Daily Banking News Links 15.01.2019
Dhaka Stocks dip but turnover hits 14-month high
Dhaka stocks dropped on Monday after a surge in the previous session as investors went for selling shares to book profits but the turnover at Dhaka Stock Exchange hit a 14-month high.DSEX, the key index of DSE, lost 0.40 percent or 23.98 points, to close at 5,836.23 points on Monday after gaining 62.91 points in the previous session……………
Fintech firms want to shake up banking that worries US Fed
The US Federal Reserve is wary of giving ‘fintech’ firms such as OnDeck Capital Inc or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold.The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) are exploring granting federal bank-like licenses to tech-driven firms that offer financial services, such as money transfers and lending….
ICSB urges commerce minister to incorporate its recommendations on proposed Companies Act
A delegation of ICSB led by its president Mohammad Sanaullah FCS greeting Tipu Munshi, MP, the newly-appointed Commerce Minister on Monday.The Institute of Chartered Secretaries of Bangladesh (ICSB) has urged the Commerce Minister to incorporate ICSB’s recommendations on the proposed Companies Act within shortest period of time…………
BB seeks Tk 8.0b for ESF to fund agro-based projects
The central bank has sought an allocation of Tk 8.0 billion for its ‘Entrepreneurship Support Fund’ (ESF) in the upcoming fiscal year (FY) 2019-20 for financing agro-based projects.Besides, it has projected a requirement of Tk 35 billion for its ESF between 2020-21 and 2023-24.Currently, some Tk 20 billion will be required for smooth operation of the agro-based projects under ESF.”We have requested the finance ministry to allocate Tk 8.0 billion for the agro-based projects in the next fiscal year under ESF,” a Bangladesh Bank official said……….
Dhaka Stocks dip but turnover hits 14-month high Fintech firms want to shake up banking that worries US Fed ICSB urges commerce minister to incorporate its recommendations on proposed Companies Act BB seeks Tk 8.0b for ESF to fund agro-based projects China mum about DFQF facility for BD BB sells over $1.0b to banks in six months Bank's capital shortfall—causes and consequences