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DCCI launches PGD courses on business development
Dhaka Chamber of Commerce & Industry (DCCI) has launched Postgraduate Diploma (PGD) courses for businesses in order to have proper knowledge of VAT and Income Tax for achieving long-term success in the competitive global market.
The PGD would cover ‘Customs, VAT and Income Tax Management (CVITM)’ and ‘International Trade (Export & Import) Management (ITM).
DCCI Acting President Arman Haque inaugurated the program as the chief guest.
Also read: DCCI urges NBR to simplify tax policy for business growth
Adequate knowledge about rules and procedures of VAT and Income Tax helps a businessman to run the business professionally, he said.
He also said the world is becoming more connected and competitive than ever. The relation between different countries is getting stronger by the increasing developments in export & import business and technology, he added.
Afsarul Arifeen, DCCI Secretary, Md. Joynal Abdin, Executive Secretary Farheen Hassan, head, department HRM, Course Coordinator Tamanna Sultana, Joint Executive Secretary of DBI, among others, were present at the function.
Also read: DCCI, IBA sign deal for business-oriented research and innovation
BB rejected LOI extension application of Shakib’s People's Bank
Bangladesh Bank has rejected the application seeking time extension to meet the conditions of letter of intent (LOI) issued in favour of proposed People's Bank Limited, which is awaiting final approval.
Star cricketer Shakib Al Hasan wanted to be the entrepreneurial director of the proposed bank.
The decision to reject the application was taken at a board meeting of Bangladesh Bank on Thursday.
Also read: BB likely to approve Shakib’s directorship at People’s Bank on Thursday
Bangladesh Bank spokesman and executive director Md. Serajul Islam confirmed the news to UNB.
He said the LOI of the proposed bank was valid till December 2021 and their application for extension of time has been rejected as they could not meet the conditions within the stipulated time.
People's Bank could not start operations due to lack of arrangement of paid up capital of Tk 500 crore.
Consequently, the bank is not getting the final license of Bangladesh Bank. Bangladesh cricket’s poster boy is going to own two director posts of People's Bank.
According to the rules of Bangladesh Bank, an aspiring director of a bank must hold a minimum of 2 per cent share. So, a minimum capital of Tk 10 crore has to be provided for each post of director for the People’s Bank.
However, it is learned that Shakib is providing more than Tk 25 crore worth of capital to obtain the fractional ownership of 4 per cent or more.
On February 17, 2019, the Bangladesh Bank issued letters of intent (LOI) to three new banks - People’s Bank, Bengal Commercial Bank and Citizen Bank.
Also read: BB formulating new policy to tighten exposure to single owner of large loans
Out of these three, Bengal and Citizen Banks have already started their operations. But People’s Bank failed to meet the regulatory requirements, including paid-up capital and prayed for more time.
CIP cards awarding: Businesses should prepare to compete in post-graduation period-Tipu Munshi
Commerce Minister Tipu Munshi on Thursday urged businesses to prepare to sustain in competition with global entrepreneurs after the country’s graduation to the developing economy.
The minister said this while addressing as the chief guest at the CIP (Export) and CIP (Trade) -2018 card distribution ceremony at a city hotel. The program was organized by the Export promotion Bureau (EPB), a wing of the commerce ministry.
He also emphasized product diversification along with improving high-end and high value products to enhance the country’s export volume at desired level.
The businesses have to be enriched with business-technical knowledge and skilled entrepreneurship handling in line with global markets opportunity.
To encourage businesses the government introduced commercially important person (CIP) status in 2013 for excellent export performance and domestic trade development as an acknowledgement of the contribution of business people.
The CIP honour will encourage businessmen’s new generation to remain in business and create new entrepreneurship, Tipu said.
Read: Increased capacity of Ctg Port to cut cost of doing business: FBCCI
Commerce secretary Tapan Kanti Ghosh presided over the function. FBCCI president Md. Jasim Uddin, vice chairman of EPB AHM Ahsan, ampong others, spoke at the event.
