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107 tonnes of clothes imported on bonded warehouse facility seized in Ctg
Customs Intelligence and Investigation Directorate seized 107 tonnes of clothes (Polyester Woven Fabrics) imported through Chattogram Port using bonded warehouse facility.
The huge consignment of the clothes was seized from an unauthorised warehouse in Halishahar area of the port city Chattogram on Tuesday when these were being released, Md Bashir Ahmed, additional director of the intelligence unit, confirmed.
One ‘Goldtex Garments Limited’ of Dhaka EPZ imported the consignment worth over Tk 10 crore, he said, adding that they assigned ‘Speedway Logistics’ as C&F agents for delivery of the consignment from the port.
The agents also released these from the port on October 11 and 13 respectively, he said.
The clothes filling five containers were released at the warehouse in Halishahar, though it was supposed to be released at a factory in Savar of Dhaka, he said.
Read: Chattogram Port Customs organises ’ biggest ever’ auction
Tipped off, the customs officials seized the consignment of the imported clothes from the warehouse, the intelligence officer said.
He said there is a provision of delivering the products to the factory directly, but breaching the rule it was delivered at the unauthorized warehouse which is a misuse of the bonded warehouse facility.
A process is underway to file a case against the importer and the C&F agents for dodging duty and money laundering, he added.
‘Marcel to be best brand in Bangladesh’
The distributors of domestic electronics brand Marcel said they are optimistic of becoming the top electronics brand of Bangladesh in future.
They expressed it at the 'Marcel Distributor Summit 2022' with the participation of around 1,000 electronics traders from different parts of the country held at the five-star hotel 'Sea Pearl Beach Resort and Spa' in Cox's Bazar recently.
Company's Vice-Chairman SM Shamsul Alam, Director SM Ashraful Alam, Managing Director and CEO Golam Murshed inaugurated the event.
Among others, Additional Managing Director Abul Bashar Howladar, Deputy Managing Directors Nazrul Islam Sarker, Amdadul Hoque Sarker, Eva Rizwana and Mohammad Humayun Kabir and Plaza Trade's CEO Mohammad Rayhan among others were present at the function.
Addressing the summit, SM Shamsul Alam said, "You (distributors) should not be afraid amid the present global recession. Don't give up. Don't lose faith. The world is constantly changing. So, our business strategy also needs to change with time. And thus, we have to apply modern techniques in business."
Read: Marcel starts 3rd season of its digital campaign
SM Ashraful Alam said, "Marcel is the second largest electronics brand in Bangladesh. And it will be the best brand of the country soon. In this regard we will provide all necessary supports to you (distributors). The domestic electronics market is growing day by day. Why should we give the domestic market share to the foreign brands? We will meet the market demands with our domestically produced goods and will also be the top brand in this market."
In the conference, important discussions about the business strategies in the wake of the ongoing global economic slowdown post-Covid were held. Officials of the organisation provided necessary guidelines to distributors regarding the electronics product business in the changing circumstances.
Mobile internet improves quality of life: Telenor Asia Study
Telenor Asia has conducted a study involving 8,000 mobile internet users across eight markets (Bangladesh, Indonesia, Malaysia, Pakistan, Philippines, Singapore, Thailand, Vietnam) in South and Southeast Asia on the occasion of Telenor’s 25th anniversary in Asia recently.
The first part of the study titled “Digital Lives Decoded” focuses on life and revealed 5 key trends that are working as catalysts for the surge in digital adoption.
Jorgen C. Arentz Rostrup, chairman of Grameenphone and head of Telenor Asia, delivered the keynote at the event organized by GP, to reveal the findings of the study recently.
Rostrup shared the key trends relating to how connectivity is empowering users with more economic opportunity, daily convenience, and greater access to essential services with the present guests.
Read: Mustafa Jabbar directs Grameenphone to ensure quality service
The study revealed a common appreciation for an ‘always-on’ life, with an astounding 91% of Bangladeshi respondents believing that mobile usage improves the quality of life. Overall, women lead this trend, with 63% saying the quality of life is significantly enhanced compared to 52% of men across the region. Whereas in Bangladesh, 59% of women opine in favor of mobile phones improving their lives compared to 50% of men.
Following the keynote speech, a panel discussion was held where panelists--GP CEO Yasir Azman, UNDP’s Bangladesh Deputy Resident Representative Van Nguyen attended the programme moderated by Dr. Asif Naimur Rashid, chief business officer of GP.
Yasir Azman said to live our purpose of empowering societies; the GP has been striving to minimize the digital divide through connectivity since its inception. Today, standing at 25, and aspiring to create impact beyond connectivity for the upcoming years, we reflect back on our journey.
