Daily Banking News Links 13.01.2019
Auditors need to sit more with banks, FIs’ high-ups
Sabbir Ahmed FCA, Member Council-ICAB and Partner, Hoda Vasi Chowdhury & Co. – Chartered Accountants presenting the keynote paper in a technical conference on ‘Implementation of New Auditor’s Report for Banks and NBFIs: challenges and way forward’ at CA Bhaban on Saturday. The Institute of Chartered Accountants of Bangladesh (ICAB) organised the event (story on page 8)Auditors need to sit with the people involved with governance in banks and other financial institutions (FIs) regularly to overcome challenges for proper implementation of new auditor’s report, experts said on Saturday…..
BAB, ABB hold jt meeting on reducing defaulted loan
Two associations of bank owners and top executives on Saturday held a joint meeting on devising ways to reduce defaulted loans as per their commitments made to new finance minister AHM Mustafa Kamal last week……….
Stocks soar for 4th week as banks, GP surge
Dhaka stocks jumped last week, extending the gaining streak to the fourth consecutive week, amid a strong participation of investors as they continued buying shares, especially from financial scrips and Grameenphone after their year-long losses………..
Zimbabwe plans new currency as dollar shortage bites: fin min
Zimbabwe will introduce a new currency in the next 12 months, the country’s finance minister said, as a shortage of US dollars plunges the financial system into disarray, forcing businesses to close and threatening unrest…….
Tax offices asked not to audit same files frequently
National Board of Revenue has asked field-level tax offices not to audit same income tax files frequently.
It, however, instructed the offices to ensure audit of income tax files of those who never faced audit.
The instructions came at a meeting with all income tax commissioners across the country on progress of income tax collection held on December 23 in NBR………….
IPOs lose lustre for high cost, lengthy process
Fresh pledge to curb NPL
Tough stance against loan defaulters