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
Taka suffers steepest fall in a decade
The taka yesterday lost 0.91 per cent in value against US dollars, the sharpest single-day fall in the past one decade, amid the falling supply of the American greenback against surging demand to settle import bills.
17 May 2022, 02:30 AM
Time running out to devalue taka sharply
Bangladesh has so far resisted calls for a major devaluation of its currency despite runaway imports amid higher food, energy and raw materials prices globally.
15 May 2022, 02:30 AM
Bangladesh Bank toughens stance against luxury imports
In the face of falling foreign exchange reserves, Bangladesh Bank yesterday instructed banks to take up to 75 per cent of import payments in advance from businesses to open letters of credit (LCs) for luxury and non-essential goods.
10 May 2022, 18:00 PM
Taka slides further against dollar
The country’s foreign exchange market has remained volatile even though the Bangladesh Bank has depreciated the taka against US dollars four times this year.
9 May 2022, 18:00 PM
Stimulus funds: Lending loses steam for slow release of interest subsidy
Bangladesh’s economy might fail to benefit from the government’s timely rollout of stimulus packages for cottage, small, medium and large industries as banks have lost the zeal to extend loans since interest subsidy was not paid out at the expected pace as initially thought.
7 May 2022, 18:00 PM
Islamic Finance asked to form search panel
In a rare move, the Bangladesh Bank has asked Islamic Finance and Investment Ltd (IFIL) to form a search committee for the appointment of a managing director at the non-bank financial institution.
27 April 2022, 18:00 PM
Private credit growth rises 11.3pc in March
Private sector credit growth in Bangladesh accelerated to 11.29 per cent in March, the highest in three years, spurred by high commodity imports ahead of Ramadan and Eid-ul-Fitr, the biggest sales season for domestic market-oriented businesses.
26 April 2022, 18:00 PM
Default loan rescheduling falls to 7-year low
Rescheduling of default loans fell to a seven-year low in 2021, riding on a moratorium extended by the Bangladesh Bank to protect borrowers from the economic shocks arising from the coronavirus pandemic.
25 April 2022, 18:00 PM
FDI goes up but lower than expected
Foreign direct investment to Bangladesh rose 13 per cent year-on-year to $2.89 billion last year, in a positive development for an economy long looking to increase the flow of external funds to accelerate its growth, official figures showed.
24 April 2022, 18:00 PM
Non-bank interest cap goes against global trends
The Bangladesh Bank yesterday imposed an interest rate cap on deposits and loans at non-bank financial institutions aligning with the ceiling now prevailing at banks although rates are rising globally to tame runaway inflation.
18 April 2022, 18:00 PM
Loan Scam: BB slaps credit card ban on Sikders
Bangladesh Bank yesterday banned 10 members of Sikder family and two officials of Sikder Group from using international credit cards for two years as they took loans from National Bank Ltd beyond their credit card limit grossly violating the banking rules.
13 April 2022, 18:00 PM
BB Cyber Heist: Case against Filipino business dismissed
A top United States court has dismissed a Bangladesh Bank case against a Philippines business entity, which was accused in the unprecedented cyber-heist faced by the central bank six years ago, according to media reports.
12 April 2022, 18:00 PM
Banks asked to curb non-essential imports
The Bangladesh Bank yesterday ordered banks to immediately adopt strict measures to discourage imports of non-essential items in a bid to rein in the escalating import payments and avert any pressure on the foreign currency reserves.
11 April 2022, 18:00 PM
Scams, higher expenses keep 9 banks in the red
Nine banks, including four state lenders, suffered net losses in 2021, largely as a consequence of financial scams that forced them to set aside higher provisioning.
11 April 2022, 18:00 PM
Lending leaping thru agent banking
Banks had initially focused on using agent banking platforms to mobilise deposits from rural areas, for which lending took a back seat.
10 April 2022, 18:00 PM
Trade deficit heads to historic high
Bangladesh’s trade deficit escalated by 80 per cent in the first eight months of the ongoing fiscal year in the wake of a surge in import payments against lower exports receipts.
7 April 2022, 18:00 PM
Forex crisis spills over into call money market
The ongoing strain on Bangladesh’s foreign exchange regime has created cash shortages in the banking sector, sending the interbank call money rate to a 19-month high yesterday.
4 April 2022, 18:00 PM
Focus on sustainability sparks innovation
The Hong Kong and Shanghai Banking Corporation (HSBC) has set a goal to provide between $750 billion and $1 trillion in financing and investment globally in the next decade to support its clients to lower carbon emissions and achieve sustainable growth.
3 April 2022, 18:00 PM
Nagad gets extension for fifth time
The Bangladesh Bank has once again renewed the interim licence of Nagad for another six months as the Bangladesh Post Office (BPO) is yet to form a subsidiary to run the mobile financial service.
2 April 2022, 18:00 PM
EBL, Visa team up to help banks cut card operations cost
Visa Worldwide Pte Ltd has partnered with Eastern Bank Ltd to roll out a solution to offer trustee services to its member banks, the first of its kind in Bangladesh.
28 March 2022, 18:00 PM