BGMEA leaders, Dickson discuss ways to boost RMG export to UK market
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has discussed possible ways to increase apparel export share in the UK with British High Commissioner to Bangladesh Robert Chatterton Dickson.
Dickson had a courtesy meeting with BGMEA President Faruque Hassan at BGMEA Complex on Tuesday.
BGMEA President hopes for continued support of the British government to RMG sector.
They discussed various trade related issues, including the present situation in the UK market, challenges of the industry and the areas where the sector is focusing on to remain competitiveness in the long term.
Read: BGMEA, Fashion Design Council to promote khadi globally
They also talked about cooperation between the UK and Bangladesh regarding graduation from LDC, possible changes in the tariff regime and how to retain Bangladesh’s export competitiveness and maintain its standing in the global market in the post-LDC era, according to the BGMEA.
BGMEA Vice President Shahidullah Azim, Vice President (Finance) Khandoker Rafiqul Islam, Directors Barrister Shehrin Salam Oishee, Asif Ashraf, Tanvir Ahmed, Abdullah Hil Rakib, Barrister Vidiya Amrit Khan, Director of Sales and Investment at British High Commission Dan Pasha and BTMA Director Md. Mosharaf Hossain were present at the meeting.
Sustainability, innovation top priorities: BGMEA chief
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has said it encourages talented students to come up with enthusiasm and innovative minds to lead the RMG industry to a new high.
As part of it, BGMEA has launched the Sustainable Design and Innovation Award for students and industry professionals to recognize their talent and inspire them to develop sustainable design and innovation in the country's RMG industry.
Fresh graduates from fashion design institutes of major public and private universities along with industry professionals submitted applications to take part in the competition.
BGMEA President Faruque Hassan handed over financial aid of Tk. 10,000 to each of 50 students who have been shortlisted to contest the Sustainable Design and Innovation Award so that they can develop their innovative samples for the competition.
IBBL holds Entrepreneurship Development Workshop
Around 25 promising entrepreneurs from different business sectors were awarded certificates for participating a workshop on Entrepreneurship Development Program of Islami Bank Training and Research Academy (IBTRA) on Tuesday.
The month-long program was organized in collaboration with Bangladesh Bank's SME and Special Programs Department at IBTRA Auditorium.
Md. Jaker Hossain, Director of SME and Special Program Department, Bangladesh Bank addressed as chief guest. Presided over by Muhammad Qaisar Ali, Managing Director (Current Charge) of the bank S.M. Rabiul Hassan, Principal, IBTRA, Md. Nazrul Islam, Additional Director & Mohammad Zahid Iqbal, Joint Director of SME and Special Program Department of Bangladesh Bank, Md. Mahboob Alam, K.M. Munirul Alam Al-Mamoon, Senior Executive Vice Presidents, Mohammad Rokan Uddin & A.K.M Shahidul Hoque Khandaker, Executive Vice Presidents and Abdul Hamid Miah, Senior Vice President of the Bank were also present on the occasion.
Financial literacy: BICM reduces master's program fees by 50%
Bangladesh Institute of Capital Market (BICM) has reduced tuition fees 50 percent for master's programs to encourage financial literacy in youths for sustainable stock market growth in the country.
The country's first and only post-graduate program on Masters of Applied Finance and Capital Markets (MAFCM), conducted by BICM announced this in a press conference, held at its office on Topkhana Road in the capital on Tuesday.
BICM is a state-funded institution affiliated with Dhaka University.
Responding to a query, executive president of BICM Professor Dr Mahmuda Akter said that this initiative has been taken considering the present economic situation and encouraging financial literacy.
“BICM hopes to increase the attention among applicants for this program with a fee waiver. They also hope the youth will be interested in building a career in capital market-related institutions,” she said.
Mahmuda said, "In order to make Bangladesh a developed country, rapid industrialization and large-scale sustainable infrastructure development are needed."
There is no easier way to provide this financing than a dynamic and expanding capital market, this course will help to increase financial literacy, she believes.
The fee per credit of this 51-credit Master's program is Tk4000, on which the 50 percent discount now reduces it to Tk2000. The total program fee is reduced to Tk1.40 lakh from Tk2.5 lakh.
Tk 3,700cr Embezzlement: HC wants to know steps taken against 5 Bangladesh Bank deputy governors
The High Court today asked the Anti-Corruption Commission (ACC) to inform on the steps taken by Bangladesh Bank against its 5 accused deputy governors and other officials involved in the embezzlement of Tk 3,700 crore.
The court asked the ACC to inform on the steps within October 27.
