Daily Entrepreneurship- Bangladesh (4 April 2019)

BRAC Bank, bKash partner with Malaysian Incentive Remit for digital remittance services

A new strategic partnership between the companies allows Bangladeshi expatriates based in Malaysia to send remittance directly from their phones to 1 million BRAC Bank accounts, 186 BRAC branches for cash collection and up to 30 million bKash mobile money wallets in Bangladesh, the bank said in a media release on Wednesday.

Incentive Remit’s mobile-first, digital model saves customers time and money as they do not have to visit a bricks and mortar agent to send money home, the release said.

International transfers to bKash mobile money wallets via Incentive Remit are instant.

Recipients can then transfer funds from their bKash wallets to other bKash wallets.

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Bangladesh wants DFQF after graduation from LDC

Bangladesh on Wednesday sought continuation of duty-free and quota-free market access for countries graduated to developing countries from least developed country status for at least additional 6-10 years after graduation.

The country made the plea to the member countries of the World Trade Organisation during the first day of the fifth review of Bangladesh trade policy being held in Swiss city of Geneva.

Bangladesh in its TPR report, placed its report to the WTO’s trade policy review body, said that WTO members need to develop special programmes for the newly graduated countries for ensuring smooth transition and preventing any unwanted setback.

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Capital Market Expo to begin Apr 4

A three-day Capital Market Expo-2019 will begin on April 04 (Thursday) aiming to create awareness about capital market investment.

The fair will be continued until April 06 at Shilpakala Academy in the capital Dhaka.

The organiser of the Expo held at a press briefing at the Economic Reporters’ Forum (ERF) office to announce the details of the event on Tuesday.

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Fastest in Asia-Pacific

Bangladesh is on track to log in the fastest economic growth in the Asia-Pacific region in fiscal 2019-20, said the Asian Development Bank in its latest report — in a resounding endorsement of the government’s economic policymaking.

The economy is expected to grow at 8 percent next fiscal year, which is the same as this year, said the Manila-based lender in the latest edition of its flagship publication, Asian Development Outlook 2019.

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PM: Diversify products, explore new markets to sustain RMG industry

Prime Minister Sheikh Hasina on Wednesday opened the newly-constructed BGMEA Complex at Uttara, urging the garment owners to diversify their products and explore new markets to sustain the industry.

“We’ll have to sustain the garment industry as employments for a huge number of women have been created in the sector … its impact has reached up to the villages, improving the socio economic condition of the rural people,” she said while inaugurating the new BGMEA Complex through a videoconference from her official Ganabhaban residence in the capital on Saturday afternoon, reports agencies.

The prime minister said efforts will have to be made to bring new dimensions in design and colour of the products side by side exploring new markets.

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