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
Failure to Pay FDR: Climate Trust threatens to sue Padma Bank
The Bangladesh Climate Trust Fund (BCTF) has warned Padma Bank of legal action over its failure to pay back the fixed deposit receipt (FDR) worth Tk 29.1 crore upon maturity.
12 June 2021, 18:00 PM
Private sector in a sorry state
Bangladesh’s private sector has long been in stagnation because of the coronavirus pandemic, and this was again on display during the auction for sukuk last week.
12 June 2021, 18:00 PM
Bangladesh Bank buys record $7.7 billion to keep taka stable
The central bank purchased $7.68 billion from the banking system in the first 11 months of the current fiscal year, the highest on record, to contain any abnormal appreciation of the local currency.
8 June 2021, 18:00 PM
11 banks face huge capital shortfall
Eleven banks faced a capital shortfall of Tk 24,783 crore in the first quarter of 2021, which highlighted the fragile health of the lenders.
6 June 2021, 18:00 PM
BB stops FAS Finance MD’s US trip
Bangladesh Bank yesterday refused to allow FAS Finance and Investment Ltd Managing Director Pritish Kumar Sarker to travel to the US.
6 June 2021, 18:00 PM
Poverty Reduction: Pandemic eats away 30 years’ progress
Poverty steadily reduced for 30 years until 2019. Then came the pandemic.
3 June 2021, 18:00 PM
Mercantile Bank beefs up digital platforms
Mercantile Bank Ltd (MBL) has taken a set of initiatives to widen its businesses by way of strengthening its different digital platforms, sidestepping the ongoing business slowdown caused by the coronavirus pandemic.
1 June 2021, 18:00 PM
Nine banks incur net losses in Q1
Nine banks faced net losses in the first quarter of this year as the majority of them have been in the red for years due to wide-ranging financial scams.
1 June 2021, 18:00 PM
MFS interoperability by December
People will be able to transfer funds from their mobile wallets to other accounts belonging to another carrier and banks by December in a development that would give the mobile financial service (MFS) industry a massive boost.
26 May 2021, 18:00 PM
Huge losses eclipse state banks’ progress in trimming bad loans
Six state-run banks’ progress in bringing down the defaulted loans last year on the back of recovery and the payment holiday was overshadowed by a large volume of net losses.
25 May 2021, 18:00 PM
Banks fast embracing cash recycling machines
Banks are aggressively installing cash recycling machines (CRMs) to provide faster deposit and cash withdrawal services to clients, a move that is helping customers cut reliance on branches and giving them more freedom to carry out banking.
23 May 2021, 18:00 PM
Cash takes back seat as Covid drives card use
The use of both credit and debit cards went up heavily in March as people purchased more products and services through digital means amid the recent resurgence of Covid-19.
22 May 2021, 18:00 PM
Trade deficit widens
The country’s trade deficit widened moderately in the first nine months of the ongoing fiscal due to higher import growth, which is a sign that the economy is gradually recovering from its depressed state of affairs.
20 May 2021, 18:00 PM
Run-up to Budget FY2021-22: Financial plight grows for poor, unemployed
The upcoming budget should take a wide range of fiscal measures to lift the new poor out of poverty as they have been languishing in financial plight since the pandemic hit the country more than a year ago because of inadequate support from the government, experts said.
19 May 2021, 18:00 PM
Govt moves to rein in willful defaulters
The government, for the first time, has moved to define habitual defaulters, a development that may stop delinquent borrowers from running businesses, travelling abroad, and participating in social and political activities.
17 May 2021, 18:00 PM
Accounts With Tk One Crore and Above: Banks see deposit surge
Banks in the country saw a rapid surge of funds in certain accounts last year after the government gave the scope for legalising black money.
17 May 2021, 18:00 PM
School banking getting popular
School banking is increasingly gaining popularity among students as the total deposits in such accounts reached around Tk 2,000 crore last year, sidestepping the pandemic-induced economic hardship.
10 May 2021, 18:00 PM
T-bonds a lucrative investment
People in Bangladesh can easily invest their funds in Treasury bonds (T-bond), thanks to a set of initiatives taken by the central bank recently.
6 May 2021, 18:00 PM
Bangladesh Bank issues guideline on use of public fund kept with MFS
Bangladesh Bank yesterday issued guidelines specifying the sole ways in which public money deposited in the accounts operated by mobile financial service (MFS) and e-money service providers can be used.
6 May 2021, 18:00 PM
Informal Sector Workers: Hardly cared for in hard times
The latest restrictions on movement have dealt another fatal blow to workers in the informal sector in the absence of adequate government support required to survive a prolonged period without work.
4 May 2021, 18:00 PM