Daily Entrepreneurship- Bangladesh (27 March 2019)

MFS market to heat up as PM opens Nagad

Prime Minister Sheikh Hasina yesterday inaugurated digital financial service provider Nagad, a product developed by Bangladesh Post Office with a private company in a bid to deepen financial inclusion in the most rural corners of the country.

“Currently, 66 percent of the population are unbanked and our target is to bring them under the cashless net,” said Mohammad Solaiman, head of corporate and regulatory affairs of Nagad

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Global investors now seek BGMEA support

A coalition of 190 global investors has urged the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to negotiate with the government for the extension of the Accord in the country.

The Interfaith Center on Corporate Responsibility (ICCR), based in New York, sent a letter to BGMEA President Siddiqur Rahman this week, seeking his support so that the Accord can operate until the Remediation Coordination Council (RCC) takes over the charge of inspection and remediation of garment factories.

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VAT management software eases payment dilemma

Imtiaz Ahmed, a regular payer of value added tax (VAT) on purchases of raw materials and sales of products, complains that before using the VAT management software, paying the tax was a mere hassle.

Echoing him, another entrepreneur, Uttam Kumar Paul, managing director of Best Business Bond Ltd (3BL), says: “Previously, VAT used to be paid at three stages — while importing goods, during unloading at port, and lastly, when the product is sold at the wholesale or retail level.”

But this hassle has been fully addressed by the VAT management software, approved by the National Board of Revenue (NBR).

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3rd Nepal-Bangladesh Business Forum begins Thursday

The third edition of the Nepal-Bangladesh Business Forum (NBBF) is set to begin in Kathmandu on Thursday.

The NBBF aims at promoting and strengthening bilateral cooperation between Nepal and Bangladesh, two members of the South Asian Association for Regional Cooperation (Saarc).

This year’s forum is jointly organized by Kathmandu-based think tank Asian Institute of Diplomacy and International Affairs (AIDIA) and the Bangladesh Embassy in Nepal’s capital.

The theme for this year’s NBBF is “Navigating the Next Phase of Socioeconomic Cooperation.”

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