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
Hefty incentives for state bank employees
Four state-owned commercial banks (SCBs) have disbursed a huge amount of incentive bonus among their employees despite their weak financial health, ignoring the central bank’s recommendation.
25 July 2021, 18:00 PM
BB questions three non-banks’ fierce SMS marketing
Bangladesh Bank yesterday sent show-cause letters to three non-bank financial institutions (NBFIs) over their aggressive attitude in mobilising deposits, which was a breach of rules.
25 July 2021, 18:00 PM
Govt’s bank borrowing plunges
The government’s borrowing from the banking system declined sharply in the just-concluded fiscal year as it took on a staggering amount of debt through the sales of savings certificates and bonds.
15 July 2021, 18:00 PM
Tourism gets a shot in the arm
Bangladesh Bank yesterday declared a new stimulus package worth Tk 1,000 crore for hotels, motels and theme parks suffering for the ongoing business slowdown amid the coronavirus pandemic.
15 July 2021, 18:00 PM
Banks cut back on loan write-off
Loans written off by banks declined sharply in the first quarter of this year as the lenders’ capacity to keep 100 per cent provisioning against their delinquent assets has decreased because of the slowdown in their business.
14 July 2021, 18:00 PM
More credit at hand to buy digital devices
The Bangladesh Bank yesterday eased rules to make more credit available for consumers to buy digital devices with a view to accelerating digitalisation and narrowing the digital divide.
12 July 2021, 18:00 PM
Defaulted Loans: Cash recovery nosedives
Cash recovery from defaulted loans declined sharply in the first quarter of this year as business activities of the beleaguered clients in Bangladesh worsened due to the economic hardship stemming from the Covid-19 pandemic.
10 July 2021, 18:00 PM
Private credit growth sinks to 28-year low
Bangladesh’s private sector credit growth decelerated to 7.55 per cent in May, the lowest in at least 28 years, due to the depressed demand for loans amid the Covid-19 pandemic.
8 July 2021, 18:00 PM
Remittance surges at sharpest pace in three decades
Remittance inflow posted 36 per cent growth in the just-concluded fiscal year, the sharpest in 30 years, thanks to the hard-earned money sent by migrant workers amid the coronavirus pandemic.
5 July 2021, 18:00 PM
Import rebounds as economy strives for recovery
Bangladesh's imports rose sharply in the first 11 months of last fiscal year as the economy enjoyed a turnaround for the time being following the first wave of the coronavirus pandemic.
5 July 2021, 18:00 PM
Dhaka Bank rides on tech to make retail, SME banking vibrant
Dhaka Bank Ltd has embraced technologies to make its retail and SME banking vibrant instead of relying on the corporate segment as it looks to drive the next phase of growth.
4 July 2021, 18:00 PM
Banks log higher than expected profits despite slowdown
Banks in Bangladesh posted a hefty operating profit in the first half of 2021 despite the business slowdown caused by the coronavirus pandemic, data of 20 lenders showed.
1 July 2021, 18:00 PM
Who owns Nagad?
In March 2019, Nagad started out as the mobile financial service (MFS) of the Bangladesh Post Office (BPO), and it has since been operated by Third Wave Technologies Ltd.
29 June 2021, 18:00 PM
Stimulus fails to stimulate
Everything was in good shape for Akhtar Hossain Khan, an entrepreneur in Saidpur, until his business faced closure for two months after Covid-19 arrived on the shores of Bangladesh in March last year.
27 June 2021, 18:00 PM
StanChart unfailing in giving back to society
As the coronavirus pandemic took hold in Bangladesh in March last year, Standard Chartered Bangladesh (SCB), took steps to keep its operations up and running, protect employees, and support clients.
23 June 2021, 18:00 PM
Bangladesh prepares for Libor phase-out
The Bangladesh Bank yesterday issued a policy on calculating the interest rate of short-term foreign loans as the London Interbank Offered Rate (Libor) is set to be phased out gradually from next year.
21 June 2021, 18:00 PM
Banks’ provision shortfall widens
The provision base of the banks in Bangladesh deteriorated heavily in the first quarter of 2021 because of the surging bad loans, highlighting the worsening health of the banking industry.
16 June 2021, 18:00 PM
Islamic Finance MD resigns amid graft allegations
Abu Zafore Md Saleh, managing director of Islamic Finance and Investment, has resigned over allegations of breaching rules and regulations in recruiting employees and enjoying financial benefits.
15 June 2021, 18:00 PM
Bad loans rise as payment holiday ends partially
As feared, default loans went up substantially in the first quarter of 2021 after the government partially withdrew the loan moratorium facility, which had prevented downgrading borrowers even if they failed to pay instalments regularly.
15 June 2021, 18:00 PM
Banks face IT audits
The ICT Division will likely commence an IT audit on banks next month to measure their capability to thwart cyberattacks as growing digitalisation and remote working arrangements have augmented the financial sector’s exposure to online crimes.
13 June 2021, 18:00 PM