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15 individuals, 19 firms keep topping NBR’s honours chart

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The National Board of Revenue (NBR) introduced tax cards more than a decade ago and expanded its associated list from fiscal 2015-16 to recognise compliant taxpayers in various sectors and professions.

An analysis shows that 15 individuals and 19 conglomerates have been winning the recognition as top taxpayers of the country for the past straight six years.

The individuals are Md Kaus Mia, a businessman; Golam Dastagir Gazi, another businessman; Mahfuz Anam, editor and publisher of The Daily Star; Matiur Rahman, editor of the Prothom Alo; Mohammad Abdul Malek, editor of the Dainik Azadi; Sheikh Fazle Noor Taposh, a lawyer; and Pran Gopal Dutta, a physician.

The individuals also include Drug International’s Khwaja Tajmahal, MA Haider Hussain, Mohammad Yusuf, Hosne Ara Hossain, Rubaiyat Farzana Hossain, Laila Hossain, Palmal Group of Industries Managing Director Nafis Sikder, and national cricketer Tamim Iqbal Khan.

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Yesterday, they were among the 75 individuals who were honoured by the NBR for the payment of the highest amount of taxes for 2020-21. The tax administration also recognised 54 companies.

Finance Minister AHM Mustafa Kamal inaugurated the award presentation event organised at the Officers’ Club Dhaka.

Among the 19 companies are Islami Bank Bangladesh, Standard Chartered Bank, HSBC, Grameenphone, Nestlé Bangladesh, Titas Gas Transmission and Distribution Company, Unilever Bangladesh, British American Tobacco Bangladesh, Coats Bangladesh, American Life Insurance Company, Square Pharmaceuticals, and Apex Footwear.

The remaining ones are Mediastar Ltd, Transcraft Ltd, Badsha Textiles Mills, Noman Terry Towel Mills, Rifat Garments, SN Corporation, and ASBS.

Mediaworld Ltd, Infrastructure Development Company Ltd, Bay Developments Ltd, Bata Shoe Company (Bangladesh) Ltd, and Lalmai Footwear won the recognition for the fifth consecutive year.

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“We are delighted to be able to play our part in supporting the incredible growth-journey of our nation,” said Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, after receiving the tax card.

“As one of the longest-serving financial institutions of Bangladesh and the largest international bank in the country, it has always been our mission to serve as a partner in progress to our nation.”

“We are grateful and would like to express our humble recognition of the vital role the institution is playing in Bangladesh’s sustainable development through driving domestic resource mobilisation, by embracing technology and progressive policy formulation.”

AK Azad, managing director of Rifat Garments, says he is feeling encouraged.

“Our exports are rising continuously, so we are honoured to get the recognition for our contribution to the country.”

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“I pay tax as I make a profit,” Kaus Mia, owner of Hakimpuri Jarda, told The Daily Star recently.

“I pay tax because it is a good thing to do. How will the state bear its expenses if we don’t pay tax?”

“We remain committed to continuing our contribution towards the economic development of the country alongside providing world-class financial protection to the people,” Ala Ahmad, chief executive officer of MetLife Bangladesh, told The Daily Star.

“Insurance is vital for sustained economic growth, and we are honoured to represent the insurance sector as one of the major contributing sectors for Bangladesh’s ongoing prosperous journey.”

The government’s recognition is a true testament to Unilever’s continuous contribution to the internal revenue of Bangladesh, said Zaved Akhtar, chief executive officer and managing director of Unilever Bangladesh.

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“We will continue our partnership with the government and larger ecosystem and fuel the growth momentum and progress toward our vision of a developed country by 2041.”

“We are on a mission to bring real change, improve people’s lives and protect nature,” he added.

Syed Md Aminul Karim, a former member for income tax policy at the NBR, said companies continuing to top the list of the largest taxpayers indicated that they had good corporate practices.

And it appears that they play a responsible role in society, he said.

But a large number of firms with a good amount of income continues to remain outside the scanner of the tax authority for its lack of capacity to dig deeper to assess actual incomes.

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“The same is also true for many individuals who earn a lot but show little in their tax returns,” said Karim, now an adjunct faculty of the banking and insurance department of the University of Dhaka.

Recalling his experiences, he mentioned a taxpayer who showed Tk 3 lakh as annual income but was later found to be paying Tk 10 lakh in tuition fees for his children at an international school in Dhaka.

“We are yet to tax the incomes from land and flat sales properly,” he said, suggesting tax officials track the expenditure of individuals to assess actual incomes.

Md Kamrul Hassan, chief financial officer of Transcom Ltd, received the tax card, crest and a certificate of honour from NBR Chairman Abu Hena Md Rahmatul Muneem on behalf of Transcraft.

He also received the same on behalf of the late Latifur Rahman and his wife Shahnaz Rahman, the current chairman of Transcom Group.

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Matiur Rahman received a tax card, crest and certificate of honour. He also received the same on behalf of Mediastar.

