Buiness news Bangladesh,30-Day Bangladesh Bank Bills auction result

30-Day Bangladesh Bank Bills auction result:
Auction of 30-Day Bangladesh Bank Bill was held on Monday, in which 2 bids amounting total of BDT 4.50 billion were offered. Of those, 1 bid amounting to BDT 1.50 billion was accepted.

Buiness news Bangladesh

LCs for imports go up over 13 per cent:

 

Opening of letters of credit (LCs) for imports increased by 13.29 percent during the first 24 days of July compared to that of the corresponding period of the previous year.

“The overall trend of opening LCs for imports, particularly food grains, will continue till September, 2008 due to the month of Ramadan,” a senior official of Bangladesh Bank (BB), the country’s central bank, told AHN in Dhaka on Sunday.

He also said a large quantity of essential commodities, particularly wheat, pulses, onion, milk food and edible oils, will be imported normally to meet the growing demand from the consumers during the month of Ramadan, a holy month for the Muslims around the world, he added.

Import LCs worth US$ 1.581 billion were opened during the period against LCs worth $1.396 billion of the corresponding period of last year, according to the central bank statistics.

LCs, opened for import of some essential items including sugar and onion, rose during the period while those on rice, wheat, milk food, edible oils and pulses marked a fall, the BB’s data showed.

Business News bangladesh,ADB approves $266 million loan to facilitate Bangladesh gas supply

Manila, Philippines (BBN)- The Asian Development Bank (ADB) is extending loans totaling $266 million to facilitate Bangladesh natural gas supply in a bid to spur economic growth and cut poverty.

The ADB board of directors on Friday approved a $261 million loan from its ordinary capital resources and a further $5 million from its concessional fund for the Bangladesh Natural Gas Access Improvement Project.

“The funds will be used to build new gas transmission and distribution pipelines to meet growing demand, and to expand coverage to less developed areas in the southwest,” the ADB said, adding that the project will install compressors and metering systems to boost reliability, improve safety, and strengthen the management of gas supply and demand.

Around 200,000 new households in the southwest, along with 1,400 industrial and commercial establishments, will receive gas as a result of the expanded distribution network.

“This will boost business, generate jobs, and improve the health of vulnerable groups, such as women and the poor, who are currently exposed to harmful air pollution from burning wood and other biomass fuels indoors,” the ADB noted.

ADB’s loan, from its ordinary capital resources, has a 25-year term, including a grace period of five years, and interest determined in accordance with its LIBOR-based lending facility.

The Asian Development Fund loan has a 32-year tenor, including a grace period of 8 years, with interest set at 1 percent during the grace period and 1.5 percent for the rest of the term, according to the announcement.

The state-owned Petrobangla, Gas Transmission Company Ltd, Bangladesh Gas Fields Company Ltd, Sundarban Distribution Company Ltd, and Titas Gas Transmission and Distribution Company Ltd. are the executing agencies for the project, which is due for completion in March 2015

Business news Central bank unveils first SME policy for achieving inclusive growth

Cox’s Bazar, Bangladesh (BBN)- Bangladesh Bank (BB) has unveiled, for the first time, a small and medium enterprise (SME) credit policy and programs targeted at achieving inclusive economic growth.

BB Governor Atiur Rahman announced the policy at a discussion with chief executive officers and managing directors of the commercial banks held at Seagul Hotel in Cox’s Bazar on Thursday night with BB Deputy Governor Murshid Kuli Khan in the chair.

The new policy has focused on encouraging more women entrepreneurs in business and investment across the country.

"All banks will have to come forward to provide loans to district level borrowers and women must get priority," the central bank chief said while releasing the policy.

Under the programmers, banks and non-banking financial institutions (NBFIs) will disburse around BDT 240 billion to more than 60 SME sectors such as light engineering, handicraft, flower, fish processing, handloom, rice-mill, bio-gas and compost fertilizer during the ongoing calendar year.

The central bank will set up a three-tier monitoring system to ensure growth of the SME sector in the South Asian country.

Under the monitoring system, the BB headquarters, its nine branch offices across the country and head offices of all commercial banks will review the implementation of SME credit programs regularly.

Business news China raised banks’ reserve requirements

Dhaka, Bangladesh (BBN)- China's central bank surprised markets on Friday by saying it was raising banks' reserve requirements by 50 basis points, effective February 25, the second such increase this year.

The Bank of Japan kept its policy target interest rate on hold at 0.1 percent on Thursday

Business news EBL launches Visa Platinum Credit Card

Dhaka, Bangladesh (BBN)- Eastern Bank Limited (EBL) on Tuesday launched 'Visa Platinum Credit Card'- one of the premium credit cards well suited for international travelers and offered by multinational card processing giant 'Visa', in the Bangladeshi market.

This Visa Platinum card would offer an array of privileges for Bangladeshi travelers while going abroad by providing them a highly convenient mode for overseas transaction- the EBL said on the eve of launching the card in Dhaka.

