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Bangladesh Bank refutes Indian media report on reserve heist
Rtv news
15 May 2024, 23:07
Bangladesh Bank has rejected claims of a new heist of foreign exchange reserves which is reported by an Indian news portal.
In an statement The Bangladesh Bank stated, 'An Indian newspaper published news regarding reserve heist of Bangladesh. This is to inform everyone that it is absolutely fake news. We have a three-tier confirmation policy with the US Federal Reserve now and have regular reconciliation of transactions.'
The Indian news agency published the article titled 'Are Indian hackers behind this month’s Bangladesh Bank heist involving billions?' saying that some unidentified suspected Indian hackers used digital ways to extract billions of dollars of foreign exchange reserves from the central bank of Bangladesh about a week ago. 'At least three officials familiar with the heist confirmed the matter to that Indian portal,' the news agency said.
The report says, 'While the sources were chary to disclose the amount sucked out of Bangladesh Bank, they confirmed that Indian and Bangladesh authorities, including the security agencies of the two countries were aware of the “sensational” heist and were “quietly” probing the crime.'
Notably, the news agency did not disclosed any clear information about the heist and the source of the information.
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53rd budget for the FY2024-25 to be unveiled in Parliament
The country's 53rd budget is going to be presented on Thursday (June 6). Finance Minister Abul Hassan Mahmood Ali is going to place the national budget for 2024-25 fiscal year in the parliament. This will be his first budget announcement and the first budget of the fourth consecutive term of the government led by Prime Minister Sheikh Hasina.
Finance Minister will present the proposed budget in the parliament at 3 pm.
According to the Ministry of Finance, the amount of the proposed budget will be Tk 7 lakh 97 thousand crore. The revenue target in the budget is Tk 5 lakh 41 thousand crore. The target of taking loans will be Tk 2,56,000 crore. The Annual Development Program (ADP) of Tk 2,65,000 crore has already been approved.
The theme of the budget for the next fiscal year would be 'Pledge towards building a happy, prosperous, developed and smart Bangladesh'. The budget session is usually long. The budget is expected to be passed on June 30.
According to the National Board of Revenue, several essential commodities may get tax exemption benefits this time to control inflation.
Cabinet approves proposed budget
The cabinet has approved the national budget for the fiscal year 2024-25. The cabinet approved the proposed national budget for the fiscal year 2024-25. The approval came from the special meeting of the cabinet held at the Jatiya Sangsad Bhaban. The meeting was presided over by Prime Minister Sheikh Hasina.
Finance Minister AH Mahmood Ali is going to place the national budget for 2019-20 fiscal year at 3:00pm.
The meeting started at 12 noon on Thursday (June 6) with Prime Minister Sheikh Hasina in the chair. The budget will be the 53rd budget of the country, the 25th of the Awami League government and the first budget of this finance minister.
The size of the proposed budget may be Tk 7 lakh 96 thousand 900 crore. This is Tk 36,000 crore more than the previous financial year (2023-24). The size of the budget for the current fiscal year was Tk 7,61,000 crore.
According to the Ministry of Finance, the revenue target in the budget is Tk 5 lakh 41 thousand crore. The target of taking loans will be Tk 2,56,000 crore. The Annual Development Program (ADP) of Tk 2,65,000 crore has already been approved.
Recently, State Minister for Finance Waseqa Ayesha Khan said controlling inflation, diversification of export products, creating employment and increasing opportunities for marginalized people will be the priorities of this year's budget.
The theme of the budget for the next fiscal year would be 'Pledge towards building a happy, prosperous, developed and smart Bangladesh'.
Finance Minister unveils proposed budget 797,000C for FY2024-25
Finance Minister Abul Hasan Mahmud Ali is presenting the national budget for 2024-25 fiscal year in the third session of the 12th Jatiya Sangsad.
The finance minister started his budget speech titled 'Pledge to build a happy, prosperous, developed and smart Bangladesh' in the parliament from 3 pm on Thursday (June 6).
The size of the budget is Tk 7 lakh 97 thousand crore. The size of this year's budget is 4.6 percent more than the 2023-24 fiscal year. This is the 53rd budget of the country, the 25th of the Awami League-led government and the first budget of Finance Minister Abul Hasan Mahmud Ali.
According to the Ministry of Finance, the revenue target in the budget is Tk 5 lakh 41 thousand crore. The target of taking loans will be Tk 2,56,000 crore. The Annual Development Program (ADP) of Tk 2,65,000 crore has already been approved.
Recently, State Minister for Finance Waseqa Ayesha Khan said controlling inflation, diversification of export products, creating employment and increasing opportunities for marginalized people will be the priorities of this year's budget.
'Budget reprimands honest taxpayers and rewards those with black money'
Fahmida Khatun, executive director of the Centre for Policy Dialogue (CPD), said the government has imposed 15 percent tax on black money and 30 percent on legitimate income in the budget. This is in no way acceptable. Budget reprimands honest taxpayers and rewards those with black money, she added.
