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
Trade deficit narrows on falling imports
The trade deficit shrank heavily in the first half of the ongoing fiscal year because of dwindling imports amid the economic slowdown, in a sign of depressed demand and consumption.
27 January 2021, 18:00 PM
Commerce Bank, Janata run into a quagmire
Bangladesh Commerce Bank and Janata Bank Ltd are in a difficult situation to recover Tk 633 crore they deposited with six non-bank financial institutions as the latter’s financial health deteriorated because of massive scams and lack of good governance.
26 January 2021, 18:00 PM
Banks fail to pay import bills, tarnish country’s image
The image of the country’s financial sector has been tarnished in the international arena as a good number of local banks have not made import payments on time.
26 January 2021, 18:00 PM
Bangladesh Bank in a tight spot
The central bank plans to continue its expansionary monetary policy in the second half of the current fiscal year because of the persistent business slowdown caused by the coronavirus pandemic.
25 January 2021, 18:00 PM
Private credit growth inches up in Dec
Despite demand for loans being suppressed by the ongoing business slowdown, private sector credit growth crept up in December after undergoing a steep descent in the previous two months.
24 January 2021, 18:00 PM
BB in a quagmire as excess liquidity balloons
Bangladesh Bank has fallen in a quagmire tackling an escalation of excess liquidity trending in banks, emerging from slow credit growth and implementation of stimulus packages and an upward trend in receiving remittance.
21 January 2021, 18:00 PM
Radiant Pharma acquires Julphar for Tk 140cr
Radiant Pharmaceuticals has acquired Julphar Bangladesh, a subsidiary of United Arab Emirates-based multinational Julphar Gulf Pharmaceutical Industries, for around Tk 140 crore.
20 January 2021, 18:00 PM
Bangladesh Bank buys record $5.49 billion to keep taka stable
The central bank purchased greenback worth a record $5.49 billion in the first half of the current fiscal year to keep stable the exchange rate of the local currency.
17 January 2021, 18:00 PM
Pent-up demand lifts spending through credit cards
Spending through credit cards continued to maintain an upward trend in November, a sign that clients are stepping up their consumption sidestepping the fear of economic losses stemming from the coronavirus pandemic.
14 January 2021, 18:00 PM
Interoperability across all financial systems this year
The government has taken an initiative to make all accounts of banks, mobile financial services and payment system providers interoperable this year, a development that will allow people to move funds effortlessly within the financial sector on real-time and at lower costs.
13 January 2021, 18:00 PM
Take immediate steps against Uttara Finance scamsters
The central bank should take legal steps immediately against the scamsters involved in irregularities amounting to Tk 5,100 crore in Uttara Finance and Investment Ltd (UFIL) to protect the interest of depositors, two former governors said.
11 January 2021, 18:00 PM
Uttara Finance & Investments Ltd: BB probe reveals Tk 5,100cr scam
When one applies for a loan from any financial institution, the lender has to make sure that the loan application goes through at least five layers of scrutiny.
10 January 2021, 18:00 PM
A trailblazer in banking
Dutch-Bangla Bank has become a pioneer in introducing both digital banking means and financial inclusion programmes in order to cater financial services to both tech-savvy youths and underprivileged people.
9 January 2021, 18:00 PM
BB moves to boost cashless transactions
Bangladesh Bank yesterday rolled out an interoperable QR code as a part of its efforts to boost cashless transactions across the country, particularly in rural areas.
6 January 2021, 18:00 PM
Inflation averages 5.69pc in 2020, a 3yr high
Average inflation rose to a three-year high of 5.69 per cent in the just-concluded calendar year as food prices maintained an upward trend for most of 2020.
5 January 2021, 18:00 PM
Remittance hits $21.7b, an all-time high
Remittance hit an all-time high of $21.74 billion last year as migrant workers continued to use formal channels sidestepping the hundi system to send home massive amounts of money.
3 January 2021, 18:00 PM
Recovery uneven
Businesses are experiencing an uneven recovery from the pandemic-induced slowdown as larger firms are bouncing back strongly thanks to the easy access to the stimulus packages while the smaller ones are still mired in the crisis.
2 January 2021, 18:00 PM
Most banks see their operating profits fall
Operating profits of most banks in the just concluded year have shrunk on the back of a business slowdown caused by the ongoing coronavirus pandemic.
31 December 2020, 18:00 PM
FBCCI pushes for extending loan moratorium
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has reiterated itsrequest for Bangladesh Bank to extend an ongoing loan moratorium until June.
29 December 2020, 18:00 PM
Credit growth takes another beating in Nov
Private sector credit growth dropped in November once again due to the eroding confidence of businesses amid the second wave of coronavirus infections.
28 December 2020, 18:00 PM