Business
Malaysia’s Silverlake Group to form partnership with Nagad
Malaysian Silverlake Group is forging a partnership with mobile financial service provider Nagad.
After learning about Nagad and studying its related case studies, Silverlake Group founder Goh Peng Ooi expressed his interest to form the partnership. This will mark Silverlake Group’s first partnership initiative in South Asia, according to a media release.
Tanvir A. Mishuk, founder and CEO of Nagad Ltd, recently met Goh Peng Ooi in Malaysia.
Impressed by Nagad’s customer-friendly innovations, acquisition of over 9 crore customers within just five years, and its unique business model, Goh expressed his interest. During this courtesy call, Mishuk also invited him to Nagad Ltd, the release said.
Founded in 1989, the Silverlake Group delivers cutting-edge tech and financial solutions, and currently provides support to more than 400 banks operating in over a hundred countries. Almost all banks in Singapore, including its two main banks United Overseas Bank (UOB) and Oversea-Chinese Banking Corporation (OCBC), are heavily dependent on Silverlake Group’s technology. The leading tech solution provider’s business collaborations extend across Europe, America, Australia, Africa, and Asia.
During the meeting with Tanvir A. Mishuk, Goh Peng Ooi said that they had previously received multiple proposals from different companies based in several South Asian countries, including Bangladesh and India, but they hadn’t found sufficient reasons to integrate them with Silverlake. However, they perceive Nagad differently in the realm of financial entities.
According to the proposal, Silverlake Group will offer Nagad the opportunity to utilise its most advanced banking technologies. Nagad believes that this initiative will not only benefit Nagad but will also bring significant changes to the entire banking sector in Bangladesh.
Talking about Goh Peng Ooi and Silverlake Group’s interest in partnering with Nagad, Nagad CEO Tanvir A. Mishuk, said, “I think this is not only good news for Nagad but also for the entire Bangladesh, as it creates the possibility of a drastic change in the country’s banking landscape. We believe it will eventually play a transformative role for millions of people in the country.”
Trade through Benapole land port suspended due Dol Yatra, Independence Day holidays
Trade between Bangladesh and India through Benapole-Petrapole land port remained suspended since Monday morning due to India's Dola Yatra and Bangladesh's Independence Day holidays.
Though export and import have been suspended, the unloading of goods and other activities of the port remained uninterrupted.
Karthik Chakraborty, general secretary of Petrapol C&F Staff Welfare Association of India and Sajedur Rahman, general secretary of Benapole C&F Agent Staff Association confirmed the matter.
Kamruzzaman Biswas, Officer-in-Charge (OC) of Benapole Checkpost Immigration Police, said though trade will remain suspended for two days the movement of passengers will be normal.
Rezaul Karim, Director of Benapole Port, said export and import though the land port will resume from Wednesday morning.
BGMEA president visits Adamjee EPZ; seeks comprehensive support for factories
President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan on Sunday visited the Adamjee Export Processing Zone (EPZ) and urged the EPZ authority to provide comprehensive support to the factories operating within the EPZ.
During his visit, Faruque Hassan held a meeting with Moshiuddin Bin Mesbah, Executive Director of the Bangladesh Export Processing Zones Authority (BEPZA).
Highlighting the pivotal role of EPZs in driving industrial development, Faruque Hassan emphasized the importance of facilitating a favorable industrial environment for garment factories.
Accompanied by Directors of Giant Group - Sharmeen Hassan Tithi, Azfar Hassan, and Ashaab Adeeb Hassan, Faruque Hassan toured various factories within the Adamjee EPZ.
He actively interacted with both workers and employers, gaining valuable insights into their perspectives and concerns.
Faruque Hassan highlighted the sound relationship between workers and employers within the Adamjee EPZ, underscoring its positive impact on productivity and fostering a harmonious work environment.
The BGMEA President called upon workers and entrepreneurs to stand united and work collaboratively for the development of the ready-made garment sector in Bangladesh.
He emphasized the significance of collective action in addressing challenges and seizing opportunities for sustainable growth and prosperity.
Faruque Hassan mentioned the ongoing efforts of BGMEA to promote sustainability in the RMG sector of Bangladesh.
BGMEA is actively engaged in raising awareness about the crucial role of tree plantation in protecting the environment and the planet.