Fahmida Khatun said this at a post-budget press conference at Bangabandhu International Conference Center in the capital on Friday (June 7).
Finance Minister Abul Hasan Mahmud Ali presented the national budget for 2024-25 fiscal year in the parliament on Thursday (June 6).
'It is not be possible to achieve the revenue targets, inflation and GDP growth targets announced in the budget,' Fahmida Khatun said.
The CPD executive director also said that the Awami League's election manifesto clearly states that the government will have zero tolerance against the corrupt. But in the budget, the tax rate has been reduced in an attempt to bring the mischievous including tax and loan defaulters into the economy. This is completely contradictory to the election manifesto of Awami League.
Supplementary budget Tk 378.17b for FY 2023-24 passed
The Jatiya Sangsad has passed a supplementary budget of Tk 37,817 crore 40 lakh 57 thousand for the current fiscal year 2023-24.
Finance minister Abul Hasan Mahmood Ali placed the appropriation (Supplementary) Bill, 2024 in the parliament. The bill later passed by voice vote.
The supplementary bill was introduced to give the authority to allocate and specify more than the amount sanctioned from the Consolidated Fund for the execution of the activities of the fiscal year ending June 30.
The finance minister moved three bills to pass the supplementary budget in the House following a general discussion on it
on Monday (June 10).
A total of 51 demands for grants were placed in the House on Monday (June 10) to appropriate the allocations for different ministries, divisions and institutions around the country.
In the original budget of the current fiscal year, Tk 7,61,785 crore was allocated in favor of 62 ministries and divisions. In the revised budget, the allocation for 22 ministries and divisions has been increased by Tk 37,817 crore. The budgets of 40 ministries and divisions remained unchanged or decreased. Overall, the revised budget has been reduced by Tk 47,367 crore to Tk 7,14,418 crore.
Reason behind banks remain open today, tomorrow
Bangladesh Bank (BB) has decided to keep open the branches of scheduled banks for three days to facilitate payment of salaries, bonuses and other allowances and sale of export bills to garment workers, employees and officials. These branches in the industrial areas will remain open for the next three days including Friday (June 14).
Bangladesh Bank's Department of Offsite Supervision (DOS) said in a press release.
The central bank has issued a circular in this regard to the managing directors and chief executive officers of all scheduled banks operating in the country.
According to the directive, the branches of scheduled banks located in Dhaka metropolis, Ashulia, Tongi, Gazipur, Savar, Bhaluka, Narayanganj and Chattogram will remain open on June 14, 15 and 16 to facilitate the sale of export bills of different organizations related to the RMG industry and payment of salaries, bonuses and other allowances to the workers, employees and officials working in these industries. The branches concerned should be kept open with adequate security.
Besides, appropriate measures should be taken in consultation with the port or customs authorities, including the local administration, to keep the branches, sub-branches or booths located in the sea, land and airport areas open 24 hours a day, 7 days a week.
Areas where banks to open on Saturday & Sunday
Bangladesh Bank has decided to open a limited number of scheduled bank branches to facilitate the purchase of sacrificial animals along with salary and bonus for the workers, employees and officials working in the ready-made garment industry even during weekends and public holidays before Eid. Banking activities in these branches have been asked to be conducted till 10 pm.
The Central Bank asked to keep the branches and sub-branches of the banks adjacent to be open in the two cities of the capital and Chattogram City Corporation and near the Animal markets. Banking activities in these branches have been asked to be conducted till 10 pm. On Saturday and Sunday (June 15 and 16) from 10 am to 10 pm, bank branches and sub-branches adjacent beside the market will be open in designated areas.
Earlier, the central bank said that the sacrificial animal markets run under the supervision and management of Dhaka South City Corporation, Dhaka North City Corporation, Chattogram City Corporation and Singra Municipality of Natore have a large number of traders and a large amount of cash is transacted. As a result, security of financial transactions in markets is very important.
Various bank branches or sub-branches conduct their regular operations in close proximity to the sacrificial animal markets. By using these bank branches or sub-branches near the animal markets, the sacrificial animal traders can take the help of the bank for the payment of their animal sales. Moreover, if the temporary booth of the bank is opened in the animal market, the animal traders can take the help of the booth in the money transaction.
In this situation, normal banking activities will continue from June 14 to the day before Eid till 10 pm in the bank branches or sub-branches near the animal markets of Dhaka and Chattogram Metropolitans and Singra municipality of Natore. And the central bank has instructed to take measures to set up temporary booths in the animal market of Qurbani by ensuring adequate security and to give special allowance to the officers and employees who perform duties in extra hours in the branches, sub-branches and booths of the concerned banks.
This directive has been issued under the powers provided in Section 45 of the Bank Companies Act, 1991. Bangladesh Bank has sent instructions in this regard to the managing directors and chief executive officers of all scheduled banks operating in the country.