The ministry awarded cards to 176 businessmen as CIP for their extraordinary performance in the country’s trade sector and export business in 2018.
Among them, 138 persons have been nominated by the commerce ministry for CIPs card for excellence in exporting goods and the remaining 38 people’s nominated CIP cards for outstanding contribution in the trade sector of Bangladesh.
They were selected in 20 categories from 250 applications while none was applied from the melamine and furniture sector.
Among the categories 1 CIP card rewarded for raw jute, 3 for jute products, 5- leather goods, 7- frozen food, 23- readymade garments (oven), 6- agriculture good, 4- agro processing, 2- light engineering products, 2-pharmaceutical products, 5- handicraft products, 3-specialized home textile products, 41-readymade garments (net), 2-ceramic products, 2-plastic products, 5- textile (febrics), 2- computer software, 23-measeneous products,2- EPZs’ C category products, 38-business leader (trade).
Commerce ministry to honour 176 businesspeople on Thursday
The ministry of commerce will award commercially important persons (CIP) cards to 176 businesspeople on Thursday for their commendable performance in the country’s trade and export business in 2018.
Among them, 138 persons have been nominated by the commerce ministry for CIPs card for excellence in exporting goods and the remaining 38 persons nominated CIPs card for outstanding contribution in the trade sector of Bangladesh.
Read:Commerce ministry’s wings work to identify syndicates behind price hike
On the occasion the ministry will organize the card awarding ceremony at a local hotel in the capital. Commerce Minister Tipu Munshi will award cards to CIPs as the chief guest while Expatriates' Welfare and Overseas Employment Minister Imran Ahmad will be present as the special guest.
Earlier a special gazette notification was published on December 7, 2021 announcing the names of the CIPs. The notification mentioned that the CIPs would enjoy some privileges from the government for the next one year period or before declaring the names next year CIPs.
Besides, CIPs can use VIP terminal-2 of Hazrat Shahjalal International Airport, the ministry of foreign affairs will issue a letter of introduction to approve visa for travelling abroad. They will be able to use the cards as passes at the entry at the Bangladesh secretariat.
The CIP card holders will enjoy priority in seat reservation at government transports in air, road, rail and waterways and getting invitation at national events.
Read: E-commerce scam: Commerce Ministry seeks information from police
The exporters, who are nominated as CIPs, are Hasan Ahmed, managing director of Popular Jute Exchange Ltd, Sheikh Nasir Uddin, chairman of Akij Jute Mills Ltd, Md Fazlur Rahman, managing director of Rahman Jute Spinners Ltd, Mohammed Anisur Razzaque, chairman of Tropical Shoe Industries Group, Ziaur Rahman, managing director of Bay Footwear Ltd, Md Saiful Islam, managing director of Picard Bangladesh Ltd, Md Nazmul Hassan, managing director of Leatherex Footwear Ltd, Md Hedayetullah, managing director of FB Footwear Ltd, Zainal Abedin Majumder, managing director of Abedin Group, Iqbal Ahmed, managing director of Sea Mark Ltd, Shyamol Das, managing director of MU Sea Foods Ltd, Md Shahin Howlader , chairman of Crimson Rosella Seafood Ltd, SM Mizanur Rahman, managing director of Atlas Sea Foods Ltd, Md Mehedi Hassan, managing director of Bright Sea Foods Group, Md Taauhidur Rahman, managing director of Fresh Foods Ltd, Masud Parvez, managing director of Salam Sea Foods Group, Sharif Zahir, managing director of Ananta Apparels Ltd, Md Ismail Hossain, managing director of Sharmin Apparels, Inamul Haq Khan, managing director of Ananta Garments Ltd, Miran Ali, managing director of Tarashima