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Workers of 122 RMG units not paid Feb wages, no bonus in 723 factories

Business Correspondent

At least 122 ready-made garment (RMG) and textile factories across the country have not yet paid their workers' outstanding wages of February while only 422 factories have paid half of the wages of their workers in advance, according to an industrial police report.According to the industrial police report, 30 factories have outstanding wages for January ...

BB re-fixes MFS transaction limit

Business Correspondent

Bangladesh Bank has re-fixed the mobile financial service (MFS) transaction limit.The payment system department (PSD) of the central bank issued a circular in this regard on Thursday (Mar 27).According to the circular, the central bank set a new daily cash in limit for agent points at Tk 50, 000, instead of Tk 30, 000. The ...

BB simplifies import credit report rules

Business Correspondent

Bangladesh Bank (BB) has amended its guidelines on credit reports for foreign suppliers to streamline the process for import transactions. The change comes through a circular issued on Thursday.The circular states authorized dealers (ADs) will now verify local agents' regularity in repatriating commission income through importer-provided information. For their own customers, ADs will rely on ...

BB scraps LC documents submission rule for land port imports

Business Correspondent

Bangladesh Bank (BB) has scrapped the requirement for Authorized Dealers (ADs) to submit LC documents for imports through land ports. The decision takes immediate effect.Previously, ADs were mandated under paragraph 21(b), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018 to provide copies of LCs, amendments, and related documents to land port authorities. The central ...

Govt to procure LNG, fertiliser, rice thru international bidding

Business Correspondent

The Advisers Council Committee on Government Purchase (ACCGP) held at the Cabinet Division at Secretariat on Thursday approved several proposals for procuring commodities to meet domestic demands.Finance Adviser Salehuddin Ahmed presided over the meeting which approved proposals for procuring two cargos of LNG, 70,000 tonnes of fertiliser and 50,000 tonnes of non-Basmati boiled rice to ...

BB allows startup businesses to invest abroad

Business Correspondent

Bangladesh Bank (BB) has permitted startup businesses to invest overseas to help them explore international markets, according to a circular issued on Thursday.Under the new rules, local startups can remit up to $10,000 (or equivalent foreign currency) to set up a company abroad. The approval falls under the Foreign Exchange Regulation Act, 1947, and resident ...

9,500 tonnes of imported rice arrives at Ctg port

Business Correspondent

A shipment of 9,500 tonnes of parboiled rice from India arrived at Chattogram port this morning.The rice was imported aboard the vessel MV YOUNG SHENG 151 under an international open tender agreement (Package-5), according to a press release from the Ministry of Food.Under the agreement, Bangladesh is importing a total of 450,000 tonnes of rice ...

Tobacco Control Law should be reformed aligning with WHO FCTC

Business Correspondent

According to the World Health Organization,( WHO) tobacco use is the leading cause of preventable death and disease globally, speakers at a discussion said at a meeting titled the role of civil society the implementation of FCTC in the city. Dhaka Ahsania Mission at Shyamoli on Tuesday organized the event in which speakers further said "Tobacco ...

Failure To Pay Workers: 12 RMG factory owners face travel ban

Business Correspondent

The government has imposed travel ban on 12 garments factory owners for not paying the salary and festival bonus to the workers within the set deadline. The owners will not be able to travel abroad until the salaries and bonuses of the workers are paid.Shipping and Labour and Employment Adviser Brig Gen (Retd.) Dr M Sakhawat ...

BB extends deadline for credit bureau license applications

Business Correspondent

The Payment Systems Department (PSD) of Bangladesh Bank has extended the deadline for submitting applications to establish credit bureaus. The original cutoff date of 31 March 2025 has been pushed to 09 April 2025 due to public holidays and weekends between 28 March and 05 April. The decision ensures applicants have adequate time to complete submissions ...