Business
IMF voices concern over rising bad loans in banks
A visiting delegation of the International Monetary Fund (IMF) has expressed concern over the weakness of Bangladesh's banking system and the high rate of non-performing loans (NPL), according to a senior official of the finance ministry.
The IMF conveyed this concern at a meeting with the Banks and Financial Institutions Division (FID) at the Secretariat early this week. The organization has urged good governance to restore order in the banking sector.
The IMF also wanted to know current situation of the banking sector in discussion with the FID, said the official on condition of anonymity because he is not authorized to talk to the media.
Also read: IMF reaches deal with Pakistan to revive $6B bailout
“The delegation said that even after the government provided various facilities to control defaulted loans, it did not decrease. Rather increased than before,” said the official. The IMF wanted to know why this is happening.
In response, banks and Financial Institutions have said that the government is trying to reduce defaulted loans. This effort will be continued, sources said.
Also read: Bangladesh economy to grow 6.6 per cent FY22, as Covid-19 transmission decreases: IMF
At present, the amount of defaulted loans in the banking sector is Tk1.13 lakh crore, which is more than 8.5 per cent. Most of the defaulters are state-owned banks.
Bank Job Circular: Job in Southeast Bank, no experience required
Private sector Job: South East Bank Limited has published recruitment circular. This bank will recruit for Trainee Assistant Officer (Cash) without experience. Interested candidates should apply online.
Post Name: Trainee Assistant Officer (Cash)
Number of Posts: Unspecified
Qualification: At least Bachelor's Degree. Third division/class or equivalent GPA/CGPA at any level of education is not acceptable. No experience required.
Age: Maximum 30 years. However, the age is relaxable up to 32 years in the case of children of heroic freedom fighters.
Salary: First year salary during apprenticeship is TK. 26,000. TK. 30,000 next year. Salary will be TK. 36,000 at the end of successful apprenticeship.
Conditions: 300 rupees stamp must be signed on the condition that you have to work in Southeast Bank for three years.
How to apply
Interested candidates have to click on Apply Now link: https://recruitment.southeastbank.com.bd/login.jsp to know the detailed information about the recruitment online from this link.
Application Last Date: 25 July 2022
Read: BIWTA Job Circular: BIWTA will take multiple employees, applications online
How to Create Perfect First Impressions to Succeed in Career, Business, Relationships?
The initial impression can be a deciding factor about you, and it can determine how people perceive you. Although you can change your impression of others as you get closer to them, people subconsciously judge others based on their first impression. This judgment can determine whether someone is likely to affiliate with us or not. Our first impressions are shaped by our environment, culture, and upbringing. They can also be based on the physical appearance of someone. Our first impression is an essential factor in how we interact with others, both socially and professionally. Learn how to make an excellent first impression and be the best version of yourself.
Why Is First Impression So Important?
The first impression is so important because it sets the tone for the rest of the conversation. It can be the deciding factor in whether someone trusts you or not. If you make an excellent first impression, people are more likely to want to work with you and be friendly towards you. You can also use this to your advantage by ensuring your appearance is neat and polished.
First impressions happen fast; your goal is to make a great one. A person’s first impression of you will stick with them for a long time. If a good one, then that image will grow and develop into memories, stories, and experiences with you as the focus. Also, the way that you present yourself is key to your success in negotiations, networking situations, and any other interactions where your reputation is at stake.
Read Time Management: How to be ruthless with your time
10 Easy Tips To Create the Best First Impression
A great first impression can make or break a person’s career, networking, or relationship, so it’s important to be able to create a good one. Let’s see 10 simple tips you can follow to create a better first impression.
Make Eye Contact
People who make eye contact have a better first impression. They seem more confident and trustworthy. Additionally, they may seem to be more intelligent. People who do not make eye contact often appear to be shy or uncomfortable. It is important to make good first impressions so that you can gain the trust of others and build relationships.
Dress According to the Occasion
When meeting someone for the first time, one of the first things that come to mind is their appearance. However, what you wear also plays a role in how someone perceives you. In order to create the best impression, it is important to dress appropriately for the occasion.
Read Sunk Cost Fallacy: Why It's Better to Forget the Past
There is no one right way to dress for every occasion, but following a few simple guidelines can help create the best possible first impression. When meeting someone for the first time, always dress clean and proper.
For formal occasions, try to dress in a well-tailored suit or dress. For more relaxed occasions, wear something comfortable and stylish. Accessories can also make a big difference, so try to stick with items that will complement your outfit and make you look your best.
Smile
Smiling has been shown to increase happiness, motivation, and confidence. When you smile at someone, it sends a message of friendliness, openness, and respect. Smiling also makes you look more attractive, which can help improve your chances of being liked and getting what you want. So, why not try to smile as much as possible? It could make a big difference in your overall impression.
Read Investing in Yourself: 10 Best Ways of Investment for Self-Betterment
Be A Good Communicator
Communication is important in any job, networking, or even relationship. It’s the glue that holds everything together. When you communicate effectively, it creates a good first impression and builds trust. It is essential to have a good communication profile so that people can form an accurate opinion of you.