He recalled the campaign undertaken by BGMEA in 2021 to plant trees in different areas including in garment factories.
After taking over the charge of BGMEA in 2021, Faruque Hassan, as part of the tree plantation program, planted saplings at the different factories in Adamjee EPZ in Narayanganj.
He requested the Adamjee EPZ authority to support and encourage tree plantation in the EPZ area.
Offshore banking law to boost flow of foreign currency: Finance Minister at BIDS seminar
Finance Minister Abul Hassan Mahmood Ali on Sunday reiterated that the recently passed offshore banking law will boost the flow of foreign currency in the country.
He said this while speaking as the chief guest at the second session of the seminar on ‘Unpacking the Economic Manifesto of the Awami League: Trends and Challenges for Tomorrow Bangladesh’ organized by the Bangladesh Institute of Development Research (BIDS), the government think-tank, held at its auditorium in Agargaon in the capital.
He said the foreign depositors and investors have already started responding in Bangladeshi banks after the offshore banking law was passed.Depositors said that they are pleased with the new offshore banking law in Bangladesh, according to Mahmood Ali. Savings from abroad will rise soon, increasing the flow of foreign currency into the country, the finance minister pointed out.
Planning Minister Major General Abdus Salam, (retd), MP was the chief guest in the morning session of the seminar.
Dr Mashiur Rahman, Economic Affairs Adviser to the Prime Minister, Dr Tawfiq-e-Elahi Chowdhury, BB, Power, Energy and MR Affairs Adviser were present as the special guests.Dr Binayak Sen, Director General of BIDS, moderated the event.
Several research papers were present in the seminar on socio-economic development of Bangladesh including macroeconomic stability.
UCB arranges meeting in Kushtia to find solutions to freelancers’ problems
United Commercial Bank PLC (UCB) organised a freelancer summit in Kushtia to find solutions to the problems now the freelancers have been facing in their professional works.
The event, titled: UCB Swadhin Freelancer Summit, was held at the Shilpakala Academy in Kushtia.
UCB’s Additional Managing Director and Company Secretary ATM Tahmiduzzaman and Dr. Tanjiba Rahman, Chairman of Bangladesh Freelancer Development Society (BFDS), addressed the event.
More than 220 freelancers from the area took part in the meeting. They shared the problems faced by them while bringing home their hard-earned money. They also gave some ideas to resolve their problems.
UCB introduced Swadhin account, designing it as a complete banking solution for freelancers to ease the process of receiving remittance seamless and hassle-free.
Under the account the freelancers can easily receive their earnings through UCB Swadhin account in foreign currency and then convert it into local currency without any hassle.
Business leaders urge to check influence of ‘invisible hands’ in supply system
Business leaders have stressed making the supply system free from the influence of ‘invisible hands’ to keep the commodity prices stable.
They said this in the price monitoring committee’s coordination meeting of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at its office in Motijheel on Sunday.
FBCCI Senior Vice President Md. Amin Helali presided over the meeting. FBCCI directors and business representatives of different sectors were present at the meeting.
Bangladesh Bank, Prime Bank sign deal over loan support to women entrepreneurs
They said that common people often make harsh comments about the prices of goods but most traders want to conduct their business transparently.
All of the traders are earning bad name because of a few people, they said.
Amin Helali urged the market committees to record the problems and obstacles in each market of the capital and submit those to FBCCI.
Bangladesh among 30 countries with the highest purchasing power parity in the world
The federation will discuss the problems of traders at the highest level of the government, he said.
Bangladesh Bank, Prime Bank sign deal over loan support to women entrepreneurs
Bangladesh Bank (BB) and Prime Bank PLC have joined hands to provide financial support to women entrepreneurs.
An agreement in this regard was signed between the central bank and Prime Bank at the central bank headquarters recently.
Under this agreement, the central bank will provide a guarantee against its interest-free refinance of Tk 3,000 crore to encourage small women entrepreneurs.
BBS Survey: Life expectancy in Bangladesh drops to 72.3 yrs
The average life expectancy and birth rate in the country have declined in a span of a year.
Bangladesh Bureau of Statistics (BBS) revealed this on Sunday in a report titled ‘Bangladesh Sample Vital Statistics-2023’.
According to the BBS report, life expectancy at birth in 2023 has decreased statistically, to 72.3 years, which was 72.4 years in 2022.