Uzma Chowdhury, director (finance) at Pran-RFL Group, accepted the award on behalf of Pran Dairy.

Shykh Seraj, a director and head of news of Channel i, received the recognition on behalf of Faridur Reza Sagar, the company’s managing director.

In the print and electronic media category, Somoy Media and East West Media Group were named as the highest taxpayers.

The finance minister said Bangladesh was doing well in all economic indicators, including revenue earnings.

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He requested people to participate more and more in paying taxes to build a Golden Bengal.

Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry, urged the authorities to ensure that tax card-holders were provided privileges as mentioned in the tax card policy.

“We appeal for considering the issue of withdrawal of advance income tax to facilitate business,” he said.

Jashim stressed ensuring transparency and accountability and suggested identifying new and well-off people to increase tax receipts.

“Discretionary powers of taxmen also needs to be reduced to bring new taxpayers under the tax net.”

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NBR Chairman Rahmatul Muneem said it would be possible to cut tax rates if an increased number of taxpayers came under the tax net.

“We are working on digitalisation and simplification of rules so that taxpayers can pay tax with ease.” 

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Progressive Life Insurance successfully settles claims totaling nearly Tk 40 crore in 2024

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Progressive Life Insurance Company Limited (PLICL) settled down insurance claims of approximately 40 (forty) crore taka in 2024 which has fortified clients’ confidence on the company. Progressive Life Insurance Company Limited entered 25th year on 6 January 2025. PLICL was founded on 6 January in the year 2000. Discussion programs, slicing a cake, offering dua and a colourful rally were organized to mark the company’s founding anniversary on Monday at PLICL corporate office in the capital. 

The rally moved around different parts of Dhaka city and the officials of the company held a gathering in front of PLICL head office on Monday morning at 10:30 am. 

PLICL Chairman (Acting) M Shoeb Chowdhury joined the 25th founding anniversary celebration virtually as the chief guest. M Shoeb Chowdhury said that the top management of Progressive Life Insurance Company Limited has been able to uphold the dream cherished by expatriate Bangladeshis whose contribution led to the establishment of the company. Shoeb Chowdhury laid emphasis on working with unity and solidarity for the company’s further advancement and to generate many more success stories.

PLICL Executive Committee Chairman Mezanur Rahman , Chairman of Audit Committee Dr. Md. Jamil Sharif, PhD, FCMA and former entrepreneur Prodeep Sen also attended the program. The event was presided over by the company’s Chief Executive Officer (CEO) Md. Saidul Amin. The 25th founding anniversary of Progressive Life Insurance Company Limited was celebrated in 32 districts and divisional offices across Bangladesh. Senior officials of the insurance company expressed hope and determination to transform PLICL into a top notch institution in days to come. The speakers at the program stated that Progressive Life Insurance Company Limited appointed 1200 development officers in 2024 and training courses have been initiated to upgrade their skills.

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PLICL Deputy Managing Director (DMD) Mohammad Hossain Shaheed Suhrawardy, Senior DMD Shahjahan Azadi, Company Secretary Abdullah Al Mansur and Senior DMD Jaseem Uddin Prodhan addressed the program among other dignitaries.

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Banks see rising deposits for higher interest rates

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Bank deposits grew in the third quarter of 2024 as many people were encouraged by rising interest rates to park their money at commercial lenders.

In the July-September period of the previous calendar year, bank deposits rose 7 percent year-on-year to Tk 18.25 lakh crore, with bank branches in rural areas registering higher deposit growth compared to their urban counterparts.

The significant hike in interest rates was a key driver behind the growth in bank deposits, said Syed Mahbubur Rahman, managing director and chief executive of Mutual Trust Bank PLC.

Besides, banks have carried out a lot of campaigns to attract depositors, he added while informing that they expect the uptrend of deposits to continue.

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The weighted average interest rates on deposits rose to 5.88 percent in the July-September quarter last year from 4.55 percent during the same period of the previous year, according to data of the Bangladesh Bank.

But when comparing the April-June quarter, bank deposits declined by 0.73 percent year-on-year due to widespread unrest centring a mass movement that ousted the Awami League government on August 5.

Overall bank deposits stood at Tk 18.38 lakh crore by the end of last June.

Private commercial banks, including Islamic banks, constitute 68 percent of the total deposits at present.

However, the central bank data shows their deposits shrank 0.33 percent to Tk 12.58 lakh crore by the end of last September from Tk 12.62 lakh crore three months prior.

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The crisis ridden Islamic banks recorded the steepest decline in deposits during the July-September period. Meanwhile, state banks closely followed even though both public and private banks saw deposit growth for about one year since the end of September 2023

On the other hand, loans and advances maintained an uptick for four quarters ending with the July-September period of 2024.

Loans and advances increased by 10 percent year-on-year to Tk 16.19 lakh crore by the end of September last year.