Apparels, Ahsan Kabir Khan, managing director of Interfab Shirt Manufacturing Ltd, Tanvir Ahmed, director of Cosmopolitan Industries Ltd, Mustajirul Shovon Islam, managing director of Sparrow Apparels Ltd, Abul Kashem, deputy managing director of AKH Fashions Ltd, Md Ali Azim Khan, managing director of Shinest Apparels, Md Refayet Ullah Khan, director of Tusuka Trousers Ltd, Md Khasru Chowdhury, managing director of Nipa Fashion Wear Industry Ltd, Wasim Rahman, managing director of MBM Garments Ltd, Md Siddiqur Rahman, chairman of Bando Design Ltd, Mujibur Rahman, managing director of Smart Jeans Ltd, M Sazzad Alam, managing director of Raquef Apparels, Humayun Rashid, director of Energypac Fashions Ltd, AK Azad, managing director of Ha-Meem Group, Abdus Salam Murshedy, managing director of Envoy Group, Atiqul Islam, director of Islam Group, Lutfe Mawla Ayub, chairman of Rabab Fashion Group, Md Aziul Islam, managing director of Alif Group, Sejuti Daulah, director of Dird Garments Group, Syed Nurul Islam, chairman of Well Group, Mohammad Monsur, managing director of Monsur General Trading, Gobinda Chandra Saha, proprietor of Rajdhani Enterprises, Omar Farooque, proprietor of Alin Foods Trade, Harun Ar Rashid, proprietor of Harun Enterprise, Sheikh Abdul Kader, proprietor of Agriconcern, Md Rafiqul Islam Liton, proprietor of Liton World Link, Enamul Hassan Khan, chairman of Promi Agro Foods Ltd, Anjan Chowdhury, managing director of Square Food and Beverage Ltd, Abdul Motaleb, chairman of Kishwan Snacks Ltd, Ahsan Khan Chowdhury, managing director of Pran Diary Ltd, Mizanur Rahman Bhuiyan, managing director of Uniglory Cycle Industries Limited, Subrata Paul, proprietor of HR International, Samuel S Chowdhury , chairman of Square Pharmaceuticals Limited, Nazmul Ahsan, managing director of Beximco Pharmaceuticals Limited, Shafiqul Alam Selim, managing director of Karupannya Rangpur Ltd, Towhid Bin Abdus Salam, proprietor of Classical Handmade Products BD, Md Belal Hossain, chief executive officer of BD Creation, Bartha Geeti Baroi, director of Corr the Jute Works, Abu Alam Chowdhury, proprietor of Conexpo, Mohammad Abdullah Zaber, director of Zaber and Zubair Fabrics Ltd, Masood Dawood Akbani, managing director of ACS Textiles Ltd, Abdullah Mohammad Talha, director of Noman Terry Towel Mills Ltd, and Jashim Uddin, managing director of Bengal Group, among others.
India seeks FBCCI's cooperation in boosting bilateral trade
Indian High Commissioner to Bangladesh Vikram K Doraiswami has sought the cooperation of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) to enhance bilateral trade between the two neighbours.
Referring to 94 percent trade growth with Bangladesh in last year, he mentioned the country’s (Bangladesh) exports to India is expected to reach USD $2 billion for the first time in the current fiscal year.
Doraiswami came up with remarks while paying a courtesy call on FBCCI President Md. Jashim Uddin at the FBCCI office in Motijheel and set a meeting on trade issues between the two countries.
He said India wants to improve trade and investment relations with Bangladesh in the areas of logistics, food processing, automobiles and garments.
READ: FBCCI calls for making law before formulating new industrial policy
Jashim said development of the logistics sector is the prime agenda of FBCCI. The apex trade body is working to submit a 12-year plan to the government for the development of the logistics.
On India's trade potential with Bangladesh, FBCCI President said India could be a major supplier of yarn and cotton to the garment industry in the near future. Citing some of the Indian companies operating in Bangladesh, he said, they all are doing a great job.
So, the investment of other Indian entrepreneurs in Bangladesh has a huge potential to be profitable, he added.
