Bangladesh has set an ambitious goal of generating more than 4,100 megawatts of electricity from renewable energy sources by 2030 as the county looks to cut greenhouse gas emissions significantly. Bangladesh’s renewable energy sector is experiencing a surge, driven by both environmental concerns and the rising cost of traditional fossil fuels. Solar and wind power are leading the charge, with several notable projects and investment proposals emerging. Technical Assistance, grant, and loan for these projects is pouring in from various nations, including EU, Japan, China, and Denmark, and also ..read more

The global maritime industry thrives on the intricate dance between shipowners and charterers. This vital partnership is governed by charterparties, contracts that define the terms for the use of a vessel. However, the complex nature of these agreements, coupled with the ever-changing dynamics of seafaring, can give rise to disputes. These disputes can be costly, time-consuming, and disrupt the smooth flow of international trade. Charterparty disputes can arise from various situations, often stemming from ambiguities in the contract itself or disagreements on how its clauses should be interpr ..read more

Summary: The Bangladesh Securities and Exchange Commission (BSEC) directed listed firms to ensure 30% shareholding by sponsors and directors. Non-compliant firms, including Active Fine Chemicals and Central Pharmaceuticals, face scrutiny. The commission appointed independent directors to six firms and granted a year for 13 others to comply. Experts suggest removing non-compliant directors to protect investors. BSEC spokesperson noted ongoing efforts for compliance and potential inclusion of shareholders with over 5% shares on boards. The directive aims to hold directors accountable and stabili ..read more

Summary: It has been 52 years since a bank in Bangladesh has closed and the assurance is that none will close soon. However, weaker banks that are facing problems may consider mergers and acquisitions (M&A) to strengthen their capital base, as per the Bangladesh Bank. The Governor of Bangladesh Bank, Mr. Abdur Rouf Talukder, stated on Wednesday that this option is currently being considered.  Content: The governor of Bangladesh’s central bank recently addressed concerns about a “trust deficit” in the banking sector during a press conference. The inquiry pertained to the lack of good g ..read more

Summary: At the 13th WTO Ministerial Conference in Abu Dhabi, Bangladesh successfully negotiated a three-year extension of duty-free market access following its graduation to a developing nation in 2026. Supported by 166 WTO members, this extension ensures continued access to LDC-specific technical assistance and capacity-building programs. The negotiations, spanning over five days, addressed concerns over potential trade losses post-graduation, exacerbated by the impact of the Russia-Ukraine war. Despite the absence of preferential duty programs for LDCs in the US, Bangladesh can now seek sim ..read more

Summary  The new regulations mandate banking managing directors or CEOs to have 20 years of experience, aged 45-65, with a three-year tenure, requiring Bangladesh Bank approval for appointments. To ensure governance and depositor protection, candidates are interviewed by central banks and then assessed by a committee. MDs who quit must justify, and new hires are expected to meet performance goals for loans, with assessments taking into account financial gains. Having a spotless record during Bangladesh Bank inspections and abstaining from illicit or other business ventures are essential c ..read more

Summary:  The Bangladesh Bank has mandated that independent directors in banks must be aged between 45 and 75 and cannot have family members holding shares in the bank. Any complaints proven against them will result in actions taken by the Bangladesh Bank under the Bank Company Act. Additionally, independent directors must possess at least 10 years of management or professional experience and hold a master’s or post-master’s degree in specified fields from a recognized university. These regulations aim to ensure good governance within the banking sector. Content: The Bangladesh Bank has i ..read more

Summary The regulatory body of the stock market has made it compulsory for a listed company to have at least 25% of its board members, including the chairman and managing director, physically present at the general meeting. This is to ensure that the company is accountable to its shareholders. Content On December 28th of the previous year, the Bangladesh Securities and Exchange Commission (BSEC) issued a directive to listed firms requiring them to hold their annual general meetings (AGMs) and extraordinary general meetings (EGMs) in the physical presence of shareholders. The commission’s decis ..read more

Summary Aspiring entrepreneurs in Bangladesh are encountering significant challenges, as the country’s business environment is being stifled by political instability and worldwide uncertainties. The number of registered corporations has declined, and only a small minority of them can successfully get off the ground. These hurdles have made it increasingly difficult for entrepreneurs to navigate the competitive market and establish themselves as viable contenders. Content During the period of July-December in the current fiscal year, a total of 4,516 companies were registered, including public ..read more

Rahman’s Chambers is proud to announce the selection of Mrs. Kamrunnaher Shimu, Associate at the firm, for a prestigious secondment program, commenced on the 16th of January 2024 at Nishimura & Asahi, one of Japan’s most renowned multinational law firms. This historic collaboration marks the first-ever instance of a Bangladeshi law firm securing such an opportunity with a foreign counterpart, paving the way for exciting future possibilities. Mrs. Kamrunnaher, will be embedded within Nishimura & Asahi’s dynamic team, complete with accommodation arrangements, and on the work front gaini ..read more