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‘Illegal use’ of mobile banking cuts Bangladesh’s remittance flow

The key drivers of Bangladesh’s economy, remittances, have fallen significantly during the current fiscal year thanks to ‘illegal transfer of money’ through mobile banking. In the last 10 months of this fiscal year, 16 per cent of the remittances have decreased. ‘Illegal’ money transfer, dubbed as digital hundi’ by the bankers, has become popular among […]

Over the last year or so the executive and the legislative arms of the State appear to have geared up their disparagement of the higher judiciary. On several occasions the Chief Justice (CJ) has shared his anguish, among other issues, over separation of powers and independence of judiciary, the laxity of lawmakers in framing laws […]

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Rainfall reason for spike in prices of vegetables; cause unknown for other items Rising prices of some essentials, including rice, sugar and vegetables, are hitting consumers hard, especially those in low and fixed income groups. Most of the vegetables have seen their prices go up by Tk 5-15 a kilogram in city markets over the […]

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Fatenur Begum, who went to Saudi Arabia in search of a better life, now finds life unbearable, being tortured and abused by her employer. Making a journey from the remote village of Ghoper Danga at Tungipara in Gopalganj, she went to the oil-rich kingdom as a housemaid in early January this year. But, distraught and […]

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The cabinet on Monday approved the draft ‘Bank Company (Amendment) Bill, 2017’which will allow four members of a family to be the directors of a bank. The existing law permits only two members of a family to be the directors of a bank. The cabinet gave the approval at its weekly meeting held at the […]

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Obaidul Quader. — Focusbangla file photo Road transport and bridges minister Obaidul Quader hinted on Monday that the cabinet might be reshuffled anytime. The minister came up with the hint after coming out from cabinet meeting at Bangladesh Secretariat in the city. When asked about the prospective time, Obaidul said it is only under the […]

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The Appellate Division of the Supreme Court has halted the bail order of ruling Awami League MP Amanur Rahman Khan Rana for four months in Tangail’s Faruk Ahmed murder case. An SC bench led by the chief justice Surendra Kumar Sinha withheld the High Court order that had granted bail to the Awami League leader […]

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Interest-ingly, “interesting” is an English expression, which may hide one’s actual opinion about something one considers “interesting”. What I read in Bangladesh media recently is very “interesting” to me. Stories range from the absurd, bizarre, entertaining, frightful, to the very sickening. Let’s start with some “interesting” media reports on money laundering from Bangladesh. The Jugantor […]

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A security guard stands guard outside a branch of Rizal Commercial Banking Corporation (RCBC) in Paranaque city, Metro Manila, Philippines August 2, 2016Reuters The Philippines finance minister said their government will enact new laws to facilitate the return of $65m of the money stolen from Bangladesh Bank. Philippines Finance Minister Carlos Dominguez says the remainder […]

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The government has currently no plan to slash down the prices of fuel oil, state minister for power, energy and mineral resources Nasrul Hamid told parliament on Sunday. The disclose came in response to question from independent MP Md. Rustum Ali Faraji during a question-and-answer session in parliament. Faraji asked the minister whether the government […]

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Qatar keen to recruit skilled Bangladeshi manpower Qatar expresses willingness to recruit professionals like physicians, engineers, IT experts, bankers and management specialists alongside semi-skilled and un-skilled workers from Bangladesh. Star file photo Qatar Prime Minister Sheikh Abdullah Bin Nasser Bin Khalifa Al Thani has lauded the honest and hardworking Bangladeshi workers now numbering 3,80,000 for […]

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The $28 billion clothing industry contributes about 82% to the overall export earnings of the countryDhaka Tribune In July-April of Fiscal Year 2016-17, Bangladesh earned $28.72 billion, which is 3.92% higher compared to $27.63 billion a year ago Despite having a double-digit export target, Bangladesh’s export earnings have risen by nearly 4% in July-April period […]

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