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
Export makes a stunning rally in July
July, it seems, will go down the annals as the month in which the Bangladesh economy lifted the pall of gloom brought on by the global coronavirus pandemic.
4 August 2020, 18:00 PM
Breaking records, remittance continues to beat all odds
The foreign currency reserve and inflow of remittances hit new record in the country in July despite the economic fallout triggered by the pandemic.
3 August 2020, 14:05 PM
BB throws kitchen sink at downturn with its latest monetary policy
The central bank yesterday took an expansionary monetary policy by way of cutting the interest rate on its tools with the view to making funds cheaper for both banks and businesses.
29 July 2020, 18:00 PM
Banks are slowly seeing back the cash withdrawn in panic in March
Back in March, when the country was gripped by the fear of the novel coronavirus, people were streaming to banks to take out money from their accounts, in what was viewed as a puzzling occurrence.
26 July 2020, 18:00 PM
Exporters get yet another shot in the arm from govt
The government yesterday gave yet another stimulus package worth Tk 3,000 crore for the export-oriented industries to help them provide wages and salaries to their workers for July.
23 July 2020, 18:00 PM
BB announces credit guarantee scheme for small enterprises
The central bank yesterday decided to introduce a credit guarantee scheme for the micro and small enterprises, the first of its kind in the country, giving a much-needed lifeline to the SME sector struggling to stay afloat.
23 July 2020, 18:00 PM
Banks just not getting worked up by farm loans
Banks are reluctant to disburse farm loans despite the government’s renewed emphasis on keeping crop production unscathed from the devastating impact of the coronavirus pandemic and stimulus packages, deflating the state’s efforts towards an economic bounce.
22 July 2020, 18:00 PM
The future of lending is here. And it is thanks to City Bank and bKash.
City Bank and bKash are possibly on to revolutionising the lending landscape in Bangladesh after the two yesterday announced rolling out digital lending on a pilot basis.
21 July 2020, 18:00 PM
Agent banking was a rough diamond. Pandemic has buffed and shined its great potential.
The ongoing pandemic, no doubt, has been a sucker punch to both lives and livelihoods like no other in recent memory. But, amidst the catastrophe, there are a few bright spots.
20 July 2020, 18:00 PM
Banking sector’s stressed asset figure, once unveiled annually, is now under wraps
The central bank has stopped publishing the figure of stressed assets in its annual financial stability report with a view to painting a rosy picture of the banking sector at a time when lenders are facing one of their worst crises in living memory.
18 July 2020, 18:00 PM
An expansionary monetary policy or nothing
At times of recession, it is all too tempting to axe jobs or go for pay cuts for self-preservation.
14 July 2020, 18:00 PM
Digital financial inclusion could help economic recovery
Bangladesh has embraced a wide range of financial inclusion since 2010 by allowing a vast population to open an account with an initial deposit of Tk 10 to Tk 100 as the government looked to bring the unbanked under the umbrella of the banking sector.
13 July 2020, 18:00 PM
Card spending halves in April
The coronavirus pandemic triggered a decline in card spending by nearly 50 per cent in April, in an indication of a massive fall in demand in Bangladesh as people went for belt-tightening amid income collapses.
12 July 2020, 18:00 PM
EBL to offer Bangla QR payments
Eastern Bank Ltd will introduce an interoperable quick response (QR) payment system using mVisa platform in August in order to expedite the growth of cashless transactions in the country.
11 July 2020, 18:00 PM
Explore new markets, train manpower to boost remittance: experts
Remittance has been on the rise in recent years riding on an annual export of more than 7 lakh economic migrants since 2016 – in a development that has helped the government manage the economy smoothly.
9 July 2020, 18:00 PM
Borrowing from banks doubles
The government borrowed a staggering amount from banks last fiscal year mainly due to the ongoing economic crisis brought on by the coronavirus pandemic, a development that is poised for a macroeconomic imbalance in the country.
8 July 2020, 18:00 PM
Dhaka Bank shapeshifting with pandemic
When the majority of banks are struggling to survive from the ongoing financial meltdown brought on by the coronavirus pandemic, Dhaka Bank has introduced a novel banking product that will help clients open their account from home.
6 July 2020, 18:00 PM
Sonali Bank seeks Tk 10,000cr to meet BASEL III requirements
State-run Sonali Bank has sought about Tk 10,000 crore as regulatory capital from the government in order to implement the BASEL III guidelines.
5 July 2020, 18:00 PM
Banks’ looming salary cuts: far-sighted or self-seeking?
Opportunism. That is what comes to mind when one hears of the move by the Bangladesh Association of Banks (BAB), an organisation of sponsors of private banks, to usher in salary cuts for their staffs.
5 July 2020, 18:00 PM
Banks in Bangladesh have the lowest capital base in South Asia
The capital base of Bangladesh’s banking sector is much weaker than in peer countries -- a situation that not only highlights its frailty but also the heightened vulnerability amid the coronavirus pandemic.
4 July 2020, 18:00 PM