Business
Delta Brac Housing Finance Corp. Ltd renamed as DBH Finance PLC
Housing finance company Delta Brac Housing Finance Corp. Ltd. has recently changed its name to DBH Finance PLC.
Managing Director and CEO of the company Nasimul Baten said the new name will give more recognition among the existing and prospective clients due to the Brand equity of DBH.
Besides, the new name will be more aligned to the future business plans of the company, he said.
Read:IBBL pays homage to Bangabandhu
In April, 2022 the shareholders gave their consent to change the name of the company in a special meeting. Recently Bangladesh Bank gave their approval for this by issuing a circular.
Since inception, DBH is continually working towards increasing home ownership in the country. Currently it has 13 branches in Dhaka, Chattogram, Sylhet, Cumilla, Gazipur, Narayanganj, Khulna, Rajshahi and it has disbursed in excess of Tk 13,500 crore to more than 52,000 families.
DBH is the only financial institution of the country to obtain highest credit rating AAA for 17 consecutive years.
Read Delta Brac Housing opens its 13 th branch in Rajshahi
'91% SMEs don't get bank loans'
The commercial banks are reluctant to provide loans to small and medium enterprises (SMEs) although the sector is the backbone of the country's economy, the experts said Sunday.
"Commercial banks provide only 18 percent of their total disbursed loans to the country's SME sector, which was given to only 9 percent of SMEs. The remaining 91 percent of SMEs are deprived of banks' loan assistance," FBCCI's Panel Advisor and CPD Research Director Dr Khondaker Golam Moazzem said.
The loans against SMEs as a proportion of total bank lending have declined over the past few years, which is risky for the country's sustainable development, he added.
Moazzem was speaking at the seminar "Bangabandhu's thoughts over SME development and the current context" in Dhaka.
According to the World Bank, the country's SME loan potential market is Tk26,600 crore.
"But the SME sector is neglected in the bank's credit structure. So, the banks are not paying attention to this highly profitable sector," Moazzem said.
Evaly files application to restart business
Former chair of ecommerce platform Evaly Shamima Nasrim Wednesday appealed to a board formed by the High Court asking to be allowed to resume their business.
Shamima said they had found investors and wanted to run the company on their own. And she promised to pay back the money Evaly owes its customers and vendors after reviving its business.
The former Evaly chair also sought the court's permission to include herself, her mother and brother-in-law on the board of directors.
For Shamima, Lawyer Ahsanul Karim filed an application to the High Court bench of Justice Muhammad Khurshid Alam Sarkar.
Read: BB to probe Evaly financial transactions, e-commerce activities
The bench is likely to hold a hearing on the application Sunday, Ahsanul said.
Another application was also filed, seeking directives for not harassing Shamima and Mohammad Rassel, former managing director and chief executive officer of Evaly, by filling a new case, he added.
On September 16 last year, Rapid Action Battalion arrested Rassel and his wife Shamima during a drive at their residence in Dhaka's Mohammadpur in an embezzlement case filed with Gulshan Police.
Six days later, the High Court put a moratorium on the sale or transfer of all movable and immovable properties of Evaly following an application filed by a customer.
On 18 October 2021, the court formed a five-member board to manage, control, and assess the liabilities of the e-commerce platform.
On April 22, Shamima was released on bail from Kashimpur Women's Central Jail in Gazipur.
Nagad's made unique progress: CTTC chief
Mobile financial services (MFS) provider Nagad has made significant progress within a short time since its commencement in 2019, Md Asaduzzaman, additional commissioner of Dhaka Metropolitan Police (DMP), said Saturday.
The progress made by the MFS is unique, Asaduzzaman, also chief of the Counter Terrorism and Transnational Crime Unit (CTTC), added.
About the prevention of digital fraud, Asaduzzaman said, "As digitalisation expands, scammers gain strength. However, the CTTC is strengthening itself. The fraudsters will not escape the vigilance of our expert officers. We have been consistently clamping down on such individuals and want support from Nagad in this regard."
Niaz Morshed Elite, executive director of Nagad, said: "Around 65 percent of Bangladeshis were previously excluded from financial services. Since the inception of Nagad, the rate has been reduced to 50 percent."
Read: Technical, madrasa students to get stipends through Nagad
Grameenphone, Banglalink main competitors in service quality, capabilities: Opensignal
Grameenphone and Banglalink are the two main competitors in Bangladesh's mobile phone service sector when it comes to quality and capabilities, according to a report by Opensignal.
