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
Bankers worried over a lack of transport
Bankers are considered the frontline workers given their role in keeping the wheels of the economy moving, but they are now afraid of performing their job amidst the strict restrictions on movement imposed by the government.
4 April 2021, 18:00 PM
Rush for cash withdrawals
Banks yesterday faced a huge number of cash withdrawals as the government declared a restriction on movement for seven days from today as part of effort to tackle the second wave of the coronavirus pandemic.
4 April 2021, 18:00 PM
Hefajat, Like-Minded Groups: BFIU seeks bank info of 24 leaders
The Bangladesh Financial Intelligence Unit (BFIU) of the government has sought the bank account details of 24 leaders of different organisations, including Hefajat-e-Islam and 30 madrasas.
3 April 2021, 18:00 PM
Remittance rises 35pc in 9 months
Remittances sent by migrant workers and non-resident Bangladeshis rose 35 per cent year-on-year in the first nine months of the current fiscal year, hitting $18.60 billion in total.
1 April 2021, 18:00 PM
SMEs need credit the most
Bangladesh Bank has identified 13 sectors of the economy that have been severely affected by the first wave of the coronavirus pandemic, including travel and tourism, readymade garments, textile and small and medium enterprises.
30 March 2021, 18:00 PM
Credit growth rises moderately
Private sector credit growth went up moderately in February to keep up with the recovering trend of the economy, but bankers say the rising coronavirus infections and deepening uncertainty have dipped the growth in March.
28 March 2021, 18:00 PM
Uncertainty may curb rising card spending
Spending through credit cards maintained an upward trend in Bangladesh in January, but bankers say the rising coronavirus infections and deepening uncertainty may discourage credit-based purchases.
27 March 2021, 18:00 PM
Export dev fund being raised to $5.5b
Bangladesh Bank has decided to increase the size of its export development fund (EDF) as it reaches out to businesses tackling slowdowns from a recent resurgence in daily Covid-19 cases, the highest since last July.
27 March 2021, 18:00 PM
Joint ventures in EPZs now eligible for export loans
The central bank yesterday allowed “Type-B” companies in export processing zones (EPZs) to enjoy foreign currency loans from an export development fund (EDF).
22 March 2021, 18:00 PM
Non-banks’ dividend capped at 30pc
The central bank yesterday imposed a dividend cap of 30 per cent on non-bank financial institutions (NBFIs).
22 March 2021, 18:00 PM
BB bats for sukuk investors
The central bank has proposed the National Board of Revenue (NBR) to consider the profits earned by individual investors from their investment in the Islamic bond as tax-free income.
20 March 2021, 18:00 PM
Forex reserves may come under stress without quality lending
The country’s ballooning foreign exchange reserves may come under stress if the infrastructure projects to be bankrolled by the excess external capital are not monitored properly, experts warn.
17 March 2021, 18:00 PM
Now jail term for trade-based money launderers
Businesspeople will be sentenced to seven years in prison if they make the wrong declaration on exports, imports and investment abroad as the government has moved to rein in trade-based money-laundering, which costs Bangladesh billions of dollars every year.
15 March 2021, 18:00 PM
Capital machinery import yet to get momentum
Import of capital machinery, industrial raw materials and intermediate goods is yet to get momentum despite the pickup in economic activity in Bangladesh because of the persisting coronavirus pandemic.
13 March 2021, 18:00 PM
Janata casts a pall on banking sector’s profit
Net profit in the banking industry plunged 44 per cent year-on-year to Tk 5,279 crore last year because of the massive loss incurred by state-run Janata Bank.
9 March 2021, 18:00 PM
Padma Bank: Ex-chief says incumbent misused Tk 100cr funds
Muhiuddin Khan Alamgir, founder chairman of Padma Bank, has accused incumbent Chairman Chowdhury Nafeez Sarafat of misusing Tk 100 crore from the troubled lender.
9 March 2021, 18:00 PM
Cashless transactions get a fillip
After receiving his monthly salary through a bank account, Siddique Ahmed Rubel, an employee of a nongovernmental organisation, used to withdraw a large portion of his earnings through ATM booths in order to meet expenses.
7 March 2021, 18:00 PM
Digital banking, future of financial services
Banks will have to embrace digital means extensively compared to what they have adopted so far to digitalise services, or else they will be unable to keep their businesses afloat, said a top banker.
4 March 2021, 18:00 PM
Excess liquidity falls after 8 months
Excess liquidity in the banking industry that ballooned because of pandemic-induced lower credit demand and an injection of funds under a massive stimulus package fell in January, the first time in eight months.
4 March 2021, 18:00 PM
Banks, NBFIs asked to sever ties with CTO Forum
Bangladesh Bank has asked banks and non-bank financial institutions (NBFIs) to sever ties with CTO Forum Bangladesh as the latter’s president spread false information on the capability of lenders in tackling cyberattacks.
3 March 2021, 18:00 PM