American EXIM Bank offers easy loans to Bangladesh

Star Business Report

US-based EXIM Bank yesterday extended an offer to give easy loans to the Bangladesh government and private entrepreneurs to boost economic development in the country.
Bangladesh can use the loans to purchase aircraft, machinery, satellites and power equipment, the bank's Chairman Fred Hochberg said at a luncheon meeting of American Chamber of Commerce in Bangladesh, at the Westin Dhaka.
Hochberg referred to loans to Bangladesh Biman a few years ago to purchase four Boeing planes. The US EXIM Bank provides loans to foreign clients in sectors that eventually increase the export potential of US goods and services.
In 2011 and 2013, the bank had financed more than $500 million to allow Biman to acquire four Boeing 777-300ER long-range passenger aircraft. “Fostering jobs and economic growth are the primary goals of EXIM Bank.”
Bangladesh is an important market for the US, as it has been maintaining economic growth at 6.5 percent over the years and the income of the middle-class consumers is also increasing, said Hochberg.
American companies are especially interested in helping Bangladesh meet its ambitious infrastructure investment goals with sustainable and quality services and goods, he added.
He suggested improving infrastructure and the ease of doing business in Bangladesh so that more foreign direct investment, even from the US, can come here.
During his visit to Dhaka, he met with the business community and ministers to assure them that the EXIM Bank will assist the American firms to compete for Bangladeshi business.
Since President Barack Obama took office, the bank has supported over $650 million in US exports to Bangladesh -- more than any previous administration, he said.
Hochberg said 90 percent of their customers are small and medium enterprises. So, Bangladesh has a lot of potential investors and they can take loans for their enterprises, he added.
“Bangladesh is becoming an increasingly important market for the US for higher growth potential,” said Marcia Stephens Bloom Bernicat, the US ambassador to Bangladesh.
Similarly, the US also wants to be a partner of the growth potential for the next decade, she added.
Attracting foreign investment is critically important for the economic development of Bangladesh, Bernicat said.
Nurul Islam, president of AmCham, said EXIM Bank invests in sectors that mainly create jobs. For example, the bank provided $1 billion to Vietnam in the manufacturing sector three years ago, which created a lot of jobs there, he added.

Importers move to curb illegal inflow of handsets

Muhammad Zahidul Islam

Mobile importers have moved to curb the inflow of unregistered and smuggled handsets into Bangladesh.
There are currently 8.92 crore handsets in the market, about 30 percent of which were brought in through illegal channels, depriving the government of about Tk 200 crore in duties a year, according to Bangladesh Mobile Phone Importers' Association or BMPIA.
The BMPIA will introduce hologram stickers to tag legally registered handsets, said Rezwanul Haque, general secretary of the importers' platform.
The association also plans to set up an automated no-objection certification (NOC) process with the telecom regulator to empower customers to check their handsets' provenance.
After establishing a database with the NOCs as well as the approved International Mobile Station Equipment Identity or IMEI, which is a 15-digit unique number for every handset, it will also help ensure security, Haque said.
“We will also soon introduce a five-digit short code, where users can call to check their handsets' IMEI numbers. They also can verify the IMEI on our website.”
State Minister for Telecom Tarana Halim will launch the database in a ceremony at the Westin Dhaka on February 9.  However, the association is not planning to take any action against the unregistered handsets currently in use, officials said.
“For now, we are focused on digitising the registration process, and may use it for regulatory purposes after the database is properly enriched over the next few years,” Haque said.
Some 50,000 handsets are stolen or lost in Bangladesh every year, and a proper database will help with recovery and curb related crimes, the association said.
Currently, fake IMEI are not detectable in Bangladesh, which makes it easy to use those to carry out criminal acts like kidnapping, officials said, for which they are working to stop the inflow of such fake IMEI handsets.
Bangladesh imported 2.59 crore handsets last year, with 15 percent year-on-year growth.
On December 16 last year, all mobile phone operators began the re-registration process for all subscriber identity modules or SIMs through the biometric system, also to boost security.

Sunrisers snap up Mustafizur Rahman of Bangladesh: IPL 2016

01:59 PM, February 06, 2016 / LAST MODIFIED: 02:59 PM, February 06, 2016

Mustafizur Rahman is delighted after picking up a wicket in the first game of the 3-match ODI series against India at Mirpur. Photo: STAR

Star Online Report

Bangladesh’s bowling sensation Mustafizur Rahman was bought by Sunrisers Hyderabad during the Indian Premier League (IPL) 2016 auction for $208,000 today.
The Sunrisers team owners and coaching staff decided to bring another left-arm bowler in their camp after New Zealand’s’ Trent Boult, and Mustafizur Rahman was the first name in their consideration set, IPL’s official Twitter says.

WATCH: Young left-arm pacer Mustafizur Rahman sold to @SunRisers #IPLAuction @BCBtigershttps://t.co/y8oRn7aTSe

— IndianPremierLeague (@IPL) February 6, 2016

Hyderabad have managed to rope in big name players like David Warner, Eoin Morgan, Yuvraj Singh, Kane Williamson besides some good Indian cricketers. With a settled side and a penetrative bowling attack, they certainly rank as one of the favourites to go the distance in this year’s IPL extravaganza.
Mustafizur has played only seven T20 internationals in his career, and took 10 wickets at an average of 15. In nine ODIs, he has 26 wickets at 12.3 with 6/43 his best performance. He played two Tests and has four wickets in his bag. He became the first Bangladeshi cricketer to feature in ICC’s ODI Team of the Year.
In this year’s IPL, all squads can have a minimum of 16 players and a maximum of 27.
No franchise can have more than nine foreigners in their squads. The ceiling of expenditure has been fixed at Rs 66 crore.
After retention, release of players and trading, the teams left with the biggest purse are Delhi Daredevils (Rs 37.15 crore) and Sunrisers Hyderabad (Rs 30.15 crore).
The new teams have Rs 27 crore each after they were allowed to pick five players in the December 15 draft.
The two teams looking most settled are Mumbai Indians who have retained 19 players and KKR who have held on to 15.
351 players will be going under the hammer on Saturday. That includes 130 capped players, two players from Associate nations and 219 uncapped players. But if all franchises look to fill their quota only 116 players - including up to 36 overseas players - can be bought at this auction.