Dhaka, Sept 17 (UNB) - Finance Minister AHM Mustafa Kamal on Tuesday said punitive actions will be taken against anyone involved in defaulting loans.
“The amount of defaulted loan has increased due to legal loopholes. It won’t increase any more. Action will be taken against anyone involved in loan default,” he said.
Mustafa Kamal said the amount of defaulted loan will not increase if punitive actions are taken.
He was briefing the media after a meeting with chairmen and managing directors of state-run banks – Sonali, Agrani, Janata and Rupali – at the NEC conference room in the city.
Mustafa Kamal said they adopted a work plan to boost revenue profit because these four banks play important roles in the economy.
The minister said the government will formulate a new law, if necessary, to get rid of default loans.
“Bank branches will be shifted from areas that have multiple branches. We want a healthy competition among the banks. We’ll sit with them every three months to assess the situation,” he said.
The minister said they are liable to the people and vowed to bring back transparency and accountability in the banking sector.
He noted that the current procedure for appointing managing directors ensures that no disqualified persons are appointed.
“We’re identifying and plugging the loopholes,” the minister said. “We’ll form a bank commission, if necessary, to improve the sector.”
Dhaka, Sept 16 (UNB) - Industries Minister Nurul Majid Mahmud Humayun on Monday said strategically important Payra seaport will make Bangladesh a major regional trade hub.
He made the remarks while addressing a programme at a city hotel in the evening.
The minister said China continues to provide invaluable support to Bangladesh’s economic development through technical and financial assistance in diverse sectors.
"Currently, our bilateral relations in terms of trade and investment are so strong that it has surpassed all the previous records," he said terming China one of the major development partners of Bangladesh.
He said China is now the largest source of import for Bangladesh and Bangladesh is now China’s third largest export destination in South Asia.
The bilateral trade between Bangladesh and China, which amounted to $12.4 billion in 2017-2018, is expected to reach $18 billion by 2021, Humayun said.
He mentioned that China's USD 38 billion investment in Bangladesh, in combination with USD 24.45 billion in bilateral assistance for infrastructure projects and USD 13.6 billion in joint ventures, has created a new era of strategic partnership between the two countries.
Textiles and Jute Minister Golam Dastagir Gazi, NBR Chairman Md Mosharraf Hossain Bhuiyan, and Economic and Commercial Counselor, Embassy of the People’s Republic of China in Bangladesh Liu Zhenhua also spoke at the function with Bangladesh China Chamber of Commerce & Industry (BCCCI) President Gazi Golam Murtoza in the chair.
The industries minister said the current Awami League government under the pragmatic leadership of Prime Minister Sheikh Hasina has taken numerous initiatives to further boost the thriving economy and promote international trade and investment.
“We’re building a deep seaport, assigning new Economic Zones, constructing power plants and rapidly upgrading our infrastructures to facilitate our industries and to attract foreign investors. Our first-ever Nuclear Power Plant at Rooppur is in progress. We’re revamping our highways and the Padma Bridge construction work is near to finish soon,” he said.
Humayun said the consecutive visit of Prime Minister Sheikh Hasina to China in 2010 and 2014 had elevated the relationship to “Closer Comprehensive Partnership of Cooperation”.
He said China's President Xi Jinping's landmark visit to Bangladesh in October, 2016 marked the beginning of a new horizon and a new historical starting point of Bangladesh-China relations.
The minister said the BCCCI has been working proactively for the betterment of bilateral trade and has been providing commendable support to the investors of both the countries.
Dhaka, Sep 14(UNB)- Mohammad Firoz, an expatriate who recently returned from Saudi Arabia, got Tk 10 lakh after purchasing a fridge of Walton brand under the offer ‘Who will be today’s millionaire.’
The lucky man Md Firoz, who has been working as a mechanical engineer in a private farm in Jedda of Saudi Arabia returned to Bangladesh on a vacation of Eid-ul-Azha at Ledua village of Raipur upazila in Laxmipur.