The HC bench of Justice Nazrul Islam Talukder and Khijir Hayat verbally pronounced the order, after taking a recently published report in daily newspaper ‘Kalbela’ into cognizance.
Read: Banks must display citizen charter to ensure transparency: Bangladesh Bank
Lawyer Khurshid Alam Khan represented the ACC during the hearing while Deputy Attorney General AKM Amin Uddin represented the state.
DAG Amin Uddin said the bench asked the lawyers to read the report and present their statements before the hearing began today.
According to the report, 249 officials of Bangladesh Bank, including five deputy governors, were involvement with the financial scam of Bangladesh Industrial Finance Company Ltd (BIFC) and International Leasing and Financial Services Ltd (ILFSL).
With the help of these officials of three departments of the central bank, Prashanta Kumar Halder and Major (retd) Mannan embezzled a hefty amount of money which was revealed in a report of a high-powered probe committee formed at the directive of the High Court.
Two reports in this regard have already been submitted to the central bank’s governor, it said.
Tk 3700 crore was embezzled, taking loans from 2 capital market-enlisted financial organizations: BIFC and ILFSL. Out of this, from ILFSL, Tk 3,130 crore was taken against the name of PK Halder, who is currently imprisoned in India, and his various organizations. From BIFC, Major (retd) Abdul Mannan, Secretary General of Bikalpa Dhara Bangladesh, and his organization embezzled Tk 600 crore.
This plundering was going on for several years but the insiders of these organization and the responsible officials of Bangladesh Bank remained silent about the matter, said the report.
Read:Govt securities to trial trading in secondary market next week: Bangladesh Bank Governor
Three deputy governors, 6 executive directors, 11 general managers (GMs) and 15 deputy general managers (DGMs) and 124 other officials at various levels who served in the Financial Institutions and Markets Department of Bangladesh Bank from 2009 to 2020 were held responsible in the report.
Besides, a total of 51 people including two deputy governors and executive directors of the Bank and Financial Institutions Inspection Department have been held responsible.
Also name of two deputy governors, eight executive directors, five GMs and a total of 29 officials of the financial institution inspection department came up in this report.
BGMEA, Fashion Design Council to promote khadi globally
The Bangladesh Garment Manufacturers and Exporters (BGMEA) and the Fashion Design Council of Bangladesh (FDCB) have agreed to forge a collaboration to promote and develop high-end fashionable garments using home grown fabrics and materials.
FDCB President Maheen Khan and Vice-President Emdad Haque met with BGMEA President Faruque Hassan in Dhaka Monday.
They discussed how the BGMEA and FDCB could work together to present Bangladeshi culture and fashion globally and create a market for the country's products around the world, especially khadi, a hand-spun and woven natural fibre.
They also talked about possible avenues of collaboration to make khadi products globally acceptable in terms of design and quality by bringing diversity in innovative design and fabric development.
Both BGMEA and FDCB associations will join hands to explore the opportunity of exporting products made of khadi, a fabric that illustrates the rich heritage and culture of Bangladesh.
Faruque invited Maheen and Emdad to join the Made in Bangladesh Week which will be organised by BGMEA on 12-18 November 2022 to promote Bangladesh and its apparel industry.
He also invited them to use the weeklong event as an ideal platform to showcase khadi products to the global audience.
BGMEA, Tonello to partner in promoting green technologies
Tonello, a leading garment finishing technology company, will join hands with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to support the RMG industry in adopting innovative technologies and solutions for denim and garment washing, dyeing, and finishing to become more efficient and sustainable.
During her latest mission to Bangladesh, Alice Tonello, Tonello's marketing and R&D director, met with BGMEA President Faruque Hassan to forge an agreement to support the Centre of Innovation, Efficiency and OSH (occupational safety and health) in Dhaka and make Bangladesh market increasingly technologically advanced and efficient in terms of environmental responsibility.
The founder and CEO of the Bangladesh Apparel Exchange and Managing Director of Denim Expert Mostafiz Uddin and Maurizio Morosini, Sales Director at Tonello, were also present at the meeting held at BGMEA Complex on Monday.
The BGMEA President said the RMG industry of Bangladesh is committed to continuing efforts to pursue excellence in the area of sustainability while enhancing competitiveness through capacity building and technology upgradation.
“Tonello has more than 40 years in the business of designing and manufacturing garment finishing technology. It has also been present in Bangladesh for many years and looks forward to building long-term business relations,” BGMEA quoted Alice Tonello as saying.
Faruque Hassan invited Alice Tonello and Maurizio Morosini to the “Made in Bangladesh Week” which will be organized by BGMEA on 12-18 November 2022 to promote Bangladesh and the RMG industry.