During the meeting, FBCCI President called for the development of infrastructure in the Indian part of the land ports to boost bilateral trade. He said poor infrastructure hampers bilateral trade as many products cannot be exported from Bangladesh due to lack of facilities at Indian ports.
In response the Indian envoy informed that another new gate would be opened soon at Petrapole land port to facilitate the movement of trucks.
He also assured that development work for other land ports would be undertaken if these ports are permitted to trade more goods.
Doraiswami said his government was keen to facilitate trade between the two countries. So, the issue will get importance in the meeting of the secretary level next February.
READ: Lockdown not a solution: FBCCI President
The ambassador also hoped to launch a CEO's forum between the two countries, the forum of chief executives of top India-Bangladesh companies that could play the most effective role in resolving the issue of bilateral trade.
FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md. Habib Ullah Dawn, directors Rejaul Kariem Rejnu, Bijoy Kumar Kejriwal, Md. Shah Jalal, Mohammed Bazlur Rahman, Dr. Joshodha Jibon Deb Nath, CIP, Priti Chakraborty and Secretary General Mohammad Mahfuzul Hoque, among others, were present at the meeting.
Chevron signs deal with Rock Energy to market its lube products in Bangladesh
Chevron Lubricants Lanka PLC, a part of Chevron Corporation, recently signed an agreement with Rock Energy for marketing its lubricant products in Bangladesh.
Under the deal, Rock Energy was appointed as its sole marketer in the country.
This agreement entrusts Rock Energy with the marketing of Caltex branded lubricants in Bangladesh, including Chevron’s proprietary Havoline and Delo-branded lubricant products, said a release of the US company.
Read Chevron’s Uttoron project launches android-based Bangla app to develop soft skills for job market
Caltex lubricants have been available in Bangladesh since 2006 and the brand enjoys high levels of acceptance and recognition in the automotive and industrial segments of the market.
Consumers in Bangladesh can look forward to sustained supplies and greater availability of Caltex branded lubricants countrywide with this development.
Commenting on the venture, Najam Shamsuddin, Managing Director & CEO of Chevron Lubricants Lanka PLC, said, “We are extremely pleased to be in collaboration with Rock Energy for the distribution of Caltex branded lubricants in Bangladesh”.
Read Chevron concludes community-based Jibika project
Rock Energy is a subsidiary of one of Bangladesh's fastest-growing business conglomerates, with over thirty years of experience in diversified business operations, including their flagship business in the oil and gas sector.
Managing Director of Rock Energy, Tanzeem Chowdhury, shared his views on the partnership with Chevron, “In Bangladesh, the automotive sector has come back to full swing after lockdowns due to the pandemic”.
These thrust sectors, along with the on-going mega infrastructure projects undertaken by the Government of Bangladesh, present fantastic opportunities to supply world class lubricant solutions, he said.
Read Chevron partners with Save the Children to launch integrated support for children with disabilities
An established industry leader, Chevron Lubricants Lanka PLC markets global lubricant brands such as Caltex, Havoline and Delo.
Sales of lubricants into Bangladesh come under the purview of Chevron Lubricants Lanka PLC as an export market. The Company was incorporated in 1992 and is based in Colombo, Sri Lanka.
Chevron is one of the world’s leading integrated energy companies which produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance the business and the industry.
Read Chevron to up gas production by 100 MMCFD from Bibiyana from early April
Banglalink, Teletalk sign MoU on infrastructure sharing
Banglalink and Teletalk have signed a memorandum of understanding (MoU) to explore opportunities to share their respective telecom infrastructures.
Erik Aas, chief executive officer of Banglalink, and Md Shahab Uddin, managing director of Teletalk, signed the agreement in the capital.
Under the agreement, the operators will explore and assess scopes and technical feasibility of sharing their telecom infrastructures and facilities in compliance with the infrastructure sharing guidelines, tower sharing guidelines and all other relevant laws and regulations.
