invest US$ 22.99 million where 3182 Bangladeshi nationals will get jobs, said a press release issued on Wednesday.
Read more: EPZs saw all-time high export, investment, job growth in FY22: Bepza
The company will produce annually 5,100 tons raw and dyed yarn.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Ding Feng, Vice General Manager of Lugang Technology (Bangladesh) Limited signed an agreement to this effect on behalf of their respective organizations on Wednesday at BEPZA Complex in Dhaka.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at the signing ceremony.
Read more: BEPZA EZ gets $28m more in investment
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md. Zakir Hossain Chowdhury, Executive Director (Investment Promotion) Md. Tanvir Hossain and Additional Executive Director (Public Relations) Anwar Parvez along with representatives of the enterprise were present at the signing ceremony.
ATAB to host tourism expo Dec 1-3; deal with “Air Astra” signed
Association of Travel Agents of Bangladesh (ATAB) will host a three-day fair titled “Bangladesh International Travel and Tourism Expo (BITTE)” from December 1-3.
The expo will be held at Bangabandhu International Conference Center (BICC) to promote travel and tourism.
A title sponsorship agreement was signed with newly launched domestic airline “Air Astra” at a city hotel on Saturday.
Read: Private carrier Air Astra to start operations in November
ATAB Secretary General Abdus Salam Aref and Chief Executive Officer of the Air Astra Imran Asif signed the agreement on behalf of the ATAB and Air Astra respectively.
ATAB Secretary General Abdus Salam Aref said various international and domestic airlines, hospitals, tourism boards, travel agencies, tour operators, hotels, resorts and cruise liners have confirmed their participation as exhibitors in BITTE.
US Bangla Airlines General Manager (Public Relations) Kamrul Islam, ATAB Vice President Afsia Jannat Saleh, Deputy Secretary General Golam Mahmud Bhuia Manik, Finance Secretary Abdur Razzak, Public Relations Secretary Atiqur Rahman and Cultural Secretary Toaha Chowdhury, among others, spoke.