Daily Entrepreneurship- Bangladesh (31 March 2019)

StanChart honours 12 business icons

Standard Chartered yesterday honoured 12 companies for their performance in external trade and felicitated three winners of the most recent national export trophy for their contribution to the country’s export growth.

Introduced last year, the Standard Chartered Bangladesh Trade Awards celebrates the bank’s relationship with clients who have been key enablers in its commitment to support growth of trade and commerce in the country.

Ha-Meem Group, Youngone Corporation, Epic Group, Square Group and Pacific Jeans took home awards in the textile and garment segment.

The other winners are: City Group, Meghna Group of Industries, TK Group, PHP Family, United Group, Unilever Bangladesh and Uttara Group of Industries.

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Women entrepreneurs need easy funds, policy support

Women entrepreneurs have come a long way despite facing social and economic barriers, speakers said yesterday.

Now female entrepreneurs need policy support and more budgetary allocation, which will lead to the development of entrepreneurship in Bangladesh, they said.

The speakers made the comments at the silver jubilee celebration of Women Entrepreneurs’ Association (WEA), Bangladesh’s oldest platform of women in business which was formed in 1993, at Gulshan Club in Dhaka.

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Insurers’ premium income goes up

The insurance sector’s income growth from premium hit an eight-year high last year thanks to heightened efforts by insurers to revive lapsed insurance policies.

The insurance premium is the upfront cost of obtaining insurance coverage over a defined period. It represents both an income and liability for the insurer in that it must provide coverage for claims being made against the policy.

In 2018, the insurance industry’s gross premium income stood at Tk 12,438 crore, up 11.25 percent year-on-year, according to data from the Insurance Development and Regulatory Authority (IDRA).

The last time a higher premium income growth was seen was back in 2010: of 18.59 percent. After that, it stayed within single digits.

“Gross premium growth increased as insurers put in effort in reviving lapsed insurance policies,” said Gokul Chand Das, member of IDRA.

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WB approves $100m in loans for Dhaka urban project

The World Bank has approved $100.5 million to improve public spaces and urban services in four neighbourhoods under the Dhaka South City Corporation (DSCC).

The Dhaka City Neighborhood Upgrading Project will benefit about a million residents. It will specially cater to the needs of women, youths, elderly and disabled, who often refrain from using public amenities.

Under this project, livability of the selected areas will be enhanced by improving open public spaces such as parks, playgrounds, waterfronts, streets, sidewalks, and public buildings such as community centres.

Jon Kher Kaw, World Bank team leader for the Dhaka City Neighborhood Upgrading Project, said: “Well-designed public areas such as streets, sidewalks, parks, lighting, and multipurpose community centres can make a big difference to people’s lives.

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