This August 2024 update covers capital market and foreign exchange changes issued by the Bangladesh Securities and Exchange Commission (BSEC) and Bangladesh Bank, with the directive or circular reference for each.

BSEC now allows private limited companies to sponsor mutual funds if they have net worth of at least Tk 10 crore, liquid assets at least equal to the committed subscription, a board of at least three members including an independent director, and no loan default or money laundering record for the company or its directors. BSEC also introduced the Real Estate Investment Trust Fund Rules 2024, under which a REIT fund runs either a development scheme or a rental scheme.

Bangladesh Bank circulars cover remittance incentives on foreign currency paid directly into the Probash Scheme, export cash subsidies for 43 sectors for FY23-24, and recording refunded import payments through the ticketing module of the Online Import Monitoring System. Offshore Banking Operations may borrow up to 30% of regulatory capital from their Domestic Banking Units, and those above the limit must comply by 31 December 2024. Other items cover attestation certificates from the Bangladesh Tanners Association for finished leather incentives, subsidy eligibility for jute and jute-like materials, and revised remittance and reporting procedures for foreign airlines and shipping companies.