"We have introduced a series of exclusive credit and debit card facilities in Bangladesh over the last few years", Managing Director of EBL Ali Reza Iftekhar said while formally unveiling the card.

"This Visa Platinum Credit Card is the latest in this range which would greatly facilitate the business transaction and payment for Bangladeshi travelers", he added.

There are approximately 1.5 million cardholders in the Bangladeshi market- significant portions of which are frequent travelers, market operators said.

Economy of Bangladesh

Bangladesh's economy has certainly seen vast improvements in the years following independence in 1971. Agriculture is one of the main sectors in the country's economy and production has been increasing. The government has also made efforts to create an 'investor-friendly' environment so as to attract foreign trade.
Sadly natural disasters have had a negative impact on Bangladesh's economy. Despite this the country is showing greater self-reliance as foreign aid has declined. There has also been great growth in Bangladesh's All-in-all, Bangladesh's economic situation is set to continue improving.

Business news bangladesh City bank introduce debt,equity products in Bangladesh

City bank introduce debt,equity products in Bangladesh: The city bank N.A is working to introduce more debt and  equity products  in the local market shortly,  a senior official said. The  disclosure came after the foreign commercial bank  raised BD Taka 7.7 billion through  amortized local currency  bonds for orascom Telecom Bangladesh  Ltd(OTBL) on a private  placement basis. The OTBL, a subsidiary of Orascom Telecom Holding  S.A.E of Egypt  is the second largest mobile  Telecoms Operator  in Bangladesh. The United states based Citybank N.A Dhaka branch is the sole  mandated lead arranger and placement  agent  in this transaction.This is  the largest bond offering so far in the country the bonds are amortized  over period of 4.5 years. The coupon rate has  been fixed at 13.5 per cent annually. the rang of investor includes bank, no-banking financial institution,general and life insurance  companies funds and corporate house the citybank official added. we remain committed to bringing in more customized solutions for our esteemed clients and have  always  geared  to wards continuous solution building for them the City bank  official told BBN i Dhaka. he also said the Citybank has been working continuously to bring new debt and equity products for  local corporate, mutational corporate and micro finance institution to facilitate their business activities.

Publish Post

Medium Business

SME-Mid segment offers mid and longer term financial solutions to a wide range of clienteles who are in their journey to emerge as promising corporate houses in near future. Our portfolio comprises of various private limited companies, partnership and proprietorship concerns with promising business opportunities. We offer a range of financial services which includes, but not limited to-

Small Business loans - Where and how to get it?

There are times when businesses need capital and small businesses are not external to this. One option they have to raise this is small business loans assisted by SBA. In fact the capital necessities start from the concept stage it self. We will take a walk through all loan options a small business has, procedure and eligibility parameters before discussing loan finalization criteria from the perspective of a lender.

Where are get
*City bank Bangladesh
*Prime bank bangladesh
*Brack Bank Bangladesh
*Shajalal Bank Bangladesh
*Islamic Bank Bangladesh
*IDLC Finance Bangladesh

Home equity loan

Home Equity Loan from HSBC is an opportunity for you to release some of the value tied up with your home. Whether you want to renovate your home or expand your own business, you can potentially receive cash against the equity in your home. Let you home work for you with the world's local bank's Home Equity Loan.

Medical loan

Only HSBC bank Bangladesh , backed by local expertise and global financial knowledge, offers a low cost Medical Loan solution under the My Loan scheme. You can now set your mind at ease by making HSBC a part of your life.

CNG conversion loan

Save the environment as you save money. HSBC bank Bangladesh  offers a low cost CNG conversion loan.

Features

• Competitive interest rates
• Maximum loan tenure 2 years
• No personal guarantee or cash security required
• Loan amount ranging from BDT30,000 to BDT50,000

Wedding loan

Weeding loan  You will be able to take the pleasure of the following benefits by availing this loan.

Features

• No personal guarantee or cash security.
• The loan amount ranges from BDT50,000 to BDT1,000,000 or a maximum of four times of your monthly income, whichever is lower.
• If you are an Auto Pay customer, you can get six times or if you are a CEPS customer you can get ten times of your monthly income.
• Competitive interest rates.
• Low processing fees.
• You can repay the loan in 12, 24, 36 or 48 months.
• Loan against partial security is also available.

  Note this loan available HSBC bank Bangladesh

Furniture loan

Anybody dream luxury Furniture have decorated his house. HSBC bank Bangladesh success have furniture dreamYou will be able to take the pleasure of the following benefits by availing this loan.

Student loan

Whether it is about securing your child's future or you getting a graduate or postgraduate degree or completing a professional degree while you are still working, requires a considerable amount of investment.
Now, with the Student Loan from any Bangladeshi bank, you can make your best investment decision without worrying about your cash flow. 