After the purchase, he registered the fridge with its bar code number, along with his name and mobile phone number, under the nationwide ongoing Walton digital campaign season-4.
After a while, he received a message from Walton with the notification of awarding Tk 10 lakh for purchasing refrigerator under the digital campaign’s millionaire offer.
Ariful Ambia, executive director of Walton Group, handed over the money at a programme arranged by Mim Electronics at Raypur Bazar in Laxmipur recently.
Md Firoz said “It’s unbelievable. I’m feeling so much pleasure which can’t be explained. For the first time in my life, I received any prize.”
The award worth of Tk 10 for buying a fridge is undoubtedly an unexpected and a big prize for me. Although I have been working in Soudi Arabia for over the last two decades, I could not even make savings of Tk 10 lakh. I am grateful to Walton.”
Under the offer, more than 20 customers received Tk 10 lakh while a good number of customers got Tk 1 lakh, sure cash vouchers and various sorts of Walton products as free through registering their new refrigerators just after the purchase from any Walton Plaza or distributor outlet.
The offer will be closed on September 30.
Dhaka, Sep 14 (UNB)-Bizli Cables, a local cable manufacturer on Thursday handed over Tk 1,00,000 to the family members of an electrician who died after being electrocuted in Barishal.
ASM Hasan Nasir, Executive Director of Bizli Cables, handed over the money to Arob Ali Dakua and Rozina Akter, father and wife of the deceased Faisal Dakua of Bakergonj upazila in Barishal.
Faisal Dakue, a registered electrician of Bizli Cables died on July after being electrocuted while working in Halta Bandor Bazar.
Hasan Nasir said they have 35,000 registered electricians across the country and they provide them various support including trainings, tours and financial supports.
Mahababul Wahid, General Manager (Marketing), Mostafizur Rahman, General Manager (sales) of Bizli Cables were also present there.
Dhaka, Sept 12 (UNB) - German businessmen are keen to increase their investment in various sectors of Bangladesh including construction, IT, interior design, energy, garments, shipping, tourism and environmental technologies.
This was disclosed at a press briefing of a delegation of 23 CEOs and high-ranking business representatives from Germany at a hotel in Dhaka on Thursday.
The delegation under the banner ‘German Business Mission to Bangladesh’ visited Bangladesh from September 8 -12.
During the press briefing Peter Fahrenholtz, Ambassador of Germany in Dhaka, said that Bangladesh is very dynamic and full of potential. It's economic growth is well.
"There is a huge youth population in Bangladesh so it has a bright future. It's a potential country among Asian countries. Now many foreign countries want to invest in Bangladesh,” Ambassador Fahrenholtz said.
The ambassador said that Bangladesh should improve its ranking in the Ease of Doing Business index, where it last placed at 176th out of 183 countries.
The delegation from Germany was led by Peter Clasen, Managing Partner of Wilhelm G. Clasen, a major jute exporter from Bangladesh.
Clasen said that they prioritized various issues during meeting with different ministries and companies of Bangladesh including Finance, Foreign and Commerce ministries.
"We are happy that our visit has been fruitful. There are many opportunities to invest in Bangladesh," he also said.
He also said that Bangladesh's ceramic and furniture items are excellent. These can be exported by Germans.
Alexis Rawlinson, Managing Director of Field Buzz, said that there are many young people in Bangladesh so they can be utilised in IT sectors.
"We can help to create young population as software engineers," he also said.
Cedric Francois Guillaume Dumont, Managing Director of Bauer Bangladesh; Arne Kuper, deputy head of division of federal ministry for economic affairs and energy; Jan Mortiz, CEO of Julius Hupeden GmbH; Walter W.K.Stock, former chairman of NAVIS AG and Barbara Schmidt-Ajayi, regional Manager South Asia of OAV-German Asia -Pacific Business Association; among others were present there.