Read:No data charge for e-transactions on Upay app for Banglalink customers
At the signing ceremony, Posts and Telecommunications Minister Mustafa Jabbar said: "Telecom operators need to come up with new collaborative approaches to ensure more enhanced service quality for customers. This kind of initiative has the potentiality to overhaul and advance the industry in the long run."
Erik said: "Banglalink will always seek opportunities to partner with other telecom stakeholders to strengthen the industry's infrastructure, which can lead to a better quality of services and improved cost-efficiency. I would like to thank Teletalk for coming forward in this regard and expect to see this joint initiative bringing positive results in many areas."
Shahab said, "We are delighted to sign this MoU with Banglalink today. It is opening an opportunity for us to maximise the use of our infrastructures collaboratively."
IBBL Business Development Conference begins
The two-day Business Development Conference of Islami Bank Bangladesh Limited (IBBL) began at a city hotel Saturday.
The conference revealed that IBBL achieved the milestone of Tk1,383 billion deposit till December last year. Also, the bank reached a general investment base of Tk1,177 billion.
Professor Md Nazmul Hassan, chairman of the bank, inaugurated the programme as chief guest. Mohammed Monirul Moula, managing director and CEO of the bank, presided over it.
Professor Md Salim Uddin, chairman of the executive committee, Major General (retd) Abdul Matin, chairman of the risk management committee, Mohammad Solaiman, chairman of the audit committee of IBBL, attended the event.
Additional managing directors Muhammad Qaisar Ali delivered the welcome speech, and Md Omar Faruk Khan thanked the audience.
IBBL directors Professor Md Kamal Uddin, Md Joynal Abedin, Professor Qazi Shahidul Alam, Syed Abu Asad, Tanveer Ahmad, Md Quamrul Hasan, Professor Mohammad Saleh Jahur, Professor Md Fashiul Alam, Khurshid-Ul-Alam, Mohammed Nasir Uddin, and Md Kamal Hossain Gazi joined the conference as special guests.
Professor Mohammad Abdus Samad, member secretary of the shari'ah supervisory committee; deputy managing directors, head office executives, head of zones and head of 384 branches of the bank attended the conference through a virtual platform from 11 venues across the country.
eCourier parcels come under insurance coverage
Tech-focused logistics company eCourier and insurance aggregator Carnival Assure have brought parcels under insurance coverage for delivery across the country in pickup service.
Customers can get insurance coverage when booking parcels in the "person to person" category for delivery service, the company said Saturday.
Sena Kalyan Insurance Company will provide the insurance and Carnival Assure aggregates the service.
Read: Bellwether Bangladesh banks on supply chain resilience to beckon businesses
A tri-party agreement was signed recently to develop the innovative service.
Sena Kalyan Insurance Chief Executive Officer Brigadier General Shafique Shamim (retd), Mohiuddin Rasti Morshed, director of Carnival Assure and Dotlines Group, and eCourier Chief Executive Officer Biplob Ghosh Rahul were present.
The insurance coverage will continue till the parcel is delivered from the customer's home to the recipient.
Read: How to Open a Super Shop Business in Bangladesh?
Biplob said: "eCourier is working to bring the best services and logistics solutions to the customers. I hope that the inclusion of insurance will strengthen our position in the market by gaining customers' trust."
IBBL, National Hospital sign MoU
Islami Bank Bangladesh Limited (IBBL) and National Hospital, Chattogram signed a memorandum of understanding (MoU) on corporate facilities recently at the IBBL Chattogram Zone Office.
Under this agreement, IBBL officials, their family members, Debit and Khidmah Credit cardholders will get discounts from National Hospital.
JQM Habibullah, deputy managing director of IBBL, and Dr Mohammad Yousuf, managing director of National Hospital, signed the agreement.
Mohammed Monirul Moula, managing director and CEO of the bank, was present.
Md Nayer Azam, deputy managing director, Mohammed Shabbir, senior executive vice-president; Md Mizanur Rahman Bhuiyan, Meah Md Barkat Ullah, Mohammad Yakub Ali and Miftah Uddin, executive vice-presidents of IBBL, were also there.