Quotes of the Month

1. If the waived interest is considered allowable expenses, it will have a positive impact
on the cash flow of a merchant bank or a stockbroker.
Said Al-Maruf Khan, chairman of CMSL Securities, regarding the exemption of merchant
banks and stockbrokers of tax payment on the interest they waived last year for the
investors affected by a stock market debacle in 2011.
2. Until now, Bangladesh Bank had bought the excess dollars. The decision came to
check the money supply considering the recent inflationary pressure. The banks will
not face any problem.
Said the Central Banks Chief Economist Hassan Zaman regarding Bangladesh Banks
new directive which states a bank can maintain up to 15 per cent of its capital in foreign
currencies.
3. Export earnings from the computer services rose as Bangladesh has made its position
in the global IT map. It helped the country to get more work orders.
Syed Almas Kabir, senior vice president of Bangladesh Association of Software and
Information Services (BASIS), said in regard to the 24 percent increase in software
exports over the past 11 months.
4. Weve urged the government to withdraw the upfront tax immediately for ensuing
development of the countrys secondary securities market.
Anis A Khan, chairman of the Primary Dealers Bangladesh Limited (PDBL) said that the
tax is creating an adverse impact on the countrys securities market.
5. Realising this potential will require safeguarding macroeconomic stability, further
strengthening the financial sector, business climate and labour conditions.
IMF Deputy Managing Director Naoyuki Shinohara said in a statement at the conclusion
of his two-day visit to Bangladesh that the country has a vibrant economy and strong
potential to achieve a higher and sustained inclusive growth.
6. "If the government provides guarantees for all cash-strapped agencies, this could lead
to fiscal risks for the economy."
- The WB lead economist, Dr Zahid Hussain, at its Bangladesh country office said the
government should not provide guarantees randomly.

7. Important progress has been made in the apparel sector, there would be another
review for the GSP in December, and Im very hopeful that progress will continue at
the current phase and there would be different picture in December.
- US Ambassador in Dhaka Dan W Mozena said replying to a question on restoration of
GSP for Bangladesh.
8. "The securities regulator can make it clear whether the exchange will conduct
inspection or not."
- The former chairman of the securities regulator Faruq Ahamd Siddiqi said the BSEC
should not linger its decision regarding the authority of conducting company inspection
by the exchange authority.
9. Despite suspension of GSP (generalised system of preferences), our export to the
USA, the prime destination of Bangladesh exports, reached $5.583 billion, marking a
growth of 3.03 per cent."
- Commerce Minister Tofail Ahmed said the export growth is on the rise and the trend
will continue also in the current fiscal.
10. "Bangladesh would be well advised to maintain more guarded stance in widening
their openness to footloose short term capital flows."
- Governor Dr Atiur Rahman said Bangladesh Bank (BB) will continue its guarded stance in
capital management especially allowing capital outflow to avoid risks of spillover impact
of global economic uncertainties.