Bangladesh Bank on Tuesday asked scheduled banks not to submit any recommendation before the central bank to provide cash incentive for exported items of the businesspeople avoiding central bank’s rules and regulations. The BB issued a circular to authorised dealer branches in this regard saying that a number of banks were now frequently submitting applications to seek special consideration from the central bank to provide cash incentive to the exporters violating the central bank’s rules and regulations. The BB asked the banks not to submit such type of applications to enjoy the cash incentive following the central bank’s circular. A BB official told New Age on Tuesday that the central bank would not accept any application to provide the cash incentive to the exporters. The government earlier announced to give cash incentive for 14 items of exported products for the financial year 2015-16. The major exported items that enjoy the cash incentive are: apparel products, bone dust, shrimp, frozen fish, finished jute goods, handmade products from hogla, hay and sugarcane fibre, halal meat, potato and pet bottle-flex. 

Economic Reporter :Bangladesh Bank will share experience of the World Bank to strengthen further its research and development activities when a top WB official visits Dhaka later this month, BB chief economist Biru Paksha Paul said at a press briefing on Monday.Briefing journalists at the central bank on the forthcoming visit of the WB chief economist Professor Kaushik Basu, he said the visit would offer a great opportunity to the central bank staff to share WB's experience on how their research and development activities could be intensified to support sustainable economic growth.Basu, also Senior Vice-President (Development Economics) of the multi-donor agency, is coming to Dhaka on December 12 on a 5-day visit to Bangladesh at the invitation of Bangladesh Bank (BB) Governor Dr. Atiur Rahman. His schedule in Dhaka includes a public lecture on "Global Economy, Bangladesh and Regional Cooperation: Problems and Prospects" at Bangabandhu International Conference Centre (BICC) at 3pm on December 13.Besides, Dr Basu, an Indian national, will visit the central bank and exchange views with the officials of its research cell apart from holding meeting with the governor, Biru Paksha Paul said.He said Dr Basu will also visit rural areas to have an idea about the country's growing economy.He will also take part in an international workshop on "Macroeconomic stability, private sectors development and economic growth" at BICC on December 14 morning, Paul said. He said the WB chief economist will also attend a press conference at BICC at 6pm on December 15. He is scheduled to leave Dhaka on December 16, the BB chief economist added.Dr Basu, a fellow of the Econometric Society, received India's Padma Bhushan award as well as the National Mahalanobis Memorial award.His contributions span development economics, welfare economics, industrial organisation and game theory.Prior to joining the World Bank, he served as the chief economic adviser to the government of India and is currently on leave from Cornell University where he is a professor of Economics and the C. Marks Professor of International Studies.

Bangladesh Bank Governor Dr Atiur Rahman, poses with the members of 12th Islamic Financial Stability Forum and 27th meeting of the Council of the Islamic Financial Services Board at Jeddah, Saudi Arabia on Tuesday.

Economic Reporter :Bangladesh Bank (BB) Governor Dr. Atiur Rahman on Monday called upon the Financial Institutions (FIs) to stand beside the chill stricken poor. The governor urged the FIs as well as the rich people of the country to provide winter clothes and blankets among the chill stricken poor."The whole country is shivering in the bittering cold. In the mean time, the entire country along with the northern part is experiencing unbearable chill", said the governor in a press statement.The meteorology department has already warned of worsening chilly wind along with shivering winter in the coming days. Each year the newspapers headline the affliction of low income people of the North Bengal, char basin area, haor, and flood prone areas lacking of winter clothes, said Atiur Rahman.He expected that this year also the banks and financial institutions would extend their helping hands to the chill stricken poor providing winter clothes and blankets under corporate social responsibility (CSR). "We have to ensure that no street child with a bank account suffers from lack of winter clothes", said the governor.

In the purpose of providing shariah based modern banking, Union Bank Ltd has opened its Bazar Hashnabad Branch at Amirgonj, Raipura, Narsingdi on Sunday.

Md. Abdul Hamid Miah, Managing Director of the Bank, inaugurated the Branch.

Among others Deputy Managing Director A.B.M. Mokammel Haque Chowdhury, Senior Vice President & Head of HRD Md. Mainul Islam Chowdhury, Bazar Hashnabad Branch Manager as well as renowned Businessmen, Industrialists, Local Elites, Executives and Officers of the Bank were also present on the occasion.

A Doa-Mahfil was also organized on the occasion. The Bank is committed to play the leading role in the economic development and Industrialization of the Country.