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upay offers lowest cash-out charge at ATM | Bangladesh Sangbad Sangstha (BSS)

upay offers lowest cash-out charge at ATM 256 DHAKA, May 11, 2021 (BSS) – Mobile financial service upay, a subsidiary of United Commercial Bank, has offered the lowest charge of Taka 8 for withdrawing Taka 1,000 from ATM. The charge is inclusive of tax and VAT. The upay customers will be able to withdraw money at more than 500 ATMs of the UCB across the country by using their upay app, said a press release today. The upay app is available to download from google play store by clicking the link cutt.ly/upay. upay, the MFS subsidiary of UCB launched its operation on March 17, 2021, covering all the districts and upzillas in Bangladesh.

UCB to form Tk 700cr funds | The Daily Star

UCB to form Tk 700cr funds To accelerate startup, e-commerce growth Star Business Report Star Business Report United Commercial Bank (UCB) has decided to form two funds totalling Tk 700 crore to cater to a growing demand for finance among promising local startups and e-commerce companies. The UCB will invest Tk 100 crore to set up a Tk 350 crore UCB Venture Capital Fund-One following approval from Bangladesh Bank and the Bangladesh Securities and Exchange Commission, reads a Dhaka Stock Exchange website post yesterday. A little venture capital fund is available in the country, despite which there has been a proliferation of startups over the past couple of years thanks to increased entrepreneurial enthusiasm among youths.

MFS industry swells riding on low-income groups

MFS industry swells riding on low-income groups Cash-out charge unchanged since 2011 Mobile financial services have gained immense popularity in Bangladesh, particularly among lower-income groups, but the charge to withdraw funds has remained almost unchanged since the inception of the digital platform in 2011.    As a result, most clients have to fork out Tk 18.50 to withdraw Tk 1,000 from their accounts. It was the same when the service was rolled out. Although some MFS providers have recently slashed the charge to Tk 14, users and analysts say the rate is still higher, and a further reduction will benefit the poor, who avail the money withdrawal service through mobile phones most.

Banks almost deserted, stock indices gain in lockdown

  Staff Correspondent,  bdnews24.com Published: 15 Apr 2021 06:46 PM BdST Updated: 15 Apr 2021 06:46 PM BdST The banks in Dhaka were almost deserted on Thursday with most businesses shut amid a coronavirus lockdown with stricter rules and a ban on public movement. ); } The stock market indices rose on the first day of trading amid the new lockdown that began on Wednesday, a public holiday on the occasion of Pahela Baishakh. The government has allowed banking from 10am to 1pm during the lockdown. Trading on the stock market is continuing from 10am to 12:30pm. At least one branch of a bank should be open every 2 km in a city corporation area.

Mostafa-Hakim Group expands steel production capacity

Mostafa-Hakim Group expands steel production capacity Mostafa Hakim Group invested Tk 1,000 crore to establish the new unit, HM Steel and Industries, in Chattogram’s Karnaphuli upazila. Rajib Raihan Dwaipayan Barua, Ctg Dwaipayan Barua, Ctg Mostafa-Hakim Group yesterday launched a new MS rod production facility to expand its annual production capacity by 4 lakh tonnes. The move comes just four years after the company set up its first fully-automated rebar manufacturing unit called Golden Ispat. The group invested Tk 1,000 crore, including Tk 700 crore from United Commercial Bank, to establish the new unit, HM Steel and Industries, in Chattogram s Karnaphuli upazila. Land Minister Saifuzzaman Chowdhury inaugurated the plant through a ceremony chaired by Mohamad Manjur Alam, managing director of Mostafa-Hakim Group and former mayor of Chattogram City Corporation (CCC).

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