Opensignal, a company that monitors and analyses the overall performance of mobile services, has published the "Network Experience Report" on the mobile sector in Bangladesh considering the data from April 1 to June 29 this year.
The company categorised the different aspects of mobile services of Banglalink, Grameenphone, Robi and Teletalk into 10 metrics under three categories – overall experience, coverage, and consistency.
Bangladesh ahead of other nations in reining in inflation: AL
Amid discussions about a Sri Lanka-type abyss in Bangladesh, the Awami League (AL) has come up with a comparative analysis of inflation in different countries, showing how it managed to deal with it in the wake of the ongoing Russia-Ukraine war.
The party's official Facebook page mentioned that the inflation in the US has soared to 9.1 percent, compared to 7.56 percent in Bangladesh as of June. Turkey's inflation has reached a record high, 78.6 percent.
About the austerity measures of the government, the AL said: "A look at the rising prices in different economies would reveal Bangladesh is not isolated as bigger countries are reeling from bigger shocks."
"As the world is still reeling from the Coronavirus pandemic, it has faced another potential disaster, the Russia-Ukraine conflict. Sanctions and counter-sanctions left the world economy in a daze," the AL said.
"Looking at the inflation scenario across different countries in the world, the crisis around the planet can be readily figured out. Still, some people in the country try to portray the problem of inflation solely belonging to Bangladesh."
Read: Inflation hits record 8.9% in euro area, but economy grows
FBCCI delegation leaves for 2nd North East India Buyer-Seller Meet
A high-level business delegation led by the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) left Dhaka to join the 2nd North East India Buyer-Seller Meet in India to boost trade with neighbouring countries.
FBCCI Vice-President Md Amin Helaly is leading the delegation. It will join different events to enhance business and trade in Thailand, Laos, Bhutan and Bangladesh.
Read: FBCCI keen to enhance trade ties with Brazil; two MoUs sign
The delegation will attend the inauguration of the Buyer-Seller Meet Thursday. FBCCI President Md Jashim Uddin will join it online as a special guest.
The business delegation is also scheduled to have a meeting with the Confederation of Indian Industries.
FBCCI directors Bijoy Kumar Kejriwal, Abu Motaleb, Md Nizam Uddin, Tahmin Ahmed and other sectoral leaders are also part of the team.
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.
Grameenphone helps 11,000 mango farmers, entrepreneurs understand online business better
Telecom operator Grameenphone recently organised an F-commerce event for Kansat Aam Aroddar Shomobay Shomiti at Shibganj, Chapainawabganj.
The activity was simultaneously organised at Baneshwar in Rajshahi and Rangpur.
The nine-day campaign helped about 11,000 mango farmers and entrepreneurs to gain a better understanding of how to operate their businesses online.
Read: Grameenphone, NEG sign MoU on Philip Kotler's book
The primary market of mangoes in Bangladesh lies in the north of Rajshahi. Over the past few years, mango businesses for farmers in the north have been thriving over the digital sphere.
To help the community of mango farmers and businessmen reach greater heights, Grameenphone is empowering the mango farmers from the northern zone, enabling them to sell mangoes using F-commerce and optimum digital integration.
Sajjad Hasib, CMO of Grameenphone, said: "Now online marketplaces are minimising the middleman and maximising profit for the mango growers' communities at the grassroots level."
Read GP, Bangladesh Red Crescent Society distribute relief among flood-hit people
Redwanur Rahman Moon, an F-commerce mango seller from Rajshahi, said: "People from all over the country stay eager to order mangoes for themselves and their families during this season. Despite huge demand, we struggle with many technical problems that bar our business from expanding to the level we wish to go. We are thankful to Grameenphone for equipping us with digital skills."
Bhomra land port resumes operation after Eid holidays
Trade through Bhomra land port in Satkhira resumed on Wednesday after five day of Eid holidays.
Import and export between India and Bangladesh remained suspended from July 8-12 through Bhomra land port on the occasion of Eid. But movement of people through the border was open.
Read: Trade through Bhomra port resumes as lockdown lifted
Bhomra land port Customs Clearing & Forwarding (C & F) Agents Association general secretary SM Maksud Khan said the decision to suspend import and export between the two neighbouring countries was made after consultation with India's Guzadanga C & F Agents Cargo Association.
Bhomra land port assistant customs commissioner Amir Mamun said around 300-350 goods laden trucks entered the port through India's Guzadanga land port.
The government earns more than Tk 2 crore daily from this land port, said the customs official.