Tonmoy Dash

Tonmoy Dash he central bank yesterday issued rules allowing local firms to invest in other countries in a major move towards capital liberalisation that will enhance the country's export prospects and create jobs for Bangladeshis abroad. The Bangladesh Bank has so far permitted 16 companies on a case to case basis to open subsidiaries in countries such as Malaysia, Singapore, Ethiopia, and Kenya. Since 2014, the BB has allowed them to invest $59.9 million abroad. Now, businesses will be able to invest abroad 20 per cent of their average exports in the previous five years or 25 per cent of net asset values based on the latest audited reports, whichever is lower.