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
Businesses should use funds from stimulus packages properly
Businesses should use the funds from the stimulus packages properly to make a turnaround from the ongoing economic fallout, or else they will collapse into a bad state of affairs, said a top banker.
6 June 2020, 18:00 PM
Economy to blast off again from Oct: IMF
There appears to be glimmer of light at the end of the tunnel after the International Monetary Fund yesterday projected that the Bangladesh economy would pick up from the second quarter of next fiscal year from the coronavirus-induced downturn.
4 June 2020, 18:00 PM
The banking sector needs all the help it can get now
Both the government and the central bank should take special care of the banking sector during the ongoing economic fallout given it as the heart of the economy, said Selim RF Hussain, managing director of Brac Bank.
3 June 2020, 18:00 PM
Credit growth plunges to 12-year low
As more and more economic data trickle in of the past few months, we are getting a more accurate barometer of the sweeping pall of pessimism that has enshrouded the economy.
2 June 2020, 18:00 PM
Now non-bank entities can set up ATMs
In a ground-breaking move, the central bank yesterday allowed non-bank entities to install automated teller machines and point-of-sale terminals across the country as part of its efforts to promote card-based transactions.
1 June 2020, 18:00 PM
Balance of payment shrinks with pandemic
The major economic indicators of the country’s balance of payments (BoP) shrivelled in the first nine months of the fiscal year on the back of the economic fallout from the global coronavirus pandemic.
1 June 2020, 18:00 PM
Even Eid failed to haul up remittance in May
Remittance inflows dropped off 14 per cent year-on-year to $1.50 billion in May on the back of the global coronavirus pandemic, in a departure from historic trends that saw money sent by Bangladeshi migrant workers go up ahead of Eid-ul-Fitr.
1 June 2020, 18:00 PM
Up to Tk 20 lakh in interest rebate likely
An individual borrower may get a maximum rebate of Tk 20 lakh from their total loan interest for the period of April and May, said a central bank official -- in what can be viewed as a stroke of good news for large borrowers.
31 May 2020, 18:00 PM
Low-cost loans from stimulus packages not going like hot cakes
Four banks have got approval from the central bank to give out Tk 1,044.90 under the stimulus package of Tk 30,000 crore for large industries and service sectors.
31 May 2020, 18:00 PM
No love for NBFIs from BB yet
Five years ago, Siddiqur Rahman, an employee of a private organisation, took a loan worth Tk 50 lakh from a non-bank financial institution to build his dream home.
30 May 2020, 18:00 PM
BB seeks banks’ updated bad loan, provisioning status
The central bank yesterday asked banks to send their figure of defaulted loans and provisioning of the first quarter of this year within tomorrow.
17 May 2020, 18:00 PM
Imports crash in April, as expected
The country’s import decreased 62 per cent year-on-year to $1.95 billion in April as industrial production has almost come to a halt due to the ongoing shutdown to tackle the spread of the coronavirus.
17 May 2020, 18:00 PM
BB driving with its eyes closed amidst the economic tempest
Without data, companies are deaf and blind, it is often taught in business schools.
14 May 2020, 18:00 PM
BB steps in to shore up banks’ financial muscle
The central bank yesterday rolled out long-term special repo, following the lead of the Reserve Bank of India, to help banks, many of which are cash-strapped, prop up their liquidity base such that they can adequately prime the pump during these extraordinary times.
13 May 2020, 18:00 PM
Govt can’t stop borrowing from banks
The government’s borrowing from the banking sector has escalated in recent days on the back of a revenue shortfall due to a collapse in economic activities from the coronavirus-induced protracted shutdown.
12 May 2020, 18:00 PM
BB finally orders banks to suspend dividends to prime the pump
In an undaunted move, the central bank yesterday instructed banks to not give any cash dividend to both sponsors and investors until September to boost their capacity to absorb the strain on their capital base from the ongoing economic dire straits.
11 May 2020, 18:00 PM
Without BB’s urgent fine-tuning, banks would fail to deliver stimulus packages
A goal without a plan is just a wish, said the French writer and pioneering aviator Antoine de Saint-Exupéry.
10 May 2020, 18:00 PM
State banks seek liquidity support amid fund withdrawal by SoEs
State-run lenders yesterday approached both the central bank and the finance ministry to seek liquidity support as government agencies are withdrawing funds rapidly, a development that will handicap them ahead of implementing the government’s massive stimulus packages.
7 May 2020, 18:00 PM
Agent banking can deliver stimulus packages to remotest corners
Agent banking will play a greater role in implementing the stimulus packages unveiled by the government as the outlets have footprints in Bangladesh’s remotest parts where banks have barely set their foot in, bankers and experts said yesterday.
6 May 2020, 18:00 PM
Foreign exchange reserves pulled towards riptide
The country’s foreign exchange reserve will face trouble in the days ahead as both the export earnings and remittance are now maintaining a declining trend due to the ongoing economic fallout from the global coronavirus pandemic.
5 May 2020, 18:00 PM