The adult has finally entered the room. Earlier this week, like a bolt from the blue, an extraordinary notice from the Bangladesh Association of Banks (BAB), a forum of bank sponsors, instructing lenders to cut the salaries of staff who draw a gross salary of more than...
Visa Inc. (NYSE: V), a leader in payments technology, today unveiled its plans to establish a country liaison office in Dhaka, Bangladesh.
The new office is expected to be established before the year-end and will staff a team of executives through whom Visa will introduce new...
Interlinkages Online, a cross-border trade finance marketplace, and Creditsafe, a global business intelligence expert, has announced their strategic collaboration to provide the Global Counterparty Credit Reports to the financial institutions in Bangladesh, according to a media statement. Cato Syverson, CEO at Creditsafe, said: “Creditsafe is very excited...
Prime Bank Ltd on Tuesday announced an alliance with Bangladesh Association of Software and Information Services (BASIS) to finance micro, small and medium enterprises (MSMEs) under the ICT sector. BASIS members can apply for up to Tk 5.0 million worth of collateral-free loans at 9.0 per cent...
Bangladesh Association of Banks (BAB), a forum of bank directors, recommended that commercial banks could cut their staff salaries and allowances as high as 15% for one year starting this month. The association in a letter also recommended banks to suspend CSR (corporate social responsibility) activities during the...
The Asian Development Bank (ADB) has signed a $17.7 million financing package with Spectra Solar Park Limited (SSPL) to invest in a 35-megawatt utility-scale solar photovoltaic plant in Bangladesh. The solar park is one of the first private sector solar plants in Bangladesh to be financed by...
City Bank entered into a 15 million trade finance line with ITFC, the trade financing arm of Islamic Development Bank (IsDB) to support private sector enterprises in Bangladesh. Jeddah-based International Islamic Trade Finance Corporation (ITFC) is playing a key role to enhance trade and economic cooperation among...
The Covid-19 pandemic has raised the need to spend more on priority sectors like health and education, but since the revenue collection prospect looks bleak in a crumbling economy, the government will have to rely more on foreign financing. But the poor uptake of foreign loans this...
In response to the Covid-19 pandemic City Bank has introduced a mobile app for its working capital finance customers to ensure physical distancing, according to press release issued on Sunday. The customers are the distributors and retailers of local and multinational conglomerates. Through this app, customers will...