Banking

Finance minister: Uniform VAT rate will remain at 15%

Posted by BankInfo on Sun, May 28 2017 04:19 am

The VAT rate will remain at 15%, and it will not be reduced'
 

Finance Minister AMA Muhith has said the uniform VAT rate will remain unchanged at 15% in the next fiscal year.

“The VAT rate will remain at 15%, and it will not be reduced,” he told reporters in his office on Saturday.

He added:  “The rate has been in effect since the beginning. We could have reduced it by 1-2%. But, what is point in doing so?”

Increasing national budget from Tk95,000 crore to Tk400,000 crore is one the vital achievements  of the government, he said, adding that budget for the next fiscal year would be around Tk500,000 crore.

The minister, however, declined to specify the amount, reports the Bangla Tribune.

“Human resources sector has been given importance in the budget. And, allocation for this sector will increase accordingly,” Muhith added.

news:dhaka tribune/28-may-2017
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Md Abdul Hamid Miah, Managing Director of Islami Bank Bangladesh Limited, addressing at Business Development Conference of Sylhet Zone at a local hotel Habigonj on Friday. Mohammed Monirul Moula, Abu Reza Md Yeahia, DMDs, Md Shafiqur Rahman, Zafar Alam, E

Posted by BankInfo on Sun, May 28 2017 04:08 am

Md Abdul Hamid Miah, Managing Director of Islami Bank Bangladesh Limited, addressing at Business Development Conference of Sylhet Zone at a local hotel Habigonj on Friday. Mohammed Monirul Moula, Abu Reza Md Yeahia, DMDs, Md Shafiqur Rahman, Zafar Alam, E

news:new nation/28-may-2017

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Md Mehmood Husain, Managing Director of NRB Bank Limited and Md Al-Amin, Director (Sales) of Hotel Westin Dhaka, exchanging an agreement signing documents at the bank's corporate head office in the city on Thursday. Under the deal, NRB Bank Credit Cardhol

Posted by BankInfo on Sun, May 28 2017 03:48 am

Md Mehmood Husain, Managing Director of NRB Bank Limited and Md Al-Amin, Director (Sales) of Hotel Westin Dhaka, exchanging an agreement signing documents at the bank\'s corporate head office in the city on Thursday. Under the deal, NRB Bank Credit Cardho

news:new nation/28-may-2017
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Bangladesh’s banking sector malignancy for economy: CPD

Posted by BankInfo on Sun, May 28 2017 03:40 am

Burdened with rising bad loans and lack of governance, the banking sector of Bangladesh has become a “growing malignancy” for the economy, said the Centre for Policy Dialogue  on  Saturday.

Despite significant growth, the sector is currently faced with a number of serious challenges, the think-tank said in its state of the economy report presented at a programme at the Brac Centre Inn in Dhaka.

“Overall performance of banks, particularly of state-owned commercial banks is far from satisfactory,” CPD said in the report.

According to the report, the sector is struggling to recover from the setbacks of large financial scams in a number of state-owned and private commercial banks, unearthed in recent years. “Most indicators reveal a poor health and lack of discipline in several banks.”

It said despite various initiatives taken by the central bank, the amount of non-performing loans has piled up.

 The think-tank said the latest decision to provide more directorial posts to a single family and extend their tenure in a bank will mean that the family ownership will have greater control on banks with the possibility of erosion of corporate governance.

The CPD also called for orderly transition to end the crisis at Islami Bank Bangladesh Ltd.

Fahmida Khatun, executive director of the CPD, Debapriya Bhattacharya and Prof Mustafizur Rahman, both distinguished fellow, and Towfiqul Islam Khan, a research fellow, spoke at the programme.

news:new 24.com/27-may-2017
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Sheikh Moulana Mohammad Qutubuddin, presiding over a meeting of Shariah Supervisory Committee of Islami Bank Bangladesh Limited as Chairman at its head office in the city recently. Md. Abdul Hamid Miah, Managing Director of the bank, Dr. Mohammad Abdus Sa

Posted by BankInfo on Sat, May 27 2017 05:09 am

Sheikh Moulana Mohammad Qutubuddin, presiding over a meeting of Shariah Supervisory Committee of Islami Bank Bangladesh Limited as Chairman at its head office in the city recently. Md. Abdul Hamid Miah, Managing Director of the bank, Dr. Mohammad Abdus Sa

news:new nation/27-may-2017
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