Bangladesh is one of the nine guest countries of the summit this year
4,621 loan recipients to get the benefit, the finance minister said at the parliament
Self-contradictory is what best describes Finance Minister AHM Mustafa Kamal’s fifth budget, and the last of the Awami League-led government’s current term.
Finance Minister AHM Mustafa Kamal today in his budget speech hoped that the ongoing stress in the foreign exchange reserves would improve in a short period of time.
Finance Minister AHM Mustafa Kamal today proposed formulating rules for authorising tax return preparers (TRPs) in Bangladesh with a view to expanding the tax net by adding more individual taxpayers.
In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.
The top 20 defaulters in the country have a total debt of Tk 19,283.93 crore while the amount of defaulted loans is Tk 16,587.92 crore.
Islami Bank, Social Islami Bank and First Security Islami Bank lent about Tk 9,500 crore under suspicious circumstances, as reported by different media. Of the sum, Tk 7,246 crore has been taken from Islami Bank alone.
The government yesterday sought more loans in concessional terms from the World Bank despite being the largest recipient of such funding as well as more budget support as it looks to shake off the impacts of the pandemic and the Ukraine war.
Bangladesh Bank has handed over the remittance award to loan defaulter and money launderer Shahjahan Bablu without scrutinising his background.
Any reforms in the banking sector will not be effective if those are made sparing loan defaulters, says Khondkar Ibrahim Khaled, former deputy governor of Bangladesh Bank.
Finance Minister AHM Mustafa Kamal categorically says that the licenses of the insurance companies, those have not been enlisted in the stocks market yet, will be cancelled if they do not do so by the next three months.
The government has short listed 17 companies for buying liquefied natural gas (LNG). Cabinet committee on economic affairs approved a master sale and purchase agreement in connection to the purchase.
Senior Secretary to the Bridges Division Khandker Anwarul Islam will be appointed as the new cabinet secretary, Finance Minister AHM Mustafa Kamal tells journalists.
Finance Minister AHM Mustafa Kamal has asserted that default loans at all banks did not increase in the last six months.
Finance Minister AHM Mustafa Kamal has stepped back from his budget decision to increase the source tax on all national savings instruments to 10 percent, considering that the hike would add more burden on the fixed income groups.
State-run commercial and specialised banks waived interest amounting to Tk 1,198.24 crore last year, Finance Minister AHM Mustafa Kamal tells the parliament.
The amount of total default loan in the country’s banks and financial institutions has increased by about Tk 43,210 crore since September 2015, Finance Minister AHM Mustafa Kamal informs parliament.
Finance Minister AHM Mustafa Kamal reveals the names of the top 300 loan defaulters in the parliament.
