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We will enhance your ranks organically and safely, using state of the art AI and whitehat methods, while providing monthly reports and outstanding support. In Bangladesh, the CIC-GDP ratio fluctuated between 5.50 per cent and 7.60 per cent during the last one decade which means cash hoarding by people is mostly in line with the expansion of GDP.
Most of the Zamindar (জমিদার) mansions from Bangladesh were owned by the Hindu Zamindar (জমিদার). After the division of the country during 1947, and also later 1971, most of those powerful owners were coerced to leave the country, or cringed away to avoid the secular vandalism. Later government has taken control of few of those buildings and used as their official purpose (which are still in a presentable state). But others are in total ruin by now a days for lack of care. It is not sure but people believed that they have started their Zamindari somewhere around 1890. First Zamindar (জমিদার) was Kalichoron Shaha (কালিচরণ সাহা) gloria casino.
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It has been learnt that Raja Devasish Roy is in Thailand. Every year number of visitors are come here to see this beautiful House. Chakma Rajbari is one of the major visiting attractions in Rangamati. This royal house represents the tradition and culture of Chakma (চাকমা).
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A case was filed against Manik at the city’s Chandrima Police Station, and he was later arrested. Investment apps are so popular in the northern divisional city of Rajshahi that many have opened ‘offices’. Currently, an app called ‘MTFE’ is the most popular in the city. However, Bangladesh Bank redirects questions to law enforcement.
Several agents have become multi-millionaires thanks to this business. Social media is continuously advertising gambling apps such as Lucky Win, Glory Casino, Rapid Cash, and Emirates Lottery, luring the young generation. From his experiences arresting agents and dealers last year, the police official said that some young women take part in these chat rooms and get paid based on the digital currency collected from users. In a bid to curb black money, on November 08, 2016, Indian Prime Minister Narendra Modi demonetised Rs 500 and Rs 1000 notes. Almost two years later, the Reserve Bank of India (RBI) unveiled that 99.30 per cent of all the demonetised bank notes were returned to the central bank.
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He said if someone commits money laundering or any other financial crime on foreign apps or websites or in any other way, Bangladesh Bank will look into it. Customers fall for these scams by visiting web pages and downloading apps from the Play Store. Digital wallets are created without authorisation for money transactions.
Currency in banks is technically termed ‘currency in tills of deposit money banks (DMBs)’. It is also cash because banks maintain cash and pay the cash to depositors and lenders. Currency with the public is the amount of money held by individuals and institutions entirely in cash. Without going into the details of monetary aggregates, it may be simply mentioned that one is currency creation or supply side, another is use side. Bangladesh Bank notes and government notes and coins generate the total currency in circulation with Bangladesh Bank notes accounting for 99.0 per cent of the total.
On August 13, the government published the gazette finalizing the universal pension rules. Prime Minister Sheikh Hasina inaugurated the program on August 17.
In case of death before attaining the age of 75 years while on pension, the nominee of the pensioner will be entitled to pension for the remaining period of attaining the age of 75 years. He said that universal pension has got a huge response from the people. We are told that more than 10,000 have already been registered. The president of Bangladesh Krishak League, agriculturist Sameer Chand, former secretary general of KIB, agriculturist Md. Mubarak Ali, Bangabandhu Sheikh Mujibur Rahman Agricultural University Vice-Chancellor Professor Dr. Md. Ghiyasuddin Miah and the current treasurer of KIB is agriculturist M Aminul Islam addressed the meeting.
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In addition, the meeting was attended by Bangladesh Medical Association president and another member of the presidium of Bangladesh Awami League Dr. Mustafa Jalal Mohiuddin. Mahboob Alam Farooq KIB vice president agriculturist the program was conducted by Secretary General Agriculture. Speaking as a special guest at the event, Awami League Joint General Secretary AFM Bahauddin Nashim said that BNP-Jamaat leaders and workers suffer if they catch militants or take any action against them. However, it will never be possible in this country as long as Bangabandhu is alive. So they are involved in various conspiracies with foreign powers.
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Thus it may be presumed that a large section of people have small amount of cash in their houses. Only a few people have large or excessive amount of cash at their disposal due to rising disparity in income. In 2010, share of bottom five per cent of the population was only 0.78 per cent of total national income and it further declined to 0.23 per cent in 2016. At the same time, income share of top five per cent increased to 27.89 per cent in 2016 from 24.61 per cent in 2010. Moreover, when compared to the country’s Gross Domestic Product (GDP), it shows that the proportion of cash in Bangladesh economy is not as large as presumed by many.
They also shut down gambling or casino sites when they notice or receive complaints. A BTRC official said that in 2022, the regulator requested 150 Play Store casino apps to be closed. “Bangladesh Bank monitors suspicious transactions. But it is impossible to monitor the purpose for which a person or business engages in a money transaction.” In June 2021, two officials of the Bangshal branch of Dhaka Bank were arrested for gambling on an app, with nearly Tk 40 million withdrawn from the bank. Two major incidents of online gambling scams recently came to the notice of law enforcers, but only after tens of millions of taka were lost.
The most common way to express use of cash in a country is to calculate the ratio of currency in circulation (CIC) to nominal GDP. Nominal GDP is GDP at current market price and thus not inflation-adjusted. In FY19, nominal GDP of Bangladesh was estimated at Tk 25.36 trillion when total amount of currency in circulation was Tk 1.70 trillion. So the CIC-GDP ratio stood at 6.72 per cent in the past fiscal.
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Under such circumstances, the law is executed without consistency, often becoming discriminatory. Recently, a customer wrote under an advertisement on Glory Casino’s Facebook page, “I did not know that this casino cheated in this way. No one but Allah knows how many people of this country are suffering as I am.” In January 2020, Shamsul Islam, cash in-charge at the Rajshahi branch of the privately owned Premier Bank, withdrew Tk 35 million from the bank’s vault.
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Chakma Rajbari is one of the most beautiful Rajbari, which is located in Rangamati. This Rajbari was constructed by Raja Tridiv Roy, father of Raja Devasish Roy in 1960 when the earlier palace went under water due to commissioning of Kaptai dam.
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The ratio is reasonably low compared to advanced developing countries like China, India and Russia. CIC-GDP ratio is around 9.50 per cent in China and around 9.0 per cent in Russia. In India the ratio stood at 10.70 per cent in March this year. One is currency in banks or cash in hand with banks, another is currency outside banks or currency with the public.