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
EBL introduces export factoring solution
Eastern Bank (EBL) yesterday rolled out a novel export factoring solution -- just the day after the central bank issued the guideline for it -- as part of its efforts to reduce the risks that Bangladeshi exporters face when it comes to collecting their goods’ worth.
2 July 2020, 18:00 PM
Bangladesh Bank orders disbursal of stimulus funds by next month
The Bangladesh Bank yesterday cracked the whip on banks for their foot-dragging in implementing the stimulus packages for businesses, ordering them to disburse all funds within the next month.
2 July 2020, 18:00 PM
Pandemic was supposed to quash remittance. But inflows hit an all-time high.
In recent years, remittance has become a pillar of strength for the Bangladesh economy. So when the global coronavirus pandemic hit, all eyes were on the remittance and whether its incredible momentum would sustain.
2 July 2020, 18:00 PM
Pandemic to cause an economic whiplash: BB
All major economic segments of the country will face deep trouble this year due to the ongoing economic fallout brought on by the coronavirus pandemic, according to a central bank report.
1 July 2020, 18:00 PM
BB introduces payment guarantee for exporters
Bangladesh Bank yesterday introduced international factoring, a development that can be viewed as a mode of accelerating the country’s exports and reduce exporters’ risk of collecting their products’ worth.
1 July 2020, 18:00 PM
Bank Asia ushering in the future of banking this year
Bank Asia is set to form a neobank, a thoroughly novel concept for Bangladesh, within December, in a move that can change the face of banking in the country.
30 June 2020, 18:00 PM
BB came to small businesses’ rescue with a Tk 20,000cr package. But they are not seeing the money.
Last week, Jerome Powell, the Federal Reserve Chairman, waved the red flag on what is increasingly looking to be a legacy of the ongoing coronavirus pandemic: a wave of small business failures.
30 June 2020, 18:00 PM
Faithful to his duty till the very end
“My health condition is not good and I might probably take admission in a hospital, so you guys should send the draft of the monetary policy soon.
27 June 2020, 18:00 PM
Private sector credit growth picks up in May -- on paper
Private sector credit data appears to have gone against the grain in May.
27 June 2020, 18:00 PM
BB relaxes rules of stimulus loans for large borrowers
The central bank yesterday relaxed the rules of the Tk 30,000 crore stimulus package for large corporate entities in the industrial and service sectors as it allowed banks to disburse loans to the pandemic-hit borrowers in phases.
25 June 2020, 18:00 PM
Taka gains on falling imports, rising remittances
The local currency has started appreciating suddenly due to a massive fall in import payments and rise in remittances in recent weeks.
24 June 2020, 18:00 PM
Credit cards use depressing as pandemic rules the roost
A good number of nations have cancelled international flights partially or entirely since February in order to tackle the spread of the novel coronavirus.
23 June 2020, 18:00 PM
75 firms get BB nod to borrow funds from stimulus package
Seventy-five companies, including some large groups, have secured approval from the central bank to receive low-cost loans under the stimulus package dedicated to big borrowers in the industrial and service sector.
22 June 2020, 18:00 PM
BB cuts cash reserve ratio for non-banks
The central bank yesterday cut the cash reserve ratio (CRR) for non-bank financial institutions (NBFIs) in order to help the cash-strapped entities tackle the ongoing economic fallout brought on by the coronavirus pandemic.
21 June 2020, 18:00 PM
Source tax a fresh blow to bond market: bankers
The country’s feeble bond market is going to face a major blow as the government plans to impose a 5 per cent source tax on profits of investments in treasury bills and bonds.
21 June 2020, 18:00 PM
Sales of savings tools nosedive
Net investment in national savings certificates (NSCs) dropped sharply in the first nine months of the current fiscal year – an indication that can be viewed as a possible roadblock for the government to manage its bulging deficit smoothly.
20 June 2020, 18:00 PM
No lessons learnt from recessions
The previous global financial recessions gave a lesson that any economic fallout can be tackled smoothly if the health of banks is protected from the crisis.
11 June 2020, 18:00 PM
Newly Printed Money: There’ll be crisis if not used properly
A good number of central banks across the globe have started printing money to get a turnaround from the ongoing financial recession.
11 June 2020, 18:00 PM
Trade deficit widens amid economic fallout
The economic fallout brought on by the ongoing coronavirus pandemic has had an adverse impact on the country’s balance of payments as both trade gap and deficit in the current account widened remarkably in April.
8 June 2020, 18:00 PM
Banks call for measures in budget to lessen their load
Banks have urged the government to take a series of measures in the upcoming budget to protect the banking sector from the ongoing financial meltdown.
7 June 2020, 18:00 PM