Be Yourself
There are a million things people do to create the best first impression. But, in the end, the most important thing is to be yourself. People will either like you or not, but they will always remember what your impression was of them. So, do not try to be someone you are not - just be yourself.
Body Language
Positive body language is one of the most powerful tools you have in your arsenal when meeting new people. It can make you seem more confident, friendly, and likable - all factors that can help create a better first impression. It can also help to build trust and confidence.
Read Self-Accountability: How to Develop Personal Accountability in Life
Choose Your Words Wisely
When you meet someone for the first time, the most important thing is to make a good impression. This means being professional and speaking in a way that will come across as intelligent and sincere. When describing what you can do or offer, be as specific as possible. This will make your listener more likely to believe that what you have to say is worth their time and attention.
Use Small Talk
Small talk can be a great way to make a good first impression. It can show that you are interested in the person you are talking to, and it can help to break the ice. Try to come up with topics of conversation that you know the other person is interested in, and use language that is friendly and positive.
Show Empathy
When you make a first impression, it’s important to be thoughtful and considerate. That means being aware of the ways in which you can show your empathy – whether it’s through your words or actions. It can help create a positive initial impression, setting the tone for a more productive relationship.
Read Law of Attraction: Ways to Manifest Your Dreams
Do Your Research
Doing your research before a meeting with someone can make all the difference in the impression you make. Preparation can help you come across as knowledgeable and confident, which will boost your chances of being successful in making a connection.
Final Words
A great first impression is one that makes the person you are talking to feel like they have known you for years. And, it is a feeling that lasts much longer than the length of time it took you to create that impression. If you follow the above-mentioned tips, making a first impression will be easier for you.
Income tax returns made mandatory to get 40 types of services
The government has made it mandatory to show proof of income tax returns to get 40 types of services, said the new income tax guidelines for the fiscal year 2022-23.
An income tax return is a means of presenting a taxpayer's annual income, expenditure and wealth information to the income tax authorities in a prescribed form.
According to the Income Tax Act, the income tax return has to be filed in the prescribed form of the National Board of Revenue (NBR).
Read: Nagad, Swisscontact team up to enhance financial inclusion of RMG workers
“If the annual income of an individual-taxpayer is more than Tk3 lakh, if the income of a person of the third gender, women and 65 years and above is more than Tk3.5 lakh, if the income of a gazetted war casualty freedom fighter taxpayer is more than Tk4.75 lakh and if the income of the disabled taxpayer is more than Tk4.5 lakh, it is mandatory to submit his return,” said in the guidelines.
Apart from this, there are many other reasons that make it mandatory for a person to file a return. It is not only necessary to submit returns from the current financial year, but to get various government services, proof of return submission is also required.
Soybean oil price cut by Tk14 per litre
Amid much talk over the higher price of soybean oil, the government on Sunday reduced the price of bottled soybean oil by Tk14 to make it Tk 185 per litre.
The new price will be effective from Monday across the country, a senior official of the commerce ministry told UNB.
In consultation with the commerce ministry, the Bangladesh Vegetable Oil Refiners and Vegetable Manufacturers Association (BVORVMA), an association of owners of edible oil refining and marketing companies on Sunday made the announcement.
Also read: CAB urges govt to readjust edible oil prices
This brings down the bottled soybean oil price by 7.03 per cent from Tk199 to Tk 185 per litre due to the declining price in the global market.
The BVORVMA also agreed to reduce the price of palm oil from Tk 6 a litre to Tk 152 a litre.
Also read: Soybean oil price decreased by Tk 6 per liter
The new price of five-litre bottle of soybean oil will be Tk 910, down from Tk 980, he said.
Nagad, Swisscontact team up to enhance financial inclusion of RMG workers
Mobile financial service Nagad and Switzerland's Zurich-based non-profit organisation Swisscontact recently signed a memorandum of understanding (MoU) to enhance the financial inclusion of apparel workers through a digital platform.
The initiative, a part of "Sarathi – Improving Financial Health," aims to introduce ready-made garment (RMG) workers to the easily-accessible services of Nagad and increase their digital literacy by raising awareness, according to a media statement.
Nagad CEO Rahel Ahmed and Mujibul Hasan (Cezanne), country director of Swisscontact Bangladesh, signed the MoU in the capital.
Read: Nagad launches add-money service from Meghna Bank
Sarathi – Improving Financial Health project was launched by Swisscontact, under which both organisations seek to reach about 17,400 RMG workers and their communities with digital financial products and services.
The programme is anticipated to encourage beneficiaries to transact their digital currency in alternative avenues. The project will run until October 20.
The joint initiative will include uddokta, merchants, and educational institutions. Through this initiative, Nagad and Swisscontact will conduct activities to raise financial awareness among the RMG workers and their communities.
Read BURO partners with Nagad for easier savings, instalment payments
BB lets dealers to open foreign currency deposit accounts
Bangladesh Bank has allowed authorized dealers (ADs) to open interest-bearing non-resident foreign currency deposit (NFCD) accounts in order to increase foreign currency flow.