On the other hand, the population growth rate has decreased in a span of a year. The general growth rate of the population in 2023 is 1.33 percent which was 1.40 percent in 2022.
'Joyee 360': IPDC launches sub-branch in Dhaka’s Mirpur for women entrepreneurs
The BBS survey revealed that among the top ten causes of death, the first cause of death is cardiac arrest at 1.027 percent and the second cause at 0.64 percent was cerebral brain hemorrhage.
The average age at first marriage for men is 24.2 years and for women 18.4 years.
In terms of internal migration, the rural arrival rate is 20.4 and the urban arrival rate is 43.4 per thousand population.
In addition, the number of young populations not in education, work or training decreased to 39.88 percent in 2023 compared to 40.67 percent in 2022.
The mobile phone user population aged 5 plus increased to 59.9 percent in 2023. However, for 15plus-year-olds, the rate has slightly increased to 74.2 percent compared to 73.8 percent in 2022. 50.1% of Internet users aged 15 plus in 2023.
The sex ratio is slightly downward in 2023 standing at 96.37 percent, and the dependency ratio is 53.73 percent. The population density is 1,179 persons per square kilometer. The gross birth rate per thousand population was 19.4 in 2023, which was 19.8 in 2022.
At that time (2023), the obesity mortality rate per thousand population was 6.1, which was 5.8 in 2022. The under-five mortality rate is 33 per thousand and the maternal mortality ratio is 136 per 100,000 live births, compared to 153 in 2022.
Bangladesh among 30 countries with the highest purchasing power parity in the world
The number of birth control users in 2023 decreased slightly to 62.1 percent in 2023 compared to 63.3 percent in 2022. Unmet demand for birth control decreased to 15.57 percent in 2023 compared to 16.62 percent in 2022.
Household size remained unchanged in 2023 as in 2022 at 4.2. However, the rate of female household heads increased in 2023 compared to 2022. It was 17.4 percent in 2022, which increased to 18.9 percent in 2023. On the other hand, male household head was 82.6 percent in 2022, the rate decreased to 81.17 percent in 2023.
'Joyee 360': IPDC launches sub-branch in Dhaka’s Mirpur for women entrepreneurs
IPDC Finance has launched a specialised sub-branch, 'Joyee 360', in Mirpur, Dhaka, focusing on the 'Joyee' service for women entrepreneurs.
IPDC has started the operations of this sub-branch to accelerate women entrepreneurs’ contribution to the economic development of the country.
'Joyee’ is a loan service of IPDC that started in 2018 to support the expansion of business activities of women entrepreneurs.
This time, IPDC has launched the sub-branch adding more facilities to the 'Joyee' loan service.
A special meeting space called 'Joyee Alapan' has been arranged in the sub-branch 'Joyee 360'. 'Joyee' customers can conduct their business meetings there.
Apart from this, there is a special program called 'Joyee Pathshala' to conduct regular workshops and training on initiatives. All services including other regular products of IPDC such as deposits, home loans, and auto loans will be available at this sub-branch.
How to Answer “Why Did You Choose this Job?” Effectively
One of the most common questions in any job interview is “Why did you choose/apply for this job?” As an interviewee, it can throw you off-guard if you didn’t prepare beforehand. It's important to be strategic while answering this question as it can be a make-or-break situation when it comes to securing the job. Here’s how you should go about it.
Why Do Recruiters Ask “Why Did You Choose this Job?”
The two main reasons why recruiters ask this question are your motivation and organizational fit. Recruiters want to know whether you are motivated enough for the specific role. They also want to understand whether your ideas and values align with the organization's.
The question also allows them to assess your long-term career goals, skills, and preparedness for the position. It provides an insight into your character, vision, and suitability for the organization in the long run.
Read more: How to Make a Video Resume: A Step-by-Step Guide
How Do You Justify the Choice?
Now, if you’re in an interview and asked this question, you will need to justify why you chose or applied for the job. It's granted that you cannot say stuff like you like the salary or the designation. While these certainly can be motivating factors, recruiters want to know the in-job aspects that interest you or align with your skills and aspirations. Keep the following points in mind while justifying your choice.
- Highlight your research on the company and the position - Show opportunities for growth - Highlight your potential impact and contribution to the organization - Personal connection - Show eagerness, enthusiasm, and commitment to the role.
Read more: What to Wear for a Job Interview