Professional loan

backed by local expertise and global financial knowledge, offers this low cost solution to our valued customers. You can now set your mind at ease by making a part of your life

features
• No personal guarantee or cash security
• Wide range of loan amounts -
- Minimum: BDT50,000
- Maximum: (Up to a maximum of BDT 1,000,000)
• Competitive interest rates
• Interest is calculated on monthly reducing balance
• Low processing fees
• Flexible repayment schedule of 12, 24, 36 or 48 months
• Loan against partial security is also available

Eligibility
• Age: At least 23 years
• Professional Experience:
- Salaried: Employed for at least two years by a well-reputed company
- Self-employed: Business establishment for at least two years (with adequate proof)
• Minimum Monthly Income:
- Salaried: BDT18,000
- Self Employed: BDT50,000
- Autopay/CEPS: BDT15,000
Requirements
• Documents stated in the Application Form
*All of the above conditions are subject to change
*Other Conditions Apply

Note : This Loan  only HSBC Bank Bangladesh

.

Lifestyle loan

 

Want to buy that new LCD TV or Home Theater? Want to renovate your living room? You can now afford all that with our lifestyle loan. Get our lifestyle loan and make your life exciting and colorful..

Travel loan

Wish you had enough money to take an overseas vacation? Or travel to an exotic place of your choice? Now you can leave behind all your worries and enjoy a perfect vacation with Travel Loan from HSBC. Just provide your travel quotation with us along with your income documents to avail the loan.


Features
• No personal guarantee or cash security
• Wide range of loan amounts -
- Minimum: BDT50,000
- Maximum: (Up to a maximum of BDT 500,000)
• Competitive interest rates
• Interest is calculated on monthly reducing balance
• Low processing fees
• Flexible repayment schedule of 12, 24, 36 or 48 months
• Loan against partial security is also available

Eligibility
• Age: At least 23 years
• Professional Experience:
- Salaried: Employed for at least two years by a well-reputed company
- Self-employed: Business establishment for at least two years (with adequate proof)
• Minimum Monthly Income:
- Salaried: BDT18,000
- Self Employed: BDT50,000
- Autopay/CEPS: BDT15,000

Requirements
• Travel quotation and other documents stated in the Application Form
*All of the above conditions are subject to change
*Other Conditions Apply

Note Only HSBC Bank Bangladesh Give you Travel loan

Home loan Bangladesh

 

A home for you and your loved ones must be one of the most treasured dreams in your life. With competitive rates, convenient features and simple procedures, Home Loan from any Bangladeshi  bank will enable you to turn your dream into reality.

Features

• Loan amount of BDT 750,000 - BDT 7,500,000
• Maximum loan amount of 80% of the property valuation, inclusive of registration cost
• Financing for the registration cost
• Clubbing of income amongst spouse, father and son/daughter, mother and son/daughter is possible
• Competitive interest rates on a monthly reducing balance
• Loan tenure of 5 - 20 years (prior to borrowers age reaching 60 years)
• The age of the property must not exceed 20 years of age
• Apartments under construction is also applicable for Home Loan facility
• As a customer, you also have flexibility to buy apartment under construction subject to the terms and conditions as applied by the Bank
• Partial or early settlement facilities
• No personal guarantee or cash security

Eligibility

• Age: At least 23 years
• Professional Experience:
     - Salaried: Employed for at least 2 years by a well-reputed organization
     - Self employed: Professional experience or business establishment for at least 2 years (with adequate proof)
• Minimum Monthly Income:
     - Salaried: BDT 40,000
     - Self Employed: BDT 50,000

What security documentation do you require?

• Mortgage and original title deed
• Property insurance covering fire, earthquake, flood, and cyclone
• Irrevocable General Power of Attorney (IGPA)

 

Note: here only HSBC bank Bangladesh Information

Car loan bangladesh

So you have Found your Dream Car that you have always wanted.Now comes the difficult part.Arranging for the funding.You approach banks and  financial companies who want guarantees and securities againts loans and you feel your dream slipping away.Now with a car loan  any Bangladesh bank , you can make your dream come true.

Which bank Give  you car loan: Some Bangladeshi bank  give car loan list here:

*HSBC Bank
*Dhaka Bank
*Prime bank
*Islamic Bank


Features:

1-No personal  guarantee or cash security
2-wide range of loan amount
Minimum BDT 2000000
Maximum 75% of brand new car value or 70% of reconditioned car value (up to  a maximum of BDT 2,000000)
3-Competitive  interest rates
4-Interest is calculated on monthly reducing balance
5-Low processing fees
6-Flexible repayment schedule of 12-,24,36,48 or 60 months


Note:this Features only for HSBC bank Bangladesh

Eligibility:

• Age: At least 23 years
• Professional Experience:
     - Salaried: Employed for at least two years by a well-reputed company
     - Self-employed: Business establishment for at least two years (with adequate proof)
• Minimum Monthly Income:
     - Salaried: BDT 20,000
     - Self Employed: BDT 50,000