The letter claims that the World Bank has not sent any letter alone, or jointly with the IMF

World Bank has sent a letter to Dhaka Tribune refuting statements made in a Dhaka Tribune report titled “World Bank, IMF unhappy with VAT law suspension” published on July 7, 2017.

The report says World Bank and the International Monetary Fund (IMF) send a letter to the Ministry of Finance regarding the postponement of the law.

The letter claims that the World Bank has not sent any letter alone, or jointly with the IMF, to the Ministry of Finance or Bangladesh government regarding the delay in implementing the VAT law.

Transaction in electronic commerce or e-commerce, based on debit and credit cards, stood at Tk 5.87 billion in July-April period of the last fiscal year (FY17).

As a result, e-commerce transaction in 10 months of FY17 has crossed the annual transaction of FY16 by a wider margin.
Credit card dominates the e-commerce transaction in the country.
E-commerce transaction worth Tk 4.37 billion was made through the local and international credit card.

Frankfurt: The European Central Bank is likely to decide on the next change in its stimulus settings in the fall, when it will continue the process of tweaking its measures to reflect the Euro area’s upturn, according to Governing Council member Francois Villeroy de Galhau.

“What we have to do, and what we started to do, is to adapt the intensity of this accommodative monetary policy to the progress toward our inflation target and toward economic recovery,” he said in a Bloomberg Television interview on Saturday. “In the future, and this will be our decision next fall, we will go on adapting the intensity of this monetary policy.”

The French central-bank governor’s remarks may be the most definitive yet on when the ECB will take action on its 2.3 trillion-euro ($2.6 trillion) asset-purchase programme, which is currently scheduled to run until the end of the year.

While he is just one of 25 Governing Council members who decide monetary policy for the currency bloc, concerns are rising among some of his colleagues that time is running out if they are to avoid undesirable market volatility, reports The Gulf News.

Villeroy de Galhau’s choice of wording — “adapt the intensity” — which he said three times, adds to signs that the ECB intends to pare back stimulus in a way that doesn’t tighten financial conditions. Officials are concerned that while growth is picking up, inflation and wages are not.

Coeure also said that it is important for the central bank to be transparent in its communications, otherwise it risks more abrupt adjustment for the markets when the decisions are actually taken.

HANOI: Vietnam's credit institutions are facing difficulties in slashing annual lending interest rates by 0.25-0.5 percentage points upon the central bank's latest request, local media reported on Monday.

The request, unexpectedly announced at the weekend, aims to provide local businesses in priority sectors with better access to loans, hence boosting economic growth, daily newspaper Tien Phong (Pioneer) quoted Deputy Prime Minister Vuong Dinh Hue as saying, reports Xinhua.

"Banks can hardly lower lending rate at this time. They will have to suffer considerable benefit losses," a local banker said.

Former Councilor and President of Saydabad Bus Terminal Malik Samiti Mobarak Hossain inaugurates the Jatrabari SME Service Centre of Brac Bank at Jatrabari in the capital on Sunday.

BRAC Bank Limited relocated its Jatrabari SME Service Centre to provide modern banking services to the growing customers in the area.

Delowar Hossain Dilu, Councilor and President of Banik Samiti, Mobarak Hossain, former Councilor and President of Saydabad Bus Terminal Malik Samiti, Shafi Uddin Ahmed, renowned businessmen and Advisor of Bangladesh Chemical and Drug Samiti, Syed Abdul Momen, Head of SME Banking (acting), BRAC Bank, were present at the inaugural ceremony at Jatrabari in the capital on Sunday.