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Banks can Declare 30% Dividend at most for its Shareholders
Bangladesh Bank has issued a circular in this connection saying the arrangement guidelines were pronounced to strengthen the capital structure in the financial area considering the continuous Covid-19 circumstance. "The banks will have to follow the regulations while declaring dividend for the investors considering their return and banks' financial capacity," Bangladesh Bank also said in the circular. The central bank's circular said banks can declare 30% dividend at most including 15% cash which can have a base 15 percent o…
Foreign Trip of the Loan Defaulters May Ban
Proposed measures in new passport law Passports of loan defaulters to be seized or revoked Foreign travels to be restricted even if loan default is caused by business failures, losses Proposed amendments to the Bank Company Act, Bankruptcy Act, and Finance Company Act also seek punishment for defaulters Bankers, lawyers, and economists say existing laws are enough to be hard on loan defaulters but those are not properly enforced Loan defaulters, no matter wilful or circumstantial, will have their passports seized or revoked, according to a p…
Job Circular: Management Trainee Recruitment at IPDC Finance Ltd.
IPDC Finance Limited (IPDC) is Bangladesh’s first private sector financial institution established in 1981. Today, IPDC is the fastest growing financial institution with strongest balance sheet, catering to Corporate, SME and Retail market segments. In line with the business expansion plans currently underway, IPDC is seeking recruitment for young and energetic candidates as Management Trainee who can add value to the journey to live unbound. Management Trainee Job Context The Management Trainee program is a challenging opportunity for those …
Wilful Defaulters Cannot be Directors for 5 Years After Clearing Name
The finance ministry has prepared a revised draft of the Bank Company Act, adding a new provision that wilful defaulters cannot be directors of any bank or non-bank financial institution for a maximum of five years after they are exempted from loan default. The previous draft mentioned a ban on such defaulters from traveling abroad in business class. This time, it has been made stricter. According to the revised draft, wilful defaulters will not be allowed to travel abroad at all. Also, the ban on them from registering their homes, cars, and …
BB Issued Circular Regarding Not to Enhance Moratorium Due to Covid
The loan moratorium facility to cushion the Covid-19 fallout ended on 1 January this year, resuming the classification of loans. The central bank's Banking Regulation and Policy Department (BRPD) issued a circular during this regard Sunday. Due to the pandemic, borrowers didn't need to repay loan installments from January to December 2020, and loan classification was paused. Though the moratorium has ended, the Bangladesh Bank has relaxed the repayment of term loans. Borrowers for term loans will get 50% extra time to repay the install…