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Messages - Rozina Akter

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Business Administration / Credit flow under BB refinance
« on: May 27, 2013, 04:36:02 PM »

Credit flow under BB refinance scheme gains momentum
Rezaul Karim ( published on 27th May,2013, Financial Express)

Disbursements of funds for financing projects in some areas of renewable energy, with the support of the refinancing facility of the Bangladesh Bank (BB), witnessed a satisfactory level of increase since its inception, thanks to initiatives taken by the country's central bank in tandem with those of a number of its scheduled banks, sources said.

Under the facility or scheme, funds were disbursed at a faster pace for projects to generate biogas and install solar photo-voltaic (PV) module assembling plants, Hybrid Hoffman Kilns (HHKs) and effluent treatment plants (ETPs), the sources added.

According to the latest available data, the Bangladesh Bank (BB) provided funding support to the tune of Tk 853.54 million until December 2012 compared to Tk 251.23 million (25.123 crore) at December-end in 2011, to the scheduled banks under its refinancing scheme.

This made it possible for the banks to disburse more credits to their clients operating in relevant areas of renewable energy. Of the aggregate credit flow, an amount of Tk 23.90 million was disbursed for the purpose of solar irrigation, Tk 102.84 million for installation of solar home systems, Tk 262.70 million for biogas generation, Tk 90.40

million for setting up ETPs, Tk 124.80 million for HHK and Tk 248.80 million for solar PV module assembling plants, the BB statistics showed.

The disbursements for the purposes of solar irrigation and installation of solar home systems was, however, markedly slower than what was earlier expected because of lack of awareness of the people about green banking across the county, officials said.

The BB launched the Green Banking Refinance Scheme involving Tk 2.0 billion on August 03, 2009 to provide funds as credits by banks to the renewable energy projects in the country against the backdrop of chronic power outages around that time.

Under the special scheme, banks and financial institutions get the support under the central bank's refinancing scheme at a 5.0 rate of interest.

"The people are not aware of our refinancing facility. They even do not know about, from where the credits for related projects are available. This is the main cause for the low level of fund disbursement in this particular area. But disbursements of credits for the purposes of biogas generation and installation of solar PV module assembling plants and HHKs are increasing faster than those in other areas," a high BB official told the FE.

The scheme was undertaken in line with the government's plan to meet 5.0 per cent of the total demand for electricity from green energy by 2015 and 10 per cent by 2020.

The BB officials said the central bank in May last year increased the lending rate on credits under the green banking projects. It was done to encourage and facilitate the commercial banks to step up further their credit disbursement operations relating to such loans.

The BB allowed the raising of the lending rate on loans for biogas and cattle-rearing to 11 per cent from the earlier level of 10 per cent.

Business & Entrepreneurship / CSR in RMG
« on: May 27, 2013, 04:15:53 PM »
The United States has asked Bangladesh to introduce Corporate Social Responsibility (CSR) in the readymade garment (RMG) industry and sign the Trade and Investment Cooperation Framework Agreement (TICFA) to have better industrial and business environment in the country.On the other hand, Dhaka has sought duty and quota-free market access for its apparels in the US market.

The proposals and demands were tabled on the first day of the second Bangladesh-US Partnership Dialogue, held at the Ministry of Foreign Affairs. The Dialogue will conclude today (Monday) with a joint briefing, meeting sources said.

US Under Secretary for Political Affairs Wendy Sherman led the US delegation while Foreign Secretary M Shahidul Haque the home side to the dialogue.

Three sessions were held under the platform of the Partnership Dialogue. These focused trade and

investment, security cooperation and development and governance.

Other issues like labour standards compliance, labour law reform and Bangladesh-US cooperation in energy sector were discussed at the meeting.

Higher studies in the US, women's empowerment, non-traditional security issues, including food security, healthcare, climate change, maritime cooperation and migration were also discussed at the meeting.

"The discussion also highlighted counter-terrorism cooperation, security assistance, cooperation in the United Nations peacekeeping operations and humanitarian assistance," a Foreign Ministry official said.

The ongoing political turmoil affecting business and economy and the next poll-time government are likely to figure prominently on the concluding day of the dialogue, he added.

The 'US-Bangladesh Partnership Dialogue' in Dhaka is the second of its kind that is taking place after the first dialogue held in Washington in September last year.

The Partnership Dialogue was established under an agreement signed by the two countries in May last year. It is intended to institutionalise the ongoing partnership in a broader perspective covering trade, development, counter-terrorism and security aspects.

"The US side stressed the importance of introducing CSR in the clothing factory, trade unions and enforcement of compliance in all garment factories in the country," the senior Foreign Ministry official, who attended the meeting, told the FE.

"We assured the US that Dhaka is serious about establishing proper and globally accepted labour standards in the clothing industry."

Business & Entrepreneurship / Re: Reducing Bank Profit
« on: May 27, 2013, 04:05:45 PM »
Thank you for this resourceful post..... :)

Business & Entrepreneurship / Zero coupon bond
« on: May 27, 2013, 04:03:22 PM »
Zero Coupon Bond is a money market instrument. So if the key players (banks, insurance companies and financial institutions) in the money market can enjoy such a tax exemption facility on the income from Zero Coupon Bonds, the Zero Coupon Bond will be more popular and widely used as a source of funding.

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