The non-resident Bangladeshi nationals and persons of Bangladesh origin, including those having dual nationality and ordinarily residing abroad, will be eligible for opening such deposit account, said a circular of BB.
The BB's Foreign Exchange Policy Department (FEPD) issued a circular on Sunday and sent it to all ADs in foreign exchange in Bangladesh to effect the notification immediately.
Also read: Curbing import: BB asks dealers to report 24 hrs before opening LCs
The circular stated, “.....ADS have been permitted temporarily to raise deposits under NFCD accounts without reference to the interest rate mentioned in the BB’s foreign exchange guidelines.”
These relaxations will also be applicable for NFCD accounts to be mentioned by foreign nationals and companies/ firms registered or incorporated abroad, banks, and other financial institutions, including institutional investors, and 100 per cent foreign-owned industrial units in the export processing zones and Economic Zones in the country.
Also read: BB tightens belt on forex reserve, bans import credit on luxury items
MetLife brings all-in-one insurance solution
MetLife Bangladesh has launched a new all-in-one solution which offers life insurance benefits and financial protection for accidents, serious illnesses, hospital admission and disability from a single insurance policy.
Under MetLife Depositor's Protection Scheme (MDPS), customers can receive a wide range of financial protection against many unforeseen events from one dedicated policy. They can also receive investment benefits (tax rebate) and maturity value at the end of the policy tenure.
Read: MetLife launches insurance industry's 1st paperless agent recruitment process
MDPS allows customers to customise their financial benefits according to their needs and plans.
Subject to their preference, they will also be able to enjoy health features of the MetLife 360Health mobile app for free, and up to 40 percent discount on discounts on various medical and diagnostic services from a wide range of hospitals, clinics, and diagnostic centres, according to a media statement.
MetLife Bangladesh Chief Executive Officer Ala Ahmad said: "MDPS has been designed to offer comprehensive financial protection against life's different needs. We believe customers will be able to enjoy a secured, worry-free life with MDPS' all-in-one benefits."
Read Nagad partners with MetLife for employee insurance
US-Bangla Airlines enters 9th year Sunday
Private carrier US-Bangla Airlines will enter the ninth year of providing services on domestic and international routes Sunday.
US-Bangla started its journey on July 17, 2014, by operating flights on Dhaka-Jashore with two Dash 8-Q400 aircraft and soon started running flights to all operational airports within Bangladesh.
The airline now runs flights from Dhaka to Chattogram, Cox's Bazar, Sylhet, Jashore, Syedpur, Barishal, and Rajshahi.
US-Bangla started its journey on the international route on May 15, 2016, with the Dhaka-Kathmandu flight.
The carrier now operates international flights from Dhaka to Kolkata, Chennai, Male, Muscat, Doha, Dubai, Sharjah, Kuala Lumpur, Singapore, Bangkok and Guangzhou.
The airline plans to operate flights to more international destinations, including Jeddah, Riyadh, Dammam, Medina, Abu Dhabi and Delhi soon.
US-Bangla also wants to run flights to new destinations, including London, Rome, and Amsterdam by 2023 and to New York and Toronto by 2025.
The airline owns 16 aircraft, including six Boeing 737-800s, seven ATR 72-600s and three Dash 8-Q400s.
The private carrier now has about 1,800 employees at home and abroad.
Read: US-Bangla Airlines adds another brand new aircraft to its fleet
Also, US-Bangla is providing several special services such as luggage delivery within 15 minutes of the landing of international flights and a 20 percent discount for senior citizens.
The airline not only transports passengers but also cargo to various domestic and international destinations.
"In today's world, there is no substitute for brand new aircraft to provide proper service. US-Bangla is constantly adding new aircraft to its fleet to ensure comfortable service for passengers," US-Bangla Managing Director Mohammed Abdullah Al-Mamun said.
CAB urges govt to readjust edible oil prices
Consumers Association of Bangladesh (CAB) has urged the government to readjust edible oil prices in the country following their continuous downward trend in the international market.
SM Nazer Hossain, Vice-President of the CAB central committee made the call through a statement on Saturday.
In the statement, Nazer said Bangladesh Trade and Tariff Commission (BTTC) should readjust the prices of edible oil as the price of this daily essential is decreasing regularly in the international market.
He also blamed the BTTC for its reluctance every time for the edible oil price adjustment.
Alleging that BTTC only works for the interest of the businessmen, the CAAB vice president said, when prices of edible oil go up in the international market, BTTC raises the price in the local market. But when, price decreases in the international market, it does not show interest to readjust the prices.
The statement said the prices of edible oil went ups and down five times from October last year to June this year, while Bangladesh has hiked the oil price in three phases.
Read: Edible oil prices to come down soon: Commerce Secretary
On May 5, 2022, the government approved a fresh hike in the prices of soybean and palm oil by Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association on grounds of an increase in the global market.
BVOVMA fixed bottled soybean oil at Tk 198 per litre while loose soybean oil at Tk 180 per litre.
It means bottled soybean oil price increases by Tk 38 per litre and loose soybean oil price up by Tk 44 per litre.