Between June and September of 2024, loans and advances to bank borrowers grew by 1.43 percent mainly in urban areas.

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২০২৪ সালে চল্লিশ কোটি টাকার বীমাদাবি প্রদান করলো প্রগ্রেসিভ লাইফ ইনসিওরেন্স

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সফলতার ২৫ বছরে পা রাখলো প্রগ্রেসিভ লাইফ ইনসিওরেন্স কোম্পানী লিঃ।গতকাল ৬ জানুয়ারি ২০২৫ সালে ২৫তম প্রতিষ্ঠা বার্ষিকী উপলক্ষে আয়োজিত অনুষ্ঠানে এই তথ্য জানান কোম্পানিটির মুখ্য নির্বাহী কর্মকর্তা মোহাম্মদ সাইদুল আমিন। ৬ জানুয়ারী ২০০০ সালে এই কোম্পানিটির যাত্রা শুরু হয়। ঢাকায় প্রতিষ্ঠানের প্রধান কার্যালয়ে বর্ণাঢ্য শোভাযাত্রা,আলোচনা,কেক কাটা,দোয়া অনুষ্ঠান সহ বিভিন্ন আয়োজন করা হয়েছে।

২৫তম প্রতিষ্ঠা বার্ষিকী উপলক্ষে ঢাকার স্কাউট ভবন কার্যালয় থেকে সকাল ১০.৩০ টায় একটি শোভাযাত্রার আয়োজন করা হয়। পল্টন এর বিভিন্ন স্থান প্রদক্ষিণ শেষে প্রধান কার্যালয়ে সমবেত হন প্রগ্রেসিভ লাইফ ইনসিওরেন্স এর কর্মকর্তা কর্মচারীরা। প্রগ্রেসিভ লাইফ ইনসিওরেন্স কোম্পানী লিঃ এর মুখ্য নির্বাহী কর্মকর্তা মোহাম্মদ সাইদুল আমিন সেখানে সংক্ষিপ্ত বক্তব্য প্রদান করেন।

দুপুরে আলোচনা সভায় প্রধান অথিতি হিসেবে ভার্চুয়ালি যোগ দেন ভারপ্রাপ্ত চেয়ারম্যান এম শোয়েব চৌধুরী।তিনি বলেন, ২৫ বছর আগে যে লালিত স্বপ্ন নিয়ে প্রবাসী বাংলাদেশীরা এই প্রতিষ্ঠান তৈরি করেছে আমরা তা সমুন্নত রেখে এগিয়ে নিয়ে যাবো।তিনি সবাইকে একতাবদ্ধ হয়ে কাজ করার উপর গুরুত্ত আরোপ করেন।বিশেষ অতিথি হিসেবে উপস্থিত ছিলেন নির্বাহী কমিটির চেয়ারম্যান মোহাম্মদ মিজানুর রহমান, অডিট কমিটির চেয়ারম্যান ড. জামিল শরিফ ও সাবেক উদ্যোক্তা পরিচালক প্রদিপ সেন।

সভাপতির বক্তব্য মুখ্য নির্বাহী কর্মকর্তা মোহাম্মদ সাইদুল আমিন বলেন,দেশব্যাপী প্রগ্রেসিভ লাইফ এর ৩২ টি জেলা/বিভাগীয় অফিসে একযোগে আমাদের ২৫তম প্রতিষ্ঠা বার্ষিকী পালিত হচ্ছে যা আমাদের জন্য গর্বের বিষয়। ২০২৫ সাল প্রগ্রেসিভ লাইফ ইনসিওরেন্স ২৫তম  বছরে আমাদের ঘুরে দাঁড়ানোর বছর। দেশের শীর্ষ বীমা কোম্পানিতে পরিণত করারা আশাবাদ ব্যক্ত করেন।তিনি জানান,২০২৪ সালে আমরা প্রায় ৪০ কোটি টাকা বীমা দাবি পুরন করে গ্রাহকদের আস্থা অর্জন করতে সক্ষম হয়েছি। সারা দেশে ১২০০ উন্নয়ন কর্মিকে নিয়োগ দিয়েছি এবং প্রশিক্ষণ কার্যক্রম চালু করেছি।বীমা খাতে দক্ষ কর্মী তৈরিতে প্রগ্রেসিভ লাইফ অগ্রণী ভূমিকা পালন করে চলেছে।

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প্রগ্রেসিভ লাইফ ইনসিওরেন্স কোম্পানী লিঃ এর উপ-ব্যবস্থাপনা পরিচালক মোহাম্মদ হোসেন শহীদ সোহরাওয়ারদী , সিনিয়ৱ ডিএমডি শাহজাহান আজাদী,কোম্পানি সচিব আব্দুল্লাহ আল মনসুর,সিনিয়ৱ ডিএমডি জসীম উদ্দিন প্রধান সহ প্রমুখ বক্তব্য রাখেন। 

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