BB begins forex reporting as per IMF manual
Bangladesh Bank yesterday began publishing foreign currency reserves as per the International Monetary Fund’s BPM6 manual, in a move that will ensure that the country’s dollar stockpile is reported accurately.
13 July 2023, 18:00 PM
A new era dawns in trade with India
Bangladesh, India to begin bilateral trade in rupee from July 11
9 July 2023, 01:00 AM
Higher NPL burden for banking sector
The banking sector is burdened by a high non-performing loan (NPL) and will need to continue measures to beef up supervision and accelerate loan recovery, according to the Bangladesh Bank.
6 July 2023, 18:00 PM
Forex reserve rises past $31b
The country’s foreign exchange reserves rose past $31 billion yesterday after three multilateral lenders provided $925 million to Bangladesh.
26 June 2023, 18:00 PM
Extension of bank directors’ tenure: A huge blow to banking sector
Allowing directors to stay on for 12 years will deal a huge blow to the financial health of banks, which are already facing several crises, including a lack of corporate governance in recent years, say experts.
25 June 2023, 01:00 AM
Tight monetary policy, but is it enough?
On the surface, the monetary policy appears to be tuned to the need of the hour: bring down inflation and conserve reserves. But it comes caving down on careful reading.
19 June 2023, 01:00 AM
Can new monetary policy crush inflation?
The Bangladesh Bank may today raise its key interest rates to tame inflationary pressure but the attempt might go in vain since the monetary authority may not withdraw the interest rate cap on loans in a true sense.
17 June 2023, 18:00 PM
11 banks facing a capital shortfall of Tk 33,575cr
Eleven banks in Bangladesh faced a collective capital shortfall of Tk 33,575 crore in March, up 9.3 per cent from a quarter ago, in a reflection of their worsening financial health caused by persisting irregularities and lack of governance, central bank data showed.
16 June 2023, 02:00 AM
Default loans rise 9% in three months
It increased by Tk 10,954 crore to hit Tk 131,621 crore in March
28 May 2023, 10:18 AM
Govt keeps borrowing big amounts from BB
The government has kept borrowing a hefty amount of funds from the Bangladesh Bank as commercial banks are unable to meet the financing requirement of the state because of the liquidity crunch.
18 May 2023, 02:30 AM
Can falling imports alone ease stress in the economy?
Bangladesh’s trade gap and current account deficit have narrowed significantly in recent months but the positive developments might not prove enough to bring back stability to the economy.
16 May 2023, 02:00 AM
BB’s dollar sales this FY go past $12b
The US dollar sold by the central bank has surpassed the $12-billion mark in the ongoing fiscal year as it has had to pump the American greenbacks into the market in order to clear import bills.
14 May 2023, 03:00 AM
Financial account deficit goes past $2b
The deficit in Bangladesh’s financial account widened further in the first nine months of the ongoing fiscal year, an indication that the current instability in the foreign exchange market will continue in the coming months.
11 May 2023, 02:30 AM
Reinvestment of earnings pushed FDI up in 2022
Foreign direct investment (FDI) in the country increased 20 per cent year-on-year to $3.48 billion in 2022 for a surge in reinvestment of earnings by foreign companies.
5 May 2023, 03:00 AM
Taka keeps falling, forex reserves slip below $31b
The taka has lost its value further against the US dollar after the Bangladesh Bank sold the greenback at Tk 104.5 as the foreign exchange reserves keep falling.
3 May 2023, 02:30 AM
Economic pressure deepens as export, remittance dip
Exports and remittances, two major sources of foreign currencies for Bangladesh, plunged in April, a bad omen for the economy as it deals with multiple challenges, including a dollar crisis, an elevated level of import costs and falling reserves.
3 May 2023, 02:00 AM
Forex reserves fall below $31 billion
It hit $30.92b on April 30, down from $44.01b on same day a year ago
2 May 2023, 12:25 PM
Demand for loans falls to 12-month low
Private sector credit growth in Bangladesh slipped to a 12-month low of 12.03 per cent in March, a development that may hurt GDP growth and job creation.
1 May 2023, 02:00 AM
Will BB’s lending rate-setting formula yield expected results?
The Bangladesh Bank has decided to implement a market-based interest rate from July, moving away from the 9 per cent interest rate cap on loans, an initiative that may help the central bank uses its policy rates effectively in its fight against higher inflation.
30 April 2023, 02:00 AM
Forex reserves keep falling amid dollar selling spree
The central bank has kept injecting a hefty volume of US dollars into the market to help banks clear import bills, eroding the Bangladesh’s foreign exchange reserves.
28 April 2023, 02:00 AM
BB sets goal for 75% retail transactions digitally by 2027
The central bank has set a goal so that at least 75 per cent of retail transactions are settled through digital technologies by 2027, a move that may give Bangladesh’s digital transformation a massive fillip and turn the cash-based economy into cashless.
11 April 2023, 02:00 AM
Financial account deficit widens
The deficit in Bangladesh’s financial account widened substantially in the first eight months of the ongoing fiscal year, in an indication that the current stress in the foreign exchange regime will continue in the coming months.
6 April 2023, 03:30 AM
City Bank: a phoenix in Bangladesh’s banking sector
Many banks in Bangladesh struggled to ensure expected profit in the last couple of years owing to the business slowdown, but The City Bank Ltd managed remarkable returns on the back of corporate governance and diversified products.
28 March 2023, 03:00 AM
Uncertainties abroad may affect growth momentum at home: BB
The Bangladesh Bank yesterday said the ongoing global uncertainties may have an adverse impact on the country’s growth momentum and the inflationary situation.
28 March 2023, 02:30 AM
Lessons for Bangladesh from US bank collapse
Silicon Valley Bank (SVB), the 16th largest lender in the United States, has not reportedly faced any scam or lack of corporate governance. Still, it could not avoid the collapse.
14 March 2023, 02:00 AM
Govt borrowing from BB may fuel inflation
The government has continued borrowing from Bangladesh Bank as commercial banks have been unable to come up with much-needed funds owing to a liquidity crunch.
12 March 2023, 02:30 AM
Forex reserves slip to six-year low
Bangladesh’s foreign currency reserves have slipped to a six-year low of $31.15 billion after the central bank cleared import bills to the tune of $1.05 billion with a number of Asian countries, official figures showed.
10 March 2023, 05:55 AM
Central bank’s USD investment plunges
Bangladesh Bank’s foreign exchange reserves invested in US dollars declined 34 per cent year-on-year to $23.63 billion in February as the country is heavily dependent on the American greenback to settle payments for global trade.
28 February 2023, 02:00 AM